During and after the recession it has been difficult for smaller businesses to receive the funding that they required. In 2010 the big five banks of UK pledged £60 billion towards loans offered to SMEs. In 2011 they have promised to increase this amount to £70 billion. This is good news for small and medium sized businesses that need funds to implements expansion and growth plans. It is reported that Chancellor George Osborne met with the top management of the largest banks in the country. The role of banking in the growth of the economy and increase in employment were key topics that were discussed.

Most small and business owners consider 2011 to be a rather challenging business year. According to the Baker Tilly Outlook 2011 survey, business owners considered fall in demand and competitors who charge lower rates as the most worrying issues. A survey by YouGuv reported the 20% increase in VAT to be another issue that has entrepreneurs concerned. SME owners intend to meet this challenging year with interesting business strategies. This includes joint ventures, new products and services and expansion into new markets. It is important for businesses to use the internet effectively in order to reach out to their target audiences.

The face of advertising has been changing quite a bit over the past decade. It is now entered a whole new phase where digital marketing can not only be supported by print advertising but traditional forms of marketing can benefit from it too. Social media marketing is still considered to be in its infancy and businesses need to explore the many options that this cost effective form of marketing offers them. Businesses can use digital marketing in versatile ways and to their advantage. Marketing campaigns can be designed digitally and printed with low cost print-on-demand solutions.

According to a survey conducted by the Forum of Private Business, a majority of small businesses revealed that they were dissatisfied with their existing energy contracts. They described the service they received as poor. Of the total respondents 35% felt that it was difficult to change their energy provider, while 40% were of the opinion that their service contract was poor. 47% of SMEs thought they were paying too much for their utility services, and contractual issues worry them. It is crucial for energy and utility companies to offer transparency in their contracts and dealings with small businesses.