Nearly one in twenty small businesses could go bust this year as recession sets in, according to a representative of the Forum of Private Business (FPB). Phil McCabe told the Sunday Times that 200,000 of the UK’s 4.7 million small firms could fail during 2009. During the last recession, between 1991 and 1992, 100,000 firms went bust. Mr McCabe added that the rate of failure among small firms would depend on whether the banks resume lending to viable businesses.
For more on this story see:
http://business.timesonline.co.uk/tol/business/economics/article5439216.ece
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