Small businesses to benefit from strengthened debt advice services

Small businesses and the self-employed struggling with their finances to receive a helping hand as debt advice services are strengthened, the Treasury has announced.

The Treasury is making a £4 million funding boost over three years for business debt advice services support.

The funding will go towards expanding access to expert support to help businesses get back on track. The Treasury says this will benefit an additional 16,000 businesses over the next three years to total 75,000 businesses.

The Treasury says the funding builds on the success of the Business Debtline delivered by Money Advice Trust

There will be an additional £2 million funding this year to help modernise debt advice, it added.

Rachel Blake, Economic Secretary to the Treasury, 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.'

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