Its free Business Health Check gives companies a chance to review financial fitness by using an objective assessment of business performance that identifies key strengths, prioritises areas for improvement and highlights business opportunities. The Health Check can be tailored to focus on a business’s specific needs and help develop a financial strategy to maximise cashflow and identify opportunities and effective tactics to boost sales. They can be undertaken over the phone, in workshops or on a one-to-one basis with a Business Link adviser. Alternatively, businesses can fill in an interactive questionnaire at www.businesslink.gov.uk/healthcheck to evaluate potential problems. Once completed, businesses are urged to make an appointment with a Business Link adviser on 0845 600 9006 to help review and prioritise recommended actions.

Business Link has also enhanced its guides to help businesses manage and prevent late payment and has worked with the Institute of Credit Management to compile guidelines to give businesses practical help and advice.

The guides are designed to make it simpler for businesses to manage their cashflow and cover areas such as assessing the health of your business, debt factoring, invoice discounting, recovering debt, alternatives to bankruptcy and rights under the late payment legislation, including charging interest and debt recovery costs.

The guides can be found at businesslink.gov.uk/finance. The ICM Managing Cashflow Quick Checklist and Top Tips are available at businesslink.gov.uk/businesshelp. Alternatively, call 0845 600 9006 to speak to an adviser.
Top tips Worth remembering

Business Link budget summary at www.businesslink.gov.uk has details on:

• The dedicated Business Payment Support Service, for businesses worried about being able to meet tax, NI or other payments owed to HM Revenue & Customs (HMRC). Businesses can contact HMRC to discuss payment options and temporary difficulties (0845 302 1435)
• The launch of a temporary Small Business Finance Scheme, providing support of up to £1bn of bank lending. There will also be a separate £1bn guarantee facility to support lending to exporters, a £50m fund to convert businesses’ debt into equity and a £25m regional loan transition fund
• The changes to Business Tax including the deferral of the increase of the small company tax rate and the extension of the trading loss carry back rules
• The extension of the Train to Gain programme to provide training and support to individuals in pre-redundancy situations.