News
60% of small firms in London looking to expand in recession
Around 60% of small and medium-sized firms in London are concentrating
on expanding their businesses during the recession, according to a poll
by Business Link in London.
The survey of more than 3,000 small
businesses in the capital found that despite three-quarters being
affected by the economic downturn the majority of small firms do not
want to just consolidate their firm, but actually expand.
The
poll also found that 42% of small companies are looking to exploit new
business opportunities and 17% are developing new products and services
to increase their market share.
"There's a great deal of
optimism in the face of the recession, with the majority of SMEs
remaining committed to growth," said Patrick Elliott, chief executive
of Business Link in London.
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