PB Week: Small businesses face the crunch
Small businesses are suffering the main hit from the credit crunch, and worryingly many are cutting back on their insurance in an attempt to lower costs, writes Katherine Brandon, reporter, Professional Broking
A survey carried out by Continental on behalf of RSA today highlighted the problems faced by small businesses in the current economic environment reflecting the concerns raised by many PB readers in our recent sentiment survey.
According to the RSA report 11% of small businesses can no longer afford to operate due to the credit crunch and the global financial upheaval and a worrying 7% of SME employers would risk reducing insurance cover to save money. The worst hit businesses were in the north
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