BCC Reveal There Is Still A Way To Go

The UK may be on the path of economic recovery, however, the British Chamber of Commerce has stated that the economy still faces a number of challenges, before we can identify the credit crunch an over.
A report conducted by the body, revealed that  Britain’s Gross Domestic Product will drop by almost 5% in by the end of 2009 and that while 2010 will see this rate improving be 1% , any hope of returning to the levels recorded pre-recession is misguided.

Matthew Magee, a leading economy strategist at the British Chamber of Commerce comments; “Though incremental growth is anticipated over the next two years, the rate at which the UK economy will expand will be slower than expected. However, it is vital that all businesses are poised to take advantage of any economic expansion.”

The findings of the BCC report is confirmed by the Institute of Small Businesses, who state that confidence among business owners has increased for the first time since the recession hit.