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Media and Events
SMEs Avoid Marketing Plans SYDNEY: The majority of small to medium enterprises fail to create marketing plans, according to a recent survey from News Community Media.The survey found 58.9% of small business owners are not preparing an annual marketing plan or making any attempt to identify the cost or benefit of marketing spend. Access Management Corporation conducted the News Community Media SME index survey from 16 June to 17 July 2009, with nearly 2000 respondents nationally. Access Management Corporation managing director Steven Eager said many SME business owners do not understand what a marketing plan is or what value it can add. "SME owners are reluctant to use an adviser or consultant because of the cost, or simply because it can be intimidating for them," Eager said. "Consequently, if SME owners do not understand the benefits of planning, do not feel comfortable approaching a consultant or do not understand how they can help deliver a better result, they are not going to spend the scarce cashflow they have," he added. The survey found SMEs were cautiously optimistic about the next 12 months, with 50% of SMEs expecting growth in revenue and 49% expecting an increase in profitability. However, more than 60% rated revenue, profit and cash flow as being the major challenges faced by SMEs. Heather Jennings |
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