Small business fund 'not enough'
Oct 28 2008
The £350 million set aside by the government for training in small firms is not enough and these businesses need more help, according to an expert.
Richard Boot, West Midlands chairman of the Institute of Directors, says the package is welcome, but is not enough to help companies in the coming months, reports the Birmingham Post.
He states while training is 'critical' for small firms, these businesses need help with other aspects, such as cashflow and lending from banks.
Boot says this increased income will determine whether a firm survives or not and only a multi-pronged attack will work as there is no simple solution.
'We need action on cashflow, delays or scrapping of employment legislation that will hinder job creation and retention and we need urgent action to kick-start the housing market, particularly at the lower end,' he tells the newspaper.
Boot also comments that while progress from the government on speeding up the payment of bills from public sector bodies is good, it does not address the issue of payments from large firms to smaller companies.
Advice website ByteStart.co.uk reports the money offered by the government is not new and was already allocated for this purpose.
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