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In this report we focus on topics that effect small and medium-size enterprises such as financing, marketing and telecommunications.
Can help with financing, borrowing rates
Developing a strong relationship with a bank should be a top priority of small and medium-sized enterprise (SME) owners because it can help with crucial issues such as securing financing, lowering borrowing rates and dealing with potential cash crises.
Must boost productivity to thrive in competitive global market, experts say
Experts agree that SMEs are poised to outpace the rest of the economy in 2004 but say they will need to stay on their toes in order to take advantage of low interest rates, a burgeoning service industry driven by increased consumer spending and a growing global economy.
Companies must hone their export strategies and plans to the final detail -- not always a natural inclination for entrepreneurs -- and they need help from those who have been through it before.
Michael Coderre used imagination and good advice to build his Soup etc! chain
From the outset, his plan was to do for gourmet soup what Starbucks Co. had done for coffee, taking an every day consumable and getting customers to look at it in a different way.
Web, sponsorships among approaches
While the days of word-of-mouth recommendations and boldface entries in the Yellow Pages are alive and well, small and medium-size consulting companies, accounting and law firms are increasingly taking the direct approach, harnessing everything from targeted e-mail-marketing to seminar and charitable-event sponsorships to newspaper advertising to step out from the shadows of their big-name rivals.
Plan for a buffer in case it doesn't
Making sure everything adds up, planning for a buffer in case it doesn't and accounting for future growth can become a giant headache if you're not prepared.
For non-technology SMEs, it's just not worth the risk buying, implementing and servicing bleeding-edge products.
Phone companies trying to provide service bundles to make one-stop shopping easier
Like most small business owners, Mr. Hoey buys his telecommunications and computing services and support à la carte, some from this company and some from that.