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Businesses cold on Olympic legacy

The majority of small companies believe the London 2012 Olympic Games will not benefit their business in the long term, research finds.

The majority of small companies believe the London 2012 Olympic Games will not benefit their business in the long term, research finds.

The ‘Voice of Small Business' Survey Panel from the Federation of Small Businesses shows that 62 per cent of small firms believe that the Games will have no long term positive impact on their business, despite David Cameron’s view that the legacy of the Olympics will continue for years.
 
Only 7 per cent of the 1,674 small businesses surveyed believe the event will benefit their business overall, and a quarter (25 per cent) expect a negative impact on their business.
 
The FSB is concerned that when the bid for the London 2012 Games went through, it was sold on the basis that is would create a long legacy for the country, yet small businesses do not believe that they will benefit from this.
 
With 200 days to go, the lobbying group is calling on the government and Olympics Authorities to ensure that small firms are aware of how they can reap the benefits of the Games and the tourism benefits that can come from them.
 
FAB national chairman John Walker says, ‘It is worrying that 200 days before the Olympic and Paralympic Games are set to begin, small businesses think it will not benefit their business. This is even more worrying considering the London 2012 Games was sold on the basis of its legacy.
 
‘We all know times are tough, but 2012 is a year of big events that small firms should be able to benefit from. The government and Olympic Authorities must help show small businesses how they can reap the rewards from one of the biggest sporting and tourism events the country has seen for years.’

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