The majority of small and medium sized firms could accelerate business growth by 400 per cent if they listened more to their customers and made better use of the feedback they get, indicates new research.
Academics from Kingston University found advice from customers has the biggest positive impact on UK small business growth yet almost half of companies miss out on this valuable insight.
The study also revealed that businesses which use consultants are 3.6 times more likely to have growth in their turnover compared to those that do not, while firms heeding advice from accountants are 2.6 times as likely to grow compared with those that don’t.
