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London’s SMEs remain defiant

Nov 03 2009

SMEs in the capital say that the recession is now having less of an impact on their business and levels of optimism.

Some 40 per cent say they are not planning on making further changes to their business to combat the recession, compared to 24 per cent in July, according to a poll by Business Link in London.

Patrick Elliott, chief executive of Business Link in London, says: ‘Small businesses have always been resilient during times of economic upheaval due to their ability to adapt quickly. This flexibility, combined with their survival strategies and optimism, are likely to have shielded some businesses from the full force of the recession.’

Of the 3,300 small businesses surveyed, only 20 per cent said they were concerned with customer spend in October, compared to 36 per cent in July.

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