Small businesses in London are confidently defying the downturn
A quarterly diversity and ethnic group report from Business Link, The Diverse Business Confidence Index, has been set up to help establish how much the economy is affecting small businesses in London.
The most recent instalment, which surveyed over 3,000 small businesses in the capital, shows that a massive 84% are looking to grow and expand next year, despite bearing weight from the recession.
While almost 40% say that the recession has significantly impacted their budget and expenditure, nearly two-thirds of all surveyed said that they are optimistic about their business over the next 12 months.
Patrick Elliott, chief executive of Business Link in London, said: “What’s telling from this index is that this confidence is across the board – many entrepreneurs across regional, industry, and demographic groups are responding to the recession by aggressively seeking out new market opportunities.”
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