Partner Article

Downturn fuels business efficiency

Nearly two thirds of business owners believe the recession has actually made their companies more efficient, new research suggests.

A further 34% have also taken on a greater focus on customer service, the research, which was conducted as part of the Barclays Take One Small Step Campaign, found.

Steve Cooper, managing director for Barclays Local Business said: “Businesses are finding the upside of adversity wherever they can. UK firms have taken a pragmatic approach by tackling head-on the big challenges such as improving their business strategy, increasing innovation and focusing on their employees.”

A quarter of local businesses said they had made improvements to their business strategy as a result of the downturn, while 23% said they had not been affected by the recession.

However, the research also found that 43% of businesses have experienced an increase in working hours, while 17% have had to make some staff redundant.

When asked what they would do with a hypothetical £100,000 cash injection, most business owners said they would move or expand to new facilities. A further quarter said they would clear debts, while 22% would use the cash to increase marketing spend.

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