Poll Finds UK SMEs Increasingly Concerned about Surviving Poor Economy

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26th July 2012 18:05 - Professional Services

Market research to ascertain a risk index by global insurance provider Zurich has shown that approximately 84% of small to medium business owners in the UK are concerned about the nation’s current economic climate.

In addition, a further 84% of SMEs said they are not confident that the situation will improve in the next quarter, while as many as two-thirds of the respondents claimed they are even unsure about a turn for the better when looking ahead to next year.

The poll also discovered that one in ten of SMEs admitted to having considered the possibility of closing their doors in the past three months, however this figure was found to be higher in the north of England than the southern regions.

Furthermore, statistics published today by the Office of National Statistics (ONS) have painted a bleak picture since they suggest that UK businesses are right to be sceptical - the nation is presently deeper into recession than when the coalition government came to power two years ago.

Director of SME at Zurich, Rochard Coleman, concluded: "It is clear that SMEs are feeling the strain of an uncertain economic environment. Our research shows their confidence has been hit and they are concerned about their future."

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