Member Article

Support for firms during economic downturn

Business Link has announced a new initiative to provide additional support for the region’s businesses during the economic downturn. The package incorporates a range of assistance, including free business health checks and the roll out of a series of workshops designed to help firms take practical steps to deal with some of the issues they are facing in the current climate.

The support package is backed up by an investment of £1.8m by One North East. Designed to help firms affected by the downturn, this extra financial support will provide assistance towards debt management, financial structuring, expanding new markets, re-structuring and developing new products.

Jo Boaden, director of information at Business & Enterprise North East, which is responsible for managing and delivering Business Link in the region, said: “There is no escaping the challenging environment in which businesses are operating at the moment. The support that is on offer is both immediate and for the long term. This new package provides some extra advice and support when firms need it most, which will in turn put businesses in North East England in a position to emerge confidently from the present difficulties.”

This latest announcement builds on business support measures launched by Lord Mandelson in October.

One North East’s Director for Business and Industry, Ian Williams, said: “Business Link is a crucial resource for firms at this time and we’re working very closely with the service to ensure that businesses in the region can access all the support they need.

“Added to the practical credit crunch advice and support already being offered to firms by Business Link, this additional investment will further enable companies to continue planning and looking forward - despite these tough conditions.”

For further information about Business Link support, visit www.businesslink.gov.uk/northeast.

This was posted in Bdaily's Members' News section by Ruth Mitchell .