Nearly half of all small companies have been forced to turn down business at some point, according to new research.
The most common reason cited for turning down work was that the business did not have the relevant expertise to take the business on (30%).
A further 13% of respondents said they did not have enough time to manage all potential business that came their way.
Respondents also cited ‘ethical’ reasons, lack of staff, unrealistic demands and lack of trust or confidence in the potential client.
Lilach Bullock, managing director of Asklilach, said: “Small business success relies on knowing when to delegate, collaborate with other businesses, outsource or pass business onto associates who might be better placed to carry out the work – reputation is everything.”
Bullock said outsourcing was not always considered by many small businesses but could be used as an efficient way to save both time and money.
“If small businesses are playing tough with new business then that can only be a good thing – there is no point taking on a client who might cost the business money or doesn’t fit the desired profile,” added Bullock.
“Business support networks, however, really must play a role to ensure that small businesses can make the most of genuine opportunities.”
© Crimson Business Ltd. 2007
