Partner Article

Make 'business health check' a new year's resolution

North East firms are being urged to start the New Year with a “business MOT” to ensure they’re in good shape to ride out the current economic downturn.

According to Business Link, more than 10,000 companies in England have already undergone a Business Health Check since the service was launched in October.

In the North East, Business Link has carried out more than 330 Business Health Checks for local companies.

The checks are designed to ensure that firms are maximising their cash flow, marketing and business planning during the current economic climate.

Secretary of State for Business Lord Mandelson said: “In the current economic climate it’s more important than ever for small businesses to take action before they find themselves in difficulties.

“Larger firms can afford advisers and accountants. We want to ensure that small businesses, with fewer employees and limited resources, benefit from the type of advice and support they need to plan for the times ahead and to come out stronger on the other side.”

Business Link Advisor Ganesh Selvarajah added: “Smart businesses review their performance regularly to look for early signs of any issues that will affect their profitability.

“The Health Checks are a really effective way of doing this. Clients find that they give them an excellent overview of the strengths they need to build on as well as identifying potential problems, such as a cash flow.”

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