Research is one of the most important thing in a business especially the SMEs. Some business tend to overlook the idea of doing research be it on their competitors, their customer or their market and they end up losing the bigger picture of how they are going to run the business effectively. The practice can also be very intimidating when your business is running on a tight budget. At this point, you may not see the relevance of doing research but the truth of the matter is that research is very vital for the progress of your business.
Bigger business are benefiting from doing the research on their customers and the SMEs can learn one or two things from them. The SMEs can still do research when they are on a tight budget. How? Having a tight budget means that they are going to have to be more flexible and think intelligently on how they are going to do the research to their advantage.