Adapting to change - SMEs prospering against the odds
Despite all the doom and gloom surrounding the latest economic growth forecast which has been slashed from 0.8% down to zero; it’s not all bad news. There is still a big bright light at the end of the tunnel for small medium enterprises.
Being agile and having the ability to adapt in a competitive environment is something that SMEs can do without being subjected to aggressive, short term targets like some of the big corporations in the city.
You would think SMEs would be concerned about the knock on effect of the Eurozone crisis, but because small organisations are able to find niches in the market they are flexible to change, which allows for further employment and growth. When you think about it, 95% of organisations in the UK such as newsagents, local shops, hairdressers, local garages or builders are all small businesses that are vital to the economy.
There are some successful examples which show that despite the tough climate, organisations can succeed if they adapt to change.
We enjoy hearing successful stories in business, so let us know if you have something to shout about. You never know, we may highlight your story in our next newsletter.