NEARLY three-quarters of small businesses in Ealing say they are still feeling the affects of the recession but say they are remaining optimistic.
According to London's Business Confidence Index for January to March this year, 72per cent of small businesses are still feeling the force of the downturn with planned redundancies still on the cards.
Around half of the 90 businesses are recording a fall in profits but 79per cent have high hopes for the next 12 months.
Denis Palmer, Regional Manager of Business Link, a government body providing information to new and start-up businesses in London said: "A recovering economy does not mean that Ealing’s small businesses are out of the woods – recovery on the business front generally takes longer to manifest itself and the borough's entrepreneurs need to remain on their toes in the months ahead to ensure they're on track.
"Now more than ever, Ealing’s small to medium businesses must ensure they have a robust business plan in place to stand them in good stead for the year ahead."
The study also found that entrepreneurs are more product and service based and investment plans are being put on hold for the time being.
Nearly half have made redundancies since October 2009 but 85per cent claim they will not be planning to lay off any more staff in the next 12 months.
For more information, visit www.businesslink.gov.uk/london/bci