The majority of small business insurance holders based in London intend to expand despite the recession, new research has revealed.
Business Link polled more than 3,200 small companies in the capital and discovered that almost three-quarters admitted the economic downturn has had a negative effect on them.
However, the research also found that in spite of this, 60 per cent of small business insurance customers plan to grow.
Previous research by the organisation showed that 42 per cent of small business insurance holders intend to new opportunities, while 17 per cent are developing new products to boost their market share.
Mayor of London Boris Johnson commented: "The capital's small and medium businesses are critical to London’s success and play a significant role in our dynamic, active and vibrant economy."
Recently, the BDO Stoy Hayward Eurozone Business Trends report claimed that optimism is returning to UK firms, after the group's confidence index increased from 89.9 points in January to 91.2 in April.
