Freelancers to receive more support from banks

A recent survey from RBS and NatWest shows that a third of SMEs and freelancers have prioritised immediate business growth despite the turbulent trading conditions.

With that in mind the two banks have launched an online one-stop shop that will offer support and advice to help limited company contractors improve their trade and emerge reasonably unscathed from the problems that surrounded the recession.

Over 50% of the surveyed respondents, however, said they needed more economic stability before they would invest in growth. The chairman for small business at the banks, Peter Ibbetson, said that the new online review will assist these companies plan for the challenges that lie ahead and help them avoid the pitfalls that occurred during the recession. Some of the topics covered include cash flow and managing risk.

The business review is a free service, the first of its kind in the UK banking sector and it has already received praise from the director of the BCC, David Frost.

He said it was one of the most practical, comprehensive business tools he had seen.

You can find the business online review through the SME Business Knowledge Hubs on the Natwest and RBS websites.

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