TNS Business Finance Monitor has noted a decline in the general optimism of small businesses regarding the future of their companies.
TNS Business Finance Monitor observed the behaviours and attitudes of businesses towards their finances and financial institutions, and found over the past couple of years small businesses have expected “steady growth” however, in the past year, the “no growth” expectation has almost doubled.
Jenny Powell, manager of TNS Business Finance Monitor said that small businesses in particular are being prudent and cautious about their expectations in the current economic climate, as they don’t see this as a time for building their businesses or for major changes.
In a similar TNS study on social trends, Australians are coming together and trying to support one anther in tough times, by helping out smaller retailers.
Gabrielle Zerafa, director of TNS’ Qualitative Specialist Group, said, “we expect multinational may see a short term shift of consumer preference. This could have a real effect on the larger retailers.”
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