SMEs to beat downturn, says survey

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A report says small businesses are determined to beat the credit crunch despite the weakening economy.

The majority of businesses polled by the Institute of Chartered Accountants in England and Wales believe that the downturn has increased their opportunities for business acquisitions, despite nearly two-thirds saying it has had a negative effect on them.

Growth plans remain unchanged from last year, with the average annual growth target at just more than 12 per cent.

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