Up to 70 members of the IFT, which specialises in turning around struggling business, took part in the poll. It revealed that 13% felt businesses in the leisure, hotel and catering sectors are among those most likely to be worse affected.
"As the recession grips the nation, many UK businesses have seen a hefty impact on their balance sheets. While some managers may have taken steps to prepare for their businesses, many could not have predicted how severe economic conditions would become," said IFT chief executive Christine Elliott.
"It is vital businesses keep a close eye on their cashflow and cut any unnecessary costs in order to pull through these adverse conditions."
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