An Archive of News and Developments
According to a survey of businesses in UK, the biggest problem faced by small businesses is less customer spending. About 20 percent of the business owners who were polled by the Business Link for its Business Confidence Index mentioned that there was a fall in consumer spending and it is the major concern for the small businesses.
About 72 percent of the businesses are still feeling the effects of the downturn when compared to 63 percent past year which was when the country was technically in recession.
The entrepreneurs in London are primarily trying to decrease residual problems from the recession by refocusing on their core products and services or by cutting costs. There is a decrease in laying-off staff from 19 percent to 13 percent in the past 12 months. About 4 in 10 businesses believe that it is unnecessary to take some action to deal with the recession.