Firms: get a business health check

05/01/2009

UK companies are being encouraged by the government to take a free business health check.

The so called "Business MOT" is offered by the Department for Business, Enterprise and Regulatory Reform and has been taken by more than 10,000 firms.

The checks are undertaken by the government's business link service and look at cash flow, marketing and business planning

"In the current economic climate it's more important than ever for small businesses to take action before they find themselves in difficulties," noted secretary of state for Business Lord Mandelson.

The initiative was devised to appeal to the smaller business: "We want to ensure that small businesses, with fewer employees and limited resources, benefit from the type of advice and support they need to plan for the times ahead and to come out stronger on the other side," he added.

It is important all firms maintain a watchful eye on their own finances – according to research conducted by Dealogic for the Sunday Telegraph, British companies have £25 billion of debt in bonds and £85 billion in loans.

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