Opportunities as well as risks are presented to businesses as a result of a recession, the British Chambers of Commerce (BCC) has said.
Commenting on the recent report published by BDO Stoy Hayward LLP, which showed short and medium-term business confidence has grown for the first time in 13 months, the BCC's chief economist, David Kern, said that the recession will not just bring doom and gloom.
Such an outlook may prove beneficial to accountancy graduates entering the workplace this year; such graduates may find that there is a growing demand for insolvency staff as a direct result of the economic decline, for instance.
Mr Kern said: "Recession provides opportunities as well as risks but I think that the general message for business is that they have to be very cautious to make sure they keep cash.
"The businesses that are surviving in a recession require good management and recessions are a great test for management."
Graduate recruitment may prove vital for some companies, as acquiring the newest skills could keep businesses ahead of the pack at the time they need to do so most.
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