In this volatile and uncertain environment, the key to SMEs long-term viability and profitability is to undertake business innovation. Meaning, making new introductions to, and/ or improvements across the business.
Studies have shown that persistently identifying and executing on innovative opportunities results in a significant contribution and improvement to SME revenue and business growth. (Source: The Impact of Persistence Innovation on Business Growth, Office of the Chief Economist, 2018)
Michael Haynes identifies 5 ways to innovate your own SME and drive business growth
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