§ Ms MunnTo ask the Secretary of State for Trade and Industry what(a) advice and (b) financial support her Department gives to small businesses which are transferred to new owners. [92986]
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§ Nigel GriffithsPersonal Business Advisers based in the national network of Business Link Operators can provide advice and support for small businesses transferring to new owners, including help with management buy-outs. Small businesses should call 0845 600 9006 to be put in touch with their local operator, or visit www.businesslink.org to find out more.
The SBS website at: http://vvww.sbs.gov.u1c/content/ dti/bsuccession/index.htm sets out the main regulations that apply when a business changes hands, and how to comply with them.
In addition, the Business Debtline, a 3-year pilot, provides support and advice to primarily, but not exclusively, sole traders and micro businesses in financial difficulties. The free phone number 0800 197 6026 and a self-help pack containing comprehensive advice is also available.