84% of London firms plan to grow

Small businesses in London are planning to grow despite the recession, according to a new survey of 3,000 firms by Business Link London. 

The report found that 84% of firms were planning to expand by diversifying into new products, services and locations despite nearly two thirds admitting that the recession was affecting their business. 

The survey also looked at different sectors and discovered that those firms most affected by the downturn were in retail, construction and warehousing. 

The report also studied the performance of ethnic groups and found that Black, Asian and minority ethnic owners with start-up companies were suffering the most, whereas white female British Londoners were performing best.