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Posted: Wed, April 16, 2008
Welsh businesses resilient to economic slowdownWelsh small and medium-sized enterprises (SMEs) are positive about their current trade despite the economic conditions, according to new research.A survey carried out by accountancy practice Mazuma suggests that despite growing concerns about the economy, none of the firms spoken to reported any problems as a result of the financial climate, reported the Western Mail. The director of the company Lucy Cohen told the paper that they were "heartened by the independence and confidence demonstrated in the survey". And many of the respondents from Cardiff-based firms called on the Welsh assembly to provide a better network of support agencies and cut red tape to help alleviate their fears, rather than granting aid to SMEs. Ms Cohen noted: "No longer are SMEs looking for handouts, but they do require good advice and have yet to be convinced that it is available." According to research carried out by Alliance & Leicester Commercial Bank, around half of the UK's small businesses have money saved to cover unexpected problems or lost business. 
© Adfero Ltd
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