Saturday 26 February 2011

Small Businesses Struggle for finance !!

Small businesses in the UK are still struggling to access finance, according to one expert.
Ed Moss, a spokesman for the Manufacturing Institute, has claimed that the age-old problem "has not gone away".
The comments coincide with the launch of the European Commission's EU-wide Small Business Act, which aims to improve smaller enterprises' access to finance.
As part of the Act, public authorities will be required to pay suppliers within 30 days, which should improve the cash flow of businesses.
However, Mr Moss added that small business owners have learned to take bank's "glossy statements" with "a pinch of salt".
"They are still having trouble finding finance; the banks are not yet lending," he explained.
"Of course, it's the smaller guys that unfortunately suffer when it comes to producing the goods – they send them out, they've been delivered and then, of course, they're chasing the money. So cash flow is still a problem; it has not gone away."

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