Will lack of funding inspire firms to adopt facilities management cost reduction processes?
September 22nd 11:51 Cost Management
There is "very little" funding available to UK businesses in the current climate, according to one expert.
This could inspire a number of firms to adopt facilities management cost reduction processes in order to maximise their profit margins.
Simon Ellingworth, director of enterprise support organisation Business Smiths, said that many firms are having "no joy" when asking banks for funds and that the situation is unlikely to improve in the near future.
"I can't really see any end for it. A couple of bank managers who I have spoken to, didn't say anything officially, but [said] the outlook wasn't particularly likely to change in the short-term," he said.
"We've been helping four or five business at the moment all trying to raise funding from other sources. Apart from young entrepreneurs who there are a couple of mediums available such as Prince's Trust, there's very little available for people to aim at."
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