Recession 'provides chance for business growth'

News Article - 15 April 2009
Category:

The ongoing recession provides firms in the UK with the opportunity for business growth as well as risks, one sector commentator has claimed.

David Kern, chief economist at the British Chambers of Commerce, said that at the moment the general message for firms was that they should be cautious in order to make sure that they keep hold of their revenue.

"The businesses that are surviving in a recession require good management and recessions are a great test for management," he added.

Mr Kern's comments support a report published by BDO Stoy Hayward LLP last month, which revealed that short and medium-term business confidence has risen simultaneously for the first time in 13 months.

However, according to the British Chambers of Commerce Quarterly Economic Survey results - Q1 2009, the UK recession is still very serious and is predicted to continue for some time.

Despite this, however, the pace of decline in the services sector appears to be slowing.

Article keywords:

---

More industry news

• Think tank warns UK may have already slipped back into recession
• Growing demand for HR staff in technology and international sectors
• Boosting business growth a ‘priority’ to avoid Eurozone slowdown
• HMRC launches alternative disputes pilot scheme this week
• December employment statistics disregard gloomy recruitment predictions
• Eurozone manufacturing PMI shows modest improvement
• UK scores highly for economic governance by ratings agency
• Government launches two-year project focusing on manufacturing sector
• Burden of regulation on UK businesses ‘too high’

Back to news home page »