Survey reveals why businesses don’t grow

The survey identifies the top five barriers that are hampering the development of UK businesses with a turnover of £5-25 million. The survey has been compiled by business growth consultant Sean Welham. The results came from answers given to a free online self-assessment tool designed to help businesses identify their weaknesses, and was conducted over the last three months. The top five barriers are: - A lack of understanding of customer needs - A failure to develop compelling value propositions - Poor new product development processes - A failure to price for value - A lack of market insight Welham said that the results of the survey were not surprising but that it was encouraging that companies who had taken the online survey had shown a desire to try and step outside their normal way of thinking. He added: “An approach that helps businesses to question themselves is often the best framework for growth. It is all about learning to identify which areas should be given priority and how to use skills effectively.” The self-assessment tool used for the survey is still available on line. It measures eight core strategic competencies, broken down into 48 observable characteristics. The test is based on a sophisticated model that looks at both the impact of a business's current activities and capabilities, identifying where skills are being underutilised and where problems may exist.