Here at Companies Made Simple, we see the rise in company formation figures in the last quarter, as an encouraging sign that the recession is in the early stages of recovery. However, a recent poll of leading entrepreneurs and business owners reveals that overall opinion in the SME sector is well and truly divided.
The research we are referring to was conducted by Deloitte – an international accountancy and financial consultancy firm – as a result of the report by the British Chamber of Commerce survey, which concluded that, despite a decline in industrial output, business activity across all regions in the UK have reported growth in the last quarter.
The findings of the report suggest that while over 30% of entrepreneurs feel that the worst effects of the recession are over, a further 30% feel that we still have quite away to go before we can conclude that the recession is over.
The demands of the recession have undoubtedly presented many challenges for the SME sector and it appears that the firms that will emerge stronger are those that employ effective cash flow management and continue to listen and support their employees.