Small businesses may be jeopardising their futures with poor marketing and branding and limited use of promotional techniques, according to a Barclays Bank review.
Only 4 per cent of small businesses use branding to promote themselves, says the report called Marketing and the Small Firm which was produced with The Chartered Institute of Marketing.
“Marketing is a key business tool which can aid business development and growth, and design is a fundamental part of marketing,” says Barclays small business services director Mike Davis.
There are 470 000 start-ups forecast for 1997, with only a quarter likely to carry out market research. The average small business spends 1500 on promotional activities a year.