Marketing: many SMEs fail through lack of marketing expertise
Britain's small business sector is booming. In the first six months of 1997, nearly 270,000 fledgling enterprises opened their doors to customers for the first time - the first sustained rise since the late '80s. Sadly, however, a high proportion will also be closing their doors for the last time, and many will close for one simple reason - lack of marketing expertise.
Most entrepreneurs accept that there is a long list of things they would like to know more about - time management, financial management, personnel skills, and so on. And yet marketing remains a blind spot. According to recent research by Barclays Bank, over two-thirds of entrepreneurs refuse to accept that they need to learn about marketing.