Make a business health check your New Year’s resolution

Small businesses are being urged to start 2009 with a ‘business MOT’ to ensure they are in good shape to ride out the current economic downturn.

More than 10,000 companies in England have already undergone a business health check since the service was launched in October last year.

Each check, which is provided by the government's Business Link service, gives free personalised support and confidential advice on maximising cash flow, marketing and business planning.

Qualified experts help draw up tailor-made action plans designed to ensure that companies are able to cope with the effects of the economic downturn. Business Link also provides a follow-up monitoring service for companies to ensure that the plan is working for them.

The business health checks are part of a range of support for businesses announced in October, including prioritised training for SMEs under the Train to Gain initiative and cash flow guides produced by the Institute of Credit Management.

Secretary of State for Business Lord Mandelson said, ‘In the current economic climate it is more important than ever for small businesses to take action before they find themselves in difficulties. So there is 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. 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.’

Business Link Advisor Ganesh Selvarajah added, ‘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.’

To find out more and sign up for your own business health check visit the Business Link website www.businesslink.gov.uk/businesshelp or call the National Help Line 0845 600 9 006.