Close Invoice Finance poll makes economy top issue

Jan 12 2010 by Henryk Zientek, Huddersfield Daily Examiner

COMPANIES in Kirklees have put an improvement in the economy at the top of their wish list for the year ahead.

A survey by Close Invoice Finance, part of merchant banking group Close Brothers Group plc, showed that owner-managers across the district would prefer to see improved trading conditions in 2010 above other options such as improved funding, additional staff and a better work/life balance.

Close said the poll result reflected general concerns over the stability of the UK economy – with small and medium-sized firms worried about market volatility and securing their cash flow.

Some 44% of small business owners also admitted to having suffered sleepless nights worrying about the economic crisis.

David Thomson, chief executive officer of Close Invoice Finance, said the wish for a “better economy” in 2010 came as no surprise – given that the Insolvency Service had logged 4,716 new corporate liquidations nationwide in the third quarter of last year.

He said: “For their own peace of mind throughout 2010, it is crucial that owner managers adopt a robust attitude to risk and consider how best to safeguard the long-term health of their business.”