We can confidently agree that the SME sector is the backbone of most developed economies, as well as the important contributors to employment contributing to 48% of the nation’s GDP. Despite the noteworthy contribution of SMEs to the American economy, some challenges still hinder the growth and development of the sector. Being the key drivers of the economy, we have designed products and services that create solutions for SMEs growth and sustainability at Global City Trust.
The COVID-19 outbreak is creating a global economic slowdown, affecting trade and investment which unfortunately SMEs are being hit the hardest, making the need to aim at unlocking growth and development crucial.
GROWTH AND DEVELOPMENT GOALS
Solutions are needed to give SMEs the support they need to thrive and continue to contribute to the economy and nothing could have prepared them for the hard hit they received from the COVID-19 crisis. On this site, we are providing insights to small businesses searching for ways to thrive and deal with the functioning stress caused by COVID-19.
Here are some strategies to help your SME thrive:
- Develop Innovative Practices: Developing innovative practices can help in adapting to the changing market conditions caused by the COVID-19 crisis and in staying ahead of competitors.
- Focus on Core Competencies: Small business owners often simplify the concept of “diversification” to being “different” by adding other products or services to the already existing offerings. Instead, focus on what your business does best that is most profitable.
- Win the Competition’s Customers: Continuing to expand your customer/client base will definitely make your business prosper in tough times. This means drawing customers from your competition by offering something unique.
- Make the Most of Current Customers: Excellent customer service ensures that your customers or clients love what you do or sell and keeps them happy. Identify their needs and meet them to keep them coming back.
- Don’t Cut Back on Marketing: Most small businesses make the mistake of drastically reducing their marketing budget in lean times. Instead, step up your marketing efforts to make your business top of mind to your customers and clients.
At Global City Trust, our SME solutions are designed to help Small and Medium-Sized Enterprises in America grow and thrive. We offer strategic advisory services, business seminars, and product solutions to guide you in growing your business. Grow your business, scale up today!With about 17.4 million enterprises, it is no denial that SMEs account forms approximately 50% and 90% of both industrial jobs and the manufacturing sector respectively.
We can confidently agree that the SME sector is the backbone of most developed economies, as well as the important contributors to employment contributing to 48% of the nation’s GDP. Despite the noteworthy contribution of SMEs to the American economy, some challenges still hinder the growth and development of the sector. Being the key drivers of the economy, we have designed products and services that create solutions for SMEs growth and sustainability at Global City Trust.
The COVID-19 outbreak is creating a global economic slowdown, affecting trade and investment which unfortunately SMEs are being hit the hardest, making the need to aim at unlocking growth and development crucial.
GROWTH AND DEVELOPMENT GOALS
Solutions are needed to give SMEs the support they need to thrive and continue to contribute to the economy and nothing could have prepared them for the hard hit they received from the COVID-19 crisis. On this site, we are providing insights to small businesses searching for ways to thrive and deal with the functioning stress caused by COVID-19.
Here are some strategies to help your SME thrive:
- Develop Innovative Practices: Developing innovative practices can help in adapting to the changing market conditions caused by the COVID-19 crisis and in staying ahead of competitors.
- Focus on Core Competencies: Small business owners often simplify the concept of “diversification” to being “different” by adding other products or services to the already existing offerings. Instead, focus on what your business does best that is most profitable.
- Win the Competition’s Customers: Continuing to expand your customer/client base will definitely make your business prosper in tough times. This means drawing customers from your competition by offering something unique.
- Make the Most of Current Customers: Excellent customer service ensures that your customers or clients love what you do or sell and keeps them happy. Identify their needs and meet them to keep them coming back.
- Don’t Cut Back on Marketing: Most small businesses make the mistake of drastically reducing their marketing budget in lean times. Instead, step up your marketing efforts to make your business top of mind to your customers and clients.