Small businesses are getting smaller says survey
He said: “The message we’re hearing is that small businesses are actually looking to expand. The overwhelming response we’ve been getting is that companies are looking to take advantage of the slowdown to try to expand, take a risk and come out the other side all the better. Small businesses within our membership are fighting pretty hard and getting some really good results. That’s not to say its plain sailing for SMEs but their skill and expertise is certainly standing them in good stead.”
The survey also found 73% of business owners were putting retirement plans on hold, up from 53% last year.
CAM director Anthony Carty said: “That figure now stands at 73%, a substantial increase which reflects the fortunes of the wider economy over the past year as the recession has taken hold. In fact, some 39% now say they do not currently see any prospect of retirement, a figure which stood at 25% last year.”
However, Mr Longstaff argued many company owners were putting off retirement because they enjoyed running their business. He added: “Without wanting to sound over positive, a lot of small businesses owners are prepared to work past retirement age because they love running their business.
“If it’s working well, they want to do it for as long as they can. People are retiring later in all walks of life. If you are fit and healthy, still successful and getting results, why not continue doing what you love?”
