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Does your firm need insolvency lawyers?

Published on 10 May 2010 under category: legal

New figures indicate that rates of small business failure may slow down.

The BBA's latest Small Business Support figures may give hope to firms that could be in need of insolvency lawyers.

Lending to the small business sector went up in March.

Banks surveyed included NatWest, the Co-operative Bank, Santander UK and the Lloyds Banking Group.

There was £678 million worth of new fixed-term lending to firms, which tops the amount given to companies in February.

It also found that there were over 58,000 new arrangements and relationships established between lenders and businesses last month.

This is the highest total in any one month since small business figures have been recorded by the BBA.

However, many firms may still face the possibility of calling in insolvency lawyers.

Recent surveys have shown that many companies are still have difficulties with their cash-flow and still feel that they have little support from lenders.

A survey by the Federation of Small Businesses last month found that only 18 per cent of its members had tried to get credit from banks.

If you require advice on Insolvency and Bankruptcy please call us on +44 (0)20 7831 0101 and ask for Katherine Sillett.