Action call as 50,000 firms ‘at risk’

THE director of the Small Firms Association has called on the Government to deliver the 3 Cs — confidence, cash flow and competitiveness to the economy.

Avine McNally said that without radical action 50,000 small businesses were at risk and 160,000 jobs were on the line.

The SFA’s autumn economic statement warned that access to credit remains a serious challenge, with 20% of small businesses not getting enough funding to survive. Borrowing costs are increasing with 15% saying they are paying more for working capital in the last three months while capital investment interest has gone up by 8%.