Good relationship with customers 'more important for small business'
May 16 2008
Developing a good relationship with customers and suppliers can be the key to success in small business, it has been claimed.
Business expert George Torak claims that while 59 per cent of SMEs plan to focus on branding in 2008, they would be better to look at the personal relationships they have with clients.
Torak says that business relationships are 'built on [the] individual connection, personal service and adaptability' which is only possible with small firms.
People looking for a unique restaurant experience visit independent establishments rather than their chain equivalent, Torak points out.
He advises business owners to take an interest in their customers, pointing out that strong relationships 'create loyalty' and satisfy 'an emotional need'.
According to the 2006-07 Annual Small Business Survey, which looked at 9,905 small firms, some 65 per cent of businesses with employees had ambitions for growth over the next few years.