Search

Effects of recession lasting another year, say London firms

PUBLISHED: 08:00 06 May 2010 | UPDATED: 15:58 05 October 2010

MORE than half the small businesses in London believe it is going to be at least another year before they’re out of recession.

And that is the most optimistic forecast among small and medium-size firms anywhere in Britain, according to a survey

By Mike Brooke

MORE than half the small businesses in London believe it is going to be at least another year before they’re out of recession.

And that is the most optimistic forecast among small and medium-size firms anywhere in Britain, according to a survey for Clifton Asset Management.

They believe London is better placed than any other region to recover, but don’t see that happening until well into 2011, according to research among 1,000 firms across the UK.

“The recession may officially be over,” said Clifton managing director Neil Greenaway. “But our survey is confirmation, if it were needed, that the recovery will be a long, drawn-out and patchy process.”

Seven out of 10 London companies believe the region is in a better position to emerge from the effects of the downturn than the country as a whole.

This contrasts with the most pessimistic’ region, Wales, with only a quarter of its businesses thinking their region was best for recovery.

Latest East London News Stories

Yesterday, 19:00

Tower Hamlets Council is to overhaul the way it awards grants to community and voluntary organisations (VCS) in the borough.

Yesterday, 14:41

Yobs have been banned by magistrates from going onto a housing estate in Whitechapel which has been plagued by drug addicts.

Yesterday, 11:49

Older people in Tower Hamlets are being trained in classical dance by the English National Ballet to commemorate a century since the end of the First World War.

Yesterday, 08:18

Police are looking for the driver of a suspicious vehicle which sped away as they approached and was a then in a hit-and-run incident in Spitalfields yesterday.

Wed, 15:17

One thousand people left their offices following a basement blaze in Canary Wharf this afternoon.

Wed, 13:06

Campaigners have finally sunk plans for the controversial Enderby Wharf cruise-liner terminal going ahead which would have polluted a huge swathe of the Thames and the Isle of Dogs.

Wed, 11:00

An advice clinic set up as a temporary free service at Stratford following cuts to legal aid has won a funding contract for a permanent operation.

Tue, 18:00

Optician director Jayesh Maru has seen his way to the ancient mountain-top Inca capital of Machu Picchu and has found his way back to east London.

PROMOTED CONTENT

Are you a landlord looking for a fixed rental income, paid whether the property is empty or not? Steve Westley, general manager at estate agents Elliot Leigh, explains their Guaranteed Rent Scheme and how it takes the stress out of letting your property.

Newsletter Sign Up

East London Advertiser twice-weekly newsletter
Sign up to receive our regular email newsletter

Our Privacy Policy

Most read news

Show Job Lists

Digital Edition

cover

Enjoy the
Docklands and East London Advertiser
e-edition today

Subscribe

Education and Training

cover

Read the
Education and Training
e-edition today

Read Now