Surrey Business School to explore how SMEs win new business
Kingston Smith LLP, the top 20 accountancy firm, has again commissioned Surrey Business School (SBS) to examine small and medium-sized enterprises (SMEs). In conjunction with academics at the University of Greenwich Business School, Professor Mark Saunders will lead the project, which will explore how SMEs go about winning new business.
The research will examine such areas as:
- The SME perspective on winning new business
- How to identify opportunities
- What level of priority winning new business is given
- When and how to enter new markets
- Innovating and overcoming barriers
- Measuring success
The findings will be based on data gathered from over 1,000 SME business leaders across the UK from a range of industry sectors.
The University of Greenwich’s Professor David Gray, explained: “With economic recovery underway, sustainable growth and winning new business is vital for all SMEs.
“One of the areas we will be focusing on is the rationale behind winning new business which may include taking advantage of an upturn in the SME market, increased competition, risk-taking to fuel growth, innovation and technological developments requiring increased skills.”
Professor Saunders commented: “Another core theme we’ll be exploring in our research is how business opportunities are identified. Do information needs differ between national and international markets as well as what strategic approaches are taken to innovation in terms of speed and risk?
“We believe that this report will demonstrate significant insight into how SMEs win new business through entrepreneurship and innovation; and therefore how they grow and flourish.“
Paul Samrah, a partner at Kingston Smith, added: “We are delighted to be working with the Universities of Surrey and Greenwich on a project which goes to the heart of entrepreneurs and small- and medium-sized business owners.
“Understanding how SMEs approach winning new business, and identifying what triggers them to search for innovation and new markets, will prove to be invaluable to entrepreneurs and future business owners.”
The research will be completed in autumn and findings are expected to be published later in the year.
The report represents the fourth study SBS has conducted with Greenwich for Kingston Smith, following successful reports into networking for small businesses, the challenges for SMEs in securing finance and how small businesses can be successful in challenging times.