Small businesses riding out economic storm

Date: 13th October 2008

The capital's small businesses are managing the credit crunch better than those in the UK's other regions, according to new research.

A poll of over 3,000 British firms found that just over half of small businesses in London were anxious about inflation and the economic downturn, compared to 70 per cent in the rest of the country.

It was also discovered that a higher number of London enterprises had increased their international trade in the past three years, compared to the UK as a whole.

Bill Murphy, a spokesman for BT Business, said: "We need to help as many businesses as we can to best meet the current challenges so they are ready for the upturn when it comes."

He added that the study had been published to coincide with this week's Small Business Week in order to highlight the need for financial assistance in the sector.

Small businesses have until the end of this month to file their self-assessment tax return, or until January 31st if submitting online.