85% of UK small businesses say they will expand their business in 2010.

In a recent survey of 530 UK small businesses, Peopleperhour.com reported that the recession had a negative effect on only 25% of them. 33% said that the economic downturn produced a benefit since it had forced them to use technology and the internet to lower their business costs.

Another survey, by the Investec Entrepreneur Confidence Index, confirmed these results, showing that 90% of small firms say their revenue will increase in 2010. That study also reported that two thirds expect the economy to get better in 2010, 83% say the economy will not decline, 72% think that this year will be good for them and 46% intend to spend on new technology. 

UK business confidence is at a six year high. 

The UK economy grew by .1% in the last quarter of 2010, which means that the recession is formally over, but the GDP growth figure was less than what had been expected. There had been six consecutive quarters of negative growth previously, the longest negative period since the inception of the records in 1955. 

Accessing finance is still a problem for small firms. A survey by Graydon UK reported that in the last 6 months of last year, 40% of small business finance applications were refused, 52% had business loans rejected and 28% of overdraft extensions were refused. 28% borrowed from family or friends and 8% used personal credit cards for business purposes. 

So the positive spirit of small UK businesses has not been blunted and since the small firms will be the main vehicle for hiring new staff, that is important. 

We help by sending qualified prospects to them from our Local Search facility on our UK Business Directory at no cost to them. Most of the 1.6 million firms listed are small businesses.

 

Monte Huebsch, CEO.