The long term expectations of UK small business owners and the successful retention of their employees

A survey in June by Ciao Surveys reported that twenty-eight percent of UK small business owners expect to run their business for more than 25 years and 20% expect to work to beyond age seventy.

UK Small businesses are successful at bonding employees and retaining them. 30% of the small business owners surveyed have an employee who has worked for them for more than ten years.

40% said that they had a very close, personal connection to their business and that their business failing would be similar to ending an intimate relationship.

Their outlook is positive. 75% responded that they intended to expand their businesses this year, despite the general concerns of an economic slowdown.

These are encouraging results given that small business in the UK is the driving force for employment and financial growth.

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