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If you are looking to grow your staff numbers in the coming months it might be time for a financial overhaul before you commit to new staff and more costs.

Small firms say they are the key to tackling graduate and youth unemployment – the Federation of Small Business says small businesses can help stem unemployment and create jobs, including investing £3m of an existing £32m pot of money to help promote and extend graduate internships and create an extra 5,000 placements.

It also says small businesses can reintroduction of schemes to give those with entrepreneurial skills who have been made unemployed the chance to become self-employed and help create another 36,000 jobs.

John Wright, national chairman of the Federation of Small Businesses says: "Graduates and school leavers are entering the job market in turbulent times, yet these business men and women are crucial to the future of our economy. Seven in ten of all apprenticeships already happen in small businesses and around 20% would take on a graduate intern. Investing money in these areas will not only help small firms grow at a difficult time, but will ensure that the future workers and entrepreneurs are equipped with the skills they need.

"Self-employment must also be a real option for those that have lost their jobs. By reintroducing enterprise schemes, businesses could create an extra 36,000 jobs over the next year. Small firms truly are the backbone of our economy and are ready to do their bit to help stimulate the economy, get people back into work and get the country back into recovery."

If you are looking to hire graduates, or if you are looking to re-skill and become self-employed, you need to talk to a financial adviser about your change in circumstance. They will assess your mortgage situation, your loans, your debts and your assets – the only way to grow organically in a downturn is after careful contemplation with the help of a professional adviser.

SOURCE: FSB, 25/09/09

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