With so much competition in the market (often from large international companies), SMEs are increasingly reporting their sales and margin are under threat. Trying to match these larger competitors on price can often prove financially disastrous. Playing to the strengths of small business and using size to an advantage through innovation can have significant impact on a business’ bottom line and sustainability. Our frugal approach to innovation does not require a large R+D budget – but it can result in improved product lines, sales and market share.
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