Business Minister Shriti Vadera yesterday urged local companies to take advantage of Government-backed support on offer to help them through the economic downturn, at a regional lending roadshow held in Birmingham.

Shriti Vadera said Government action is increasing the lending available from the banks and easing cash flow pressures by allowing businesses to delay payment of taxes and business rates.

The regional roadshows bring together Government Ministers, representatives from the banks, the regional development agencies and representatives from the Business Link advice service. 

Businesses were able to raise lending issues affecting their companies and were given information and advice on sources of additional lending and support from Andy Youngman from Lloyds TSB representing regional banks and Business Link West Midlands' Chief Executive, Alison White.  Around 60 delegates attended the event chaired by Richard Hutchins, Corporate Director for Economic Development at Advantage West Midlands.

Business Minister Shriti Vadera said: "Today's meeting brings banks and businesses together to improve understanding of the pressures on business, and the support banks are able to provide.

"I know that many local businesses are feeling the pressure, as cash flow has become tighter and access to credit has been squeezed.

"The Government understands the vital contribution businesses in the West Midlands make to the UK economy. That's why we have taken decisive action to get credit flowing again and why it's crucial that businesses understand what support is available to them from banks and the Government, and how they can access it."

Richard Hutchins said: "The aim of today's event was to carry on the conversation between businesses, banks and the government about availability of finance and the measures and initiatives in place to support businesses through this unprecedented downturn. 

"It's important that businesses, and for that matter individuals, know that there is support available."