Businesses are being told that they should be conducting health checks on their business throughout the economic crisis in order to avoid any unforeseen issues that could punish them.  The warnings comes as economic analysts have claimed that thousands of small businesses across the country could meet their peril in 2009 due to the downturn.

Consultations have taken place across the country and 10,000 small businesses have already attended to check the health of their business, still the Department for Business, Enterprise and Regulatory Reform has released a warning that more small businesses need to attend the consultations and check the health of their businesses through the Business Link Service if they want to survive the crisis.

Business Links, set up by the Government focuses on how businesses can maximise cash flow, planning for the future in the economic crisis and how to market the company for smaller costs.

The secretary of state for business, Lord Peter Mandelson, claims that now is the time for the companies to act on the matter, and is urging businesses to not wait until it is too late.  He has highlighted the importance of checking the health of the business so that the company can judge how they will be able to face the coming year.

‘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,” claims Lord Mandelson.

“In the current economic climate it’s more important than ever for small businesses to take action before they find themselves in difficulties. So there’s no better way for companies to start the New Year than with a free Business Health Check looking at issues such as maintaining cash flow.  Larger firms can afford advisers and accountants.”  Mandelson went on to say.

Ganesh Selvarajah, an advisor for Business Link, states that the health checks that are being offered are incredibly important, especially at a time when companies are struggling against the odds to stay afloat.

“Smart businesses review their performance regularly to look for early signs of any issues that will affect their profitability.  The Health Checks are a really effective way of doing this. Clients find that they give them an excellent overview of the strengths they need to build on as well as identifying potential problems, such as a cash flow,” said Selvarajah.

Unemployment rates are raising higher and higher as more businesses are being forced to close their doors due to the economic crisis.  Surely every ounce of help can be a good thing and should be taken up if businesses wish to remain solvent through the downturn.  Still some have criticised the Business Link service for its approach to business support, however in such a crisis many businesses are realising that steps must be taken to guarantee success in 2009.

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