03/12/2009 - More economic help for SMEs urged
The Federation of Small Businesses (FSB) is pressing for a renewed economic stimulus to help small firms, which it says are leading the way out of recession and back into growth.
According to a report by the FSB, half of small and medium-sized enterprises (SMEs) survived the worst of the recession by creating new products and services, while one in four actually increased their profits.
The survey of 10,000 firms showed that 50% planned to continue innovating in the coming months, while a third reported increased sales over the past financial year.
The study - carried out jointly with ICM - further revealed that a third of businesses which had borrowed money this year had been charged more, mainly by more than 1%.
The group is calling for a renewed economic stimulus to help small businesses continue to create jobs, get access to crucial finance, innovate and start up new businesses, to get us squarely on the road to recovery.
FSB chairman John Wright said: "With half of businesses expecting to expand their client base, and one in five intending to employ more staff in the coming year, this is no time to pull the support for this vibrant sector, which is at the heart of economic growth."
Copyright © Press Association 2009
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