T-Mobile research revealed that UK small businesses are increasingly looking for new ways to cut costs and guard against the impact of the credit crunch. Almost half (47 per cent) of all small and medium enterprises (SMEs) surveyed have considered implementing a flexible working policy within their organisations as a means to reduce overheads to meet the challenges of a slowing economy.
However, whilst most SMEs believe that technology is becoming more important in the current economy, many feel that service providers are not adapting their offerings to give them the flexibility and advice they need.
Less than half of SMEs (49 per cent) feel that their mobile communications contracts give them adequate flexibility to be able to react to an uncertain economy. This is despite the majority (84 per cent) of SMEs believing that technology is becoming more important in a slowing economy, and nearly half (47 per cent) who now feel under more pressure from employees to allow them to work flexibly compared with two years ago.
Supporting the research, James Caan, CEO of private equity firm Hamilton Bradshaw and Dragon for BBC Two's Dragons' Den, stressed the importance of small businesses to the UK economy as it enters into a recession.
Caan said: "We all know that our economy is built on the success of small businesses, which account for over half of the UK's turnover and employment. All businesses need to take stock and revise their plans and strategy to continue to be competitive, and that means streamlining operations, reducing costs and increasing productivity. The important thing to remember is there is never a bad time to start a good business."
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