Small businesses show 'resilience', says survey

Date: 6th February 2008

A major new survey of small UK firms has revealed that the majority of the country's business owners are looking forward to the next 12 months with confidence.

The NatWest and RBS Small Business Monitor discovered that 36 per cent of smaller enterprises expect sales to increase during 2008, with ten per cent planning to recruit more employees as the year goes on.

According to the research, many small business owners have adopted a resilient attitude and continue to look for ways to improve their services, despite well-publicised challenges such as the capital gains tax reform and other legislative pressures.

"There was no knee-jerk reaction to sell businesses to avoid proposed tax increases - instead entrepreneurs have rightly prioritised the issues within their control," said Steve Pateman, chief executive at NatWest and RBS Business Banking.

"Staying ahead of the competition remains the chief concern, ahead of government legislation and red tape," he added.

The Federation of Small Businesses has recently launched a new campaign encouraging sole traders and small company owners to report incidents of crime to the police more regularly.