A recent Deloitte Economic Review suggests that the UK economy is set to experience its weakest period of growth in 15 years and that there is a real risk of recession.

The CBI is also forecasting a tough year as British businesses grapples with the global credit crunch and rising food and energy costs (more here). But it's not all doom and gloom. The CBI goes on to say that despite the difficulties, the UK economy is strong enough to weather the challenges.

Whatever the business climate though, or predictions from the big financial institutions, when you're running a small business you just have to carry on regardless. Those in the housing market buy when the market is low. Some argue that when advertising and marketing is generally the first budget to be cut when cashflow dries up, that is the time to promote your business.