British businesses show 'fighting spirit'

Date: 17th December 2008

British businesses are demonstrating a fighting spirit in the face of oncoming recession, a new survey has shown.

Data from XLN Telecom's recent investigation into business start-ups showed that a third of firms believed this Christmas would be no worse than last year in terms of trading.

Surprisingly though - considering the economic situation - nearly 15 per cent of enterprises showed particular resilience by suggesting that they were expecting to do even better than 2007.

Chief executive of XLN Telecom, Anthony Karibian, said: "Much of this resilience comes from their ability to rapidly adapt to changing circumstances … combined with a highly entrepreneurial drive."

He added that judging from the survey results small firms would not be frightened to make any necessary changes to their business operations over the next year.

One of the first things companies will have to deal with in 2009 is their self-assessment tax returns, which must be submitted to HM Revenue and Customs by January 31st.