Economic recovery or meltdown?

Over the last few days, we’ve heard contradicting reports about the economy. The National Institute of Economic and Social Research has suggested we are now recovering from the recession as the UK economy enters a period of growth. Reports from the manufacturing and property sectors support these claims and it has been predicted that the official GDP figures could now return to growth in the third quarter, ahead of the Chancellor’s own predictions in the Budget.

However, it’s also been reported this week that 350,000 jobs in the public sector could be cut, UK unemployment has reached a 12-year high and that the airline, British Airways, has asked its staff to work for a month without pay due to the economic crisis.

With this national picture developing, how do your experiences of running a business in the current economic climate compare? Do you feel you’re coming out of the recession? Or are you still finding new ways of working on a shoe-string?

Some of Britain’s top entrepreneurs are still preparing for a tough year ahead according to a report carried out by accountants, Baker Tilly. However, although most businesses appear to be taking a cautious approach, they are refusing to allow the recession to dampen their ambitions and plans.