the business ladder

The Federation of Small Businesses (FSB) has called on both the public and private sector to support SMEs over the Christmas and New Year period, where adverse weather and economic conditions are putting them under extra pressure.

The ‘big freeze’ has caused travel chaos, with shoppers struggling to get to the High Street and workers stuck at home rather than face potentially hazardous driving conditions.

The disruption caused by the snow and freezing temperatures is believed to be at a daily cost to the economy of between £600 million and £1 billion.

In order to help small businesses survive during this testing period, the FSB wants HMRC to extend the ‘Time to Pay’ scheme, which allows for small businesses to pay when their cash-flow situation has improved.

The FSB has also asked for landlords, especially local council housing authorities, to put off rent increases and is calling on local councils to temporarily reduce business rate bills for businesses experiencing financial difficulty.

However, with the high level of cuts being faced by local authorities, putting extra pressure on the councils may be a fruitless strategy.

The FSB also asked that banks, utility and insurance companies give small businesses extra time to pay their bills.

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