Chief Executive, Phil Orford, said: "It is a difficult time for many businesses operating when an economy isn't growing, and clearly there will be some continuing tough economic times in the first half of 2013.
"Whilst it is disappointing to see an estimate -0.3 contraction in the economy these are preliminary figures and we will hold judgement until the fuller figures come out.
"In the meantime the positive news is that unemployment continues to fall and the Government has a number of business friendly projects that can be sped up, including planning law changes and infrastructure spending.
"Despite this bad news we feel confidence is growing among small business owners."
The Forum of Private Business responds to today's negative GDP figures.