Firms 'can use recession to expand'

UK firms should use the recession as a basis for expansion, one expert on the subject has suggested.

Speaking at the Totally DIY show at the Birmingham NEC, Toby Roberts, owner of D&G Hardware, said that opportunistic firms should take advantage of new deals and cut prices which have been created as a result of the economic downturn.

He pointed out that some firms will be able to expand into new properties which have had rental and lease prices slashed, providing the opportunity to employ a greater number of staff.

The expert's comments came after the Local Data Company reported that town centre vacancy rates across Great Britain rose to 12 per cent at the end of December, providing firms with cheaper methods of expansion.

Mr Roberts added: "There are also deals to be done with suppliers – they don't want to lose much-needed business so there are always opportunities."

Posted by Chris Hatch