London's Firms Make Business Advice Their Business

27th February 2009

The London Development Agency (LDA) today announced that KPMG and Deloitte will host a further two seminars in March and April to help London’s small and medium-sized businesses survive during the current economic climate.   

Since Christmas, both firms have held three seminars attended by nearly 200 businesses.    

Hundreds of small and medium business owners who attended the seminars are now armed to counteract the fallout of the economic downturn - part of the LDA’s drive to help keep London working.

Mayor of London Boris Johnson said: “I am delighted that so many London businesses are seeking the valuable advice that is on offer from these experienced organisations. 

" It is vital that businesses get the highest quality advice on how to get through the downturn and to be fit and strong enough to compete when the recovery comes.

“I am pleased to announce that programme will be extended to help more of the capital’s small and medium sized businesses in the coming months.” 

London Development Agency Chair Harvey McGrath said: “Small businesses are a vital part of London’s economy.  With the help of major companies like KPMG and Deloitte, they can get the latest information and best advice so that they can prosper in today’s difficult economic climate.”

Jeremy Sindall, CEO of web developer digitalML, was one. He said: “I decided to attend the seminar because I wanted to keep up to date on options for successful cash management in the current climate.”

"I found the seminar particularly useful and came away with some good ideas tax credits and the Enterprise Finance Guarantee Scheme."

A Waterloo-based artist described the seminars as well-managed and informative. Soheila Keyani, director of Project Love, which runs painting workshops, added: "I'd like to thank the LDA for organising these seminars and would definitely attend similar events in the future."

Steve Wardell, Partner in charge of London Middle Market at KPMG, added: “It is essential if London is to remain competitive, its lifeblood of SMEs is kept in business. The rapid way in which the credit crunch spread from London’s financial sector to its middle market caught many companies off guard and they are looking for practical advice on how to protect their business.

“We’re helping businesses to focus on the key issues of cost saving, cash management and managing employment costs.” 

Tony Cohen, head of entrepreneurial business at Deloitte, said: “Whilst entrepreneurial businesses are very adaptable, there is no doubt that the pressure of the current economic environment is being felt in a number of areas. Entrepreneurship is here to stay and with the help of local organisations, entrepreneurs can obtain support in maintaining their businesses going forward.

“These seminars will enable us to share some very practical, easily understood, common sense ideas - that do not require investment - but will help entrepreneurs generate cash savings and ensure minimal cash leakage.” 

The LDA is providing over £170m for business support and skills training in London in this financial year.   

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