Recession helped majority of small businesses

Many small businesses have used the economic downturn to their advantage

Many small businesses have reported gaining some benefit from the economic downturn, new research has claimed.

More than two-thirds of respondents to a survey of nearly 500 business owners revealed some positivity due to the recession, with 39% indicating that the recession has encouraged them to streamline and reduce wastage.

20% have managed to negotiate better rates from suppliers, whilst a third are now using their resources more effectively.

One in 10 also reported increased sales due to reduced competition.

Although business owners will be hoping to see positive signs in the economy over the next few months, the majority have seemed to make the most of opportunities that have arisen from the economic downturn.