Company Formation Sector Confident About Recovery

While the small business sector may have lost faith in politics, they are confident about the future of the economy, according to a recent report, conducted by Santander.

The report found that over seventy per cent of small business owners think that their company will grow in 2010. While over ninety per cent comment that they plan to recruit at least one new staff member over the next three months.
Findings of the report also revealed that most small business owners have made a substantial personal financial commitment throughout the recession instead of relying on banks.

Thomas Cox, director of finance and enterprise at Santander, comments: ‘The findings of this report showed that things are definitely getting better for the SME sector. It also indicated that many small company owners have looked for different ways of improving their business. Indeed from diversifying their product or services to changing their marketing platforms, it seems that innovation is key to surviving any economic downturn.”