The recession apparently hasn't cut so deep as to completely eliminate research and development budgets. The FSB-ICM "Voice of Small Business" Annual Survey 2009 has indicated that lots of small businesses are managing to introduce new (or at least improved) products.
According to a statement released by the Federation of Small Businesses, "53 per cent of businesses introduced new or improved products and services last year, and 51 per cent intend to continue innovating next year, showing that small businesses are keen to grow and develop, despite the tough times."
Indeed, those percentages would sound impressive even under much better conditions - consider that automakers, with their $15,000+ products, tend to refresh models only every three or so years - so small businesses appear to be doing a good job of keeping things fresh.
Then here's what the FSB rightly described as more good news: "27 per cent of the 10,000 respondents said their profitability increased over the last year and 30 per cent said their sales volume had increased over the last financial year."
Let's hope these trends stay evident as we move into 2010.
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Comments
The Hope for the Economy in Small Businesses
I first want to start off by saying that I enjoyed readnig your post, and it seems as though you have done your research.
I hope you are right about the small businesses contnuing to grow.
Hopefully something will be done about it, but things still look grim to people.
I think your article gives people hope, and with that said, I think it will make people more positive despite the economy.
It is a true fact when people think positively, positive things come their way. Even with failure, if you continue to stay positive, it will eventually pan out.
I think this article will give alot of people some hope, and help this economy to grow right out of the state it is in.
Let's continue hoping and praying!
Melanie
Re:
A good idea, very well, thank you!
Small Business
More than half of businesses have resisted the worst of the recession by innovating, creating new products and services, according to a new survey by the Federation of Small Businesses (FSB) and ICM.
It's been a rocky road for a
It's been a rocky road for a lot of small businesses, but things look set to change. The economy is bouncing, especially within the tech industry recording massive profits fo rthe first quarter. As things get more and more stable, banks should start lending once again helping those that really need to grow and develop.
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