Small businesses and self-employed workers facing financial pressure are set to receive additional support, as the Treasury strengthens business debt advice services.
The government has announced a £4 million funding boost over three years to expand access to expert debt advice, helping more firms manage financial difficulties and get back on track.
The additional funding is expected to support 16,000 more businesses over the next three years, bringing the total number helped to around 75,000.
The Treasury says the investment builds on the success of Business Debtline, delivered by the Money Advice Trust, which provides free, independent support to business owners dealing with debt and cash flow problems.
A further £2 million will also be provided this year to help modernise debt advice services, making support easier to access and better suited to the needs of small firms and the self-employed.
Rachel Blake, Economic Secretary to the Treasury, said small businesses remain the backbone of the economy, from local cafés to tradespeople, but acknowledged that many need practical help when times become difficult.
The announcement comes as many small firms continue to face pressure from higher costs, late payments and uncertain demand. For businesses operating on tight margins, early debt advice can make a significant difference, helping owners understand their options before problems escalate.
For small businesses and sole traders, the message is clear: support is available, and seeking advice early could be key to regaining control of business finances.
