Every business has its bad times and most are due to influences beyond your control like the cost of raw materials, suppliers who can't deliver, and customers who don't pay. Individually, they're all things small and medium-sized businesses have learned to live with but together they could jeopardise everything you've worked for.
The key to resisting trading difficulties and economic downturns is to identify the problem early and act swiftly. The sooner you talk to us about potential problems, the more we can do to help. For instance, an overdraft may be all you need to tide you over until you've sourced alternative suppliers or generated new business.
Maybe you've got a lot of equity tied up in existing assets and taking out a business mortgage could release vital funds. Or you may need to bite the bullet on more serious issues like taking out a personal loan, imposing cuts or even redundancies.
Our team of experts and relationship managers are here to help businesses like yours in the current economic climate.
Useful guides
> Managing your cash flow
> Key issues in running your business
> Budgeting
> Cost control
> Debt recovery
> Insolvency
> Managing your creditors
> Overdrafts and bank loans
> Subsidised and guaranteed loans
You might also find the managing cash flow guides from the Department for Business Enterprise and Regulatory Reform useful.
HM Revenue and Customs is also offering businesses help managing cashflow during the downturn
These products are available to businesses with a turnover of £1 million or less
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