SMEs stand strong
Tue 15 Apr 2008
15/04/2008
Small and Medium Sized Enterprises (SMEs) are confident of the future of their business, despite a continued credit crunch, Onrec has reported. Research by The Credit Show conference revealed just under half of the 117 SMEs it questioned planned to expand into a new area in the next 12 months and 37 per cent hoped to recruit new staff. Kamala Panday, publisher of Credit Today, told Onrec: "For some, the credit crunch is beginning to bite. However this survey shows that their hunt for growth has not been affected." The study found only one per cent planned to scale back operations and most have yet to feel affected by credit shortages. It revealed 38 per cent had not noticed any problems, although 28 per cent were having some difficulty borrowing. Difficulties in the international credit markets originated in the US, after several banks saw their sub-prime borrowers default on mortgages.
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