For many firms, an inevitable response to a downturn is to examine the firm’s overheads, and trim expenditure on all but the most essential. It is also inevitable that the firm’s marketing and business development budgets will fall under the microscope.
As far as business development is concerned, one major problem with this approach is that it concentrates on quantity rather than quality. The question to ask should not be how big the budget is, but rather what it is spent on and whether that spend results in increased profitable business for the firm.
