Category: Contractor Industry News

Small and medium-sized enterprises (SMEs), have shown resilience during the economic downturn, one financial expert has pointed out.

Those who run their own firms, such as freelance contractors, have coped well with the difficulties, said Steve Cooper, managing director at Barclays Business.

"We have seen far fewer business failings that we were expecting, and we have seen more people starting up their own business than we were expecting too," he commented.

Last month was a particularly strong month for people looking to start up their own company, with 10,000 turning to the bank to do so, Mr Cooper continued.

He also highlighted that people who have lost their jobs in the recession have decided to take things into their own hands and become self-employed, with more women and young people doing this recently.

Mr Cooper's comments came after the finalists of the Barclays Trading Place Awards were announced, which recognise inspirational business people who have transformed their lives.

Posted by Daniel Frost