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Attendees of the day 'Innovation of business models in family SMEs' held yesterday in the Science Park of Murcia found in the first person the benefits of analyzing their business models.

Three professors from the Faculty of Economics and Business of the University of Murcia unveiled the European project ENVISION aimed at investigating how European SMEs can innovate successfully.

The project, made up of nine institutions and companies from seven countries, has thoroughly examined over 100 European companies and collected data from more than 3,000 companies during the last three years.

Likewise, the main results of this research were presented by Professor Carolina López from the Department of Business and Finance Organization of the UMU, and showed the portal www.businessmakeover.eu, available in seven languages ​​and showing more of 30 tools developed to easily guide SMEs step by step to innovate their business models.

Ángel Meroño, director of the Mare Nostrum Family Business Chair, said during the conference that "in the face of the image of a conservative company, family SMEs are characterized by their entrepreneurship and innovation as an engine of competitiveness to ensure the continuity of their business projects" .

In addition, the company Bee Social shared its success story through the object of analysis and the change of business model, explained by Professor Francisco Molina, Department of Marketing and Market Research UMU.

The day ended with a round table discussion where some of the companies participating in the project (La Pastora, Rapsodia and Traders Matt) debated with Victoria Diaz of the Institute of Development on opportunities and barriers to innovation.

In the opinion of the participants, the main barrier is the uncertainty about their capabilities.

The project ENVISION, protagonist of this day, through the portal presented provides the keys to self-diagnosis and tools to analyze the changes in the business model more advisable according to the characteristics of each company.

ENVISION is supported in the Region of Murcia by the Institute of Development as well as by various institutions such as the Mare Nostrum Family Business Chair, Amefmur and the Chamber of Commerce, all present in the day of dissemination together with the Office of Transfer of Research Results of the UMU.

Source: Universidad de Murcia