SME's look to cut costs

SMEs look to cut costs A survey by Hitachi Capital Business Finance shows that 61% of SMEs are looking to cut costs, up from 39% at the start of the year. The number of smaller firms targeting cashflow improvements as a priority rose from 22% to 32%, while those reviewing their borrowing commitments nearly doubled to 21%. Hitachi Capital managing director Gavin Wraith-Carter said more business owners are treating these issues as top priorities, adding: “Many are making important decisions on reshaping their business so they can compete in the new economic climate." The poll also saw 27% of SME owners say they have had a positive third quarter, compared to 14% in Q2.