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FSB and ASC Finance for Business release five top tips to beat the credit crunch

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Friday, 25, Jul 2008 12:00

The Federation of Small Businesses (FSB) has joined forces with ASC Finance for Business to help small businesses beat the credit crunch. Small businesses are being urged to follow five top tips to cope with the credit squeeze and protect their businesses as the economy slows.

The FSB and small business finance consultants, ASC Finance for Business highlight the pitfalls to avoid with some good old-fashioned business advice.

The top tips are:

  • Financial flexibility – deal with more than one bank;

  • Focus on your unique selling points – work hard to get lucky;

  • Plan ahead – failing to plan is planning to fail;

  • Manage your costs – do something different; and

  • Seek professional advice - don’t be afraid to ask for help.

    John Wright, FSB National Chairman, said:

    “The sustainability of the 4.5 million business enterprises in the UK is more important than ever in an uncertain economy. Small businesses do not need to panic. ASC Finance has come up with invaluable advice to steer small businesses in the right direction in this difficult time.”

    Henry Edjelbaum, Managing Director ASC Finance, said:

    “We are being inundated by enquiries from small businesses who are being let down by their banks. Having successfully worked through three financial recessions, this credit crunch is nothing new to us. We have the contacts with leading banks and the focus to help small businesses raise the right finance for their business.”

    Ends

    Notes to Editors

    1. The top tips can be found at http://www.asc.co.uk/_files/Tips_to_beat_the_Credit_Crunch.pdf

    2. The FSB is Britain's biggest business organisation with over 215,000 members. It exists to protect and promote the interests of the self-employed, and all those who run their own business. More information is available at www.fsb.org.uk.

    3. ASC Finance for Business is a market leader in arranging business finance for small businesses and entrepreneurs. The company is one of the FSB’s partners and provides financial services to its members. More information can be found at www.asc.co.uk.

    Contacts

    Stephen Alambritis: 020 7592 8112 / 07788 422155

    Prue Watson: 020 7592 8121 / 07825 125695

    Marc Shoffman: 020 7592 8113 / 07595 067068

    For regional FSB contacts please go to www.fsb.org.uk/regions

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