Citipeak Promotions Ltd Encouraged by Study Results Highlighting Small Businesses are Great Examples to Larger Corporations

As a recent study reveals how small businesses can be an example to large ones, Nick Johnson, owner of small business Citipeak Promotions Ltd, highlights the reasons why innovation is essential for the success of any company.

A recent study from the Chartered Institute of Personnel and Development, found that the UK’s economic growth could be boosted if large firms adopted the entrepreneurial spirit that drives so much value in start-ups and small firms. The UK’s entrepreneurs have grown sales by an estimated 20% year on year and SMEs (small and medium sized enterprises) contribute 52% of private sector gross value added to the UK economy. Small business owner and Managing Director of Citipeak Promotions Ltd, Nick Johnson, believes that the innovative spirit that drives small business owners could be a huge help to larger companies looking to grow.

The report commissioned by the CIPD is encouraging larger companies to promote the culture of ‘intrapreneurialism’ where big businesses can help their employees adopt entrepreneurial behaviours that foster innovation and growth. The buzzword ‘intrapreneurs’ was coined in the 1980s by management consultant Gifford Pinchot and is often used by organisations that recognised the need for new and innovative ideas. Unlike entrepreneurs, who tend to run their own small start-up organisations, intrapreneurs usually work in larger organisations where they’re tasked with developing new ideas and concepts like an entrepreneur would.

Over recent years, small businesses have become even more important to the UK economy and now the innovation and drive that underpins the growth and success of small businesses is being used to help grow large companies in the UK. Nick Johnson, Managing Director of small business Citipeak Promotions Ltd, considers innovation as one of the main reasons why the firm has had so much success since its establishment in early 2010.

Innovation means using new technology and using new ways of thinking to add value to an existing idea or product and to make substantial changes in society. Small businesses often innovate extremely well because entrepreneurs and small business owners such as Nick Johnson regularly have new ideas to help improve business strategies. Over 90% of businesses think that innovation is a priority for success.

At Citipeak Promotions Ltd, the firm’s innovative strategies, led by Nick Johnson, include:

1.Having a Unique Selling Point (USP)
2.Responding to Competition
3.Continuous Improvement

Citipeak Promotions Ltd is an outsourced sales and marketing company. The firm use their USP in the right way to add value to their client’s products and services. This has given Citipeak Promotions Ltd an advantage over other firms in the saturated sales and marketing industry. As start-up companies grow, it can be easy for the entrepreneurial spirit that made it so successful in the first place to wane; it is this innovation that ensures the continued success of small businesses. Citipeak Promotions Ltd operates within the competitive sales and marketing industry. The firm use innovative ideas to help see future opportunities and in order to stay ahead of the competition. Lastly, innovation gives organisational sustainability when continuous improvements are being made. At Citipeak Promotions Ltd, the firm recognises the need to innovate, which will help to grow the business.