Credit crunch easing, businesses suggest

Date: 6th April 2009

The effects of the credit crunch could be easing, according to a new survey of small businesses.

An investigation by the Confederation of British Industry (CBI) found that a dwindling number of firms identified access to credit as a serious issue during March.

Despite this, the research suggested that a large number of companies were still having trouble securing lending - something which an accountant could provide valuable advice on.

Chief economic adviser at the CBI, Ian McCafferty, said: "Fewer firms said in March that the availability of credit had got worse for them in the past three months than did so in February or January."

He added that while businesses are not saying that credit conditions are getting better, the "severity of the disruption was no longer worsening".

Meanwhile, this month will see all of the government's support services rolled up under the Business Link banner in a bid to improve access to advice.