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Small and medium sized businesses (SMEs) in the UK are embracing emerging technology and new forms of media to grow their businesses during the downturn, according to a new survey.

Almost four in ten SMEs (38 per cent) have set ambitious growth targets and, of these, more than one in ten are exploiting mobile marketing Internet sites or services for business, the Business Culture Index, produced by Kantar Media in collaboration with SME think tank CultureMap, has found.

Indeed, SMEs with aggressive growth targets are significantly more likely to prioritise marketing and, despite the past tough year, are 54 per cent more likely to have increased their associated budget.

Just under one quarter of aggressively growing SMEs use search engine optimisation sites, against a sector average of seven per cent, while 23 per cent use social networks such as Facebook and LinkedIn to promote themselves.

One in four SMEs use company websites to promote themselves while 29 per cent rely on word of mouth recommendations.

Daniel Flynn, director at Kantar Media, said: 'Media owners and marketers need to be conscious of the enormous potential value of those SMEs who are seeking to exploit new media and digital channels and who use the downturn as an opportunity to market themselves and thrive rather than simply get by.

'With SMEs accounting for 56 per cent of the UK workforce and 52 per cent of its turnover, it is a market whose importance and potential should not be underestimated.'

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