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SMEs see recession’s silver lining

posted Oct 20, 2009, 7:05 AM by Yale ReiSoleil   [ updated Oct 20, 2009, 9:06 AM ]
Most small and medium-sized enterprises (SMEs) are seeing some benefits to the current econonic climate, according to a survey from the ICAEW, an accountancy body.

Though 94 per cent of the 1,000 businesses questioned have been affected by the downturn, 66 per cent still plan to grow turnover over the next two years (compared to 84 per cent in last year’s survey).

SMEs are feeling the advantages of weakened competitors (66 per cent), greater availability of skilled staff (50 per cent) and improved opportunities for acquisitions (42 per cent). Some 15 per cent even claim there are better prospects for sales.

The biggest problem identified in the current climate is the difficulty of planning ahead (84 per cent of respondents), while 78 per cent complain of reduced revenue growth and 63 per cent find reduced headcount a problem.