New Company Formation Owners Confident About 2010

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According to a recent survey conducted by the Institute of Small Businesses, most small business owners are looking forward to better market conditions in 2010.

Almost 75% of the 1,000 small business owners asked, revealed that they are feeling a lot more positive about the future of the UK’s economy. The survey reflected a mood optimism and confidence among small company owners, with 48% revealing that they are increasing their marketing budgets to support their plan to expand their current profits. Of all of the people asked 30% claim that they feel more confident in the future success of their company while only 10% pf respondents claim to be as worried about the economy as they were in 2009.

Chris Baker, MD of Baker recruitment, comments: ‘At the beginning of 2009, we were extremely worried about the future of the company; we cut back on advertising, expenses and feared employee redundancy. While the first quarter was undoubtedly challenging and we saw a reduction in overall profit, we have noticed a marked increase in profit over the last quarter and we are optimistic that we can get back to our plans for growth in 2010.” While economic recovery still feels like a distant dream, it seems we are definitely on a more positive path

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