Small businesses 'key' to leaving recession behind

Managers of small firms are seeing their businesses innovate and grow but need to continue their crucial roles as sales jobs creators, according to new research.

A new survey by the Federation of Small Businesses (FSB) and market research group ICM showed that more than half of businesses have resisted the worst of the recession by creating new products and services.

The FSB also said that small businesses are the solution to getting the UK out of recession, stating that more than 80 per cent of new positions, including sales jobs, have been created by them in the five years to 2007.

Furthermore, 30 per cent stated that their sales volume had increased over the last financial year.

According to the data, half of small businesses introduced new or improved products last year, while 51 per cent plan to continue that innovation in 2010.

Last month Adam Posen, a Bank of England policymaker, said that lending to small businesses remained a "major question" in the efforts to help support recovery from the recession.

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Posted by John Oak

Filed: 04-12-2009