Silver Lining for Businesses
Over a quarter of UK entrepreneurs believe the economic downturn has the potential for new business opportunities, new research suggests.
These new opportunities include taking clients from competitors, buying stock at lower prices or acquiring other
companies, a poll by entrepreneur think tank the Tenon Forum found.
London entrepreneurs are the most confident about new prospects as a result of the downturn – 39% think recession has a silver lining. However, only 22% of entrepreneurs in the West Midlands think there's scope for opportunity.
Carl Jackson, head of recovery at Tenon, said: “It is encouraging to see that those entrepreneurs that are willing to take calculated risks are still able to reap the rewards and will be in a position to strengthen their business further as times continue to get tough.”
On a less positive note however, the research revealed that 71% of entrepreneurs think the downturn has had a negative effect on their company.