New research finds the UK’s SMEs are optimistic about the global economy and their role in it – and indicates that they are going ‘back to basics’ to unlock ambitious growth over the next 12 months.
The study also suggests that Britain’s SMEs could be ripe for international expansion. (more…)
With the UK in a period of prolonged recession or very low growth, and with the credit crunch affecting the economy, conditions are very difficult for a large number of small businesses.
The realities of a recession means that consumer spending is weaker and therefore any service provider, retail outlet or manufacturer that is reliant on this ‘consumer spend’ will find it hard going.
Despite the damaging effects of the economic downturn, there are plenty of examples of businesses who are surviving and even thriving. So what kind of business can see turnover go up in a downturn?
Some experts believe that the UK economy is already nearing a recession, whereas others believe the “credit crunch” has been overblown by the media. Either way, many small business people have already started to look at how they can survive a downturn. Here are some tips from the Bytestart team.