Partner Article

'Credit crunch will get worse'

A gloomy new piece of research has indicated that the credit crunch is likely to have more bad effects on small businesses before the problems ease.

The survey, by the Small Enterprise Research Team (SERT), found that entrepreneurs’ expectations for their businesses have slumped to close to 0% - the lowest level in six years.

Almost 90% cited a series of bad regulations by the government as their main problem, while more than 60% said they are spending more time on complying with ‘unclear and complicated’ regulation.

On average, businesses are spending more than 5 hours on paper work, which almost doubled when the business owner is a sole trader, said the report.

This was posted in Bdaily's Members' News section by Ruth Mitchell .