Monday, June 2, 2008

SMEs - reality check (12/2006)

Why do SMEs battle for everything from finance to survival, to cash flow to staffing? Often, because of their own actions.

As an entrepreneur myself, I too am guilty of the same mistakes that most SMEs make. I like to believe however, that I have learnt from my mistakes.

Most business plans from SME owners are poor to say the least. Why? They read too little, they are terrified to share their knowledge because it might be stolen so they operate in isolation, they are convinced that a discounted price is the secret to their success, they are scared of change, and they have no desire to grow their businesses.

In other words the biggest stumbling block to their success is themselves. To be fair this is not the only reason they battle, but it is a major contributor.However, there is no doubt in my mind that SMEs have more control over there busienss lives than they know or accept.

We will review these and many other issues as time marches on.

Rob Smorfitt

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