SME Business News

When the going gets tough, the tough get going.

With business confidence hitting a three year low it is surprising that a report by Tenon Forum finds that many small business owners are upbeat about their opportunities of exploiting the current situation by winning business from those companies being worst hit by the economic downturn.

Over half of the respondents to the survey expected to take business from rival companies who are struggling to keep pace with the effects of cash flow, 51% saying that they will exploit the situation to build their own business.

A further 36% of those surveyed, consider that they are in a better financial situation than their competitors, and are expecting to show a natural organic growth through the recessionary period.

Tenon Forum’s Carl Jackson has warned SMEs not to be complacent however, saying:

“By ensuring they have robust business plans in place, SME owners should be able to see their business survive and thrive through the tough times that may be ahead.”