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SMEs and Company Formation 2010 Confidence

Despite the fact that many small businesses and recently formed companies waited for and injection of festive revenue that never came, according to a report by website “Start Your Business”, the majority of small business owners are feeling more optimistic and excited about what 2010 has to offer.

The report found that of all the 4,000 small business owners asked, over 30% stated that their companies were more financially stable than they were than this time last year, while over 50% reported that they are more confident about 2010 than they were about 2009.

And yet, the report also found that for most small businesses 2009 will go down in history as one of the most financially difficult years they have experienced. Indeed, over 25% said that they had been forced to make staff cut-backs while over 40% commented that at times over the past year they feared their company would have to go into administration.

Robert Lean, entrepreneur and business angel, comments; “2009 was undoubtedly a challenging year for small businesses yet I have been constantly in awe of the determination of the UK’s small businesses owners to triumph over adversity; indeed, many have put their own personal savings at risk to keep their businesses buoyant and I think that total commitment will be re-paid in 201o”

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