Benchmarking Small Business Performance: Barriers and Benefits

Views: 400 Published: 21 Mar 2012 Average Rating: unrated Print

Benchmarking is now a commonplace term in business and many definitions have been proposed. Despite its
increasing popularity there is growing evidence that it is often used incorrectly. 'Benchmarking' seems to be
confused with competitive comparison studies, which are simply a component part of benchmarking.

This paper reviews previous benchmarking studies in general, identifying the background to its growth, and
benefits and barriers relating specifically to implementation by small businesses. Finally, the paper proposes
strategies that can be adopted to make better use of benchmarking for small business.

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