WITH signs the UK economy is starting to recover from the recession, Lloyds TSB Commercial brought together more than 150 members of the Worcestershire business community to hear from leading professionals about support available for SMEs and how to prepare for the upturn.

Research from the bank has found that 22 per cent of companies in the Midlands have not taken any steps to prepare their business for the upturn and seize the opportunities presented by recovery, despite widespread recognition from a third of the region’s firms that such steps would be essential to long-term survival.

The event, which was held at the Worcester Warriors Rugby Stadium, was hosted by Mark Cadwallader, area director for Lloyds TSB Commercial in the South Midlands.

It was designed to provide practical guidance on how companies can capitalise on improving economic conditions, with specialist advice provided by Lloyds TSB and independent experts from UK Trade & Investment, Business Link and local accountants and law firms.

Mr Cadwallader said: “Recession has weighed heavily on UK businesses and it is easy to see why talk of a recovery might bring welcome relief.

“But in the same way that we have encouraged firms to take action to survive the downturn, they will also need to prepare for the return to growth.

“The shape and scale of any recovery is still uncertain, but one thing is clear – those businesses already looking towards the upturn and planning how to make the most of it, are the ones that will thrive.

“This event was a chance to bring together the local business community and discuss how companies can move forward and seize an advantage over competitors.”