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recent releases from Leicester Shire Development Agency, Business Link for Leicestershire and Business Link Lincolnshire & Rutland | 
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30 October 2001
PRESS RELEASE
FIRMS PLAN CHANGES TO COMBAT LEAN TIMES AHEAD
The biggest survey of Leicestershire businesses ever undertaken reveals firms making plans to swim against the tide of a shrinking economy.
The Business Link for Leicestershire study shows more than 80 per cent of businesses want to grow in the next two years even though less than ten per cent believe the economy will improve in that time.
Firms believe they must change in three key areas to achieve growth in the next two years:
· develop new products
· find new markets
· get new customers and keep them
There was good news for Business Link with hundreds of respondents saying they believed the organisation could help them. More than 200 asked to be contacted immediately by Business Link advisers, and nearly 60 per cent expressed interest in plans for a new business growth service.
Mike Jewitt, operations director, said: “The results from this survey are critically important to us as they clearly set out the ambitions and needs of our potential customers. That means we can continue to tailor our service to them and make our plans with confidence.”
Compared with results from the same survey in other areas, more Leicestershire firms are looking to diversify. This is important for Business Link, which is currently encouraging firms in the clothing and textiles sector to find new products and markets.
A higher proportion than in previous surveys are also looking at tightening financial controls reflecting growing unease about economic prospects.
Firms that had previously worked with Business Link made up 360 of the total responses and gave a glowing testimonial.
Customers said the business services provided by Business Link had increased sales and productivity, cut costs, raised profits, developed new products, opened up new markets and improved workforce skills.
The survey, which was completed during September, was mailed to 7,000 Leicestershire businesses. The 900 respondents, whose turnover ranged from less than £100,000 to more than £20 million, were asked questions about the economy, their businesses and Business Link services.
The response rate of 13.2 per cent was almost double the rate achieved when the same survey was carried out in London and well over the average for the 20 areas that have used the same survey previously.
Ends
For further press information,
CONTACT Duncan Hopwood on 0116 254 4472
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