28-03-2008
ICM offers credit crunch advice to businesses
News by Adfero for Simply Business - independent providers of public liability insurance, business finance, landlord insurance, buy-to-let mortgages & commercial mortgages.
A new publication has been prepared by the Institute of Credit Management (ICM), offering survival advice to businesses.
Entitled Combating the Crunch, the new publication has been designed to target the employees of finance departments and includes a number of ideas and suggestions for the management of cash flow, reports the Financial Times.
"Whether the credit crunch is a reality or a myth, there is no doubt that finance to support business is becoming less readily available," said a representative from the ICM. In total, around the UK 20,000 businesses are expected to receive a copy of the publication.
One of the suggestions featured within the leaflet is that the finance needed to support a business is becoming increasingly difficult to find, irrespective of whether or not the credit crunch is actually taking place.
"Business confidence has taken a knock generally, and the outlook is worsening," noted Matthew Taylor, the chief operating officer for JCB, a manufacturer or equipment for use within the agricultural and construction sectors.