A recent research study by Barclays Commercial has shown that, despite the recession, the general feeling among startups and small businesses in the UK is a positive one.
Of the companies questioned, 60% said that they were taking advantage of the recession as a time to restructure their business practices, expecting to emerge stronger than before. A further 25% said that they had not seen fit to alter their business model, despite the financial upheaval.
The study showed that many business owners were just anxious about late payments from clients and cashflow issues as people tighten their purse strings, rather than a lack of work itself.
So there you go, yet more proof that the times are as good as, if not better than ever to start your own business.
Owners of smaller businesses also pointed out the opportunity to “leapfrog” competitors that has been presented by the economic downturn - as larger companies are forced to spend time and money altering their large-scale operations, smaller businesses are able to adapt infinitely more quickly to the swiftly changing economic climate. We ourselves noticed many smaller businesses advertising “credit-crunch busting” deals and “beat the credit crunch” offers months before larger chains even seemed to acknowledge the situation. Indeed, our clever little websites themselves exactly fit this growing startup market.
Tags: Credit Crunch, Start Your Own Business, Starting A Business
