John Walker, the chairman of the Federationof Small Businesses, sounded a note of optimism despite today's disappointing GDP figures and the generally high inflation. He said:
Despite all this, confidence among small businesses has picked up, and this resilience needs to be supported by Government if they are going to make use of it to pull Britain back out of recession.
He said the Government needs to focus on job creation, business investment and on boosting consumer confidence.
New figures show that the UK economy is shrinking quicker than expected with the construction industry bearing the brunt of the slump
Figures from the Bank of England reveal a large gap between the British economy today, and where it might have been minus the credit crunch.
There are a lot of disappointing statistics for the Government today including, poor GDP figures, re-offending rates up and high migration.