According to the survey of 267 businesses, a fifth are planning to change their business strategies specifically so they are able to challenge their larger competitors. In all probability, they’ll make it work, too: because while large businesses often have the money to break into new markets quickly, they’re not as adaptable to changes as smaller businesses, which find it far easier to react to new trends.
If it’s as widespread a trend as RIM’s findings suggest, it could have an effect on unemployment figures: if businesses are looking for workers with experience in areas the public sector has pulled out of, it follows that they’ll need ex-public sector workers to help them understand the market. In fact, it may already have done so: the most recent unemployment figures, published last week, showed it had dropped in the three months to April (although, admittedly the number of people claiming Jobseeker’s allowance was up).
Still: if the survey is anything to go by, that’s a trend that may well continue. Despite doom and gloom continuing to dominate the headlines, growth is very much the name of the game, apparently. Because while 66% of businesses admitted they still feel uncertain about the economy, 45% say they’re planning to spend the next few months focusing on expanding, while 37% are looking into new areas.
So a bit of encouraging news, for small businesses, at least. UK plc, on the other hand, had better watch its back…