SMEs 'still struggling'

Smaller companies are still facing difficulties when it comes to building their businesses back up to health in the wake of the economic crisis.

This is according to a recent report from the European Commission, which found that SMEs are making slow process, with UK-based companies seeing things as a particular challenge.

On one hand, the news is worrying for the economy as a whole, given the high percentage of business driven by SMEs. However, individuals looking to buy a small business out of administration might find that there are some hidden opportunities around the UK.

EU vice-president Antonio Tajani, commissioner for industry and entrepreneurship, commented: "SMEs have the potential to restore growth in Europe. They are at the heart of our efforts.

"The most ambitious action plan to boost entrepreneurship Europe has ever seen will follow in November. We offer support and advice at a so far unknown level. We try to restore confidence so that SMEs can make progress once again and drag us out of the current crisis."

The British government has introduced a number of schemes to attempt to boost funding for SMEs and encourage them to take on staff as and when they need to.