Small business to pull Australia out of recession
Business industry expert Taine Moufarrige has predicted that the “nimbleness” of small and medium sized businesses will enable them to flourish in 2009 and pull Australia out of recession.
This comes off the back of news that Servcorp, the world’s finest serviced office and business solutions company, has posted positive half year results, with a net profit before tax of over $28 million for the six month period ending 31 December 2009, a 19 percent lift from the previous year.
Moufarrige, Servcorp executive director, said he was very pleased with the company’s performance and believes that there will be plenty of opportunities for smart businesses in Australia’s economy this year.
“I think SMEs will pull the Australian economy out of this economic slump. Smaller-sized businesses don’t have the bureaucratic decision-making processes that slow down large corporations, allowing them to act quickly and decisively.”
With large companies failing in the economic slump, Moufarrige believes it is a perfect time for small companies to take the market share from them, in addition to looking abroad to understand how international markets operate.
He points out that small and medium sized businesses that were smart about their cash flow and spent wisely and avoided debt during the boom period will survive through the crash and be well prepared for the next economic cycle.
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