Make Business Health Check- A New Years Resolution
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05 Jan 2009 12:36
Firms are being urged to start the New Year with a "business MOT" to ensure
they're in good shape to ride out the current economic downturn.
More than 10,000 companies in England have already undergone a Business
Health Check since the service, which provides free personalised support and
confidential advice, was launched in October.
Each check, provided by the Government's Business Link service, ensures that
firms are maximising their cash flow, marketing and business planning during the
current economic climate.
Qualified Business Link experts help firms draw up tailor made action plans
designed to ensure that companies are able to cope with the effects of the
economic downturn. Business Link also provides a follow-up monitoring service
for companies to ensure that the plan is working for them.
Secretary of State for Business Lord Mandelson said:
"In the current economic climate it's more important than ever for small
businesses to take action before they find themselves in difficulties. So
there's no better way for companies to start the New Year than with a free
Business Health Check looking at issues such as maintaining cash flow.
"Larger firms can afford advisers and accountants. We want to ensure that
small businesses, with fewer employees and limited resources, benefit from the
type of advice and support they need to plan for the times ahead and to come out
stronger on the other side."
Business Link Advisor Ganesh Selvarajah added:
"Smart businesses review their performance regularly to look for early signs
of any issues that will affect their profitability.
"The Health Checks are a really effective way of doing this. Clients find
that they give them an excellent overview of the strengths they need to build on
as well as identifying potential problems, such as a cash flow."
1. Business Link is the information, advice and support service for businesses,
funded by the Government. For more details go to
http://www.businesslink.gov.u k/businesshelp or call the National Help Line
0845 600 9 006.
2. The Business Health Checks are part of a range of support for businesses
announced in October, including prioritised training for SMEs under the Train To
Gain initiative and cash flow guides produced by the Institute of Credit
3. At the Pre-Budget Report in November the Government announced a package of
support including guarantee facilities to support £2bn of bank lending to small
firms and a £50 million fund to convert businesses' debts into equity.
Department for Business, Enterprise & Regulatory Reform
7th Floor, 1 Victoria Street, London SW1H 0ET
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Article Published/Sorted/Amended on Scopulus 2009-01-05 21:49:32 in Business Articles