Hotline numbers down
Shropshire businesses struggling to survive the recession have made fewer calls to a special recession-busting Credit Crunch Hotline set up by Business Link West Midlands than companies elsewhere in the region.
Shropshire businesses struggling to survive the recession have made fewer calls to a special recession-busting Credit Crunch Hotline set up by Business Link West Midlands than companies elsewhere in the region.
Latest figures show that, of the total calls logged with the helpline since its inception in October, only eight per cent were received from companies in Shropshire.
By contrast, firms in the Black Country have been shown to be the biggest users of the service followed by those in Birmingham and Solihull.
Due to the demand for the service Business Link has now decided to extend the helpline until the end of the year.
Research has shown that of greatest concern to callers is access to finance, with 43 per cent of companies ringing the helpline requesting urgent information on cash flow, debt management, raising finance and paying suppliers.
Following this is business management, with 38 per cent of callers asking for support on the issue. Third biggest concern was customer care, followed by legal problems, health and safety matters and environmental issues.
The research, conducted by Business Link West Midlands, has shown that small firms - those employing fewer than five people - were the most frequent users of the service, accounting for 51 per cent of all calls. Firms employing between 100-250 people only accounted for three per cent of total calls.
Alison White, BLWM chief executive, said: "The Credit Crunch Hotline went live in October and the volume of calls quickly peaked in November.
"They dipped slightly in the new year, but since February they are on the increase again with hundreds of companies requesting information, advice and support on how they can beat the credit crunch."
Advice was not restricted to new start-up businesses, as more well established companies also contacted the helpline.
Companies established less than a year ago were the largest user group at 38 per cent. Seventeen per cent of calls received were from companies less than five years old and companies trading for more than 15 years accounted for 23 per cent of the calls.
Of the region's industry sectors, retail tied with manufacturing and logistics as those most in need of advice. These were followed by construction and business/professional services, the creative and digital industries, tourism, leisure and hospitality. The least number of calls originated from the science and technology sector.
The Credit Crunch Hotline number is 0845 002 0900 and is open from 8am-6pm Monday to Friday.
l Further information is available from the main Business Link website www.businesslinkwm.co.uk
