Cash Flow Problems For SMEs Being Addressed
Cabinet Minister Francis Maude has revealed that the government is on course to more than double its expenditure with small and medium-sized firms from 2010 levels by the end of the month. This, combined with recent figures from the Asset Based Finance Association, will hopefully go some way towards easing some of the most common cash flow problems facing SMEs at present.
Speaking at the Public Procurement Briefing 2012, Maude said that 13.7% of its spending will go directly to SMEs by the end of March, which is up from 6.7% two years ago and equates to more than 6 billion.
He announced: “We said we wanted to improve things for smaller businesses and today we have shown that the measures we introduced a year ago are making a difference.”
It’s often said that the UK’s SMEs are the lifeblood of the economy, yet they have borne the …
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