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Small Businesses Plan to Expand This Year

Small Businesses Plan to Expand This Year

Almost half of small firms are planning to capitalise on the economic recovery and expand in the next 12 months, according to research from Barclays. The survey of 3,675 small firms found that 49 per cent are planning to expand over the next year, while 34 per cent plan to consolidate their position. “A large number of small businesses are poised to expand when the time is right, perhaps taking advantage of any upturn in the economy,” said Barclays Local Business managing director, Steve Cooper. “While firms should be cautious about expansion in the current economic climate, the recession could present opportunities as other businesses downsize or disappear. “Any decisions to expand should be carefully considered, but there are good reasons to expand at the right ti... »