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Networking vital to thriving SMEs

Aug 30 2007

Social interaction is key to small businesses hoping to sustain a healthy level of growth, the British Chamber of Commerce (BCC) has claimed.

According to the BCC, networking is vital for thriving young enterprises looking to keep pace with their main competitors.

Underling the importance of business interaction, a spokesman for the chamber says: 'Any business looking to grow should look at networking.'

He continues: 'Engaging in networking is beneficial because the only way you can grow your business is by interacting with people.

'And you can only do that by meeting people, whether you are meeting them online or whether you are meeting them in person at events, word of mouth is very much the best way of getting your business out there.'

According to Lloyds TSB, there has been a reduction in the number of smaller firms closing in the earliest years of the business - boosting their survival rate.

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