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25/09/2009
Small businesses 'still pessimistic' as insolvency threat remains |
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Small and medium enterprises (SMEs) are less optimistic about their prospects than larger firms, the Forum for Private Business (FPB) has said.
A spokesman for the FPB stated that such companies lack the resources to cope easily with the downturn and therefore "by nature they have to be a bit more pessimistic and cautious in these times".
The spokesman added that access to finance has been a "big problem" for members of the FPB and is "holding them back" from developing.
Such a situation could leave more firms at risk of insolvency, something affected entrepreneurs may wish to see an insolvency lawyer about.
A survey unveiled this week by Amplify Research found that 57 per cent of SMEs said they expect the recession to go on affecting them for another nine months.
Of the businesses surveyed, 48 per cent stated their income had dropped by up to 20 per cent in the last six months.
Written by Anthony Dyson
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