21/03/2011
Small and medium-sized enterprises (SMEs) across the UK are looking forward to the Olympic Games next year, believing the event will help to further improve the British economy.
That's according to recent statistics released by Cisco, published on Microscope.co.uk, which showed that 41 per cent of SMEs have begun to realise the enormous opportunities provided by the upcoming event.
Furthermore, 39 per cent recognised the huge role the Games could play in improving the UK's economy - not just in London, but in all areas. On a different note, 44 per cent of respondents to Cisco's survey also confirmed they had increased their sales over the past year.
A spokesperson for Cisco, David Critchley, spoke out about the results, claiming: "That almost half of SMEs increased their revenues in 2010...is testament to their role as the engine room of the economy."
However the figures did highlight that over half of SMEs hadn't experienced increased sales. Those still struggling to turn a profit could considering freeing up some cash to invest back into the most important areas of their business.
Using services such as invoice factoring to release funds could help SME owners invest into their production or manufacturing areas, for example, in a bid to increase their sales. Doing this ahead of the 2012 Games could go a long way to leaving them on an even keel and able to make the most of the opportunities made available by the event.
Freeing up cash this way could also be an option for the 55 per cent of SMEs hoping to improve their network and IT infrastructure throughout 2011; in addition to the 35 per keen to make an investment in video conferencing facilities.
According to RealWire.com, 25 per cent also have plans to embrace cloud computing for their business.
Deborah Bates