A raft of economic figures are expected to shed more light on the state of the British economy this week with the UK trade figures due Tuesday and the Bank of England's inflation report due Wednesday, after figures from the Insolvency Service report showed a rise in personal insolvencies where the number of company liquidations fell 1.1 percent on the year to 4,566, personal insolvencies rose 24.9 percent on the year to 35,574.
However, amongst this gloomy result a ray of hope appears as thousands of small businesses across the UK battle to survive in the current tough economic climate through the use of innovative technology to reduce start-up costs and avoid bankruptcy.
As the debate continues as to whether Britain is in recession, there is no doubt that the lion's share of job creation will come from SMEs. Cloud computing technology--where software and hardware is pooled centrally and made available over the internet--is enabling small and medium-sized businesses across the UK to reduce costs and enhance efficiencies.
"The harsh pressure on start-ups and small...