Commenting on today’s GDP figures which show the UK economy contracted by 0.3 per cent in the final quarter of 2012, Emma Faramarzi , Priory Vale Councillor and Chairman, Federation of Small Businesses, said:
“It is disappointing this latest set of figures shows a dip as the economy finds it hard to maintain momentum with the Olympic Honeymoon period fading. The pattern of recovery has been uneven and marked by ups and downs. External factors have added to the uncertainty, meaning business confidence remains fragile and rebalancing the economy is taking longer than expected.
“FSB research showed that small firms are slightly more confident going into 2013 than they were going into 2012. Growth has been forecast in the year, but still below long-term trends. What we need to see is the Government continue with the reforms to encourage investment in the economy and to ensure the UK has the flexibility required to take full advantage of the recovery when it comes. There is no doubt in my mind that Swindon’s small Business community , who are very resourceful will trade their way out of this recession”