SMEs leading us out of recession

It’s heartening to read in the Independent that small and medium sized firms are ‘poised to lead the country out of recession.’ Our experience of SMEs – our clients – is that they are indeed innovative and determined to succeed as the Independent’s research suggests. But it’s more than that; with many being owner managed, we see a real spirit of enterprise coupled with grit and determination. Many of our clients have spent a lifetime working in or on their business; they’ve seen off previous recessions and whilst, like all of us, things have been extremely tough over the last 12 months, they come out fighting every time.

I believe it’s the ability to change quickly, and the flexibility of the staff and business structure, that makes smaller businesses better equipped than big corporate concerns to cope with the kind of economic turmoil UK plc has been experiencing.

The small business sector is not insignificant; it accounts for 99% of all UK businesses and over half the jobs in the country and, in our experience, each one of those businesses has something to offer, not just the economy but to business managers of the future.

Whilst some global brands struggle, niche players, found across the SME sector, can take advantage and prosper.

Here’s to all the SMEs out there! It would be great to see some Government support for us, removing unnecessary red tape and encouraging the banks to extend finance more readily. But, in the meantime, we’ll get on with what we do best, running our businesses.

Gary Cousins
Solicitor and Owner Manager

For free advice on this topic please call us on 0845 003 5639.