Business basics — answers to your common retail problems

Guaranteed loans
Question I have been turned down for a loan to help me grow my business, the main reason being the lack of necessary assets to secure them. Would I be eligible for help under the Small Firms Loan Guarantee Scheme?

Answer You have the chance to borrow between £5,000 and £250,000 for up to ten years from a number of approved lenders, with the Government guaranteeing 75 per cent of the loan amount.

The scheme has been a great help to growing small businesses, but is not for everyone and a number of borrowers have become unstuck. Your business must not turn over more than £5.6m and, under new rules, must be established for less than five years.

You will need to put up some security for the part of the loan not guaranteed and be prepared for a rigorous credit check. It is important to seek advice and assistance from a qualified accountant before taking any action.

You will also need a convincing business plan.

Health and safety
Question What is a good source of advice on improving health and safety in my small, family-run business?

Answer The Government has issued some useful advice for small businesses.