Commenting on reports that small and medium-sized enterprises could receive support in next week’s Budget from new government guarantees on trade credit insurance, David Frost, Director General of the British Chambers of Commerce (BCC), said:

“Supply chains have undoubtedly been hit by the withdrawal and reduction of credit insurance facilities. If implemented, a government guarantee scheme will help to ease the difficult conditions that small and medium-sized firms are operating in.

“It is crucial that any scheme is quickly and efficiently implemented so that struggling companies can take advantage of it as soon as possible. It will be business that drives us out of recession, so supporting them through this downturn is crucial.”