Rise in SMEs for sale expected by FPB

A representative from the Forum of Private Business (FPB) has said the organisation expects to see a rise in the number of businesses put up for sale as times continue to be tough for smaller businesses.

The FPB spokesman, Phil McCabe, said small and medium-sized enterprises (SMEs) were still likely to struggle as the economic recovery has failed to pick up any particular speed and draconian austerity measures have already started taking their toll.

"Historically firms do struggle more coming out of a recession than during it," he said, pointing out that government policies regarding how businesses are going to be able to access finance and payments will be crucial in the immediate future.

He said business owners who are unable to maintain adequate turnover will look to sell on their company. Mr McCabe added that the specialist advising stimulation of private sector growth will also be very important.

Those business owners who want to hold on to their companies and commercial property, through obtaining finance, must be fully prepared when they approach the finance providers for a loan, Mr McCabe advised. He said accounts and plans must be strong enough to overcome harsh credit conditions.


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