INDUSTRY NEWS

Firms with London offices ‘built to survive crunch’

Small businesses with commercial property and offices in London are feeling positive about their future despite the global financial meltdown.

According to new figures from Business Link, 53 per cent the capital’s small companies say they are better suited to cope with the economic downturn than larger firms.

Another 58 per cent said they expected to see growth over the next 12 months.

Patrick Elliot, chief executive of Business Link in London, said: “The small business community is going to be incredibly important to the economy in the coming year or two.

“It’s these companies that generally provide much of the business activity and innovation, and a significant share of employment.”

He added that small enterprises have a number of advantages over corporate companies such as low overheads and a loyal customer base.

“For the time being at least, London’s entrepreneurs seem to be keeping doom and gloom away from their door,” he said.

Yesterday, the British Chamber of Commerce said that it was well-managed businesses which were most likely to survive the financial fall-out.ADNFCR-1329-ID-18856929-ADNFCR

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