Rising costs for small businesses

BT Business’ State of the Small Business Nation report has revealed that during the current downturn 57% of small businesses are experiencing rising costs and 51% have lost customers.

It is no surprise therefore that half of firms reported worsening trading conditions compared with just one in ten seeing an improvement.

The report also shows that more than a third of UK small businesses take advantage of mentoring schemes and nearly four in 10 seek advice from private organisations such as lawyers or accountants.