Despite accusations that banks are not releasing an adequate supply of funding to recruiters (Recruiter.co.uk, 30 July), small business spending is starting to recover, according to Visa Europe.

By the close of Q2, Visa Business Cards spend returned to pre-September levels.  In June 2009 a record number of transactions were made on Visa Business Cards, up 19% on the previous year and 11% year-on-year.  

Nigel Eaton, vice president at Visa Commercial, says: “It’s too early to talk about a recovery in the small business economy but the last quarter has seen a marked reversal of the downward trend in spending.    

“While businesses are still aiming to cut costs wherever possible, uncertainty about the rest of 2009 is having a strategic impact on some areas of spending – for example a surge in recruiting for the short rather than long term.”