Action needed to support small businesses

10.03.00am GMT Mon 27th Oct 2008

Jo Swinson has set out Liberal Democrat plans to help small businesses, during a visit to Omega Models in Kirkintilloch.

Omega Models is a company specialising in producing high quality 3D models for the Offshore Oil & Gas, Marine and Construction Industries. The company has over 30 years experience working in this field.

During the visit, Jo discussed the effect of the current recession with Robert Munn, Managing Director of Omega Models Ltd. She explained plans put forward by the Lib Dems to help support small businesses, including:

? Pushing for a substantial cut in interest rates to lower the cost of loans and investment.

? Banks who have received government financial assistance adopting a new code of conduct on rearranging business credit and overdrafts.

? Developing an assistance package with energy companies for small businesses struggling with high energy bills.

Commenting on the visit to Omega models, Jo said:

"Omega Models is exactly the kind of small business that we need to show support for during the difficult economic times ahead. Innovative, skilled and successful, the company is nevertheless bracing itself for the effects of the economic downturn.

"One significant positive for Omega Models came in the form of a recently secured major contract from a new Dutch client for their services. This shows that small companies like Omega Models are still well placed to operate in the marketplace as long as banks do not react to the credit crunch in a heavy-handed way.

"The Government was quick to come to the rescue of banks. Now it must do the same for small businesses by taking steps to ensure lines of credit are kept open, cutting interest rates to lower the cost of loans and helping companies facing spiralling energy bills.

"Small businesses are the lifeblood of our economy. Safeguarding local businesses and local jobs must be a top priority for Government in the months to come."

Related Links:

Omega Models Ltd

Lib Dem economic recovery plan