ICAEW offers SMEs free helping hand

ICAEW MEMBERS are to offer free advice to small businesses as part of an initiative aimed at supporting SMEs and driving economic growth.

More than 2,000 practices have signed up to provide an initial consultation with no further obligation on issues including restructuring, financial management and taxation.

The most recent Business Confidence Monitor found greater challenges surrounding regulatory requirements (36%), access to capital (26%) and late payment from customers (26%) than a year ago, indicating the economic environment remains tough.

Institute president Clive Parritt said: “Start-ups or growing small businesses need the best advice to succeed at a time of fragile recovery and limits on public spending. There is a clear need for expert business advice which helps SMEs and start-up businesses become engines of growth.”

The Department for Business is also behind the scheme. Minister Mark Prisk said: “This service is an example of how businesses can work together and will hopefully lead to local economic growth and potential job creation.”