The Federation of Small Businesses (FSB) has set up a new financial freephone number to offer advice and guidance and answer any financial enquiries from SMEs.

The new service has been added to the FSB's current raft of benefits available to members, including its existing 24-hour legal helpline.

"During these difficult times it is important for business owners to have sound advice so they can make the right decisions for the good of their business," said Sandy Harris, chairman of Member Services for the FSB.

The freephone number is 08000 193 633