SME survival package

Peter Mandelson

Business groups welcome SME Survival Package

Business groups have welcomed the Government’s package of measures to help small firms survive the economic slowdown. The support package, unveiled by recently appointed Business Secretary Peter Mandelson, focuses mainly on preserving cashflow and access to finance for SMEs. The support includes a commitment to get government bodies, such as NHS trusts, local authorities and other public sector employers, to pay SME contractors within ten days, rather than the current 30. This ten day pledge takes immediate effect within central government departments. The Government is also offering free financial guidance for businesses from the Institute of Credit Management on invoice chasing, debt management and credit insurance, and has launched a £350 million training fund to help small ... »