Ahead of next week’s first meeting of the new Small Business Finance Forum, which will address the financial issues affecting small businesses, the British Chambers of Commerce have released some of the key points it will be bringing to the table.
Director General of the British Chambers of Commerce (BCC), David Frost, said.
“The BCC has serious concerns about the availability of credit and the tightening of credit conditions for small businesses - if things carry on like this, many sound UK businesses will be bust by Christmas.
“We have received numerous calls from small businesses who are trying to manage cashflow, but credit such as overdrafts are being withdrawn indiscriminately and terms changed without notice.
“The Government has just spent billions bailing the banks out using taxpayers’ money. Surely it's not too much for small businesses to expect the right financial support. It would be a disaster if we lost hard working businesses and their employees during this downturn."