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Which SMEs will survive this recession?

Tuesday June 23, 2009 at 1:37pm

It's a question that seems to be concerning many business commentators and it's one we often debate with our own clients.

In the legal profession we see many small, high street legal firms struggling as parts of the business are wiped out with the collapse of the housing market and the frailties of their financial systems are exposed.

Conversely entrepreneurs and innovators seem to be welcoming the downturn as an opportunity to launch challenger brands, innovative products and solutions.

But will your business survive?

We want our blog visitors to enter the debate.

If you think you are fit to ride out this recession – why is that? Do you think you have world beating products, sound financial management or plenty of luck and a crystal ball?

What’s the one thing the Government or your bank could do to make your position stronger?

We really do want to hear from you and plan to report your thoughts, views and witticisms in our next monthly ezine.

Gary Cousins
SME Business Owner, solicitor and optimist

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This blog is not intended to constitute legal advice, nor is it intended to be a complete and authoritative statement of the law, and what we say might be out of date by the time you read it. You should always seek legal advice to confirm whether or how any information in this article applies to your particular situation. We offer a free telephone consultation to discuss your particular circumstances.

2 Comments

Teresa | June 23, 2009 @ 4:36pm
My business will survive, it's lean and fit. Many of my clients too are doing extremely well against industry trends - because they are specialists rather than generalists. In this recession focus is everything. And the banks - well they just need to release some of the cash again to businesses that are basically sound but need finance to grow....
Andrew Woolley | June 25, 2009 @ 12:13pm
Mine will, like yours, it is a specialist firm (we deal with divorce only) and we have a clear strategy. I read in the Law Society magazine from various lawyers that new entrants to legal services will "face great competition from 10,000 existing law firms". They won't. They miss the point. In general the competition will not be on legal skill (which customers have to take as read) but on customer care. In the latter respect, the profession in general offers very poor competition indeed....

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