The recession is forcing small business owners to postpone retirement, according to a new survey conducted by Clifton Asset Management (CAM).

The survey reveals that 80% of SME owners feel that retirement is currently more unlikely than it was a year ago - up from 65% who responded this way in a survey last year.

"Clearly the immediate outlook for the SME sector is not all bad. Nonetheless, the key findings of our latest survey tell their own story, particularly in regard to people's retirement and pension plans," said Neil Greenaway, managing director at CAM.