A new ‘Guide to Managing Business Debt‘ for SMEs from the British Business Bank is now available.
The last 20 months have been challenging for everyone across the UK, small businesses and business owners included.
The severe impact of the Covid-19 pandemic sent many businesses into survival mode, where the priority was finding ways to overcome the enforced closures, the lockdowns and the financial hardship that the spread of coronavirus brought. For some businesses, this remains a priority.
While it is true that survival is still front and foremost in some businesses’ minds, others have been able to recover and can now look positively towards the future.
This guide has been designed to provide impartial information to help businesses through survival and onto recovery, helping them stabilise and move forward to growth and future success, focusing on the following areas:
- Understanding debt finance
- Managing debt
- Improving your cash flow
- Moving from survival to recovery and growth
- Resources for businesses worried about their debt
The British Business Bank has produced the contents of this guide with contributions from Be the Business, an independent, not-for-profit organisation whose goal is to help business owners and leaders improve their businesses’ performance.