All RDAs across England are closing by March 2012
(see transition and closure section).
With our resources reducing steadily, this page has not been recently updated and the information below may not be current.
If in doubt, please contact us directly.
Helping region's businesses through the economic downturn
02 January 2009
Businesses in the South West are increasingly seeking advice on
cash flow management and effectively planning their way through the
economic downturn, according to figures from Business Link and
survey evidence from the South West RDA.
More than 900 businesses in the region have received intensive,
one-to-one help from Business Link advisers since the end of
October 2008 , with more than three-quarters of these being firms
with nine employees or less and many thousands more businesses have
accessed essential information online at www.businesslinksw.co.uk.
Top of the agenda has been the issue of cash flow and late
payments, which is now becoming critical to many small businesses.
This is followed by requests for advice on spreading risk
associated with over-reliance on a one major customer and then
effective business and staff planning.
Approximately one-fifth (18 per cent) of businesses state that
cost of finance is their main cost pressure at present. Access to
finance is an important consideration for competitiveness for 45
per cent of businesses.
The South West RDA is playing a key role in co-ordinating and
managing a diverse range of support for more than 418,000
businesses in the region, with much of the work on the front line
being done through its delivery partner, Business Link, which is
funded by the Agency.
Stephen Peacock, South West RDA Executive Director of Enterprise
and Innovation, said: "Our research shows that companies of all
sizes and across a growing number of sectors are experiencing real
difficulties or weakening confidence in the current economic
climate.
The region's economy has made strong progress in the last decade
and we are taking a lead in helping businesses through this
difficult time, as well as planning for future growth, by
simplifying and improving access to all of the business support
products we invest in and implement as well as developing new
initiatives.
This broad package of support includes coordinating the response
to large companies in difficulty and timely advice and guidance,
through Business Link, to help businesses manage through these
challenging times."
Within the package being coordinated by the RDA, Business Link
is offering a dedicated support package including a Business Health
Check with an adviser, access to finance expertise, credit crunch
presentations, finance clinics and guidance and events on how to
survive and thrive in difficult times. There is also an online tool
available to check the health of a business at www.businesslinksw.co.uk/healthcheck
which can be accessed 24 hours a day.
Business Link is also able to offer advice on accessing to the
RDA-funded Resource Efficiency Programme, specialist skills
assessment and the Train to Gain service and analysis and
information on new business opportunities and markets.
Ian Gent from Business Link said: "Business Link is providing a
frontline service to help businesses already affected by the credit
crisis and will also be on hand to provide guidance to help others
take some essential action to help 'recession proof' their
business. We are here to help businesses of any size or sector from
across the region to get through these challenging times and would
encourage them to get in touch."
Companies wishing to have a Business Link Health Check or
interested in accessing the other initiatives being developed by
the RDA, Business Link and other partners should contact: 0845 600
9966 or visit www.businesslinksw.co.uk
Ends
Notes for Editors
The South West RDA leads the development of a sustainable
economy, investing to unlock the region's business potential. It is
helping companies respond to the economic crisis and charts a
course for recovery. The RDA is developing or expanding initiatives
which include: establishing a Business Loan Fund; coordinating the
response to large companies in difficulty; preparing for economic
recovery.
Contact Details
Name: John Casey
Tel: 01208 77900
Email: john.casey@dca-pr.co.uk