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Business liquidation advice customers 'should be mentored'

Date Added: 12/10/2010  

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A new mentoring system should be introduced in order to prevent new firms from needing to take business liquidation advice.

This is according to the Federation of Small Businesses (FSB), which is calling on the government to bring in the measure as part of the £10 billion annual support the state provides for companies.

John Walker, national chairman of the FSB, added that examples of the scheme working in practice can be seen in volunteer programmes.

"Small business management is complex and requires competent advisors who have had experience in running a successful business," he said.

Mr Walker argued that lending decisions by banks should take into account whether or not business liquidation advice customers are receiving help from a mentor.

The FSB wants the coalition government to "create a National Mentoring Service through the Institute of Enterprise and Entrepreneurs" in order to match advisors with businesses at each stage of their life cycle.

Earlier this month, the British Bankers' Association announced it is considering setting up a fund for small businesses. 

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