Marketing to UK Businesses
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Almost half of the businesses that exist in the United Kingdom are either small companies are medium sized firms. These companies were responsible for employing well over 21 million people, and they provided a heft contribution to the UK economy by generating a combined total of 2.2 billion. What this shows is that there is a large market for those that wish to market to smalle to medium sized businesses in the UK. These companies are in need of a number of products and services, and these services need not be limited to organizations that are based in the country.
The statistics that are provided in this article do not deal with non-profit organizations or institutions that are operated by the government. They deal strictly with businesses. At the beginning of 2003, statistics show that there were over 4 million businesses operating in the country. Because there are so many small businesses operating in the United Kingdom, they are in need of a number of services that may differentiate them from large corporations. Many of these companies are offered by sole proprietors. A large percentage of these companies do not have any employees. The products and services that can be marketed to this individuals are vastly different from the products and services that will be marketed to large corporations. Sole propietors may be in need of things such as health insurance, or accounting services.
More often than not, these business owners will not have the capital to afford many of the services or products that are commonly used by large multinational corporations. There is a market for businesses who are looking to tailor their products and services towards start up businesses that do not have large amounts of capital. A number of studies show that the vast majority of small businesses in the UK are owned by families. In addition to this, these families are offering their products towards the service sector. Of these small businesses, practically 50% of them are operated by males. In addition to this, a number of these males are ethnic minorities. Those who wish to market to businesses in the UK should not that many of these businesses have a relative high turnover.
In most cases, a small business started in the United Kingdom may not last longer than two years. You may be wandering why I'am putting such an emphasis on marketing to small businesses rather than larger companies that are established. There are a number of reasons for this. First, small to moderate sized businesses make up a large part of the economy of the UK, even if they exist on average for only two years. These businesses are in need of products and services that differentiate them from larger companies. In most cases, larger companies will already have established vendors that they used to purchase their products and services. In most cases, these companies will be unlikely to switch to a new vendor unless they have a compelling reason to do so.
Small businesses, on the other hand, may not have established vendors. The marketer who wants to succeed in the UK will want to focus on small businesses that are in need to products or services in order to get their operation off the ground. By offering low cost services that are high in quality, you will win their loyalty quickly. You can mutually benefit each other. You can offer them services which will allow them to succeed with their business, and they will continue to come to you as their vendor. In the United Kingdom, a new business is defined as a firm that is less than four years old. A large percentage of people living in the UK said that they decided to start a business so that they could be their own boss.
However, a large percentage said that they wished to start their own business so that they could learn a new skill and make money from it. The shrewd marketer who read the last sentence should seen an interesting opportunity. There is a sizeable percentage of the British population(about 15%), that are looking to learn a new trade or skill that can allow them to start a business. Marketers could offer training classes that could allow British citizens to learn vital skills that can allow them to become profitable. Some who are reading this may be thinking that they have to travel to the UK in order to do this. However, this may or may not be the case.
If you want to teach a skill that can be digitized, such as programming, accounting, web design, or even engineering, training courses can be offered over the internet. However, if you wish to teach a skill that requires you and your clients to be physically present, you will have to relocate. To become a successful marketer in the United Kingdom, it is important for you to understand your market. You must know what they need, what they are looking for. Because a sizeable percentage of small businesses in the UK fail within the first two years, this may be a sign that they are in need to capital. One of the primary reasons why businesses fail is because they run out of money.
If you are an investor with sizeable amounts of capital, you could offer your services specifically to small businesses in the UK who are looking to expand their operations. Before you do anything, it is important to become familiar with the laws and regulations of this country. There are various guidelines that regulate businesses or foreign companies that wish to operate in the region. It is also important to keep up to date on the economic issues that are effecting this country. They could have an effect on your business. By understanding the economy and the laws and regulations that are related to doing business in the UK, you will have an edge on your competition when you market your products and services in the region. This is crucially important, and should not be taken lightly.