Largest area of projected investment within SMEs is marketing, survey shows
The new research shows that more than two-thirds of entrepreneurs consider economic volatility to be their most significant problem
More entrepreneurs and small-and-medium-sized enterprises (SMEs) now regard marketing as a priority area, as they look to develop their consumer base. This is according to Darren Upson, a director of small business at cloud accounting software provider Xero. The National Development Plan (NDP), a government blueprint for eliminating poverty and reducing inequality, has ambitious goals for the SME sector — including a target of 90% of employment opportunities to be created by this sector by 2030. Xero, in partnership with World Wide Worx, recently conducted a survey of 411 small-business owners, which showed that 35% of the country’s entrepreneurs were concerned about cash-flow issues, while 23% were worried about future sales. The survey also highlights that 68% of entrepreneurs considered economic volatility to be their most significant challenge, and that 62% reported a decline in consumer demand. Upson said it was no surprise then to find that the largest area of projected invest...
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