Canadian small business owners might be inspired by the success of the nation's recently named top companies
Private Company Services has recently announced Canada's 50 best managed companies. The companies span every region and industry, but they are linked by their top-of-the-line management teams and business practices. Small business owners might aspire to their caliber of quality business.
"In tougher economic times, great management shines," says John Hughes, a Deloitte partner for Private Company Services. Deloitte shared offered insight on key characteristics shared by the top businesses.
The companies given this distinction each invested in information systems in 2009. The best- managed businesses have used economic downturn to acquire systems at a reasonable cost; the investments have not only helped them stay afloat in trying times, but might also payoff in future periods of economic prosperity.
Additionally, the top businesses demonstrate an understanding of the notion that relationships are critical to business success. The management teams spent last year developing their connections with stakeholders and customers.
Deloitte also says these businesses confronted the volatility of the U.S. dollar. The management teams at these companies looked for consumers who don't use U.S. currency.
In keeping with the Private Company Service results, the Canadian Federation of Independent Business advises SME owners to look for ways to expand their products and services to a global market.
