business profits

Unfair Tactics hit Small Business Profits

As many as 53% of the heads of SMEs believe that their profits are being harmed by the unfair sales practices of their rivals. New research by the Department for Business, Enterprise and Regulatory Reform has revealed that in addition to more than half of SME owners being wary of lost profits due to unsavoury practices; Of those that believe their profits are being eroded: 10% estimate that rogue traders cost them 20% of their revenue 38% believe that rogue traders cost them between 10 and 20%. As many as 20% of small company owners have previously worked in organisations that have used unsavoury practices and 12% of those have been either trained or actively encouraged to use unfair tactics to make a sale. The government are to crack down on this problem with measures, if they are approve... »