Three in Five SMEs unaffected by recession
Three in five UK-based small and medium-sized businesses (SMEs) have yet to feel the negative impacts of the recession according to a new study published this week.
The poll by Mr Site and PayPal found that almost two thirds of SMEs have not been adversely affected by the economic climate with no downturn in turnover since the onset of the recession.
Education, manufacturing and public sector SMEs were found to be the most resilient and ‘recession proof’.
“This research shows that despite the doom and gloom of the financial climate, small businesses are still finding ways to fight back,” said Mr Site co-founder Beatrice Hatherley.
Two in five businesses surveyed said the introduction of an online shop has increased earnings by up to 30% in the past 12 months.
“With consumers turning to the internet more and more to find deals, it is clear that the small businesses that are surviving are those that give customers what they want,” said Cameron McLean, PayPal’s general manager of UK merchant services.
“In our experience that’s an easy and safe way to shop online.”
Despite the overall positive result, only one in 20 small goods sellers have increased turnover since the start of the recession.