Just one in nine small firms (11%) are embarking on post-recession recovery plans, according to research from The Open University Business School.

The research also shows that 24% of firms with a turnover below £250,000 feel unable to plan because of doubts about the future, compared with only 14% of those with a turnover greater than £250,000.

Around 15% of small firms are currently developing their post-recession recovery plans, but 23% see no need as their existing plans are already working.

Professor Colin Gray, professor of enterprise development, The Open University Business School says: “Although there are increasing signs that the economy overall may be turning the corner, recovery remains elusive for the 95% of all firms in Britain that employ fewer than 10 people. This is

particularly so for those small firms in the construction and business services sector. As these are two important sectors that strongly reflect the tempo of business life, we may need to be cautious about believing that the recession is over.”