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More to be done to help small businesses

Friday 1st February 2013

Following today’s insolvency figures announcing a fall in company insolvencies, Business Debtline, the free, independent advice service for small and micro businesses, is warning that there are many thousands more small businesses across the UK struggling with their debts.

Last year Business Debtline spoke to more than 25,000 small business owners and directors, asking for help with debts.

Nicola Connop spokesperson for Business Debtline said:

"These figures mask increasingly tough times for small businesses in England and Wales. Whilst the failure of big name retailers hits the news, many thousands more small businesses struggle on in relative silence. However there are things that can be done to help small businesses continue trading, for example we would encourage local authorities to be less aggressive when collecting business rates. We have heard many examples of businesses going under unnecessarily because bailiffs have seized essential business property, when a more sustainable repayment plan could have been agreed.


“Whilst insolvency can seem like a daunting process, there are occasions where it will be the best option, both financially, and also with a view to trading again in the future. Business Debtline can help small businesses identify when insolvency might be a sensible move, and where it isn’t the right option we can help small businesses get back on their feet.” 


Business Debtline is open 9am – 5:30pm Monday to Friday. Call 0800 197 6062 for free, independent and confidential advice.

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