Transitional allowances could help new business

Those who are starting a new business or already running one could benefit from calls by one company owner for transitional allowances to be introduced as part of rental agreements.

Roger Povey, owner of Mayhem Board Store, claims that councils could be doing more to support small businesses, especially during the difficult financial situations many firms are finding themselves in due to the credit crunch.

By granting businesses with transitional allowances they may be able to grow and develop rather than falling at the first hurdle, he believes.

Mr Povey continued by saying: "A small business owner would be given the chance to succeed in the long-term and not have to make incredible success rates straight away."

Last week, David Kern, an economic advisor at the British Chamber of Commerce, stated that as long as businesses are well managed, they should be able to thrive in the financial downturn in the UK.

Published on: November 10, 2008

Did you like this article? Share it!