downturn

Downturn one year on: 35% of small businesses still unaffected

Downturn one year on: 35% of small businesses still unaffected

Three quarters of small businesses put survival in the recession down to the strength of their own determination and initiative. Six months after the Office for National Statistics (ONS) officially announced that the UK was in a recession, a new report from Intuit, provider of QuickBooks financial management software, reveals how small business Britain has been holding up over the past 12 months. The results of the research show that while one in twenty businesses have been impacted so severely by the recession that their survival may be at risk, encouragingly, one in four felt no noticeable effect and 35% had felt a negligible impact. This can be largely attributed to the sensible business decisions they have made, with three quarters of the businesses interviewed stating their survival w... »