Sep 23rd 2011
Small businesses have experienced an increase of 16.2 per cent in revenue since 2009, according to a report from Venture Finance.
This shows a return to client numbers similar to those pre-recession with the average small business having 25.6 clients, with more invoices being sent out than in 2010 and swifter payment of them.
Between 2007 and 2009 the turnover for small businesses dropped by 10.5 per cent and recruitment turnover also increased by 27.9 per cent.
Corroborating with this the Sage Business Index shows that 70 per cent of small businesses have maintained their positions or grown over the past six months, showing that small businesses are more capable of weathering the economic storm.
Peter Ewen, managing director of Venture Finance, said: “This is just what the economy needs. While tentative in some respects, small businesses have worked very hard since 2009 and have enjoyed increasing success as a result.”