A majority of UK businesses view the current recession as an
opportunity to ‘leapfrog’ struggling competitors, according to new
research.

The ‘Turning the Corner’ survey, conducted by Barclays
Commercial, found that 54 percent of companies viewed the
challenges faced by competitors as their key recessionary
opportunity, followed by 31 percent who viewed staff loyalty,
retention and productivity as their greatest opportunity in the
downturn.

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“These results show that far from being focused solely on
survival, many companies are using this period to make a renewed
push for growth and market share,” said David Marks, managing
director of Barclays Commercial Bank in England and Wales.

The survey also revealed that late payments (37 percent) are
causing greater pressures on cash flow than a lack of demand (34
percent).

Conducted by Barclays Commercial, the research surveyed over 300
UK businesses with an annual turnover of more than £1 million (€1.1
million).

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