Survey suggests SME’s are concerned primarily by expenditure in downturn.

 A new poll conducted by Orange SMS Business Jury shows that up to a quarter of Britains SME’s say the state of the UK economy is their biggest concern at present.

Overhead costs (23%) and fuel costs (17%) follow closely, suggesting businesses are increasingly worried about having to tighten their belts.

Nearly two thirds (59%) of those in the survey describe the current state of the economy as in a ‘down turn’ and a third (31%) go further and call it a fully blown ‘recession’.

Most of those businesses who think the economy is in either a down turn or recession see the current economic climate as a threat to their business (68%) with only a handful of respondents (7%) seeing it as an opportunity.

Of those businesses that feel the downturn is a threat to their business, one in six have already made staff layoffs (16%), with an additional one in six (16%) halting plans for growth. A small handful (3%) of businesses have had to sell assets and the same number have had to sell up completely (3%).
 
The results are more positive on low long the downturn will last. Over half of the businesses who think the economy is in a down turn or recession predict the current economic climate will change within the next 18 months (53%); a quarter (28%) predict a change within two years and just over one in ten (12%) think it will go on for more than two years.

Martin Lyne, director of small and medium enterprise, Orange Business Services said, “there is obviously a lot of concern from British businesses about the current and future state of the economy. Whilst this uncertainty lingers, it is important that businesses are as prepared as they can be, so that any future challenges can be taken in their stride.”

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