As the economic downturn begins to take its toll on small businesses, entrepreneurs are remaining optimistic, according to a new poll.
In fact, three quarters of businesses believe they will flourish during the economic downturn, the survey by business management and information systems provider COA solutions said.
The research, which questioned managing directors, finance directors, and financial controllers at 100 UK public and private sector organisations, found that those from not-for-profit organisations, manufacturing organisations, and property developers were most likely to be pessimistic about how their business would far during the downturn.
Mark Thompson, managing director of COA Solutions, said the survey proves some businesses are making the most of the situation.
“With so much talk of the devastating impact the credit crunch is having on UK business, these findings are encouraging,” he said.
“It indicates that UK senior management have confidence that their organisations will not only ride out the credit crunch, but will perform from it.
“There is no denying that the credit crunch is being felt by businesses throughout the UK,” he added.
“However, organisations can survive it and can even take advantage of it as long as they have the right strategies, processes and systems in place.
“The bottom line is that there is always money to be made, even during a credit crunch.”
© Crimson Business Ltd. 2008
