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Real help with lending and advice for local businesses

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Date: 14 Apr 2009

Business Minister Ian Pearson today urged local companies to take advantage of Government-backed support on offer to help them through the economic downturn, at a regional lending roadshow in Greater Manchester.

Mr Pearson said Government action is increasing the lending available from the banks and easing cash flow pressures by allowing businesses to delay payment of taxes and business rates.

The regional roadshows bring together Government Ministers, representatives from the banks, small business owners and experts from the Business Link advice service.

Businesses will be able to raise lending issues affecting their companies and will be given information and advice on sources of additional lending and support from the banks and Business Link advisers.

Business Minister Ian Pearson said:

"Today's meeting brings banks and businesses together to improve understanding of the pressures on business, and the support banks are able to provide.

"I know that many local businesses are feeling the pressure, as cash flow has become tighter and access to credit has been squeezed.

"The government understands the vital contribution businesses in the North West make to the UK economy. That's why we have taken decisive action to get credit flowing again and why it's crucial that businesses understand what support is available to them from banks and the government, and how they can access it."

Executive Director for the NWDA Mark Hughes said:

"By bringing banks and businesses together for this series of events across the Northwest, we aim to improve mutual understanding of the pressures businesses are dealing with and the support that banks are able to provide. At the same time the events will provide an opportunity for us to discuss what Government is doing to make more lending available to businesses in the Northwest."

Notes

1. Information on the Government's "Real Help for Businesses" support package is at: http://www.businesslink.gov.uk and http://www.realhelpnow.gov.uk

2. More than 11,100 businesses in the North West have deferred VAT and other taxes worth 188m from November to the end of March. Under the "Time to Pay" scheme, HM Revenue and Customs agrees businesses can delay VAT, Corporation Tax and other taxes to help them with short term cash flow difficulties.

Figures for taxes deferred in the North West by region area are:

Region                     Total Cases             Total m Value
Blackburn with Darwen      190                     4
Blackpool                  250                     3
Bolton                     380                     7
Bury                       300                     4
CHESHIRE                   1500                    27
CUMBRIA                    1110                    12
Halton                     130                     2
Knowsley                   140                     2
LANCASHIRE                 2000                    30
Liverpool                  510                     11
Manchester                 550                     12
Oldham                     300                     4
Rochdale                   290                     6
Salford                    310                     9
Sefton                     360                     6
St. Helens                 200                     4
Stockport                  570                     10
Tameside                   280                     3
Trafford                   540                     13
Warrington                 350                     4
Wigan                      430                     9
Wirral                     430                     6
                           11120                   188


3. Nearly 40,000 companies have had a free 'business health check' from Business Link since October, including nearly 3,351 in the North West.

4. Today's meeting is one of nine regional lending roadshows taking place in the West Midlands, East Midlands, North West, North East, South East, South West and Yorkshire regions. Further information about the roadshows is available from the BERR press office on 0207 215 5614.

5. The Greater Manchester event is being held at the Digital World Centre, Salford Quays at 12.00pm.

6. The Department for Business Enterprise and Regulatory Reform helps UK business succeed in an increasingly competitive world. It promotes business growth and a strong enterprise economy, leads the better regulation agenda and champions free and fair markets. It is the shareholder in a number of Government-owned assets.


About the Author

Crown Copyright. Material taken from the BERR- Department for Business, Enterprise and Regulatory Reform replacing DTI - Department for Trade and Industry. Reproduced under the terms and conditions of the Click-Use Licence.


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Article Published/Sorted/Amended on Scopulus 2009-04-14 18:46:23 in Business Articles

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