The British Chambers of Commerce suggest that SME marketing should be targeted and consumer focused – even before it is in its planning stage.

Urging entrepreneurs to find their audience, a spokesman for the chamber says: ‘If you are promoting yourself to the wider public, you need to get your marketing campaign going and create a buzz about your product.’

He adds: ‘Once you’ve researched your audience, you can go from there. It depends on your target clients how you move forward.’

Meanwhile, ambitious small businesses have been told that effective networking can lead to rapid growth.

The National Federation of Enterprise Agencies (NFEA) claims that other firms and institutions can become both potential advisors and prospective consumers.

According to the department for business, enterprise and regulatory reform, small businesses account for 47.1 per cent of business employment.