There’s no doubt times are challenging for retailers of all sizes. For some large retailers, there are short/long-term solutions to help them avoid falling into administration; these include securing emergency funding (Wilko has been offered a £40m asset-based credit facility from investor, Hilco) or selling off assets (Fenwick opted to sell off its famous Bond Street store last year). Others, such as fashion retailer, Joules, discounted its stock in an attempt to recover from challenges around rising freight costs, stock delays and labour shortages.

But what support is available to smaller, high street independents?

Financial pressures caused by lockdown measures, the Ukraine invasion, shipping costs, rising inflation and sky-rocketing energy bills are putting businesses at risk, in particular those who don’t tend to have capital available to expand and invest and who must rely on external finance for their business operations, cashflow, and investment opportunities.

Access to finance is crucial to increase small business investment and a new report from The Federation of Small Businesses (FSB) has revealed some of the challenges faced by businesses whose debt is holding back growth and offered its recommendations. ‘Credit Where Credit’s Due’ can be downloaded here: https://www.fsb.org.uk/resource-report/credit-where-credit-s-due.html