When the government announced, somewhat tentatively, that the UK was finally out of recession, the public breathed a collective sigh of relief. However, many economists warn that the economy is still far from stable.
Indeed, according to company liquidation experts, the number of small businesses going into administration is still set to rise throughout 2010, with many business analysts claiming that we can only expect to see any real improvement towards the middle of 2011.
Chief economic advisor to the FSA, John Hilton, comments: “While the country is indeed out of recession according to official GDP figures, it will still take some time for enterprise in the UK to fully recover. We have gone through what has been one of the most economically unstable periods history has ever recorded, so to expect everything to simply go back to pre-recession stability is un-realistic.”
“Though recent figures do indicate growth, this growth is marginal and unfortunately, for many companies, their future still looks uncertain.”