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Survey reveals confidence mixed among small firms for 2009

Over a third of small businesses believe that 2009 will be a difficult financial year to begin with and then pick up, according to a survey by Orange SMS Business Jury.

One in five of the small firms surveyed were optimistic regarding the coming year with 32% believing that they will struggle to cope.

The survey also revealed that 25% of firms have seen their credit facilities negativly affected due to the economic downturn, although 33% stated that their credit had not been hit and they didn't expect it to be affected in the coming year.

Despite the mixed outlook of companies towards 2009, there was more consensus over the impact of the government's measures.

60% of those surveyed responded that the VAT cut had no impact on their businesses with 11% reporting that it had been a hindrance.

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Post Date: January 6th, 2009