22-04-2008
Small business group in help plea
News by Adfero for Simply Business - independent providers of public liability insurance, business finance, landlord insurance, buy-to-let mortgages & commercial mortgages.
A pressure group which supports the needs of small businesses has called for more financial help from the government if companies are to survive the credit crunch.
The Forum of Private Business (FPB) has claimed that extra tax support - along with accessibility to financial experts - is needed in order for businesses to avoid collapsing as a result of the ongoing financial instability, the Manchester Evening News reports.
A recent study by Equifax found that there was a 21.4 per cent increase in small businesses going bankrupt in the north-west of England in the first three months of 2008.
Phil Orford, chief executive of the FPB, told the newspaper: "The government recently introduced tax increases for small businesses knowing that the country was experiencing a credit crunch.
"As a result, the region's small businesses will now have to fight harder than ever to remain profitable."