06/04/2011
Small businesses are looking forward to a prosperous 2011, a new report has suggested.
The Business Confidence Survey by the Chartered Institute of Management Accountants (CIMA), showed that 98 per cent of businesses were confident in their own survival, with 60 per cent believing that the UK was out of the recession and not about to experience a "double dip".
Of those surveyed, a quarter of respondents expect to take on new staff, may of whom making the most of the government's £1.4 billion funding initiative to take on and train apprentices.
Director of policy at the British Chamber of Commerce, Adam Marshall, told wirralbiz.biz about the need for small businesses to be given financial information about what options are available to them. "Access to finance is a crucial issue for Britain's small and medium sized businesses," he said, "and it is important that they have a clear understanding of the support that is available to them."
Such options include sales finance and factoring, which allows businesses to generate cash flow and credit against their outstanding invoices.
Executive director of the brand, profile and marketing arm of CIMA Ray Perry told smallbusiness.co.uk of what UK business owners expect in the near future, saying: "The majority still feel confident of their own business survival," he said.
David Howells