Recession? It's full of opportunities, say social enterprises

Business Link survey finds three-quarters planning for growth

Half of social enterprises believe the recession has created new business opportunities for them, according to a poll.

The survey, carried out by Business Link, the Government-backed support service for start-up businesses, asked 130 social enterprises in London how they had been affected by the recession.

Exactly 50 per cent of respondents said the economic downturn had created new opportunities for them and nearly three-quarters - 72 per cent - said they were planning for modest or substantial growth over the next three years.

When asked whether the recession had affected their ability to access finance, 82 per cent of respondents reported no change in their financing arrangements with banks or specialist social enterprise lenders.

Three-quarters of those surveyed said they had no plans to scale back operations, and 82 per cent said they had no intention of making redundancies.

Tamara Pekelman, business adviser at Business Link's London branch, said the poll highlighted the growing entrepreneurial spirit among London's social enterprises. "Many are actively looking for new areas where they can expand and develop their operations," she said.

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