Firms unprepared for recovery

British businesses are ill-prepared to face a return to economic growth, despite being aware of the need to take action, a new study from Lloyds TSB Commercial has revealed. Around a third of firms have not taken any steps to prepare their business for the upturn, with 17 per cent of those admitting to not even having thought about the steps they might take. However, 43 per cent recognised that taking such steps would be essential if they were to survive in the long term. "Those businesses already looking towards the upturn and planning how to make the most of it, are the ones which will thrive," said John Maltby, Lloyds TSB Commercial managing director. "Those firms that sleepwalk towards recovery risk not just losing out but falling into the overtrading trap."
 
 
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