More than half (54%) of small and medium enterprises (SMEs) in the UK see an opportunity to grow their business by picking up opportunities that larger organisations and the public sector can no longer fulfill, according to a study conducted by Research In Motion (RIM).
This is despite the fact that 66% feeling ongoing pressure in an uncertain economy, the study said.
These opportunities come as the British government supports small businesses, with initiatives like StartUp Britain, which aims to accelerate enterprise growth in the UK.
Business expansions are looked at as the focus area by 45% of SMEs, with 21% changing their business strategies specifically to compete with larger firms.
One fifth are now offering additional products to existing and prospective clientele and a further 37% are planning to expand their business into new areas over 2012, the RIM study said.
About 69% of SMEs are focusing on to get new customers and partners and 58% are improving relationships with current customers and partners.
The study further said that technology will play a key role in achieving this goal with 65% of respondents recognise that technology can improve the ability to communicate with customers, share information and answer questions.
While 58% see digital tools such as software-as-a-service, social networks as an important part of business operations, while 63% see technology as a key enabler in improving partner and customer relationships.
The advice and support of other small businesses are found useful by 63% of small businesses, while 40% would like to use mobile social networking to network with and learn from other small businesses in the future.
Investment in technology this year is a priority for 24% of SMEs with the top three areas for technology investment are mobile (33%), hardware (33%), and security (22%).
RIM VP software and services of EMEA Rory O’Neill said the key to success is preparation and small businesses are looking to achieve this by implementing the right infrastructure to take advantage of the opportunities available.
"The ability to work on the move, without impacting customer relationships or frequency of communication, worrying about security breaches and client confidentiality, is vital to allow businesses to keep growing," O’Neill said.
