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The majority of UK businesses remain optimistic of their prospects this year despite the credit crunch, a new survey has suggested. According to a study conducted by the British Chambers of Comme...
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Monday 28th April 2008
The majority of UK businesses remain optimistic of their prospects this year despite the credit crunch, a new survey has suggested.
According to a study conducted by the British Chambers of Commerce (BCC), nearly two in three UK firms reported that they have no plans to amend their expansion plans this year.
Meanwhile, a similar proportion said they had experienced no extra difficulty in securing funding to finance their growth plans.
David Frost, director general of the BCC, said the findings suggest that the impact of the crunch is centred on the City of London and that it had not significantly dented confidence elsewhere.
He commented: "Our members are the backbone of the British economy and they are in the frontline of these intense global challenges.
"What has impressed me over recent months has been their amazing resilience. If you lived your life in London you would often be left with the impression that the economy was about to fall off a cliff."
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