Cooper Parry comment on the effects of the credit crunch 
Added : 15th April 2008
Nick Edwards' message is to act now
A recent survey suggests house prices will fall 5% in 2008 and by 9% in 2009. Another suggested house prices in Nottingham went down 3.4% in the last quarter.
Nick Edwards from business advisers, Cooper Parry, believes this could put a further squeeze on the small businessman. He said:
“So much business borrowing has been secured on people’s homes, if homes are worth less it follows that there may be pressure to repay. Struggling businesses have been able to borrow more on the back of rising prices. This appears to be a thing of the past.”
“The key to dealing with these sorts of problems is to act well in advance, not just before the wages or some key supplier is due to be paid. People should take advice if they think they need it, and not just hope the problem will go away.”
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