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Businesses to get help in securing finance

The government has unveiled details of plans designed to provide SMEs with easier access to credit and to help with the cash flow problems afflicting many firms as the economic downturn deepens. The support package will see the government guaranteeing up to 50 per cent of some £20 billion worth of bank loans to small businesses.

Business Payment Support Scheme: what every business owner needs to know

Britain’s businesses will face enough challenges over the coming months without having to worry unduly about their responsibilities to the Treasury. So the government have launched a brand new Business Payment Support Scheme to give worried entrepreneurs some breathing space. It’s called Time to Pay.

Applying for a government grant

With the banks still reluctant to lend, one possible alternative source of business finance is a government grant.

Avoiding redundancies

Keeping hold of valuable and experienced staff.

Winning new business when business is difficult to win

A sharp downturn in the economy may not appear the most opportune time to push ahead with plans to attract new business. That said, businesses should consider resisting the understandable temptation in periods of recession to cut back on their marketing efforts in the name of cost saving.

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