SME Business News

Proposals by the government to help small businesses weather the financial crisis have been applauded by the Federation of Small Businesses (FSB) who consider the measures to “be along the right lines.”

The package unveiled yesterday includes an investment of £350million towards staff training for small businesses and new rules to make training grants more easily accessible.

The government will offer small business “health checks” through it’s Business Link organisation and help from the Institute of Credit Management, who will offer financial information to assist business owners with cash flow, securing finance and advice on late or non payment from customers.

All government departments and public sector organisations are being urged to settle accounts within ten days.

Business Secretary Peter Mandelson said, “Big businesses have accountants and business advisers. Small businesses, with fewer employees and limited resources, often lack such professional help and advice. These measures we’re announcing today offer them new support. They’re not on their own. We want to help smaller businesses to plan for the difficult times ahead. We want to ensure that they are healthy enough to survive and come out strongly at the other side.”