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Economy 'good and bad' for SMEs

Date Added: 09/08/2012  

Small to medium-sized enterprises (SMEs) in the UK may be facing being served with a winding up order as a result of the state of the economy in the country at the present time.

This is the view of Richard Maun, a leading UK writer and executive coach, specialising in modern careers, who highlighted the fact that some other SMEs will be able to take advantage of the UK's current situation and make money from it.

He argued that the double-dip recession - which figures from the Office for National Statistics show is the worst for many decades - could be both good and bad for the nation's SMEs.

"It's good because people are getting on with their business again and are working methodically to keep recovering from the shock of 2009, when everything stood still for six months, few decisions were taken and many jobs were made redundant," said Mr Maun, who was critical of the media in the UK, which he said is working to "undermine" the health of businesses across the country.

He explained it is doing this by running regular negative stories on how companies are finding it hard to keep their heads above water as a result of the current financial situation in the UK.

"Many businesses are now starting to spend money on marketing, web design, training and coaching," added Mr Maun, who noted these areas are the first to be cut back on when money is tight so it is good to see cash being spent on them once more.

The most recent data from the British Retail Consortium (BRC)-KPMG Retail Sales Monitor showed like-for-like retail sales were up by 0.1 per cent in July on the figures for the previous month, with statistics indicating the increase in total sales to be more than two per cent.

Need advice on Winding up Orders? Call 0800 9020123

Posted by Michael Beam

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