Support for Small Businesses
Government Support for Small & Medium Size Businesses
Yesterday the Government announced the following package of support to help SMEs in the current economic climate.
- Build on its commitment to pay firms within 10 days by working with NHS trusts in England, local authorities and other public sector employers in England to seek opportunities to extend the payment target. RDAs in England, which spend around £750m per year with suppliers, have signed up to this target.
- Offer free "Health Checks" in England for businesses through the Business Link service to help identify problems early and to survive in the current financial climate.
- Prioritise training for SMEs in England under Train to Gain to ensure employees have the skills and business knowledge they need.
Provide financial information, produced by the Institute of Credit Management, to help businesses to maintain cash flow, secure finance and limit problems caused by late or non-payment.
These are all very helpful measures, especially the last bullet provided businesses can actually access 'unfrozen' finance from banks and lending institutions. Business Link NW will also act as an important source of information for publicly-funded finance packages and any businesses of whom you are aware who require information about available finance (public or private) ought to be referred there in the first instance.
Cecil Edey
Head of Enterprise (and Acting Head of Skills)
Commission for Economic Development, Employment and Skills
Add: Churchgate House, 56 Oxford Street, Manchester, M60 7HJ
Tel: 0161 237 4199
Mob: 07834 572414
Email: cecil.edey@manchester-enterprises.co.uk
Web: www.manchester-enterprises.com