While the retail sector is currently experiencing a period of regeneration, according to a recent report, conducted by the Federation of Small Businesses, the business to business and business service sector have seen a sharp decline in profit, during the first quarter of 2010.
According to the survey, management consultancy firms and business analysts are among the worse affected. However, profits across the entire sector have fallen by almost fifty five per cent, during the last quarter.
Yet, on a more positive note, of all the five hundred small business owners asked, over fifty per cent said they felt 2010 will be a more profitable year than 2009.
Chris Hatterly, advisor to the FSB comments; “While profits have fallen, the business service sector is confident that things will improve. As the country’s economy continues to improve enterprise will begin to grow again and that can only be positive for all concerned.”