Downturn has unexpected benefits, say 87% of firms

We recently came across an uplifting piece in one of the national papers. I’ve contacted HSBC to get a copy of the full report, but for the interim please enjoy the article as featured….

[Since the article was written Uk Plc has since returned to positive GDP growth. Let’s hope growth is here to stay]

Nearly two-third of businesses expect to grow in the next two years despite the economic slump.

A report by HSBV Commercial Banking highlights what it calls ‘Growth Pioneers’ – individuals who are taking control of the future of business and steering the UK towards economic recovery.

The report looks at the strategies business owners employ to ensure they survive during the downturn.

These include diversifying into new markets with a focus on exports. Firms are also looking at innovative forms of finance, from invoice financing to peer-to-peer lending. There has also been an increase in the number of business owners choosing to work with other firms and organizations, to use their combined strengths for mutual benefit.

According to the report, 87 percent of business owners believed there had been unexpected benefits of the  downturn. Steve Box of HSBC say ‘this report reveals the hidden successes we are seeing on a daily basis – British businesses getting on and growing despite the economic downturn.’

nuOrder have asked for a copy of the report. So far we entirely agree with the ‘extract’ and look forward to hopefully studying the report in detail.

More soon. Roger