Small firms ‘crave advice’

Owners feel alone when making business decisions

Over a third of small business owners feel isolated when making key business decisions, new research reveals.

According to the poll commissioned by 02, 37% of SME bosses think they are on their own when it comes to making important decisions about running their company. Focusing on changing strategy or direction, 43% confess to loneliness, while another two fifths feel detached over business planning matters.

To overcome this isolation, the vast majority of firms recognise the benefits of a close network of small companies sharing knowledge and business leads but only 10% could say they were actually taking part in such activities.

Peter Rampling, O2 head of SME marketing, said despite a wealth of networking opportunities offered by business organisations, many small firms believe the services were only available to larger companies.

“Many companies don’t think business organisations will benefit them as they are not relevant to one-man bands but I’ve never come across any that physically exclude them,” Rampling told Crimson Business.

“Networking could play a large part in overcoming small business loneliness. Networking is as much about advice as about getting additional business. Companies receive advice from people they meet as well as new business opportunities.”

Rampling called on small business communities across the UK to get together to share experiences and pass on valuable knowledge.

Comments

(will not be published)