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Pastimes : The Hot Button Questions:- Money, Banks, & the Economy

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To: maceng2 who wrote (1188)	12/31/2008 6:36:20 PM
From: maceng2	Read Replies (1) of 1417

Small Firms Facing Grim New Year ananova.com More than 500 businesses could go under every week next year as Britain plunges into recession. A lobby group is predicting as many as 30,000 small firms will go under in 2009 with the loss of 200,000 jobs. The Federation for Small Businesses (FSB) says urgent action is needed to help the sector cope with the economic downturn. It wants interest rate charges on credit cards to be capped and measures to ensure companies are paid on time, to keep their cash flow going. In a New Year message, FSB chairman John Wright also called for a limit on the "tide" of regulations he claims are "drowning" small firms. "With base rates at 2% and falling, the Chancellor and the Bank of England must look into capping interest rates charged on credit cards. "A cap on interest rates will at a stroke not only reduce business costs but give consumers a real boost and cut the cost of borrowing." Mr Wright said 2009 must be a "year of action" for small businesses. "The small business sector is the sector to see the UK out of the recession." he said.

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