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Enterprises Experience Economic Revolving Door: As One Starts Another Folds

Latest research shows that whilst 270,000 small businesses are registered annually throughout the UK, almost the same number close down over this time period.
Finance - 24 March 2010   Download IconContent available for download:  
Audio | Interview with Dr Steve Garnett, a technology expert and business entrepreneur| Login to Download

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  News Hooks:

Small businesses make up 99.3% of the 4.7 million businesses in the UK. This Local Business Week looks to address the difficulties local organisations face and the effect it has on specific areas throughout the country.

Latest research shows that approximately 270,000 small businesses are registered annually throughout the UK, yet almost the same number close down over this time period.

45% of SMEs have recorded a fall in annual revenue of between 10% and 50% in the last year. Despite this fall of revenue, 72% of SMEs see information technology as ‘a positive enabler’ in making a quick exit from this situation, therefore a possible solution.

. Introduction:

Latest research shows that around 270,000 small businesses are registered annually throughout the UK, yet almost the same amount closed down over this time period. This demonstrates the constant battle that these local enterprises face to survive in specific areas of the UK. Those who are still managing to keep afloat are recording a large fall in revenue and feel information technology may be the solution.

With upfront capital expenses and maintenance costs rising year on year, how can small businesses compete in today’s market?

Joining us in the studio is Doctor Steve Garnett, a technology specialist.

. Suggested Questions:

How many small business start-ups and closures have occurred in our area recently?

Why do small businesses struggle to stay alive?

What tips do you have to help small businesses?

Is there a way that small companies can bring costs down?

What is cloud computing and how can it benefit a company?

Where can we find more information?