BUSINESSES feeling the effects of the credit crunch are looking for guidance when a Bank of England representative visits.

Swanley Chamber of Commerce represents around 20 per cent of the 400 businesses in the town, many of which are finding it difficult to make a profit at the moment.

Because of this, it has arranged for a Bank of England representative to visit on November 27 to tell business owners what to expect from the economy in the coming months.

Director of the Chamber of Commerce Frank McConnell said: “We are hoping to get guidance on how the bank sees the upcoming economic future, so that local businesses will be able to adapt their investment and development plans.”

Mr McConnell says the current recession has forced businesses to “slow down in their development as they are having to put their resources into surviving”.

He added: ”In the last six months my telephone has not rung once with somone looking for new office premises in the Swanley area.”

One business struggling from the recession is family-run Alanby Jewellers, which has been in London Road for 21 years.

Owner Alan Bulley says there has been a drop in sales since April and as a result he has had to make changes.

The 63-year-old said: "We have tried to keep the price of our jewellerey down as much as possible.

"We don't advertise our business anymore in local papers. We are now trying to absorb our money rather than spend it.”

Mr Bulley added that so far he has not had to sack any of the four members of staff, and he hopes to avoid doing so.

There are some businesses doing well despite the credit crunch, such as The Swanley Cobbler in London Road.

Owner Colin Spratt, 48, said: "Because of the credit crunch society is moving away from the throwaway mentality.

"Instead of going out and buying new shoes people are getting their old ones repaired."

For details on the Bank of England representative’s visit call Frank McConnell on 01322 615959 or go to swanleychamber.com