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UK’s small business employees show resilience

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While unionised staff from some of the UK’s largest organisations disrupt vital services by striking in protest at wage freezes and reduced hours, small business employees have, in stark contrast, been rolling up their sleeves and getting stuck in.

Research by Make It Cheaper,  the business price comparison service, reveals that 45% of staff in small businesses have accepted a pay freeze, agreed to less hours or even worked more hours for no extra money, in an effort to help their business combat the recession.

A sign of British resilience in difficult times, just 21% of bosses put their affability down to fear of losing their job, with more than half those surveyed (54%) instead attributing their workers’ acceptance of changing circumstances to their dedication to the business.

Other key findings from the survey include:

• The outlook for the coming financial year is generally positive with more than half believing things will stabilise (57%) and almost a fifth (18%) believing things will be at their brightest in five years

• The vast majority have not had to make redundancies in the past year (78%) and just 12% foresee having to do so

• The most successful financial cutbacks, aside from a reduction in staff, have involved energy saving strategies, with 21% of respondents saying they have made big savings

The research also uncovered a whole range of proactive and creative coping strategies SME staff have suggested including: writing to their MP to protest against the imminent VAT rise; using online voucher codes for work-related purchases; increasing internet presence; making suggestions about diversifying the business offer and building local relations to increase business.

Jonathan Elliott, managing director, Make It Cheaper, said: “This research shows that our small businesses, which represent 51% of the UK GDP*, can be proud of their staff and safe in the knowledge they will be supportive and inventive when times are tough. Companies are becoming leaner and so will be more profitable as and when things improve. Perhaps employees should take this opportunity to map out a future pay rise when milestones are reached”.
 

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