LIB DEMS HELPING LOCAL BUSINESS IN THE CREDIT CRUNCH

12.01.00am GMT Fri 27th Mar 2009

Lib Dem Sheffield City Council is offering help and support to local business during the credit crunch. Local Council suppliers with an 'S' postcode who may be experiencing cash flow difficulties can now take advantage of quicker payment terms thanks to the Lib Dems. Sheffield suppliers who are facing problems are being encouraged to contact the Council and explain their situation so that their payment terms can be speeded up.

Councillor Sylvia Anginotti, Cabinet Member for Employment and Enterprise said: "Times are tough for businesses and we want to do everything we can to help our local suppliers who are feeling the credit crunch. This is just one of the ways we are offering a helping hand to business. Each supplier will be assessed on their individual circumstances. This isn't about a one size fits all approach but about helping individual businesses who may be experiencing cash flow problems in the current economic climate. I'd encourage any Council supplier in the city, facing problems to come forward and speak to us. We'll be able to provide businesses with payment terms that suit their individual needs."

The standard current payment terms for Council suppliers are 30 days. Reduced supplier terms would be 14 days with a six monthly review.

New arrangements will be decided on an individual basis, appropriate to the business's circumstances and in the best interest of the tax payer.

Council suppliers can find out more by emailing cccpurchasing@sheffield.gov.uk

To find out more about what Sheffield City Council is doing for local business go to www.sheffield.gov.uk/business