A long way to go on the road to recovery
MORE than three quarters of SMEs in Yorkshire and the North East expect a one-to-two year wait for the UK to make a full economic recovery, according to a new survey.
None of those polled by specialist business insurer QBE forecast recovery in the next six months, while a majority said that an increase
in interest rates and
inflation would cause problems for their business.
According to the survey, more than half said government spending should be cut on overseas aid and welfare to reduce the national deficit.
Elliot Miller, of QBE, said: "It is clear from the findings that, although conditions have improved for the region's small to medium sized enterprises, there is still a long way to go."