• Government could help small businesses by making

11th march 1993, Page 12

11th march 1993

Page 12

Page 12, 11th march 1993 — • Government could help small businesses by making

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• Government could help small businesses by making tax changes to encourage retention of surplus profits within businesses, introducing a statutory right to interest on overdue trade debts and establishing a manufacturing support scheme for companies, says the Midland Bank.

Midland chief executive Brian Pearse is calling on the Government for a package of measures designed to help small businesses through the recession.

Companies themselves could concentrate on improving cashflow by using factoring more, take on longer-term funding and aim to produce accurate managment accounts promptly. Banks could widen the use of factoring and invoice discounting, reposition their lending policies and expand the use of equity.