One quarter of small businesses unaffected by the recession
News reports continue to chart the effects of the recession, with one headline stating that the decline is the “worst recession for over 100 years”. So it’s refreshing to hear that it’s definitely not all doom and gloom – and that the UK’s small business sector is confidently fighting back.
A recent report on Bytestart.co.uk, which charts the performance of small businesses over the last 12 months, shows that one quarter of small businesses were unaffected, and a massive 35% had only felt a “negligible impact”.
The majority of small businesses felt that their ability to survive was down to their own strength and determination, while 45% reported that their tactic was to reduce overheads and tightly manage outgoings.
Furthermore, almost one third of businesses chose to introduce new products or services by way of tackling the decline – a positive approach which, if successful, could put these small businesses in a much stronger position once the decline subsides.
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