DIFFERENT parts of the economy are coming to terms with changing ways of doing business in the recession, experts have claimed.

Whether it is problems with finance in the construction sector or shifting payment patterns for food and drink businesses, companies are having to adapt.

As part of the Lancashire Telegraph We’re Backing Businesses campaign, in conjunction with Business Link Northwest, the aim is to give firms the support they need to come to terms with life in the recession.

Rob McGuinness, a Business Link Northwest growth companies broker for the construction sector in East Lancashire, said there were particular challenges being faced by firms.

He said: “The current state of the construction sector is mixed, depending on whether companies are working within the residential house building market, which is practically dormant or within the industrial, domestic or public sector market, which is holding up reasonably well.

“One of the issues affecting the sector as a whole is the lack of supply of quality tenders and the uncertainty that follows as projects are put on hold.

“Sales, marketing and finance are the biggest issues for construction companies in the current climate and these are the areas of support we are being asked to provide. A lot of companies are unaware that there is any support available at all.”

For Mick Hadfield, food and drink broker for East Lancashire, firms were having difficulty securing finance whilst the number of customers through the door was decreasing. He added: “Many companies are struggling as payment terms have changed. Whereas a company would have, in the past, paid a supplier within 30 days, some are now delaying payment until 60 or even 90 days after receipt of goods.

“Businesses can help themselves by regularly analysing their finances, looking at sales opportunities and develop new products for new or existing markets.”

To contact Business Link ring 0845 0066888 or visit the website at the address below.