Where do the priorities of businesses lie in 2014?
Deciding which aspects of business to focus on can be the difference between success and failure – a reason why these decisions should not to be taken lightly.
Business growth and expansion is the aim for many small businesses, who listed aspects such as diversifying and selling internationally as their key points of focus.
The coming year should see the continued recovery of the economy, alongside potential growth in many different sectors.
A further focus on moving into affiliate marketing was also considered to be an important aspect among companies looking to progress.
Planning growth in 2014
The latest study involving SMEs from across the UK found that many had very varied ideas about how best they could develop.
Paidon results carried out the study involving 975 SMES, with every business discussing how they intended to ensure growth in 2014.
They were first asked about their expansion plans and whether or not they had ideas of how to do it – 91% responded positively and these companies were then asked for feedback.
Most companies have reasons to be positive following the economic crisis, although the number of businesses that ceased trading or entered administration during that period means that some concerns remain.
The top ten priorities
The main focus for businesses for 2014 was to diversify their products and services, enabling them to offer more.
While 31% of businesses listed that as a priority, a further 28% said they were considering expanding internationally, while 22% wanted to invest in affiliate marketing.
Investment in advertising and search engine-optimised content were both the focus of 19% of companies, while seeking funds was listed by 15%.
Elsewhere, investing in public relations and staff members were also factors being considered, while 8% were keen to cut their outgoing costs, including saving on energy.
The last consideration in the top ten focused on merging companies, with 4% of those questioned saying they were thinking about such a move.
By Phil Smith