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Credit crunch keeps owners awake

One in six small business owners is losing sleep over the impact of the economic downturn, research by Norwich Union suggests.

The survey found that just under half thought the slowdown was cause for concern while 30% are worried about clients defaulting on payments due and 23% fear the impact of rising energy bills.

"The small business sector is a recognised barometer of the overall health of the UK economy," said Trevor Bailey, director of protection at Norwich Union. "That a significant number of senior managers are stressed to the point of waking up in a cold sweat is a real concern.

"When business is unpredictable, managers look to negate those risks that are within their control. As a result, we are seeing a marked increase in demand for business protection products."

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Post Date: September 29th, 2008