Good News on Fighting the Credit Crunch
The government has announced that it will channel more funds into small businesses in order to help them through the credit crunch. There will be £350m of funds from a pre-existing training programme diverted into training the employees of small business over the next three years. The training will be aimed at improving their business management techniques.
They have also pledged to pay any government suppliers who are small businesses within 10 days as opposed to the usual 30 days. This is to help with cash-flow, which is the biggest cause of businesses failing in more buoyant economic climates and exacerbated by the credit crunch.
Small businesses have been hit very hard by the lack of credit available due to the crunch. Three of the banks which accepted government assistance have given their assurance that they will continue to lend money to small businesses at the same level as 2007. The government has said that it will be talking to other banks in an attempt to ensure the continuation of the credit and lending they had previously offered to small businesses.
The government feels that all these measures are necessary and they are designed to help small businesses survive the credit crunch, as they play such an important part in our economy and employ the majority of our work force as well as provide valuable services. The Skills Secretary John Denham said in a statement, “Small businesses are an important engine of our economy and we must make sure that we support them during tough economic times”.
Conservative leader David Cameron has called on the government to give small businesses six months longer to pay their VAT bills. He believes that tax breaks are an important way in which the government could be helping.
We are very aware of the credit crunch ourselves and are doing what we can to help our customers. A great way to use your IT during this difficult time is to make sure that your systems are running as efficiently as possible. A small change could increase your efficiency and your profit margin. We offer a free, no obligation, evaluation of your systems - a service we call ‘IT Fact Find’. For more information on this service, please use the following link:
http://www.eximium.net/factfind.asp
We also believe that training is a great way to improve efficiency and provide training for business people to help them get more from their IT. For more information on the training services we provide, please see this link:
http://www.eximium.net/training.asp
Also, our MD, Derrick Cameron, is leading some workshops in November entitled ‘Fight the Credit Crunch with IT’, aimed at business owners and managers, in conjunction with EEDA and the TakeITon programme. This session is designed to demonstrate how the IT you probably already have can help you boost your business when times are tight and you need to make the best use of your resources.
The workshop is being held at three venues across the region.
• 17th November – Peterborough Holiday Inn
• 18th November, Wyboston Lakes – Waterfront Centre (Beds/Cambs border)
• 25th November, Hethel Engineering Centre, Norwich
To book your free place on one of these workshops, you can email your request to takeiton@eeda.org.uk