A survey carried out by Business Link in London has found that almost two thirds of the capital’s small firms thought they could expand their business over the next twelve months despite being affected by the current downturn.
Many businesses expressed confidence that they could cope with the recessions better than less agile, larger firms by reacting quicker to market conditions.
Firms also said it was important to maintain strong relationships with clients and keep overheads to a minimum.
Responding to the survey’s findings, Mayor of London Boris Johnson commented: “It is very positive news that during this downturn so many of London’s small businesses are planning ahead with confidence. The results of this survey are testament to the ‘can-do’ attitude of this great capital, which will help see it emerge as an even stronger, more competitive and world-beating city.”