31-08-2007
No SME is a castle
If you're starting out on a new business venture it may feel like you're out there on your own, but experts advise that there is much support and advice available if you know where to look.
Dr Tracey Marr, director of community enterprise for Business Boffins, said that SMEs (small to medium sized enterprises) can seek support from both the public and private sector, on a regional or national level.
She explained that schemes such as Business Link and others run through the government have "always" had a strong presence, which is complemented by "a lot of private support groups".
Many banks offer "competitive" packages to SMEs, Dr Marr remarked, adding: "When you start a business account with any of the big banks, they have a relationship manager … to talk through your business proposal."
Statistics collated by the Department for Business, Enterprise and Regulatory Reform in 2005 indicate that 92 per cent of VAT-registered SMEs in the UK were still trading after one year.
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