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Search forOne third of new firms fail in three years
16:49 - 22-April-2008
The Government support service Business Link has found that 29 out of London's 33 boroughs are seeing more business start-ups, but existing businesses are not aware of some of the threats and challenges they could face in coming months.
However, the service has launched a Business Booster campaign that offers a ten-minute online review of a company's performance.
As well as the review tool, the new site offers access to local events, fact sheets and further advice.
The Government is not doing enough to help smaller companies protect their cashflow, say payment experts.
And present legislation designed to help small firms get paid on time is not working, they claim.
Martin Williams, managing director of credit risk company Graydon UK, says: 'The 1998 Late Payment of Commercial Debts (Interest) Act simply hasn't worked and while the prospect of further interest rate cuts will be welcomed by small firms, this alone will not cure all the ills of the credit crunch.
'Late payment is starving businesses of cash that is rightly theirs and is heightening the risk of them going to the wall in an already incredibly challenging economic operating environment.'
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The motorist feels somewhat battered from all sides, seeing the oil companies going off with cash in their pockets and the Treasury filling its coffers
