Iconic Strategies Ltd Contribute as Small Businesses Help Economic Recovery

At the start of 2013 it was estimated the number of businesses in the UK was set to rise to around 4.9 million. With almost 99 percent of these businesses being private sector small to medium enterprises (SME), it’s safe to say that small businesses are having a big impact on the recent move towards economic recovery.

Norwich-based sales and marketing firm, Iconic Strategies Ltd, believe the reason small businesses are so powerful in terms of aiding the growth of the economy compared to larger businesses is down to a number of important factors. Obviously SME’s don’t generate nearly as much money as their much larger counterparts; however the sheer number of SME’s in the UK has played an important part in their reputable success. Smaller businesses have helped provide a great number of job opportunities compared to larger companies, by having many small businesses hiring individuals who may not be suitable for larger companies. Many Britons are finding work through SME’s and avoiding themselves being another unemployment statistic. This is because SME’s actively seek out talent and innovation rather than experience, focusing on developing their workforce and giving them a chance to grow. Owners of small companies tend to have a more active role in the business and are more open to implementing ideas and solutions suggested by their employees in order to help the business grow and succeed.

Another way small businesses are flourishing and improving the economy is due to their often higher quality and more efficient working practices. As previously mentioned owners of small businesses play a far more active role within the company, this is because as the business is still very much close to their heart and as it grows they want to ensure it gains a positive reputation. This gives them the opportunity to not only oversee the quality of the work being produced, but also creates a wave of pride within their employees to meet a high standard. These SME’s are also keen to encourage repeat business and build loyal customer relationships, and being a smaller business have the time and resources to provide a more personalised service than larger companies.

Last year SME’s in the UK were estimated to be currently employing around 14.4 million people, and were heavily contributing to the economy through a combined turnover of £1,600 billion. These figures are fairly impressive when you consider these businesses employ no more than 250 employees each. With an increase in larger companies looking to outsource work to smaller businesses, these figures are set to rise over the coming years.

To encourage others to help the UK’s economic well-being, Iconic Strategies Ltd, an outsourced sales and marketing company in Norwich offers a unique Business Development Program. The program encourages ambition and innovation to help inspire ambitious young entrepreneurs to take the plunge and move forward with their own small business plans. Key elements covered in the program include sales techniques, networking opportunities and leadership, whilst promoting a tried-and-tested business model, financial planning and generating sales leads.

By promoting entrepreneurship, the number of SME’s will be set to rise, ensuring more job opportunities across the UK, providing communities with a stable future and the economy with a further much needed boost.