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Survey suggests small businesses are more optimistic for 2010

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Optimism among smaller and family-run businesses firms about their economic outlook for 2010 has increased "dramatically", according to new research.

A survey by business advisers Grant Thornton showed they were much more positive about their prospects than a year ago.

Revenue predictions among the family businesses and SMEs also increased, while two out of five firms expect to see an upturn in the economic climate in the second half of 2010. And 20% believe it will come earlier.

Indicia Training, one of Scotland’s leading business skills and IT training providers, is one of the country’s family-run SMEs experiencing such optimism.

Over the past year, the firm has seen has a 55% year on year increase in the number of new bookings. Indicia Training’s general manager, Howard Teale, says 2010 is looking to be their best year to date.

He said: “Family businesses account for 65% of the total 4.5 million private sector enterprises in the UK economy and provide over 30% of GDP so they have a huge contribution to make to the economy. Family-run businesses also tend to be highly competitive so are perfectly placed to help ensure the country comes out of the recession sooner rather than later.

"I believe that companies like ours, which have continued to place a strong focus on the skills of their workforce, and continued to invest in their people will be the ones who emerge stronger than before and will be better placed than their competitors to capitalise on the available opportunities.”

Posted January 15, 2010
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