Fingers crossed for a better 2010
Jan 05 2010
SMEs hope for a better year
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SMEs say an economic recovery will help their businesses more than easier access to third-party finance.
Some 38 per cent of businesses say better trading conditions is their top wish for 2010, while 14.4 per cent would like to see an improved work/life balance and 7.4 per cent hope for more access to finance.
David Thomson, chief executive officer of Close Invoice Finance, says: ‘With the insolvency service reporting 4,716 new corporate liquidations in the third quarter of 2009 – an increase of 14.6 per cent on the same period a year ago – it is no surprise that so many business owners are wishing for a better economy.’
Of the 505 businesses surveyed, 30 per cent said market volatility was their biggest worry, while 20 per cent cited cash flow as a major concern.
According to research from the British Chambers of Commerce, 63 per cent of businesses are planning for another tough year ahead.
It is widely expected that the 2009 fourth quarter GDP figures released in March will show that the UK emerged from recession at the end of 2009.
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