Many enterprise businesses have looked at the SME sector and decided that they want a share of the money that 99.7% of UK businesses spend. I can almost guarantee that every person who reads this passle is a small business owner or they work within an SME (click the star above if you are part of an SME).
The problem is that these enterprise companies try to work out what to sell to us and most of the time they come up short. They believe that we have a specific set of needs - usually fairly simple - and they look to design something that will meet their perceived needs and their desire for an immediate profit.
Here's a suggestion: ask us what we need. Design something that will resolve the issues we have and then make it a sensible price. The SME market is never going away and so there is a big profit to be made if you get it right.
I hope this helps
SMEs are an untapped and viable sector that banks should be seeking to better serve, a survey has shown. A study of the banking needs and practices of 162 SMEs across the UK examined some of the myths surrounding what small and medium-sized firms require from their banking providers. Sophisticated sector The results found that, contrary to popular belief: SMEs are sophisticated and not restricted to domestic activities Banks can afford to serve the SME sector. The study was conducted by iGTB. It questioned SMEs – businesses with an annual turnover of less than £50 million or fewer than 250 staff – about their concerns over current bank offerings and what banking capabilities they wanted to see.