Half of small firms diversify during downturn
More than half of UK small firms are diversifying their business in order to stay afloat during the recession, a survey has shown.
Research by insurance firm Aviva reveals that 56% of respondents said they had expanded their services or products in order to weather the recession. However, the majority of business owners (69%) said that cash flow is their biggest concern. This was most pronounced for business owners in the restaurant, pub and leisure sectors.
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