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Distance Learning Trade News
3 in 4 businesses expect to survive recession, research shows
Plumbers, electricians and other small businesses are confident that they will survive the recession, according to new research.
Three-quarters (76 per cent) of small to medium-sized businesses believe that they will survive, a survey by uSwitch.com reveals.
However, six in ten expect that they will have to find ways to cut costs during the recession, with the same number admitting that trading conditions have got tougher.
Just under a fifth (19 per cent) believe that the recession is having little or no impact on their business, while one in ten have admitted that the recession has been beneficial for them.
Will Marples, energy expert at uSwitchforBusiness.com, explained that many businesses are "optimistic" about their survival chances.
He said: "Most are already taking evasive action by starting to cut costs.
"They know this isn't the complete answer to surviving the recession, but it could be the difference between staying afloat and going under and will play a crucial role in the ongoing survival."
A survey by the Bank of Scotland conducted earlier this week revealed that a quarter of small business owners believe that deflation will be a positive stimulus for their firm during the downturn.
