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SMEs ‘benefit from recession-busting measures’

Despite the challenges posed by the tough economic climate, over a third of SMEs have reaped the benefits of cost-cutting measures introduced in a bid to combat the recession, a new report suggests.

Nearly four in ten business owners reported that the recession had prompted them to re-evaluate their business processes and reduce costs, and that the business had continued to benefit from the streamlining measures put in place.

In addition, a third of business owners said that the process of re-evaluation had given them a better understanding of the business, while a fifth reported that they are now enjoying more favourable rates from suppliers.

However, the impact of the double-dip recession remains a cause for concern, with generating new business and the rising costs of fuel and materials being among the principal areas of concern for business owners.

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