Small business insurance customers plan to cut back primarily on travel costs, advertising and staff bonuses in order to survive the recession, according to the latest research.
A survey by YouGov, commissioned by electricity supplier Opus Energy, found that reducing travel expenses was the top priority for business insurance customers, with 19 per cent saying they expect to cut back in this area.
The poll revealed that 18 per cent of business insurance customers are intending to reduce their advertising expenditure while just over a sixth of firms said staff bonuses will go.
However, this figure increased among the larger companies surveyed with a third saying they will rein in pay supplements for employees.
Tea, coffee and biscuits look set to remain within small businesses' budgets, with bosses deeming them more important that IT.
Last week, the British Chambers of Commerce said small businesses are facing the worst trading conditions in 20 years.
