Will firms seek facilities management after FSB deems credit cost worrying?
April 27th 14:34 Cost Management
The cost of managing credit agreements has reached a "worrying" level for small British businesses, according to one industry body.
This could inspire a number of firms to look into reducing their operating costs through effective facilities management, in order to improve their cash flow.
A recently-published report by the Federation of Small Businesses (FSB) has revealed that just 18 per cent of enterprises have recently approached a bank in order to take out new credit.
The figures also show that those firms with existing credit arrangements are now facing increased costs.
While 44 per cent face higher costs of between two and three per cent, the FSB expressed concern after 12 per cent have seen their costs rise by between ten and 14 per cent.
John Walker, the organisation's national chairman, said: "Small businesses continue to bear the brunt of the financial crisis and are being penalised with extortionately high interest rates.
"At any time, not least when the economy is on such a fragile path out of recession, a ten to 14 per cent increase in costs is highly unreasonable." 
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