Fall in consumer disposable income hitting small businesses the hardest

Family businesses have been hit harder by the recession and must plan to survive, says PricewaterhouseCoopers advisory partner, Anthony Reidy.

The majority of family businesses are SMEs relying on disposable income, so they have been hit hardest as the recession has bitten into consumers’ pockets. “The recession has had a bigger impact on family businesses, as they are more reliant on the domestic economy,” says Mr Reidy.

Businesses cannot see beyond the next set of payments and keeping the doors open, so they are missing opportunities to expand.