Small firms have been resilient, says expert

Date: 24th May 2010

Small businesses in the UK have surprised one expert with how "resilient" they have been in the current economic climate.

Steve Cooper, managing director of Barclays Business, said that fewer small firms have been failing than the bank expected, while the number of people starting up their own businesses was also higher than predicted.

According to the expert, Barclays helped 10,000 people start up in business last month, the highest monthly figure that the bank has ever recorded.

"We have seen more people who have lost their jobs decide to change their lives by starting up their own business to do their own thing," he explained.

Mr Cooper's comments come as the bank launched its Barclays Trading Places awards, which will recognise the achievements of starting up and succeeding in business against the odds.

"What we are trying to do is recognise and celebrate individuals who have managed to overcome personal challenges to establish a business and livelihood for themselves and families around them," he added.

Posted by Emma Clarke