Small firms developing new strategies to take on the big boys
Businesses plan to explore new revenue streams
One in five of Britain’s small businesses are tweaking their business strategy to win new customers from bigger firms.
That is the main conclusion of a new survey from Research In Motion (RIM), which also found that over half of small-to-medium sized firms believe they can grow by exploiting the deficiencies of established multinationals.
Of the companies who responded to the RIM study, 20% said they were developing new products to offer a viable alternative to bigger firms’ offerings.
Meanwhile, 37% of respondents said they intend to explore new business avenues over the next year, and 45% are determined to grow their company.
Rory O’Neill, EMEA software vice president for RIM, said: “With support for small businesses in the UK ramping up through programmes like StartUp Britain, leaders have a golden opportunity to lay down solid foundations for their business.
“The key to success is preparation and small businesses are looking to achieve this by implementing the right infrastructure to take advantage of the opportunities available.”