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Article: Humble but nimble; Small businesses in Europe.
- Article from:
- The Economist (US)
- Article date:
- May 23, 2009
CopyrightCOPYRIGHT 2009 Economist Newspaper Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Europe's smaller firms are coping fairly well with the recession, in spite of their banks' reluctance to increase lending
NOT much about Die Konigliche Porzellan-Manufaktur, a royal porcelain factory, has changed since it was taken over in 1763 by Frederick the Great. Privatised by the state of Berlin in 2006, the firm still moves to a slow rhythm; it makes its tableware mainly by hand, and each of its painters is trained for three and a half years before starting work. Its products are expensive, at about [euro]80 ($110) for a cup and saucer, and are hardly essential. Yet despite this the firm and its 180 employees are doing well amid the economic crisis. That is ...