An additional 16,000 small businesses and sole traders will be able to access debt advice services support thanks to a £4m funding boost through the UK government’s Money and Pensions Service.
The funding will go towards expanding access to expert support to help them get back on track, giving a leg up to a total of 75,000 businesses over the next three years.
Economic Secretary to the Treasury Rachel Blake said:
“From the plumber fixing your radiator to your local café, small businesses are the backbone of our economy, and we know they sometimes need a helping hand when times get tough.
“We’re building on the success of our expert debt services to help tens of thousands more get back on their feet.”
Money and Pensions Service CEO Oliver Morley said:
“When financial pressures mount, knowing where to turn can make all the difference.
“This vital funding will help more small business owners and sole traders get trusted advice when they need it, so they can regain control of their finances and plan for the future.”
- If you are struggling with debt, you can visit Business Debtline or GroceryAid for free advice
