Partner Article

Entrepreneurs 'still bullish'

UK entrepreneurs are ‘well equipped’ to withstand the effects of the credit crunch, apparently. The finding comes from a report by the Orange SMS Business Jury, less than a week after Norwich Union found that entrepreneurs were losing sleep over the economic crisis.

The survey found almost 70% of business owners believe the downturn is having a negative impact - yet all but 2% said they want to keep going in business.

More than four in 10 said they are suffering from higher operating or supply costs, while more than a quarter reported lower revenues.

The report found most businesses are adapting to weather the downturn. While a fifth said they have put their expansion plans on hold, just over 14% said they plan to raise prices, and one in 10 said they will look to sell assets.

Martin Lyne, director of small and medium enterprise for Orange Business Services, said businesses are ‘obviously’ feeling the pain. He said: “We are encouraged the owners businesses are not giving up. We need to help businesses innovate and get through the hard times, so that in turn, they can help bring the British economy back onto an even keel.”

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