Quarterly survey of small business in Britain 2005 Q2

Quarterly survey of small business in Britain 2005 Q2
Document type
Survey
Corporate author(s)
Open University Business School. Small Business Research Team
Publisher
Open University Business School
Date of publication
1 July 2005
Series
Quarterly Survey of Small Business in Britain. Vol. 21; Number 2
Subject(s)
Small business & enterprise: the practicalities of running a small business and the theory of entrepreneurship
Collection
Business and management
Material type
Reports

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This survey of small businesses conducted in May and June 2005 reveals that despite a significant rise in the number of small firms reporting a drop in sales, there is also evidence that this had not deterred Britain's 'serial entrepreneurs'. Only half of small business owners are running their first and only business. Half have owned another business in the past or own more than one now. Most have started up their own business, using their own money. The majority of surviving businesses provide broadly the same products and services as when they started and half have grown at about the pace their owner anticipated. Most have struggled to overcome difficult periods. Poor sales performance and optimism, particularly in the distribution sector, is reflected by an increase in those whose biggest problem is the general economic climate. But government regulations remains the top problem, complained about by more small business owners than ever before.

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