Major Developments Major Developments by Calendar Year

October 12, 2010

SME’s in UK are Implementing Remote Working

Filed under: Small Business — Tags: — Winson @ 8:43 AM

As per IDC Research, about 73 percent of the managers and around 75 percent of IT managers agreed that the remote access services has increased productivity of their staff.

The contribution of SMEs in UK workforce is about 59 percent and more than 50 percent of GDP. The SMEs in UK will lead the economic recovery.

Most of the SME owners agree that flexibility in the way they do their business is vital for their success. This is the reason why many UK SMEs are investing in remote working technologies.

IDC research reported that around 32 percent of the firms were implementing remote working schemes compared to 15 percent across the rest of the Europe. As per a recent survey by LogMeIn, 73 percent of IT managers accepted that remote access services have increased the productivity of their staff members.

As per the survey, only a quarter of SME employees work off-site for about once a week. 12 percent of the SME employees work virtually. About 51 percent of SMEs who were surveyed were planning to increase their use of remote access services in the next 6 months.

October 5, 2010

Increase in Credit Card Usage by Small Business Created Numerous Jobs: Keybridge

Filed under: Small Business — Tags: , , — Winson @ 7:25 AM

According to a new research by Keybridge, the usage of credit cards by small-Business is creating many jobs directly or indirectly. This is giving businesses good financial benefits against cash shortages.

As per the study by Keybridge Research, there are many effects of credit cards on small businesses growth and US job creation. It also showed that for every 1 percent rise in business credit card credit availability to small businesses, there is an increase of 0.051 percent in firm employment and there is also increase in firm revenue by 0.14 percent.

According to the study findings, it was found that the increase of credit card lending to small businesses from 2003 to 2008 has tremendously contributed for the creation of 1.6 million US jobs. There was direct contribution for creation of 592,000 small-Business jobs. There were also 1.0 million jobs which were created additionally throughout the US economy.

It was also figured out that the cumulative increase in the US economy of around $142 billion on an annual basis is equal to about 1 quarter percentage point of total US Gross Domestic Product which resulted in increase of credit card lending to small businesses from 2003 to 2008.

Finally, the Keybridged study identified that there was a positive relationship between increase in issue of credit and small-Business employment and revenue.

October 1, 2010

Small Businesses are not Utilizing Social Media for Marketing: Citibank

Filed under: Small Business — Tags: , , , — Winson @ 9:12 AM

According to a latest survey by Citibank, many of the small businesses are not utilizing even the basic online tools which are readily available and which would help them grow their businesses despite of a lot of buzz around social media.

  • Around 63 percent of the small business respondents expressed that word of mouth publicity is the best way to increase their business market. They also said that it helps them in finding new customers. Many of the small businesses do not consider marketing through social media as a word-of-mouth channel.
  • The social media sites like Face book, LinkedIn and Twitter are not being used by 81 percent of the respondents.
  • 37 percent of them are not using websites in order to expand their small businesses.
  • Around 84 percent of the small businesses are not selling their products through online service.
  • Almost 62 percent are not utilizing email for marketing their products.
  • More than 47 percent of them perceive that these sites are not of any value for their businesses.
  • 21 percent think that the social media sites are more for personal use than for business.
  • 18 percent of them expressed that they do not know much about how the social media helps in expanding their business and how to utilize it to maximum.

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September 25, 2010

Small Businesses Exports Increase Opportunities for Growth

Filed under: Small Business — Tags: , — Winson @ 3:16 AM

There was a growth in exports and services in US. There was a increase of 16.7 percent in the first quarter of 2010. This is the result of the initiative that was announced by President Obama. This initiative is expected to double exports of United States and create 2 million jobs in US in the next few years.

But when closely observed, only 1 percent of U.S. small businesses currently export though there is huge demand for high-quality, American-made products. To show the entrepreneurs that how simple exporting is, UPS is working with federal agencies.

The export of small businesses creates a door way for many opportunities can be demonstrated by taking the example of Dan Perkins at Couch Guitar Straps. He started exporting accidentally when foreign customers began to request for his products. He was quickly enough to learned that foreign sales play a key part in small businesses.

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September 24, 2010

Other Factors Hindering the Growth of Small Businesses

Filed under: Small Business — Tags: , — Winson @ 10:40 AM

Over the past three decades during every recession, the small businesses who had less than 100 employees came forward and began hiring. Small businesses were the ones who pulled the country from the entangle.

Not only the the factor of tight credit is hindering the growth of small businesses as per Obama administration and others, there are also few other factors are also hindering the hiring process in small businesses.

There is a drastic drop in the creation of small businesses. The destruction of real estate market. There is much uncertainty in the point of view of economic conditions in the country.

Devastating levels of unemployment in that country this time than in the previous downturns. It is appearing to be bound near 10 percent.

Due to the depression in real estate market, there is much impact on the small businesses. Real estate was the vital force for the small firms. The real estate holdings have often been generators for the profits and they also provided collateral for the new machinery or other expansions.

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