2013 Advice for SME’s from CEO of RationalFX, Rajesh Agrawal…
For 2013, small companies should look to conduct more of their business internationally. Although Europe and the US remain high on the priority list, they are being outshone by Southeast Asia and China as the new market leaders
2. Think Outside The Box:
In order to have a competitive edge in this unstable financial market, innovative and ‘outside the box’ products are key in the next year. You have to come up with something new to be considered within the saturated market and stand out amongst the tough competition.
3. New Markets:
Budding businesses should be looking for exciting new markets with a specific move toward that of e-commerce
Take relief from the 10 point tax plan which will include a reform of corporation tax relief for start-ups, improve cash flow and R&D tax credit.
5. Beware of Increased Tax:
Increased property tax will make small businesses find it hard to stimulate growth. Make sure to learn from the rough economic crisis of 2012 and use the winning formula’s you learnt during this period to help you through the increased costs faced by new reforms.
6. Grab Opportunities:
Forget relying on traditional institutions, SME’s need to actively explore new opportunities at home and abroad and look to new financial institutions for support to take the business to a new level.
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