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Business Support During the Economic Downturn

On the 21st October 2008 the Secretary of State for BERR, Lord Mandelson announced a package of measures to support businesses during the current economic uncertainty.  Business Link is the channel for this support.

All businesses are encouraged to take advantage of a free HEALTH CHECK from Business Link to help them succeed and grow and to identify any potential problems early.  The package has been designed to alleviate businesses most pressing needs, to help them survive and thrive despite the less certain economic conditions.

The initial four packages include new guides and practical advice to help businesses reduce costs, manage cash flow and access the help they need.  They include:

1. Training Offers – (under Train to Gain and via DUIS) businesses can access free ‘bite sized’ training for existing staff.  Please contact Business Link for more information.

2. Free business Health Check - all businesses are encouraged to take advantage of a free HEALTH CHECK from Business Link to help them succeed and grow and to identify any potential problems early.  The Health Check is available online at www.businesslink.gov.uk/healthcheck  or by arranging an appointment with a local Business Link Advisor by calling the national helpline number – 0845 600 9006.

3. Cutting costs -  practical advice on energy saving, reducing fuel costs and waste is available online at www.businesslink.gov.uk/healthcheck   and following the link to Manage your efficiency

4. Finance Guides – developed by Institute of Credit Management, giving advice on better cash flow management and reducing bad debt risk available via contacting Business Link

In addition to the above the Carbon Trust has announced it has doubled the maximum amount that small businesses can borrow through its Energy Efficiency loans. Small and medium-sized businesses that want to implement energy-saving projects or upgrade equipment to cut their carbon emissions can now apply for an unsecured, interest-free loan of up to £200,000. Find out more

Business Support Kent is also working with the local banking community to find ways to help businesses successfully access new or additional funding.

For additional information on accessing finance visit the SEEDA Website.