News

Aussie Smes Remain Competitive

November 5th 2014 - Wednesday

Small business owners in Australia are implementing a raft of new strategies to ensure they remain competitive – testament to their resilience and tenacity. These include:

  • 41%: Investing in an online or social presence
  • 29%: Price discounting
  • 26% - increasing marketing and advertising
  • 26%: Negotiating better deals with suppliers
  • 26%: Increasing the range of products sold
  • 23%: Forming alliances with other businesses
  • 19%: Investing in new technology
  • 15%: Considering longer opening hours

“The Australian Attitudes to Small Business Report” commissioned by American Express as part of its national Shop Small campaign, which aims to reconnect consumers with small businesses, found that three quarters of small business owners say it’s getting harder to operate, with 41% investing in an online or social presence. “Small businesses are increasingly competing in a proliferated and cluttered market,” said Martin Seward, Vice President & GM, Small Business Services at American Express Australia.

“But despite all of their challenges, time and time again they demonstrate a commitment to adapting while still maintaining an absolute commitment to customer service – a key focus for half of the small business owners surveyed,” Seward said.

He added that the research also shows that small business owners have a true passion for what they do regardless of the challenges they face, with 56% saying they would recommend small business ownership to family and friends.

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