FOR IMMEDIATE RELEASE

The Forum of Private Business has raised concerns about the impact on the business community of today’s base rate rise.

Today’s rise represents the first increase since July 2007.

Ian Cass, Chief Executive of the FPB, said: “While the small increase may not impact businesses hugely, it will make them think again about their spending commitments. At a time when the business community is already being cautious, this rise may lead many to hang onto their cash to ease difficult cash flow issues.

“Additionally, late payment issues will have a greater impact than previously and they will think even harder before lending money to invest in growth.”

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About Forum of Private Business

The Forum of Private Business is a not-for-profit comprehensive business support organisation founded in 1977. Our membership is spread throughout the UK and primarily made up of companies that employ between 1-50 employees, helping them to manage employees, saving time, giving advice, support and protection where a business needs it.

We are a recognised leading authority on business issues and represent the interests of business owners on many consultative bodies. We have built a solid reputation, being influential in many areas of policy-making, in changing laws that affect small businesses, and we continue to campaign for the fair treatment of businesses within the UK.

Everything we do is about making sure our members’ businesses operate profitably. This means that every penny we make goes back in to supporting our members, providing the support and resources that will enable businesses to flourish and grow.