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Funding squeeze could lead to more companies needing debt advice

Date Added: 06/08/2010  

Looking for business debt advice in Birmingham? Call 4R Business Recovery for help

More firms could need company debt advice in Birmingham because of a national funding squeeze.

According to former Apprentice winner and founder of Bright Ideas Tim Campbell, a lack of government contracts filtering down to small businesses may cause them financial problems.

He pointed out that while this is unlikely to be an issue for some companies, others will be hit hard by the loss of income.

"The wider economy is not going to have as much money to spend, therefore it will impact because the high street is going to suffer," he commented.

Andrew Cave, head of policy at the Federation of Small Businesses, added that smaller local businesses are more likely to be affected by large national corporations.

The pair were speaking at the T-Mobile Small Business Roundtable Debate.

Education secretary Michael Gove has recently been criticised for halting the government's schoolbuilding programme, which could lead to small building companies losing out on important income. 

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