Small businesses showing 'resilience' during downturn

Date: 2nd February 2009

Britain's small business sector is showing an encouraging degree of resilience during the economic downturn.

That's according to one expert, who believes that smaller companies - such as partnerships and sole traders - are often in a better situation to react to financial turmoil than their larger counterparts.

An account manager for the advisory service Business Link, Chris Simpson, stated that this development was not surprising.

Mr Simpson commented: "Businesses are very resilient and very inventive in their aims to remain in business.

"Many successful businesses have managed to survive this current trend because they have had some kind of action."

Mr Simpson added that smaller businesses often had a "good handle on their finances", meaning they could react to the economic situation quicker.

The British Chambers of Commerce recently argued that small firms could be helped through the credit crisis by a cut in regulatory and legislative burden.