Small firms struggling compared to large business

Over a third of small firms reported a fall in profits in the last quarter of 2012, compared to just 7% of large businesses, according to research by insolvency trade body R3. The research also reported that almost a quarter of small firms regularly reached their maximum overdraft limit, compared to just 6% of larger medium-sized businesses. R3 president Lee Manning said small enterprises were likely to be struggling because they have less access to capital and are more likely to be affected by changes in circumstance, such as the loss of a major client.

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