Small Businesses Sceptical Of Olympic Benefits
Small business across the UK are sceptical about the benefits of bringing the Olympics to London and even the capital’s firms are not getting too excited, a business think-tank claims.
The facts:
Research by the Tenon Forum, part of Tenon accountancy firm, shows that only one in 10 businesses think the Olympic Games will have a positive impact on them, compared with 15 per cent who think it will damage their business.The surprising figures come as the government reaches out to small firms, promising that 30 per cent of Olympics contracts will go to small and medium-sized businesses across the country.
But even in London, where you’d expect the economic impact of the Games to be felt most profoundly, businesses were less than enthusiastic. Just 16 per cent thought small businesses were set to benefit compared to four in 10 who predict no benefit at all.
A whopping 70 per cent of respondents said only big multi-national firms with major sponsorship deals would benefit significantly.
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