Magazine article Financial Management (UK)

Members in Mid-Sized Firms See Light at the End of the Tunnel

Magazine article Financial Management (UK)

Members in Mid-Sized Firms See Light at the End of the Tunnel

Article excerpt

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A third of CIMA members in medium-sized businesses believe that the recession will end in the next seven to 12 months, according to the institute's latest quarterly survey, writes Simon Davies, customer and market insight manager at CIMA.

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Most (85 per cent) think their companies will survive to enjoy the green shoots when they emerge, while 42 per cent have seen profits rising in the past quarter. But firms are still struggling to meet consumer demand, enter new markets and receive prompt payments.

Members are continuing to manage costs downwards: 47 per cent have trimmed overheads further and 29 per cent are paying suppliers less. Two-thirds have changed suppliers in the past year.

In the next quarter, 46 per cent expect turnover to rise. But these respondents will continue to cut costs: 34 per cent plan to reduce overheads and 17 per cent expect to negotiate lower prices with their suppliers. …

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