Wednesday, January 18, 2012

SMEs target on Increasing Client and Revenue Growth this 2012

A recent survey reflects that among the top priorities of small and medium business this 2012 are customer relationships and increasing business activity in the markets.

This was according to the Business Monitor Survey which was released recently by MYOB, a management service provider. And yes, the customers remain the main focus of small and medium businesses.

"Customers will understandably remain the core focus for Australian SMEs in maintaining and strengthening their business health in 2012, with our research finding more than one third of businesses are set to increase activity around attracting customers' attention and building their loyalty,” said Tim Reed, Executive Chief of MYOB.

"It makes sense for today's business owners, many of whom face increasingly financially conservative consumers, to foster a 'stickier' customer by providing more products or services to whet their appetite," he added. "For many it will be the key to their survival in a two-speed economy,” Reed continued.
It was also seen that about 24 percent of businesses are intending to enter online sales this year.
According to the survey, about a third of the more than 1000 Australian small and medium businesses include in their key strategies for this year attracting and retaining customers, as well as diversifying businesses into new areas or fields.

It is interesting to note that the Australian accounting software, cloud computing, has been seen to have played a vital role in the expansion of businesses offshore. It is said that those firms that have their own website were able to increase their revenue by six percent in the past 12 months. This is in comparison to those who did not have it or used accounting software for business.

According to Mr. Reed, "The key is getting online, being found, communicating well to your online audience and in doing so getting solid access to the digital economy.”

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