Local Business Optimism about Recession

12.09.18pm BST (GMT +0100) Wed 20th May 2009

Local business, in the Borough, is twice as likely as business elsewhere in London to want to hire staff (23% of companies against 12%).

61% also are expecting to grow in the next 12 months after a difficult year in which 71% were affected by recession (69%, London average).

These figures emerged from a Business Link Survey in early may presented to a meeting in Twickenham Business Link between Vincent Cable MP and a group of local companies. He said: "Each of the companies at the meeting had been hit by recession but all were very positive about the prospect of recovery and for winning new business.

"Some small businesses have been badly hit, knocking a hole in local shopping centres, but there is a surprising degree of optimism and a real determination not to be dragged down by negative thinking.

"While 23% of local companies were looking to expand staff, 17% are considering making layoffs. Across London 12% want to hire staff and 17% are laying people off."