Personally I found 2008 a very challenging year for business. It started off reasonably well and we all knew about the impending increases that were coming in April 2008 to the small companies taxation rate from 20% up to 21%, the increase in the minimum wage from October 2008, but what we didn't count on was the impact of the fall out from the banks and the USA.

As a result of all this, and more, 2008 ended with increasing unemployment, falling house prices, a falling pound, and a squeeze (or is that freeze?) on bank lending. On 2nd December 2008 the US confirmed it had been in recession for 12 months, which effectively means we are all in a recession right now, in fact the UK has probably been in recession since the summer of 2008.

In late October 2008, Mervyn King, the Governor of the Bank of England, became the first leading bank official to use the word ‘recession' at a black-tie Institute of Directors dinner. Mr King delivered a hard-hitting speech in which he warned that house prices and the pound would continue to tumble and economic hardship would last for years.

If you read a variety of newspapers and search the internet and read the different postings you will soon realise that everyone has an opinion, and all those opinions vary.

So will the recession continue into 2009? Well yes most forecasters agree that it will, but through increased borrowing and using huge sums of tax payers money, the Government has taken positive action taken to try and bump start the economy back within 12 months.Furthermore, there has actually been talk about a recession in the UK since 2002, so I guess it's about time.

But rather than look at this as all doom and gloom let's think about how it also opens up opportunities for business and individuals.

We have the lowest interest rates for decades (lets hope the banks actually pass this on), falling house prices means they might just become affordable again and we may very well start to come out of it sooner rather than later.

Although the pointers below are not going to guarantee success it will hopefully get you thinking about your business and the direction you are taking it in.

Sadly, we are in a recession, and people are losing their jobs, but consumers will still spend, just at a lower level, and those businesses that are well prepared will expand and flourish, just make sure you're one of them. Make sure in 2009 you are not just working to survive.

Before I finish my first article of 2009 I want to finish on a positive note and take this opportunity to tell you all about Business '09.

In 2009 WinWeb (WinWeb is the leading provider of on-demand online software) will celebrate it's 15th anniversary by hosting a Business'09 Competition to win £10,000 or an equivalent currency value for small business owners or budding start up entrepreneurs.

All that is required is that you let WinWeb know what you would do with the money for your business. Would you start your dream business? Start a business from home? Invest it in your current business and finish a long planned project? To enter this competition please go to the following website address: http://www.winweb.com/home-micro-smallbusiness- start-up-campaign/

‘Trading through a recession' points to remember:

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