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Govt action needed to help small firms

The government must take action to help small businesses stay afloat giving the present financial difficulties facing the economy, it has been stated.

John Walker, national chairman of the Federation of Small Businesses (FSB), said there has been a 14 per cent increase in the number of small firms that claim to be facing serious financial problems and this is therefore an issue which needs immediate government attention.

He commented: "The FSB urges the next government to look at ways to help small firms stay afloat."

According to research recently carried out by the organisation, seven in ten FSB members have been operating below their output capacity in the three months up to March.

However, while sales have decreased for 40 percent of members over the last three months, a similar proportion think that this will increase over the next quarter.