Business Finance Bulletin: Recent Episodes
Rob Warlow
The Business Finance Bulletin is a weekly podcast featuring small business news, tips, ideas and strategies on raising business finance. This podcast is hosted by Rob Warlow from Business Loan Services, the commercial finance experts.
Kicking off our latest Bulletin, a report from UHY Accountants finds that the UK is in a business start up boom. The figures from HMRC reveal that more businesses were started in 2020 compared to 2019 as people had the opportunity to start up the business of their dreams. Staying with start ups, we look at the announcement form the Start Up Loan Company that it has hit a new milestone in terms of money lent out and the number of new businesses supported. To close, a survey from TSB highlights how few people are either aware of what a credit score is or of their score. When it comes to borrowing money, we look at how important your credit score is.
To start this week’s Business Finance Bulletin podcast, research from Hitachi Capital Business Finance has revealed that businesses are now less fearful of contraction or collapse compared to last year. The swing in confidence is a signal that businesses are seeing growth prospects again. When businesses get back into a growth phase, that typically brings with it a need for additional working capital. This has been borne out in a survey from unsecured business finance provider Iwoca. We look at the findings which highlight an increase in demand for short term, unsecured finance. Wrapping up this Bulletin, we have our monthly review of the latest insolvency figures. We look at how the number of firms entering into some form of insolvency arrangement is on the increase.
Opening this Business Finance Bulletin, after being the key source of finance for 12 months the final figures are out for the Bounce Back Loans and CBILS schemes. The figures reveal the extent of finance taken on by businesses and now it is payback time. For start ups and smaller businesses getting on the ladder to build a credit score can be difficult, but a new service announced by Tide Bank will ease this problem. Tide’s Credit Builder is designed to help smaller businesses create a credit footprint thereby making future access to finance easier. To close, we review the latest figures from the Finance and Leasing Association which reveals a significant return to usage of asset finance facilities such as leasing and HP. This is a good sign of the continuing return of confidence among businesses.
Although the moratorium on Statutory Demands and Winding Up petitions was recently extended, the moratorium on Wrong Trading was not. Opening this latest Bulletin, I look at how the reintroduction of Wrongful Trading with effect from 1st July could impact company Directors. Late payment continues to be concern for small businesses, but I have good news with changes to the Prompt Payment Code now coming into effect. We look at the new commitment signatories to the Code made have in terms of paying small business invoices quicker than before. To wrap up this edition, a look at how with sales increasing for many businesses, now more than ever is the time to plan your cashflow requirements for the next few months.
Economic recovery can often bring another set of challenges to manage and being able to spot and tackle financial distress is important. Opening the latest Business Finance Bulletin podcast, we look at a new guide from R3 on identifying financial distress and the options available to deal with it. Having access to support and guidance from industry experts is always welcome. A number of credit experts have launched a support group to assist businesses with questions on how to manage credit-related problems. Could this resource help you avoid falling foul of late payment and bad debts? Managing cashflow is a key priority for any business. To wrap up this Bulletin, we review the forthcoming launch of Tide Bank’s Cashflow Insights app which is designed to help businesses better forecast and control their cash position.
Companies entering an insolvency arrangement is starting to increase. Opening this Business Finance Bulletin podcast, we review the latest insolvency figures and the government’s extension to the Statutory Demand and Winding Up Petition moratorium. Will this continue to keep insolvencies low? As part of the government’s strategy of ‘levelling up’, we have news of the launch of The UK Infrastructure Bank. Whilst it won’t directly lend to small business, will there eventually be a positive knock-on effect? To close, a review of the latest annual Small Business Equity Tracker report reveals that 2020 saw the largest amount of equity investment made in small and medium-sized businesses.
With the economy starting to get back on track, we open this Business Finance Bulletin with news from the Finance and Leasing Association of large increase in leasing and HP deals written in April. Although still well off the 2020 figures, encouragingly the gap is beginning to close as business investment activity increases. Business confidence also continues to grow with a survey from the British Chambers of Commerce and Funding Circle revealing business activity levels and sentiments for the future. The survey findings highlight how resilient businesses have been. To close, analysis from online accountants Mazuma uncovers how many businesses are concerned about their ability to pay back their Bounce Back Loan. What are your options if your cashflow is still tight?
When the Recovery Loan Scheme was launched in April, the number of accredited lenders on the panel was limited. With the panel lenders now expanding, in our latest Business Finance Bulletin podcast we review the new lenders focused on specific regions of the country and how they are broadening the Scheme’s reach. Business is tough enough as it is but identifying and dealing with fraud can be an unwarranted distraction. HSBC has announced the launch of an app designed to flag new scams and keep you up to date with trends in fraud and cyber crime. Could this app help you keep away from the fraudsters? To close this Bulletin, we review the latest figures from the Finance and Leasing Association which reveal that HP and Leasing deals are on the increase. Following the easing of restrictions, it seems that businesses are again beginning to re-invest.
According to the latest Lloyds Bank Business Barometer report, business owners are continuing to feel increasingly optimistic about their future prospects. With optimism and confidence levels reaching new highs we look at one key peril to watch out for. If you have a idea for a great new business and you need an incentive to get started then check out a business start up competition launched by Tik Tok, the video sharing platform. With a cash prize and an array of support and mentoring could this be the push you’re looking for? Bank charges are often a bone of contention. To close this Bulletin, we look at the announcement from TSB of an offer of up to two years free banking. One to look at if you wish to reduce the cost of running your day-to-day business banking.
Kick starting this week’s Business Finance Bulletin podcast, the Recovery Loan Scheme has had a quiet start since its launch but the number of lenders on the panel is now slowly increasing. We look at the latest additions and what continues to hold the Scheme back. The Start Up Loan Company is encouraging younger people to think about becoming entrepreneurs. This is off the back of an analysis of the 80,000 loans they have distributed which reveals a large portion have gone to new business owners in the 18 to 24 year old age range. How could the loan assist you? To close, a look at findings from the latest Lloyds Bank UK Recovery Tracker, which uncovers that the UK’s key sectors are back on the path to growth.
Are you soon facing your first Bounce Back Loan repayment? Many businesses have just paid their first repayment or soon will and are concerned with cashflow still tight. Opening our latest Bulletin, we look at repayment options under the Pay as You Grow Scheme designed to ease your cashflow burden. A government Bill has been proposed to close a loophole in the insolvency process where Directors can dissolve their company with the aim of walking away from their Bounce Back and CBILS loan liabilities. The Bill, if passed, could see Directors facing sanctions if found guilty of fraudulently dissolving businesses. To close, a new report highlights that after losing a share of the business lending market, High St banks are again becoming dominant lenders over the alternative lenders and Challenger banks. Is that a good thing?
Opening our latest podcast, we look at how a survey from Bibby Financial Services confirms that business owners continue to feel increasingly confident about the future. What’s driving their confidence and what’s the one thing which could hold them back? Tide, the mobile business account provider, has announce the forthcoming launch of Tide Invoice Assistant. We look at how the new service can save business owners time in handling their invoicing tasks. To wrap up, we review the latest figures from the Finance and Leasing Association which, for the first time in nearly a year, report an increase in Asset Finance deals written. Is this a sign that businesses are beginning to reinvest?
Opening our latest Business Finance Bulletin podcast, as businesses get back on the path growth, what are their top priorities and actions? We look at the findings from the recent Hitachi Capital Business Finance Business Barometer report. It’s not all good news for businesses though. We review the most recent Red Flag Alert report from Begbies Traynor which reveals a jump in the businesses which class themselves as in ‘significant financial distress. What actions can you take to keep on the right side of the track? To wrap up this edition, a report from Dun and Bradstreet highlights that a continuation in late practices could hinder the hoped-for business recovery and growth during the remainder of this year.
As the economy kicks back into action, it’s not only businesses which are feeling more confident. Opening this latest Bulletin, we look at a number of lenders who are offering increased support to small businesses with new funding pots and enhanced terms. Have you tried opening a business bank account during the last 12 months? If you have then no doubt it was a frustrating experience. The government seems to think so as well with the launch of a Treasury Select Committee investigation. What are they asking of the High Street banks? To close, in the latest Lloyds Bank Recovery Tracker further good news about an improvement in business recovery. One sector stands out in seeing the signs of an early bounce back.
We open our latest Business Finance Bulletin with the good news that business confidence levels are on the up. The latest Business Barometer report from Hitachi Capital Business Finance reveals that an increasing number of business owners are predicting improved months ahead. Cashflow can be tight for many businesses, but particularly for start ups. Just Cashflow, the short term finance lender, has announced that alongside their new Business Account, qualifying start ups can now access their Revolving Credit Facility. To wrap up this podcast, we review the latest company insolvency figures which highlight that businesses potentially in trouble continue to be protected by the various government support schemes.
On 6th April the Recovery Loan Scheme was launched. Replacing the Bounce Back Loan and CBILS the new scheme is designed to support businesses in need of growth funding. We look at how the scheme works and how it could benefit your business. As businesses focus on getting back on track no one can ignore the level of debt firms accessed in 2020. We review a report from UK Finance which lays bare the extent of debt businesses have taken on and how some owners are beginning to worry about their ability to start repaying. To close this Bulletin, news from Metro Bank on a new addition to their mobile banking app. The function will allow users who don’t wish to use an online accounting software package to create their own branded invoices.
According to the latest research from Barclays Bank, there has been a notable increase in the number of business scams. Opening the latest Business Finance Bulletin, we highlight five scams to watch out for. Alongside the extension of other support measures, we look at the government announcement extending the period of a range of measures designed to protect those businesses in precarious financial position. To close, a new report from Experian reveals that many people are not checking their credit files. We look at why this is important if you are thinking of applying for business finance.
We open this Business Finance Bulletin podcast with a review of the latest business insolvency figures. The most recent figures released by the Insolvency Service reveal that insolvencies are still declining. It is acknowledged that the figures will eventually increase so what can you do to protect yourself from customers not paying? The latest figures from the Finance and Leasing Association show that use of Asset Finance in January continue its downward trend. Will the new Super Deduction investment tax break encourage businesses to invest? Wrapping up, a look at a finding in the recent SME Finance Monitor report which highlights that some business owners have big plans and are still happy to take risks to achieve growth.
Opening the latest Business Finance Bulletin, we review a report from the British Business Bank looking at the business borrowing market in 2020. Not surprisingly the report reveals that businesses took on an unprecedented level of debt. With businesses going full out on CBILS and Bounce Back Loans the alternative finance sector, which was booming up until 2020, has taken a hit with falling demand. We look at news of one of the first casualties with Nat West’s announcement that ESME Loans is closing its doors. To close, the roll out of Open Banking takes a step forward with news that 9 of the main High Street banks are to join forces to spearhead a joined-up approach to deliver a consistent offering.
We devote the whole of this week’s Business Finance Bulletin podcast to the new Recovery Loan Scheme. In his Budget last week, the Chancellor announce that CBILS and the Bounce Back Loan Scheme would not be renewed but instead would be replaced by the Recovery Loan Scheme. We look at features of the new Scheme; the key differences between it and CBILS and the Bounce Back Loan; and the actions you should take now in terms of the 31st March deadline for the existing schemes and preparation for the Recovery Loan.
As the application deadline to apply for a Bounce Back or CBILS loan fast approaches, there is talk of a new government-backed loan being announced in this week’s Budget. Focusing more on recovery than survival we consider what the features of the loan could be. Smaller, local businesses have been badly hit over the last 12 months. We look at a pilot scheme launched by Barclays Bank in four UK towns. The Rebuilding Thriving Local Business programme designed to equip small business owners with the skills to restore their businesses. More information here https://www.barclays.co.uk/business-banking/sectors/entrepreneurs/back-to-business-programme/ To close, a review of the latest Lloyds Bank monthly Business Barometer survey which reveals that business is slowly edging up to highs not seen for nearly a year.
What is the business borrowing environment going to look like post Bounce Back Loans and CBILS? Opening the latest Business Finance Bulletin, we look at why obtaining finance will be challenging once the government loan support schemes finish. After two years in the making, seven of the major banks have launched the Business Banking Resolution Service. The service provides a path for small businesses who want an independent body to review complaints they have against their bank. Wrapping up this podcast, if you deferred your VAT payment due between March and June 2020, we look at HMRC’s announcement that it will be opening up applications to pay the amounts due over 11 months.
Kickstarting this latest Business Finance Bulletin podcast, we review the changes announced to the Bounce Back Loan scheme. The tweaks to the scheme will help those small businesses which are seeing a slower uptick in trading than hoped for. Those businesses trading in Europe are finding it a challenge to negotiate the new rules and regulation. Recognising this, the government will be launching the SME Brexit Support Fund, which will provide grants to businesses in need of support and advice. To wrap up this edition, research from EY ITEM Club has revealed the level of debt businesses took on in 2020 and how the amount is significantly higher than seen in previous years.
Opening the latest Business Finance Bulletin, good news in a survey from Hitachi Capital Business Finance, which reveals that despite continuing lockdowns, many businesses are still looking ahead to growth. But not all sectors are so confident. We look at findings from Purbeck Insurance Services which highlight that businesses which took on larger CBILs facilities have exposed Directors to an element of personal risk via Personal Guarantees. To close, not all businesses are keen to take on debt to keep cash flow positive or fund new projects and would prefer a grant. We look at a new free grant finder service launched by Nat West and Swoop which could help source the right grant.
The Insolvency Service has reported on the number of firms which entered some form of insolvency arrangement in 2020. Opening this Bulletin podcast, we look at why the numbers are lower than 2019 and how the tidy is beginning to turn. We look at the latest CBILS and Bounce Back Loan figures which reveal that demand for the support loans are still strong. The figures also show that topping up an existing Bounce Back Loan has proved popular. To wrap up this edition, we review a report from Small Business Britain and TSB focused on the actions small businesses have taken to become more resilient in 2021.
With 2021 being the year where managing cash flow will be more important than ever efforts to reduce instances of late payment are always welcome. We open our latest Bulletin podcast with changes announced by the Prompt Payment Code which will see its members reduce the number of days taken to pay invoices. If you are purchasing a commercial property which is subject to VAT then payment can put a strain on cash flow. We look at a new short-term loan launched by Just Cashflow which can assist in the up-front VAT payment. To close, we review new analysis from the British Business Bank which reveals the top three regions which have taken advantage of the CBILS and Bounce Back Loans.
This time of year, people tend to set new goals and actions and businesses are no different. We open this edition of the Business Finance Bulletin podcast by reviewing the latest Business Barometer report from Hitachi Capital Business Finance. The report highlights three key actions businesses plan to take in 2021. After nearly a year where the number of businesses entering some form of insolvency arrangement has been lower than in previous years, we look at figures from the Insolvency Service which reveal the first increase. Is pressure on businesses now beginning to become evident? To wrap up this podcast, a call from members of the Institute of Directors for the Small Business Commissioner to be allowed to issue penalties to businesses with late payment practices.
In the first Business Finance Bulletin podcast of 2021 we open by looking at the latest Business Finance Review from UK Finance which reveals the level of borrowing businesses have taken on in the first three quarters of 2020 and the challenges this will bring. In 2021 the adage that ‘cash flow is King’ will never be truer. A survey from the British Chambers of Commerce highlights the impact the economic contraction has had on business cash flow positions. To close, from the same survey, businesses are holding back on investment plans. Are these businesses putting themselves at a disadvantage when the economy picks back up?
This edition of the Business Finance Bulletin podcast is a Bounce Back and CBILS fest! We kick off with the news that following a raft of new restrictions the government has extended the application deadlines for all the loan support schemes. The swift roll-out of the Bounce Back Loan scheme has been criticised by the Treasury Select Committee stating that the balance between protecting taxpayer’s money and supporting business is wrong. We look at what their concerns are. To close, a review of the latest Bounce Back Loan and CBILS figures which show continued growth and demand from businesses in need of cash support.
Cash strapped businesses which are facing creditor pressure have been granted further breathing space by the Government. Opening our latest podcast, we look at the announcement that the suspension on serving Statutory Demands and Winding Up petitions has been extended. Could this lifeline create more zombie businesses? MarketFinance has launched its Business Booster Fund which is offering successful applicants a grant of £5,000 to support their growth plans. Could you do with a cash boost? To close the Bulletin, good news in a survey from Hitachi Capital Business Finance which reveals that more businesses are planning to get back to expanding in 2021.
Times of uncertainty can make businesses more susceptible to scams. Opening this latest Business Finance Bulletin podcast, we look at a report from Barclays which reveals a stark increase in the number of business scams. How can you avoid falling victim? As we edge closer to the end of 2020 business owners are facing a squeeze on cashflow. A survey from MarketFinance uncovers how close businesses are to running out of cash. Wrapping up this podcast, a question from a young entrepreneur on how he can improve his credit score and secure start up finance.
Starting this latest Business Finance Bulletin podcast, good news for Directors concerned about potential personal liability on decisions being taken with an announcement that the suspension on Wrongful Trading has been extended. How satisfied are you with the service your bank is providing and what factors would you take into consideration if you were to move banks? These are questions posed by the Current Account Switch Service in its latest survey. To close, with the CBILS and Bounce Back Loan application deadline extended, the Office for Budget Responsibility has revised the estimated losses the government could face on the two schemes. The amounts demonstrate the potential high cost of supporting businesses.
Opening our latest podcast, news from the Start Up Loan company that it has appointed its latest batch of 12 Ambassadors. These are businesses owners who have built a successful business after receiving a start up loan. We take our monthly look at the Bounce Back and CBILS loan sector. Whilst the figures show a continued increase in the number and volume of loans drawn, the rate of increase is starting to slow. To wrap up this edition, a review carried out by Capital on Tap reveals the UK’s entrepreneurial hotspots when it comes to new company formations since the first lockdown. Which sector has proved to be the most popular type of new business?
To open this latest Business Finance Bulletin podcast, we look at an announcement from Just Cashflow that it is about to launch its own Business Account. Just Cashflow clients will now be able to take advantage of this new service which offers all the features of a traditional bank account. Good news for small businesses looking for a bank designed around their needs with the news that a new bank has received approval to launch. We look at how Recognise Bank will support SMEs with a range of lending products, based on a relationship-led approach. To close, with businesses focusing on managing costs and cashflow, we have news from Iwoca that it is waiving charges on its IwocaPay facility up to 2nd December. Could IwocaPay help you better manage your cashflow in these turbulent times?
Opening this latest Business Finance Bulletin podcast, we look at a disclosure from the British Business Bank as to the number of fraudulent Bounce Back Loan applications lenders have intercepted, and the amount prevented from being lost to criminals. A report from the EY Item Club has revealed the staggering amount businesses have borrowed in 2020. The comparison to how much was borrowed in 2019 raises fears of a burgeoning debt bubble. To wrap up, despite levels of borrowing generally increasing, we review the latest figures from the Finance and Leasing Association which show that the number leasing and HP facilities is in decline, demonstrating a lack of business investment appetite.
Whilst it is always wise to review your costs and overheads, new research has revealed that businesses are cancelling insurance policies to save on the premiums. Opening this week’s Bulletin, we look at the top 3 policies businesses are cancelling and the risks they are taking. We review the latest Red Flag Alert report from Begbies Traynor, which highlights an increase in financial distress some businesses are now under. The jump in numbers between quarters is a reminder of how tough 2021 could be for some businesses. To close the Bulletin, a call from the All Party Parliamentary Group for Fair Business Banking for the government to support those businesses locked out of applying for a Bounce Back Loan because they don’t have a business bank account.
As the application deadline for the Bounce Back Loans and CBILS looms we open this podcast with a review of the latest figures on the number of loans and amounts borrowed. There are also signs that lenders are starting to close their doors early. A survey from Hitachi Capital Business Finance reveals that small business owner’s ambitions to grow, whilst not surprisingly lower than pre-COVID levels, has remained steady over the last two quarters. Is this sustainable? Wrapping up this episode, we share a story of how one business didn’t follow up on a potentially lucrative contract due the credit terms demanded by the other side. We look at how Invoice Finance could help preserve cashflow.
Opening the latest Business Finance Bulletin podcast, we look at a new offering from alternative finance provider Just Cashflow. With more traditional cashflow issues starting to re-appear, Just Cashflow has launched a VAT Loan facility to support businesses with payment of their VAT liabilities. Despite the perilous state of the UK economy, the latest figures on how many businesses have entered an insolvency arrangement is still low. We look at the three factors which are artificially holding the numbers back. To close, a survey from Aldermore Bank reveals that the events of this year have reminded businesses of the importance of holding a cash reserve. The survey finds that businesses are now looking at increasing the amount they save.
The latest review of business borrowing by UK Finance has revealed a staggering increase in the amount of debt firms took on in Quarter 2 of this year. The figures highlight the debt mountain businesses face repaying in 2021. Research from Nimbla, the trade credit insurance provider finds that many businesses are still owed money from pre-COVID sales. What are businesses expectations on invoice payment in the last quarter of this year and beyond? To close, we review a report from the National Audit Office estimates that the government could suffer a high proportion of losses on the Bounce Back Loan scheme.
Opening this latest Bulletin, we review the annual National Statistics Office report detailing how many businesses have claimed R&D Tax Credits and how much they have received. If you have changed or improved the way you do business are you taking advantage of this scheme? Tackling late payment is a problem that never seems to go way. The Small Business Commissioner office is proposing additions to its powers which will allow them to take tougher actions against late payers. To wrap up, we look at levels of business confidence and how the appetite to invest in new plant, machinery and equipment remains low.
This episode is devoted to developments within the CBILS and Bounce Back Loan government support schemes. Given the ongoing economic problems, we kick off with a look at the Chancellor’s announcement that the CBILS and Bounce Back Loan application deadlines have been extended. Is it time to re-look at your borrowing requirements? We look at the latest figures from HM Treasury on how much has been borrowed from the two main support schemes. The amount of money borrowed is a significant sum and signals a tough 2021 for many businesses when it comes to repaying these loans. To close this Bulletin, we consider some of the unintended consequences of the CBILS and Bounce Back Loan schemes in term of future availability of finance and capacity for businesses to borrow.
As we enter a recovery phase in the UK economy, businesses are now turning their thoughts to how their operation will look in the future. A survey from Hitachi Capital Business Finance reveals that many business owners have undertaken a critical review of key areas and taken steps to safeguard their future. One impact of recent events has been the effect the downturn has had on business owners looking to exit. Findings by Nucleus Commercial Finance undercover how plans to sell up have been put on hold. To close this Bulletin, we look at annual results released by the British Business Bank. This lender may not be familiar to many small businesses, but the chances are they have been indirectly supported by this government body.
Over the last six months businesses have taken on significant amounts of debt. Opening the latest Business Finance Bulletin, we look at survey findings from the British Chambers of Commerce and TSB which reveal how businesses have used their CBILS cash and, more importantly, how they will cope with this new debt. Latest figures from the Finance & Leasing Association show that the number of new Asset Finance deals taken in July continues to be well below activity this time last year. However, there is a glimmer of hope with signs that perhaps businesses are beginning to re-invest. Wrapping up this edition, with the CBILS application deadline fast approaching, there is no slowdown in lenders continuing to shout out that they are very much open for business.
To open the latest Business Finance Bulletin podcast, the recent announcement that CBILS lenders now have until the end of November to review and process applications does not mean an extension to the deadline for submission of applications. Are you ready to beat the closing date? With an element of business-as-usual beginning to be seen, we review a survey from Hitachi Capital Business Finance which reveals they three key priorities business owners are now focusing on. To wrap, news from Atradius, the trade credit insurance provider, on a prediction of a sharp increase in insolvencies over the next 12 months. What do you need to be aware of?
To start this Business Finance Bulletin podcast, we review a new report from the SME Finance Monitor team which looks at the economic impact of COVID in terms of current and future performance. The Insolvency Service has released the latest corporate insolvency figures for July. Whilst the number of firms entering some form of insolvency has increased compared to June, when benchmarked against July 2019, the numbers are down. We look at why that is. To wrap up, a positive message! A study undertaken by Allica Bank and the Centre of Economics and Business Research has revealed the six rules of business success. Which ones will you follow?
Opening this Business Finance Bulletin podcast, fears of another Credit Crunch are mounting with the Bank of England calling on banks to play their part in meeting funding needs as business start gearing back up. The latest figures from the Finance and Leasing Association reveal how demand for Asset Finance facilities has dramatically fallen over the last quarter. We look at the two factors which are driving this decline. To close, a review of which areas of the UK have taken the most CBILS and Bounce Back Loans, and the latest figures on how many loans have been accessed by businesses in need of finance.
Opening this week’s Bulletin podcast, we look at the amount banks are setting aside for expected loan losses. We are in the High Street banks’ half-year reporting season and they are setting aside significant provisions for expected loan defaults. How could this impact you when looking for finance? Although experiencing a fall in sales, the impact on small businesses is being offset by cost savings. We review a survey from Hitachi Capital Invoice Finance which reveal the top cost lines where savings are being made. To close, we look at surveys from Lloyds Bank and the Federation of Small Businesses, one which reports businesses are starting to feel more confident, and the other revealing that business owners are still cautious about the next three months.
On 22nd July HMRC’s status as a Preferential Creditor in insolvency situations was restored after nearly 20 years. Could this have an impact on the cost of obtaining business finance and the appetite of lenders to support businesses? As growth in the economy begins to kick back in, many businesses are a long way off in settling into a new routine. To take the pressure off, calls are being made for the government to extend the temporary moratorium on Wrongful Trading which is due to be lifted at the end of September. To close this Bulletin, we review the latest CBILS and Bounce Back Loan figures which continue to provide a financial lifeline to businesses.
Opening the latest Business Finance Bulletin podcast, we look at proposals presented by financial firms and professionals on how to easy the debt and cashflow burden facing business in 2021 when CBILS and Bounce Back Loan repayments start. As businesses open and consumers slowing start spending, we review the latest quarterly survey from Hitachi Capital Business Finance which reveals that business confidence is slowly beginning to return, especially among small businesses. To close, the announcement that the European Union has relaxed the Undertaking in Difficulty test means that businesses refused a CBILS loan due to an insolvent Balance Sheet can now re-apply. This is good news for businesses previously denied access to the CBILS programme.
To start this week’s podcast, we take a look at whether we are going to see another Credit Crunch in 2021? The signs are starting to emerge that we may and if so, what can you do now to avoid getting caught out? Getting the right support and advice can help you navigate these turbulent times. If you value advice as you plan your recovery, then there’s good news in the form of the launch of a free advice hub hosted by Enterprise Nation. We review the types of support you can access. To close, a review by the Chartered Institute of Credit Management has revealed the impact on those businesses offering payment holidays. How can you manage this?
Opening our latest podcast, we look at a milestone hit by the government guarantee loan support schemes - the Bounce Back Loans and CBILS. The number of loans disbursed have hit record highs and proved to be a lifeline for many businesses and another batch of lenders added to the panel further improve access to the various schemes. Studies are now exposing the extent of the impact of recent events on business performance and profitability but there is a glimmer of light. We look at surveys from Lloyds Bank, Xero and the Federation of Small Businesses which reveal the pressures businesses are under.
We open the latest Business Finance Bulletin podcast with a look at changes to insolvency law with the passing of the Corporate Insolvency and Governance Act. How will this help struggling businesses? As businesses get back into the swing of trading, what are the challenges facing them? A survey from MarketFinance reveals how businesses are faced with tackling long overdue invoices and the future impact on cashflow. To close this Bulletin, with Bounce Back Loans proving to be a lifeline for cash-strapped businesses, it appears that some Directors are misusing the funds, leaving them open to close scrutiny in the event of business failure.
Starting this week’s Business Finance Bulletin podcast, with businesses either back trading or gearing up to open the doors, we look at surveys from Aldermore Bank and UK Finance which reveal how businesses see the next 12 months in terms of borrowing and growth. The British Business Bank announces accreditation of more new lenders on the Bounce Back and CBILS loan schemes. Are we at the stage where there are enough on the panel of lenders? To close, we review the latest figures on the two loan schemes and consider why the number of unsuccessful CBILS applications remains stubbornly high.
Opening the latest Business Finance Bulletin podcast, we look at figures released by the Finance and Leasing Association which reveal how many requests the sector has had for payment forbearance. We also review the volume of Asset Finance business written in April, which not unexpectedly has seen a sharp drop. The British Business Bank continues to accredit new lenders offering Bounce Bank Loans, CBILS and the larger CBILS facility. The weekly running total of the amounts lent under all three schemes continues to increase and proving to be a lifeline for businesses. To wrap up this Bulletin, a survey from Nucleus Commercial Finance finds that some small business owners are injecting funds from personal savings to keep their business afloat.
In this week’s Business Finance Bulletin podcast, we open the episode by considering what type of economic recovery you should be planning for. Which scenario best fits your plans? The ability of businesses to confidently trade among themselves is key to re-building the economy. We look at a new scheme launched by the government to ensure the continuance of Trade Credit Insurance. To close, we take our regular look at the numbers behind the Bounce Back Loans and the Coronavirus Business Interruption Loan Scheme.
Kicking off the latest Business Finance Bulletin podcast, with businesses now in receipt of CBILS and Bounce Back Loans, what can you do with the cash? We look at one use you should think very carefully about before pushing the button. Naturally, business confidence has taken a hit over the last few months. I discuss how confidence levels are faring and review a survey from Aldermore Bank on the impact on business income since the lockdown. To close, our regular look at the CBILS and Bounce Back Loan statistics. How many businesses have taken advantage of this government support scheme?
When it comes to VAT, this is one area of business finance that can be a minefield to navigate. Making a mistake with your VAT can cost you in terms of time and money. In this Bulletin Xtra we talk to Liz Maher from VAT specialists, Centurion looking at the basics of VAT, mistakes businesses make and tips and tricks to keep on you track.
As companies start looking ahead to the resumption of business, in the latest Business Finance Bulletin Xtra, we’re talking to John Cullen and Bethan Evans of Menzies, the Accountancy and Business Advisory firm. With businesses now planning a return to work or gearing up for an increase in sales, we chat about what firms should be considering to future-proof their business; why managing cashflow will be important; and whether now is the time to completely review how you do business.
Kick starting the latest Business Finance Bulletin podcast we take our regular look at Bounce Back loans and CBILS progress. The Bounce Back loans have proved to be popular, but some concerns remain among businesses still struggling to access the Scheme. Aldermore Bank have surveyed businesses to understand the impact the lockdown has had on business sales. However, the survey reveals that businesses have taken bold and swift steps to safeguard their future. Closing the Bulletin, looking ahead to post-lockdown the government has pledged support to the Trade Credit Insurance sector. The support package will ensure firms can confidently continue offering credit terms.
In the latest Business Finance Bulletin Xtra, we’re delighted to be chatting with Tunde Kehinde and Ercin Eksin founders of the alternative lender, Lidya. Lidya is the leading platform for small & medium business finance that provides access to finance across frontier, fast growing and emerging markets. The team is spread across 3 continents and 5 countries which are USA, Portugal, Nigeria, Poland and Czech Republic. In this episode we find out from Tunde and Ercin how Lidya started, the finance products they offer small businesses in developing countries and how they are helping change the fortunes of the business owners they support.
Opening this week’s Bulletin, we take our regular look at how the Coronavirus Business Interruption Loan Scheme is performing and how the approval rate is on the rise. The Bounce Back Loan Scheme has been launched and we look at how some banks have been better than others in terms of their processes. Wrapping up the Bulletin, with firms now planning ahead what changes are they planning to make to the way they do business?
This week saw an addition to the Business Loan Services team. In the latest Business Finance Bulletin Xtra we chat with Shayne Yates to learn more about his background and plans to help his clients access much needed finance.
We open this podcast with an update on the CBILS performance. How are the accredited lenders doing in terms of getting money out to businesses in need of support? Will the launch of the Bounce Back Loans help those businesses which failed to access funding under CBILS? We look at surveys carried out by Lloyds Bank and Hitachi Capital Business Finance which, not surprisingly, reveal that business confidence has taken a severe knock over the last two months. To close, on a positive note The Pitch, the start up competition organiser, finds that some people are now turning their thoughts to starting a business.
Our guest in the latest episode of the Business Finance Bulletin Xtra podcast is Spencer Laymond from Curwens solicitors. As a Partner, Head of Commercial and specialising in business law, Spencer provides insights and tips on drafting legal contracts, the mistakes to avoid and remedies to pursue if contracts go wrong.
The government has launched the Bounce Back Loan to help smaller businesses access funding. Whilst many will be eligible, one element of the criteria is that a business can’t be classed as an ‘Undertaking in Difficulty’. I look at how this could result in some small businesses missing out.
Kicking off this Bulletin podcast, we look at the latest Coronavirus Business Interruption Loan Scheme update from UK Finance which, following a slow start, reveals that the number of loans distributed is now picking up. One gap in CBILS eligibility has been support for start ups and pre-revenue/pre-profit innovation-focused firms. We review the announcements of a variant of the support scheme for innovative firms and funding specifically for start ups. Closing the Bulletin, we step back and look at reports on the early economic impact of the Coronavirus. What steps are businesses taking to safeguard their future?
This edition of the Business Finance Bulletin Xtra our guest is David Lewis of Camrose Consulting Ltd We talk with David about the importance of producing Management Information, what goes into a good MI pack and how to use it to support your business growth plans and lender finance applications.
Opening this episode, we look at the announcement that Funding Circle has now joined the panel of accredited CBILS lenders. How will Funding Circle change the Scheme, and will it lead to a speeding up in distribution of funds? We also review how CBILS has performed so far in supporting businesses in need of finance. A look at the figures reveal that the impact has been minimal and how a quickening of the pace is now needed. To close the Bulletin, if you are thinking of applying for a loan under CBILS, what information will you need submit to the lender? Preparation is the key to ensure you don’t suffer from any unnecessary delays.
To open this week’s podcast, we look at the knock-on effect of changes to the Coronavirus Business Interruption Loan Scheme and general lender reaction to the crisis which has jointly led to a fall in the availability of finance. Evidence is now emerging of the impact the virus is having on businesses. We review a report from the British Chambers of Commerce which reveals reduced confidence and the limited level of cash reserves businesses have set aside to cover expenses. To close, news of a grant scheme established by The Princes Trust and Nat West to specifically help young entrepreneurs meet costs and invest in new equipment.
The government have listened to business concerns about the Coronavirus Business Interruption Loan Scheme and made some changes. How will this benefit businesses looking for funding?
Opening my latest Bulletin, I look at the recent government announcement on changes to The Insolvency Act. The move is designed to protect Directors from personal liability claims in respect of Wrongful Trading. Why has this change been made? One aspect of the Coronavirus Business Interruption Loan Scheme that is catching businesses by surprise is the need to establish viability of the business going forward. I look at how you do this when applying for the loan. During normal times planning ahead as to when to submit an application is important. However, in our current situation there is now only one perfect time to apply. The answer to that question is whether we are going to see another Credit Crunch?
We are a few days into the launch of the Coronavirus Business Interruption Loan Scheme. How is it doing? Assessing progress, it's very much work in progress.
The Coronavirus Business Interruption Loan Scheme has been formally launched. In this special Business Finance Bulletin https://youtu.be/GwCCct2pFyo I look at how it works and why it's still not going to be the solution many businesses are hoping for.
UK businesses have been given access to funding support via the Coronavirus Business Interruption Loan Scheme. However, there are a few misconceptions about it will work. In this podcast I explain how not all businesses will be able to benefit from it.
This Business Finance Bulletin podcast is devoted to one topic, being support offered to UK businesses struggling from the ongoing CV crisis. Businesses are starting to see the change in circumstances negatively impact on sales and cashflow. To open, we look at support measures the government and the Bank of England have announced to ensure a steady supply of finance. The actions will free up significant amounts of cash for banks to on-lend. Turning to the High Street banks, we review what the major banks are offering their customers by the way of support packages. Will all businesses be able to access funds though? Closing the Bulletin, we share tips on how you can help yourself by managing and being in control of your cashflow. Swift action could keep you on the right side of solvency.
UK businesses have been hit by a number of financial shocks this year which can have an impact on sales, profitability and cashflow. To open this podcast, we look at the level of support being offered by banks to ease the burden. To improve its position in the market we review changes Nat West has made to their business account to make it more competitive in an ever increasingly crowded market. To close this Bulletin, an announcement by small and micro business lender AskIf on its approval from the British Business Bank to offer loans under the Enterprise Finance Guarantee Scheme.
Start ups have traditionally found it challenging to raise finance. To open this week’s podcast, a look at how Just Cashflow will be using Augmented Intelligence to pre-select and directly approach start-ups worthy of financial support. The latest annual Small Business Finance Markets Report from the British Business Bank reveals how banks are getting left behind in terms of financing SMEs. Are the days of High Street being the first port of call numbered? Wrapping up this edition, a look at recommendations from the Money Advice Trust, which runs Business Debtline, on how the continuing problem of late payment needs to be addressed.
Opening this latest Bulletin, a review of the latest Small Business Index survey from the FSB which reveals that business finance is primarily being used to supplement cashflow as opposed to investment. Will this continue in 2020? Firms looking to export for the first time can find it challenging identifying opportunities and associated risks. To solve this problem, the trade credit insurer Euler Hermes has launched a free-to-use tool for budding exporters. To wrap up, news from the Asset Finance sector on how 2019 volumes outstripped traditional bank lending. What assets financed saw the most growth last year?
To open our latest podcast, we review a survey from Hitachi Capital Business Finance which reveals that businesses are now prioritising growth plans over cost cutting measure. SMEs are focusing on three main strategies to boost business in 2020. Mobile-only banking continues to provide an alternative to traditional High St bank accounts. Anna Money is one such bank which focuses solely on providing mobile banking for businesses. We take a look at the key features designed to support SMEs. To close this Bulletin, news of action taken by the Prompt Payment Code against a number of household names which have failed to meet payment guidelines. The steps are intended to send a message to larger businesses that late payment is unacceptable.
In this increasingly complex world falling foul of fraudsters is all too easy. Opening this week’s Business Finance Bulletin podcast, we look at how Just Cashflow clients can access free fraud identification software to lessen the chances of getting caught out. If you’re in need of funds to finance your growth plans have multiple assets you can borrow against, it can be time consuming liaising with different lenders. Ultimate Finance have announced the launch of its Structured Finance product which will allow you borrow against a variety of assets via one loan. Wrapping up this Bulletin, a look at a survey from Nat West which reveals how individuals are wasting money by paying for services they never use. Are small business owners just as guilty of this?
A positive start to this week’s Business Finance Bulletin podcast with news from Lloyds Bank in their monthly Business Barometer survey that business confidence is on the rise. What are business owner’s view on the impact of Brexit though? We look at the announcement from Barclays of the launch of a loan cashback scheme with support from the British Business Bank. The cashback is a nice bonus for businesses looking to expand via funding. To close, less positive news with a look at how many businesses entered some form of insolvency in 2019. The figures from the Insolvency Service do feature a glimmer of hope for 2020.
Insuring the whole of your debtor portfolio against non-payment can be expensive. Opening our latest podcast, we look at the announcement of a partnership between Barclays and single invoice insurer, Nimbla. Rolling out on a trial basis in selected regions, Barclays customers will benefit from cost-effective credit insurance. When reviewing finance requests from larger SMEs, banks will consider the risk and impact of supply chain failure. A survey from Aldermore reveals that many businesses have not reviewed the likelihood or consequences of supply chain failure. To close, proposals have been set out in the form of a draft Bill to the House of Lords to tackle late payment. What actions are being proposed? To back-up the need for action, a survey from Pay UK uncovers the impact late payment has on business owner’s mental health.
To start our latest podcast, an announcement from mobile-only bank Starling that it’s to start offering business loans to Limited Companies. Starling’s 100,000 business customers will also, for a monthly fee, be able to access its Business Toolkit service. It’s now two years since Open Banking was launched. We look at a survey from the FSB which reveals that only a small number of businesses are taking advantage of the benefits Open Banking can bring. Closing this week’s Bulletin, news from Nat West that it’s to link up with pre-paid MasterCard provider Soldo allowing their customers to directly access two of the bank’s key products. This is another example of the old guard joining forces with the newcomers.
Opening our first podcast Bulletin of 2020, we kick off with a look at how much time small business owners spend on finance-related administration tasks. A survey from Starling Bank reveals that too much time is devoted to non-income generating duties. How did small businesses performance in 2019 and what are their priorities for 2020? That’s a question posed by Nucleus Commercial Finance and the feedback on how small businesses saw last year’s performance is surprising. To close, Santander has announced the launch of its 2020 Women Business Leader programme. They are looking for growth-focused female entrepreneurs to link up with seasoned business mentors. Could that be you?
To open our final podcast of 2019, a fitting close to this season with a look at the possible return of certainly following the Election result. Will the parliamentary majority be enough to overturn the feeling of uncertainty which has dominated the last 12 months? Challenger banks are often at the leading edge when it comes to innovation and in terms of linking up with 3rd small business service providers that’s no exception. We look at announcements from Metro Bank and Starling Bank of partnerships available to their SME customers designed to improve efficiencies and access specialised services. To wrap up our last episode for 2019, some good news on late payment. We review a new survey from MarketFinance which reveals that 2019 saw an improvement in late payment practices, lessening the cashflow strain for many small businesses.
Kicking off our latest podcast we review a survey from Xero, the online accounting software provider, which reports that despite many small business owners feeling despondent about their circumstances, the 20 years will see a significant, positive change. With the High Street banks not known for delivering competitive foreign exchange services, we look at the announcement from cashflow finance provider Just Cashflow of the launch of its own foreign exchange offering. To close, news from Pay UK that one day in the first week of December saw them handle the highest daily volume of automated payments. Are we finally seeing the demise of the cheque?
Opening this week’s Bulletin, a surprising continuation in the rise in business confidence despite the looming general election and Brexit limbo. However, another survey reveals that the feeling of uncertainty still prevails, especially among younger businesses. With approximately £382b held on current accounts and low interest deposit accounts, findings from Aldermore Bank exposes how much businesses are losing out by not maximising deposit account returns. To wrap up this episode, a look at how small businesses are still limiting their borrowing appetite as revealed in the latest Bank of England bank lending figures.
The latest SME Confidence Tracker from Bibby Financial Services reveals a continual decline in investment appetite among small businesses. What are the barriers to investment and of those businesses which are investing, what are they planning? If you’re thinking of purchasing a commercial premises for investment purposes, one often over-looked requirement is the need for a compliant Energy Performance Certificate. We look at why failing to hit a minimum rating can scupper your chances of obtaining finance. To close this Bulletin, a survey from Pay UK puts a spotlight on the burden and cost to small business owners of the rising late payment problem.
To kick off our latest podcast, we look at a host of enhancements and 3rd party collaborations announced by Xero, the online accounting software provider. The partnerships are aimed at further streamlining the way small businesses manage their finances. A survey from the Federation of Small Businesses reveals the different experiences sole traders have in borrowing money compared to the wider small business community. Why would lenders treat sole traders differently? To wrap up this Bulletin, a review of current business confidence levels, which according to a recent survey from Lloyds Bank has bounced back in October. How long will that last?
Rising out of the ashes of the credit crunch the alternative finance providers moved in to fill the gap left by the banks. To open this Bulletin, we look at how the alternative lenders are evolving with Iwoca announcing a milestone in lending and Nucleus Commercial Finance improving its loan repayment term. Managing late payment can often be a burden for small business owners, which means action taken by the Prompt Payment Code to suspend members not adhering to its rules is good news. Which household names have been asked to leave the organisation? To wrap up this Bulletin, we look at why you need to be aware whether your industry sector is in or out of favour with your bank before applying for finance.
Opening this week’s Business Finance Bulletin podcast, news of the soft launch of the Business Banking Resolution Service. Designed to support businesses which are unable to complain about banking service to the Financial Ombudsmen Service, the BBRS are looking for businesses to support its pilot phase. Gathering the paperwork required by banks to review a borrowing request can be time consuming. We take a look at how Experian, the credit reference agency, has made it faster and simpler for small businesses to apply for finance by using its new Commercial Acumen service. To close, news from business finance provider MarketInvoice of the formation of a specialist team to provide finance facilities for Britain’s larger businesses. From invoice finance to business loans MarketInvoice aims to support larger, high-growth businesses in need of flexible finance.
We open this week’s Bulletin podcast with a look at analysis from KMPG which reveals a jump in company Administrations in the third quarter of this year. Reflecting pressures being felt in the economy the increase is not a good sign for the remainder of this year. Following a strong growth in 2019, the Asset Finance sector has succumbed to the lack of confidence in terms of business investment. We review the latest figures from the Finance and Leasing Association report which highlight stalled growth in terms of volumes of business being written. To close this podcast, with bank charges often a bone of contention, good news from TSB of an extension of its Free Banking offer for start ups and businesses switching their banking.
In these uncertain times there’s increasing evidence that many businesses are suffering from increased cashflow pressures. We open our latest Bulletin reviewing a new survey from Hitachi Capital Business Finance which reveals the impact poor cashflow is having on businesses. Staying with the theme of cashflow, MarketInvoice the online invoice discounting platform, finds that too many businesses are relying on out-dated ways of managing and tracking cashflow. The knock-on effect is that firms are losing out on new business. To wrap up this podcast, the current economic squeeze is prompting businesses to review costs with the aim of reducing overheads via securing more cost-effective deals. When was the last time you critically reviewed your cost base?
The first meeting of the recently formed Business Finance Council has released a 5-point SME Finance Charter. The Council was established to ensure a smooth flow of finance post-Brexit but will the promises to support small businesses be merely words? Flexible finance provider Just Cashflow has announced modifications to its product range. The changes will allow more small businesses access to finance, especially those who favour overdraft-type facilities but can’t get bank support. To close this Bulletin, we look at a partnership announced between mobile-only bank Starling and debt insurance provider Nimbla. The service link-up available to Starling Bank business customers is designed to lessen the impact of non-payment of debt.
Are we in a recession? That’s question on many business owners and commentator’s minds. Based on the findings from a host of recent surveys and our client’s feedback, it certainly feels like it for many sectors. What can you do to keep on track? One type of business model that continues to do well are Franchises. Following a visit to the National Franchise Exhibition we take a look at why banks favour lending to this type of business. To close this Bulletin, news from Hitachi Capital Business Finance of the launch of its Smart Funding finance solution. One unique feature of the finance package is its flexible repayment terms, ideal for businesses with seasonal cashflow.
Banking fraud continues to be on the rise. To open this podcast, we share findings from UK Finance on the level of frauds reported in the first half of 2019. From the perspective of businesses, we look at how you can avoid being the victim of Authorised Push Payment scams. With Brexit inching ever closer, how prepared are small businesses? We look at a survey from the FSB revealing the state of preparedness of businesses which say they would be negatively impacted by a no-deal Brexit. We also have news from Barclays on a number of Brexit roadshows they are hosting in October and November. Finally, a look at Starling Bank’s announcement that they are launching an online web portal for their business customers to complement their mobile banking app.
Opening our latest Business Finance Bulletin podcast, we take a look at the new report from the SME Finance Monitor team. Among the findings about small business owner’s attitudes to borrowing we look at how more businesses are turning to external finance. What’s driving this move? With the government continuing to ramp up its Brexit planning, a new finance initiative has been announced. The formation of the Business Finance Council will bring together key players in the finance sector to ensure continuity in supply of finance post-Brexit. To close, news from alternative finance provider ESME Loans that it has increased the maximum amount it can lend via its unsecured business loan product.
To open our latest podcast, with the new a Prime Minister prepared to enter into a No-Deal Brexit, what impact could this have on raising finance? We look at how some lenders are already starting to tighten their lending criteria. What can you do to prepare? A survey from Hitachi Capital reveals the mistakes business owners admit to making during their early years in business. Did you make these mistakes and what could you learn about managing your business today? To close, Starling Bank has announced a change to its business bank account product which will allow more businesses to access this mobile-only banking service.
To start our latest podcast, we look at how the British Business Bank continues to support small businesses in need of finance. Their 2019 Annual Report sets out how they are improving access to finance in all regions across the UK. With late payment being an ever-present feature of managing a small business, news from the Prompt Payment Code about membership suspension for a number of high-profile names due to them not adhering to the voluntary payment code. To close, we review a joint report from the Small Business Commissioner and Growth Street which considers how small business owners see Open Banking. The findings reveal a higher level of awareness and interest than perhaps expected.
Whilst you may have ambitions to grow your business there are often barriers put in your way. What are the barriers which businesses face? That’s a question asked by Hitachi Capital in their latest Business Barometer survey series. Do you experience any of these barriers? Becoming a more sustainable business is increasingly appearing on business radars. However, financing environmentally friendly projects can prevent change. We look at a new range of Green-focused finance packages launched by HSBC. To close this podcast, our monthly look at activity levels in the asset finance sector from the Finance & Leasing Association. As a gauge of how confident businesses are in terms of investment spend, how are businesses feeling?
As well as being a barrier to growth, late payment has other negative knock-on implications. To open this podcast we take a look at the findings of a survey carried out by Xero and PayPal which reveals that the victims of late payment find themselves unable to pay their own suppliers. One way of speeding up cashflow is to open an Invoice Discounting facility. To make it easier and to offer greater flexibility than traditional facilities, Nat West has launched its Rapid Cash service. Similar to an overdraft, Rapid Cash provides swift access to cash. When it comes to investment for growth the FSB has found that small businesses are reluctant to do so in the current climate. Yet businesses are still borrowing but for what purpose?
To open our latest podcast, we look at a survey from Cambridge and Counties Bank which reveals that unlike other sectors the Buy to Let industry remains confident about the future. Such is the feeling of optimism, the survey finds that many landlords are looking to expand their portfolios. In terms of lending products being using to fund their businesses, online Invoice Discounting platform MarketInvoice finds that firms are moving away from the old traditional forms of finance. What forms of finance are businesses now accessing? Occasionally, commercial property buyers can be surprised to learn that the property being purchase is subject to VAT. This can cause an unplanned hit to cashflow. We take a look at a new short-term VAT loan launched by Aldermore Bank to help ease the pain.
Start ups can find it challenging to raise finance but since 2012 the Start Up Loans Company has filled the gap. We open our latest Bulletin by looking at a new milestone they have reached in terms of loans disbursed to start up businesses. The government continues to ramp up its focus on tackling the late payment scourge. New measures have been announced by the Small Business Minister to curb the ability of larger businesses to misuse their power when it comes to money owed to small businesses. To close, a look at the annual Working Capital Index survey from Lloyds Bank which reveals that businesses are continuing to hold onto growing levels of excess working capital. We ask why this should be of concern.
To open our latest podcast a look at a new survey from Menzies LLP which sheds light on how small businesses feel about their larger counterparts. Whilst there may be disadvantages to being small, the survey reveals several positives when it comes to competition. We take our monthly look at activity levels in the Asset Finance sector which highlights how the volumes of business being transacted contrasts with that seen in the High Street banks. To close, news from FreeAgent, the cloud accounting software provider, that it has signed up to Open Banking. We look at how this will prove beneficial to the nine banks within the Open Banking regime.
In order to boost exports, we open our latest Bulletin by looking at a new range of advice and financial support being provided by UK Export Finance. The new support packages are particularly designed to encourage small businesses to become first-time exporters. The Financial Conduct Authority has issued revised regulations for the Peer to Peer market. Whilst focused on protecting private investors, could the measures impact the flow of funds available for lending to small businesses? Recently we have seen more lenders partnering up with other small business service providers to improve access to finance. The service providers may not be directly in the financial services sector, but the partnerships are a win-win for all parties. Who are the latest businesses to link up to expand availability of finance?
Many individuals and small businesses have fallen victim to Authorised Push Payment scams. APPs are they are commonly referred to is where people are tricked into sending money to scammer’s bank account. To open this week’s Bulletin, we look at a new voluntary code 8 banks have signed up to which promises to refund lost money to victims. Worry times for the crowdfunding sector with news that property purchase and development crowdfunder Lendy has fallen into Administration. We look at the numbers behind the collapse. To close, a review of a surprising survey from Lloyds Bank as part of their regular Business Barometer series, which reveals that business confidence has increased for the first time in many months. Is this merely a temporary blip?
The credit crunch in 2008 was the start of the rise of the so-called Challenger Banks. This month, one of those early entrants, Aldermore Bank, celebrates its 10th anniversary. To open our latest Bulletin, we take a look at Aldermore’s achievements over the last 10 years. When borrowing via a Limited Company, one downside is that lenders expect Directors to provide Personal Guarantees. Many can be reluctant to sign and in some cases it’s enough to put them off borrowing. However, that risk can be offset by taking out a Personal Guarantee Insurance policy. We take a look at how it works and where you can obtain such a Policy. To close this Bulletin, news from The Small Business Commissioner that it has named-and-shamed another high profile business for its late payment practices. Another success story for the Commissioners Office with £32,000 paid following its intervention.
To open our latest podcast a look at the announcement from the Banking Competition Remedies team of three new awards made smaller banks looking to challenge the SME banking status quo. What will the recipients do with their share of the £80 million awarded? In these Bulletins we often consider why it’s important to know your numbers, but what if you don’t know what questions to ask? A new guide released on the key questions to ask could help make the process easier and boost both your chances of obtaining finance and improving profits. To close, a look at how high growth tech companies could benefit from a fund backed by British Business Investments. The fund will finance growth plans and recognises that shareholders don’t like giving away too much of their company to investors.
Smaller property developers can find it a challenge when it comes to raising finance. To kickstart the latest Bulletin we look at the initial announcement from the British Business Bank on its ENABLE Build Guarantee which will focus on assisting smaller property developers access finance. Credit4 is a niche lender supporting small businesses in need of flexible finance solutions. To allow them to back their increasing number of clients, Credit4 has announced it has secured additional funding. Could they fund your growth plans? To close, our regular review of how the Asset Finance sector is performing. Once again, growth in volumes of HP and Leasing arrangements is beating expectations against the background of flat small business confidence levels.
With increasing focus being given to tackling late payment, we open our latest Bulletin with news of tough actions taken by the Prompt Payment Code organisation to ensure its members adhere to guidelines. A survey on how many business owners have a grip on their financial performance and key indicators reveals that many have a lot to learn. We look at why it is important to know your numbers especially when it comes to raising finance. To close the Bulletin, we review the latest company insolvency statistics released by the Insolvency Service for Quarter 1 2019. Perhaps not unexpectedly, the figures make gloomy reading.
Over the years this Bulletin has been going we have chartered the rise of the alternative lenders. We kick off by looking at how one of those lenders Iwoca, has started to beat some of the traditional High Street banks in the provision of short-term funding. A new survey undertaken by Santander has exposed the lack of investment appetite among small business owners. With economic uncertainty being top of mind for many small business owners, how do you respond? To close our latest Bulletin, positive news from NatWest with the announcement that it has doubled the size of its Growth Funding package. The fund is designed to support grown plans and assist businesses deal with the current feeling of uncertainty.
Innovative and high growth firms can find obtaining finance from High Street banks challenging. Ahead of exiting the EU, and to ensure smooth access to finance, the British Business Bank has announced a new fund to help high growth businesses. A new survey from Barclays Bank has revealed that consumers are searching out firms with eco credentials as part of their buying decision-making. To help businesses being more eco-friendly and take advantage of this change in behaviour, we look at a Green loan product launched by Barclays. To close this Bulletin, we review the latest quarterly SME Confidence Tracker from Bibby Financial Services. Perhaps not unexpectedly, the figures make gloomy reading but there is a spark of enthusiasm around expectations on sales growth.
It has taken a while since the formation of the Small Business Commissioner office for them to name and shame a late payment offender, but the Commissioner has finally called out a well-known name. With the Commissioner’s focus on tackling late payment, will naming and shaming have an impact on other offenders? Administrative tasks are not the favoured part of running a business. We look at the announcement from mobile-only bank Starling of its link up with cloud-based accounting package provider FreeAgent, which will reduce admin time and help with speedy production of Management Accounts. To wrap up, our monthly look at activity in the Asset Finance sector with a mixed bag of results reflecting the degree of uncertainty which many business owners are currently feeling.
Despite an increase in the level of uncertainty among small business owners, primarily caused by Brexit, there are some who are feeling more positive about the future. We open this Bulletin with findings from a survey of fast growth businesses which reveals the opportunities they feel Brexit will bring. The start of April 2019 heralds the introduction of Making Tax Digital. Whilst some businesses see it as a distraction and additional administrative costs, there are benefits to embracing this new way of engaging with HMRC. To close this Bulletin, a look at findings from Growth Street, a Peer to Peer lender, of how many entrepreneurs are still unaware of the sources of finance outside the main High Street banks.
After featuring the rise in occurrences of invoice fraud only two podcasts ago, we open our latest episode with findings from a new survey which demonstrates how this fraud is now grabbing headlines. The UK Finance survey reveals a high lack of awareness of this fraud and how it works. Could you spot whether your money is potentially at risk? As the uncertainty around Brexit continues, we look at news from Barclays Bank of the launch of its Brexit fund. Designed to provide financial stability, the fund is focused on supporting businesses in all stages of development. To round off this week’s podcast, a new commercial mortgage product has been released by peer-to-peer lender Assetz Capital. The mortgage has been crafted to address the need of commercial property owners and investors who need to move quickly to secure a deal.
The term Open Banking may still be a mystery to many people, but more lenders are beginning to adopt the technology and benefits it brings. We open our latest podcast with news that Boost Capital, the short term business finance provider, has embraced Open Banking to speed up the processing of finance applications. New research from Experian, the credit reference agency, reveals that a high proportion of people have never checked their personal credit score. We look at why it’s important to do so, especially prior to applying for business finance. To close, our regular look at activity in the asset finance sector. The latest figures from the Finance and Leasing Association show that in January, usage of asset finance bucked the trend in terms of appetite to invest
To start this week’s podcast, we look at findings from a Barclays Bank survey which reveals that more small businesses are falling victim to invoice scams. With this type of fraud on the rise, what can you do to protect yourself? In his Spring Statement, Chancellor Philip Hammond has listened to calls from small businesses to act in tackling late payment. The government has laid out the steps it plans to take in order to reduce the cashflow burden caused by larger firms delaying payment. To round off this week’s Bulletin, with banks closing increasing numbers of branches, it’s rare to hear of new ones being opened. Barclays, Lloyds and NatWest though have announced the pilot launch of shared Business Banking Hubs. Could this collaborative approach be the way forward?
We open our latest podcast with news of another tranche of money released as part of the RBS bailout package. Designed to improve competition in the small business banking market, eleven banks have the opportunity to incentivise small business owners to switch from RBS. Paypal may not immediately jump to mind as being an alternative lender but since 2014 their Working Capital loan product has been a life line for small businesses in need of finance. Available only to Paypal clients, we look at how loan usage has jumped over the last 12 months. Despite everything going on politically and economically, a new survey from Hitachi Capital reveals that many small businesses are planning growth. What are their top three growth priorities?
The Enterprise Finance Guarantee Scheme has been a successful programme to help businesses access finance when they have no security. To open our latest Bulletin, news that ethical lender Robert Owen Community Banking Fund has joined the list of lenders offering access to business finance via EFG. Following the government’s bailout of RBS in the aftermath of the credit crunch, the first recipients of an RBS-financed £775m fund has been announced. The fund is designed to promote and improve competition in the small business finance market. We look at the first three banks to benefit and their plans. With Brexit looming, we close with the announcement from UK Finance of a new initiative, ‘Let’s Talk Business’. The campaign is focused on encouraging businesses to engage early with their banks if they are likely to need finance.
To start our latest podcast, a call from the FSB for the Chancellor to take a tough stance on late payment. With the annual Spring Statement a few weeks away, the FSB is seeking three commitments from the government to tackle late payment. To support small businesses in need of finance, we have news from the British Business Bank that its subsidiary, British Business Investments, has made £20m available to alternative lender Thin Cats. Could you use a slice of that funding? No Bulletin would be the same without the mention of that ‘B’ word! To close, an announcement from Barclays that is it to hold a series of Brexit Workshops across the UK in March to help business owners plan ahead.
We open our latest podcast with a look at findings from the annual Small Business Finance Markets survey carried out by the British Business Bank. The report confirms recent reports that small businesses seem reluctant to borrow with all types of finance options seeing flat or slower growth. Good news for business owners from mobile-only bank Monzo with the launch of a business account later in the year. Find out how you could be one of 100 business who have a say in shaping the new account. Finding finance can be a time-consuming task. To help speed up the process the National Association of Commercial Finance Brokers has announced a service to assist businesses source a finance broker in their locality.
Many of our recent podcasts have featured doom and gloom sentiments from businesses. We open this week’s Bulletin though with findings from Independent Growth Finance that some businesses are actually feeling positive about their growth prospects. The so-called Challenger Banks which rose up after the Credit Crunch, are now maturing into solid providers of commercial finance. One such bank is Cambridge and Counties which has announced a new milestone in terms of its growth and reputation as a strong funding partner. To round off this podcast, a look at the launch of a new fund from Santander and private investment group Topland focused on funding property developers. Traditionally not the domain of the High Street banks, the fund aims to support developers with a competitive finance package.
When compared to the UK’s country peers, we are not as productivity as other economies. To open this week’s Bulletin, we have news of the launch of the Government’s Business Basics Fund. The fund is open to bids from businesses which have ideas to help close the UK productivity gap but need finance to develop them. The reputation of the High Street banks took a hit post Credit Crunch and to counter this, TSB has committed to a series of Lending Pledges. We take a look at the six pledges and how they are designed to reassure the bank’s business customers that they will be treated fairly. To close this Bulletin, continued evidence coming out of how business owners remain reluctant to borrow and conditions remain tough. The latest figures from UK Finance reveal a contraction in business borrowing and other indicators show that the general trading environment remains challenging.
Having a Credit Score at the right level is an important factor when seeking finance. To open this week’s Bulletin, we look at recent research from Experian, the credit reference agency, which reveals the area of the UK which has the highest average business Credit Score. Is it your region? From launching a pilot online lending platform in 2017, NatWest has announced the formal roll-out of ESME Loans to its customers. We take a look at the levels of business done during the pilot phase and its key features. To close, having avoided a mention of it in the previous Bulletin, we’re backed to a Brexit-focused story! Lloyds Bank, as part of a monthly Manufacturers survey, has found evidence that businesses may be starting to stockpile in advance of Brexit. What impact can this strategy have on cashflow though?
We open our latest Bulletin with the announcement from Lloyds as to how much lending it will be committing to UK in 2019. The funding pot will be available to all businesses but with an emphasis on those businesses looking to export for the first time. The Finance and Leasing Association has released up to date figures on the volume of business written by its members. The level of asset finance transactions is always a good indicator of how business owners are feeling, and the recent figures are a mix of good and bad news. To close, we look at the call from the FSB for a review of the Prompt Payment Code. This voluntary code is designed to curb late payment, but 12 months on from the Carillion collapse the FSB wants to see it strengthened.
To kickstart our first Bulletin podcast of 2019, a look at new research into the benefits of Open Banking. Following its launch 12 months ago, a survey reveals the level of awareness of what Open Banking has to offer and the benefits business owners say it brings. The Small Business Commissioner, in conjunction with Lloyds Bank, has taken a look at the impact reporting requirements for large businesses has had on their payment practices. Perhaps not surprisingly, there is clearly still work to do in order to minimise instances of late payment. With the Brexit date looming, we look at the latest government initiative to help businesses plan ahead for the proposed changes. The launch of an Exit EU website is designed to assist business owners identify how they will be affected and actions they can take.
When the alternative finance providers entered the market to satisfy small businesses demand for finance, it was personal investors who provide the cash. We are now seeing institutional investors taking serious interest in the sector with announcements of tie-ups from Funding Circle and Thin Cats. As well as holding back growth, late payment can have a costly impact on small businesses. BACS, the payment service provider, has taken a look at how late payment can affect small businesses, both in terms of cash and other knock-on effects. To close this podcast, news from short-term lender Iwoca, which has announced agreements with another two major High Banks to utilise the benefits of Open Banking. Another step forward in speeding up access to finance.
We start our latest Bulletin with good news for businesses located in Northern Ireland with the announcement of the launch of the Northern Ireland Growth Finance Fund. With three major contributors including the British Business Bank, the fund will support businesses in the region with growth ambitions. It’s 12 months since the Small Business Commissioner role was established. With the key focus being on containing late payment and acting as an arbiter between small and larger businesses, what progress has been made in its first year? Complaints from small businesses about banks are common place, but for many businesses, they have no formal complaint process outside of the bank’s own internal department. We look at news that a voluntary process has been agreed between key UK banks which will help larger SMEs to resolve complaints.
To open this edition, we look at the announcement from Funding Circle, the business peer-to-peer lender, that the British Business Bank is to provide £150m for on-lending to UK small businesses. This second tranche of from the bank is set to support approximately 2,000 businesses. The latest figures from UK Finance, the banking industry’s trade body, reveals that small business appetite to borrow is still on the wane. The fall in borrowing from the banks has tuned into businesses seemingly hoarding cash with a jump in amount of money held on deposit. To close, positive news in a recent report by the Cambridge Centre for Alternative Finance which points to a continued rise in lending provided by the alternative finance sector. But it’s not only the supply of debt on the rise; equity facilitated by specialist platforms has also seen an increase.
With the traditional year-end slowdown fast approaching, if you haven’t done so already, now is the time to start assessing the impact on your cashflow. How can you avoid hitting a cash crunch? The British Business Bank has announced support to another niche lender providing Asset Finance facilities to growing businesses. We look at how Compass Business Finance will benefit from being granted access to the Enterprise Finance Guarantee Scheme. To close, our monthly review of how the Asset Finance sector is performing in terms of finance provided to small businesses. The latest figures from the Finance and Leasing Association reveal a continuing reluctance among businesses to embark upon any significant investment spend.
With a drive to boost the number of businesses exporting, a survey from alternative finance provider Just Cashflow has revealed a lack of knowledge is holding businesses back from taking the export leap. To close the gap, we look at an announcement from Just Cashflow of an initiative to support businesses wishing to export. Administration tasks, such as invoicing and follow-up, can divert business owner’s attention. To ease the burden Barclays has launched an add-on to their Mobile Banking App which allows customers to create, track and reconcile invoices. Whilst High Street banks are busy closing branches, mobile-only bank Starling has revealed a collaboration with the Post Office, which will make Starling’s services more accessible.
A new report from the Federation of Small Businesses has highlighted concerns that growth is being held back by restricted access to finance. Is that the case or is there something else going on? We look at the announcement from Nat West of the launch of Mettle, its new mobile-only banking service. Operating as a standalone service, Mettle is in pilot phase and seeking small business owner to be part of the trial to assist in future development. To close this Bulletin, concerns from Business Debt Line, a charity which assists small business owners who have got into financial difficulty, that debt levels are on the rise. It’s calling for various support measures for smaller businesses to help them through difficult times.
With the 2018 Budget behind us we open this podcast by looking at finance-specific measures. The British Business Bank, the home to the government finance raising schemes, received several boosts from the Chancellor with the aim of securing business access to finance, particularly post-Brexit. Earlier in 2018 we looked at the launch of Open Banking and how it is going to revolutionise applying for and controlling finances. How useful Open Banking is going to be is highlighted by the announcement from Iwoca that it has agreed a link up with Lloyds which will speed up access to finance. To close the podcast, we review the latest quarterly statistics from the Insolvency Services. The Quarter 3 figures make gloomy reading with the number of businesses entering into an insolvency arrangement reported as on the rise.
As we get closer to the Brexit deadline, thoughts are turning to potential support businesses will need in a worse-case scenario. To open our latest podcast, we have news that RBS has set aside funds to provide financial support to businesses trading in Europe who may find themselves in a tight financial spot. As highlighted in recent Bulletins, the Asset Finance sector continues to grow in terms of facilities to allow businesses to acquire assets. To continue the flow of available funds, we look at the announcement from the British Business Bank that it has allocated funds to asset finance provider Henry Howard Finance for on-lending to small businesses. To close, our monthly review of bank lending to businesses. The latest figures from UK Finance reveal that bank lending continues to slip with limited demand for finance from businesses. Business owners seem to be adopting a ‘wait and see’ approach when it comes to making investment decisions.
Are we seeing a build-up to another credit crunch? That’s a concern the Bank of England has flagged up following an increase in the volume of what it perceives as high-risk loans. If that’s the case, what can you do to prepare? We look at the latest quarterly business review from Creditsafe, the credit reference agency, which has a mix of surprisingly positive news on sales growth and a less positive outlook on a potential growth in late payment. To close this podcast, good news from the Financial Conduct Authority with its announcement that from next year small business owners will be able to refer complaints about their bank to the Financial Ombudsman Service. Finally, small businesses have an option to pursue complaints which doesn’t involve going to Court.
Whilst larger housebuilding firms tend to have easier access to finance, smaller housebuilders have greater challenges in getting the finance they need to develop sites. To open this podcast, news of a guide released by UK Finance and the Federation of Master Builders designed to help SME housebuilders source finance. Where are businesses turning to when they apply for finance? We continue our look at findings from the latest SME Finance Monitor Report and reveal where businesses in need of finance are turning to. Despite strained relationships between banks and small businesses, the High Street banks remain the first port of call. As an alternative source of finance, the Asset Finance sector continues to be an important avenue of funding for growing businesses. The latest figures from the Finance and Leasing Association show a busy August in terms of volume of business written. How does it look over 12 months though?
A recurring theme in recent Bulletins has been emerging evidence of reluctance among small business to borrow and this trend is a highlight of the latest SME Finance Monitor Report. The report also reveals the top three issues which are of most concern to small businesses. Is access to finance still an issue? Late payment has been another constant problem we have regularly featured in our Bulletins. In an effort to curb late payment the Government has called for thoughts from businesses on how it can tackle this problem. Do you have an idea to contribute? To close this Bulletin, a look at a new £100m fund launched by the British Business Bank. With a large portion of angel investment focused on the South East, the Regional Angels Programme aims to improve access to early stage equity finance across the whole of the UK.
Of those businesses which borrow money, what do they typically spend it on? To open this podcast, we review findings from Liberis, the short term lender, when they posed this question to their clients. The feedback reveals a variety of uses for finance raised, however one reason given does flag up a potential area of concern in terms of business health. We are undoubtedly in uncertain terms and the latest Federation of Small Businesses survey confirms this by revealing a dip in business confidence levels. The FSB’s recent quarterly Small Business Index highlights the feelings of uncertainty and also identifies other areas which are of concern to UK small businesses. To close, thankfully some positive news! Crowdcube has announced that it has hit a milestone in terms of £1 million plus equity raises. The news shows that far from being suitable for small finance requirements, equity crowdfunding is meeting the needs of larger, more ambitious business owners.
Financial fraud can be complex but sometimes a fraud can be relatively simple. We open our latest podcast with findings from research undertaken by RSM into the rising frequency of mandate fraud. What is it and what can you do to avoid being taken in by this fraud? According to a new survey carried out by the British Business Bank, appetite among small businesses to grow is strong. We share how many are entrepreneurs are held back by a lack of awareness as to where to find appropriate finance. To close, news from HSBC of the launch of its 5th SME Fund, which sets aside cash specifically for UK small businesses. We look at how the latest Fund has a particular focus on supporting smaller businesses who want to increase exports.
In recent podcasts, we have shared news of various collaborations between finance providers. The latest is an announcement from Barclays Bank of a tie-up with online Invoice Discounting firm MarketInvoice. This is another example of Old World meets New World. The most recent statistics to Quarter 2 2018 on company insolvencies has been released by the Insolvency Service. Not surprisingly, but not of any less concern, is the news that insolvencies are on the rise. What impact will the latest increase in Interest Rates have on those businesses already struggling? To close this podcast, our monthly look at borrowing levels among small business. Once again, from the latest Bank of England and UK Finance figures, business owners still appear to be reluctant to borrow and instead are busy hoarding cash.
We often share news of how the British Business Bank has supported lenders by providing funding for on-lending to growing businesses. We open this Bulletin by taking a look at the British Business Bank’s contribution to improving access to finance as detailed in their latest Annual Report. New research carried about by the Lending Standards Board and Business Debtline has revealed that lenders need to provide more support to vulnerable business owners. We look at how these two bodies can assist businesses which find themselves in challenging situations. In recent Bulletins we have featured news that small businesses are feeling less than optimistic about their prospects. However, according to latest research from Nat West, mid-sized businesses are feeling more confident about the economy and their business performance over the next 12 months.
To open this podcast, we review findings from the latest SME Finance Monitor Report which reveals a continued fall in the number of businesses looking to borrow money. The spectre of Brexit and a general uneasiness about the economy appears to be haunting business owners. For those businesses which are looking to borrow then easily finding a finance source can be time consuming; that’s where collaboration between operators in the finance sector can help. We look at how Starling Bank and Growth Street is one example of businesses joining forces to improve access to finance. To close, Creditsafe the company credit rating agency, has issued its latest 3-monthly review which highlights a startling increase in both the number of corporate failures and bad debts. At least the report contains one bit of positive news to close this Bulletin!
At the beginning of 2018, Open Banking was launched. Designed to improve access to finance by streamlining the application process, Liberis, an alternative finance provider, has announced its first use of Open Banking technology to renew one of its client’s borrowing facilities. The banking revolution is now underway. Barclays Bank has announced two new initiatives to increase the level of support it provides to small businesses. Firstly, we look at the bank’s use of a £300m ENABLE Guarantee granted by the British Business Bank to boost Asset Finance usage. Barclays has also announced the doubling of its unsecured overdraft and business loan limits. To close this Bulletin, we review the latest Asset Finance statistics from the Finance and Leasing Association. The statistics to May reveal that following a slow start to 2018, Asset Finance volumes jumped in May with strong performance in purchase of commercial vehicles and plant and machinery.
We open our latest Bulletin podcast with findings from a new survey undertaken by the British Chamber of Commerce which reveals that businesses continue to shun debt. Other than taking on finance to support day-to-day cashflow, the report highlights how businesses are becoming apathetic towards debt, particularly for medium to long-term investment. The key reason for the unwillingness to seek new finance is a lack of confidence in the economy. This is borne out in the latest Lloyds Bank monthly Business Barometer report, which finds that business confidence levels plunged in May. What’s driving this? Finally, we close on a positive note! New research from the British Business Bank finds the more businesses are accessing growth finance by selling equity. The annual Small Business Equity Tracker report reveals that 2017 saw a jump in both deal numbers and average deal size. Could you access equity to fund your growth plans?
Buying a franchise is a way of minimising the risk when starting a business. However, funding the purchase can be a challenge. To open our latest Bulletin, we look at news that Hitachi Capital has acquired Franchise Finance Ltd which provides hands-on support to people looking to buy into a franchise. Continuing a trend emerging over the last few Bulletins, we review recent figures from UK Finance which reveal that borrowing levels among small businesses continue to fall. Are we seeing the early signs of forthcoming slowdown? Whilst we are seeing business borrowing levels decline, the opposite is happening to business savings. Businesses are hoarding more cash than this time last year. Although cash held in banks is on the increase, are businesses getting the best interest rates?
Accessing finance via Angel investors is one source of growth finance. Who are these investors and what do they look for when taking a stake in a business? To open this Bulletin, we look at the latest annual Angel investor review undertaken by the British Business Bank and the UK Business Angels Association. Since its inception in 2010 Funding Circle has supported thousands of small businesses via its business loan product. To understand the impact their support has had on the UK economy Funding Circle teamed up with Oxford Economics to carry out an in-depth study. The results show how access to finance can have a positive knock-on effect in the economy. Despite the benefits of sensible borrowing the latest report from the SME Finance Monitor team reveals that demand for finance remains weak. The report highlights how the number of businesses declaring they have no intention of borrowing money has reached a new high.
When searching for finance many business owners don’t know where to start looking. To help bridge the information gap the British Business Bank has launched a finance knowledge website. We open our podcast by looking at how the portal can help guide business owners to the right source of finance. Iwoca has been known as a short-term loan provider but they have now announced a new 5 year loan product designed to avoid medium term finance to growing businesses. Could you make use of cash injection? In recent Bulletins we have mentioned that the first few months of this year saw a decline in the use of Asset Finance. To close this episode, we review the latest statistics from the Finance and Leasing Association which reveal an increase in Asset Finance deals to purchase business machinery, equipment and vehicles.
A sign of the times perhaps, but TrustOnline, the place to check whether individuals or businesses have County Court Judgments registered, has reported a Quarter One increase in CCJs. We open the latest Bulletin by looking at the results and what the increases mean. Innovation continues apace among the mobile-only banking providers. We have news from Revolut that it has launched Revolut Connect, a hub to bring together a host of 3rd apps all designed to streamline bank and reduce your administration burden. To close, a look at the latest Business Confidence Monitor report from the Institute of Chartered Accountants, England and Wales. The report reveals the key challenges holding back businesses but also re-affirms that business owners continue to feel much more confident about their current situation.
Working capital is the life-blood of a growing business and yet having too much cash tied up can be detrimental. We open our latest Bulletin by reviewing the latest Working Capital Index survey from Lloyds Bank which reveals a disproportionate increase in working capital compared to sales over the past 12 months. Banks continue to launch funds focused on certain sectors and regions. The latest fund announced is the Northern Powerhouse Growth Fund from Barclays Bank, which, as the name suggests, is designed to support growing businesses in the North of England. How could the fund benefit you? We close by looking at the monthly Lloyds Bank Business Barometer. The findings from the May survey provide further evidence that business confidence levels continue to improve with the Lloyds Index now above the long-term average.
Change affects all industries and that doesn’t exclude banking. We open our latest podcast with a look at a new report from UK Finance and EY which highlights the rise in mobile banking and what the future holds. One of the aims of the British Business Bank is to support so called Challenger Banks with funding via the ENABLE Programme. The latest beneficiary is Cambridge and Counties Bank which will utilise the funding to expand its property and commercial lending portfolio. To close, we share news of a pot of funding set aside by Lloyds Bank specifically for businesses working directly, or indirectly supporting construction of the new Hinkley Point nuclear power plant. Funding to businesses in the supply chain could give them confidence to bid for contracts. Could you make use of this?
Following the credit crunch, a host of so called Challenger banks emerged to fill the gap left by the High Street banks. One such challenger is Cambridge and Counties Bank. We look at how the bank has supported growing businesses and the range of products and services it offers small business owners. Lloyds Bank has announced the creation of a £2 billion Clean Growth Finance fund. The fund is focused on businesses that wish to create a low carbon and sustainable future by investing in environmentally-friendly projects. To close, we share findings from the latest ICAEW Business Confidence Monitor which reveals that businesses continue to regain their fighting spirit with confidence levels reaching a two-year high.
How does late payment affect small business owners? That’s a question posed by The Prompt Payment Directory in its annual late payment survey. The report reveals that many small business owners personally suffer when payments are delayed. Findings from a new FSB study highlight that some small businesses still struggle when it comes to raising finance. What holds them back and are they deterred from applying for finance? To close this podcast, we share news of how PayPal has become a rising star on the alternative finance scene. Over the last 12 months the PayPal Working Capital facility has supported an increasing number of businesses with much needed cash. We look at how the facility works and the cost.
To open our latest podcast, news of how businesses involved in sustainable activities can now benefit from a tailored finance solution offered by Barclays Bank. The Green Trade Loan is aimed at supporting environmentally-focused businesses in need of working capital. Turning to more sobering news, we review first quarter figures released by The Insolvency Service on the number of businesses entering insolvency arrangements. Unfortunately, the statistics show an increase compared to the first quarter of 2017. To close this podcast, interesting findings from Xero, the online accounting software provider, and the FSB about late payment experience among its clients and members. If you undertake work with larger businesses or public sector, you are more likely to get hit by delayed payments.
A seeming reluctance among some small businesses to borrow money has extended to the equity finance world. We open our latest Bulletin with a review carried out by Beauhurst of equity finance transactions undertaken in the first quarter of 2018. The figures reveal a downturn in activity compared to the previous quarter. Creditsafe, the credit agency, has reported that according to its research, company bad debts and the number of registered CCJs jumped in the first three months of this year. It appears that the pressure of unpaid invoices is beginning to show. Cyber crime continues to grab the headlines, particularly with the forthcoming GDPR deadline. To ensure businesses are aware of the risks of being targeted by fraudsters, Barclays Bank has launched an awareness campaign with recommendations for businesses on how to keep safe.
To open our latest podcast, we share the great news that Funding Circle has invited BLS to join its Business Champion Programme. This is in recognition of the quality introductions we have made to them, adherence to their guidelines and our knowledge of the marketplace. So how will our inclusion to the Programme benefit our clients? More developments in the mobile banking industry with the announcement from CountingUp that it has now launched its Business Bank Account. We look at how the service differs from other mobile banking apps on the market. To close this edition, we review two surveys from Bibby Financial Services and the Institute of Directors which reveal that business confidence continues to recover from recent low points. However, businesses still see a number of challenges facing them when it comes to growth.
Following the announcement in the Chancellor’s Spring Statement that the government is looking at ways of tackling late payment, it has announced the launch of a consultation paper. The government is looking for input on its plans to address late payment amongst businesses awarded government contracts. Do you have any thoughts? Where it can’t assist, to continue signposting businesses to alternative lenders, Nat West has announced MarketInvoice as the ninth addition to its Capital Connections panel. Being an online invoice discounter, MarketInvoice adds a new service to Nat West’s expanding panel. Figures from UK Finance, the finance industry’s trade body, reveal that 2017 was a record year for businesses accessing Asset-Based lending. Looking closer at the figures, smaller businesses though really took advantage of this growing source of alternative finance. But is that the case in the first quarter of 2018?
Cyber-attacks and cyber security never seem far from the headlines these days. If you were hit, what would be the financial implication for your business and could you withstand the impact? That’s a question posed by Lloyds Bank in a recent survey. What can you do to protect yourself? The charge of the mobile-only banks continues. We look at the announcement from Starling Bank of the launch of its business account service. What features does the account have for businesses keen to switch to mobile-only banking? We finish this edition with news from Crowdcube, the equity raising crowdfunding platform, that over the next five years it’s aiming to double the number of deals originated outside of London and the South East.
To start our latest podcast, news from Revolut Bank, an internet and mobile-only bank which we have not featured before. Revolut has announced forthcoming enhancements to its service offering which will provide wider benefits to its 16,000 business customers. The British Business Bank, the government’s home for its finance programmes, has supported two more challenger lenders in their aim to broaden access to finance. Aldermore and 1pm will be using the finance schemes to widen the reach of their asset finance products. Business confidence appears to be strengthening. That’s the message coming out from two surveys undertaken by the FSB and Lloyds Bank. However, there are still a number of factors holding businesses back when it comes to pursuing growth.
Are small businesses increasingly reluctant to borrow? According to findings in the latest SME Finance Monitor Report that appears to be the case. What are the factors holding businesses back from approaching lenders? Following the Carillion liquidation, concerns continue to be expressed about how larger businesses deal with their smaller counterparts. Is there a failure in UK corporate governance, particularly when it comes to payment practices? That’s a question being posed in a consultation paper issued by the government. Do you have comments or ideas to share? Despite the apparent overall reluctance to borrow, we close our Bulletin by reviewing the latest figures from the Finance and Leasing Association. The statistics for business transacted to January 2018 reveal steady growth in the use of this form of finance.
According to the Registry Trust, 2017 saw a significant jump in the number of County Court Judgements registered. Is this a sign of toughening economic conditions or businesses being more aggressive when it comes to tackling overdue payments? Since its launch in January, Open Banking has been gathering support primarily amongst the smaller, so called Challenger Banks. The latest bank to embrace Open Banking is mobile-only Starling Bank. It has announced a tie-up with TrueLayer which will act as a link between Starling Bank customers and alternative finance providers. One of the more challenging aspects of starting a business is arranging finance. Where do you go? That’s a question posed by Hitachi Capital Business Finance when it spoke to start ups and younger businesses. We take a look at where business owners are getting their money from.
Following a recent spate of high-profile company administrations, we open this Bulletin discussing the Euler Hermes Global Insolvencies Index which has revealed how in 2018 the UK is set to witness the second largest global increase in insolvencies. When linked with the latest bank lending figures, it looks like 2018 is turning out to be a challenging year. Alternative lenders are continuing to announce the allocation of funds specifically focused on supporting small businesses. We look at funding pots set aside by Iwoca and Metro Bank designed to assist regional and national small businesses. Do you credit check customers you give credit terms to? To close this Bulletin, we have a reminder of why it’s important to check your customer’s creditworthiness before you extend credit terms.
What would you do if you were able to borrow money for your business? This is a question posed by Liberis, the short-term cashflow lender, when it spoke to 200 small businesses. As well as revealing how funds would be spent, the survey also discovered how many small businesses are still confused about where to look for finance. Businesses based in the Midlands are in for a cash boost with the announcement from Barclays of the creation of its £370m Midlands Growth Fund. If you are based in the Midlands, we look at how you could benefit. To close this Bulletin, we have news of Nat West’s revised Entrepreneur’s Accelerator Programme. Delivered in hubs situated in 12 major cities across the UK, the programme is designed to help start ups in need of support, advice and mentorship. Could the programme help you get your business off the ground?
To open the latest Business Finance Bulletin podcast, we review the recently released Small Business Finance Markets report. Issued annually by the British Business Bank the report shares the bank’s findings on small business owner’s attitudes and experiences when it comes to raising finance. The statistics reveal one startling fact about how businesses view the act of borrowing money for growth. 2018 is the year when Open Banking kicked off. Still in its infancy, the majority of people are unaware what it is and how it will dramatically affect the way we interact with banks. Two early adopters have announced a partnership to streamline personal borrowing applications. To close the Bulletin, we look at the negative impact late filing of Annual Accounts can have on a Company’s credit rating and your ability to raise finance.
Despite many reasons for small businesses to feel uncertain about prospects, we open this Bulletin with a review of the latest Business Barometer Report from Hitachi Capital which reveals that business confidence has remained steady over the last 12 months. One source of finance which continues to see growth is Asset Finance. Figures released by the Finance and Leasing Association shows strong growth in the use of Asset Finance in 2017 with certain types of asset purchases leading the way. To close the podcast, we share news that Marketinvoice, the online invoice discounter, has announced a tie-up with trade credit insurance provider Euler Hermes. The partnership will benefit those Marketinvoice clients who wish to protect themselves against non-payment of discounted invoices.
One of the more frustrating aspects of starting a business, or even switching banks, is the stressful experience of opening a bank account. The Competition and Markets Authority, as part of its 2016 Banking Review, tasked banks with making it simpler. To start the Bulletin, we look at the outcome of that request with the release from UK Finance of new guidance on required documentation. We share news from Triodos Bank, the Bristol-based sustainable and ethical bank, that it has launched its own crowdfunding platform. Projects which have an environmental and renewable focus will feature as available for support. To close the Bulletin, we look at the announcement from Nat West that ESME Loans, an alternative lender, has joined the bank’s Capital Connections panel. The panel is a list of approved lenders who may be able to help businesses in need of finance where the bank can’t support.
Here we are with the 200th episode of the Business Finance Bulletin – another milestone achieved in bringing you the latest small business finance news and tips. We start this episode by taking a look at the 2017 corporate insolvency figures released by the Insolvency Service. Whilst the whole year makes sombre reading in terms of an increase in the number of businesses entering insolvency proceedings, the last quarter of the year though does make better reading. One tool the government has in its toolbox to help tackle late payment is the Duty to Report requirement imposed on larger business in April 2017. We take a look at the payment practices of these firms as revealed in the first six monthly report. When it comes to business planning, many business owners shy away from preparing a Business Plan because they are unsure what to include. To close this Bulletin, we share a quick content guide focused on four key areas.
For many small businesses, banking and bookkeeping are their least favoured tasks. To open this Bulletin, we look at a new mobile-only bank, CountingUp, which has opened its virtual doors with a small business banking solution combining banking and bookkeeping in one app. The availability of unsecured business loans from alternative finance providers has been a major boost for growing businesses. One such provider was Ratesetter, until their surprise announcement that they are pulling out of the unsecured business loan market. Finally, to close this Bulletin, we look at the continued fallout from the Carillion collapse. Focus is now turning to the impact late payment is having on small businesses. In the Carillion case, questions are being asked as to what is the point of voluntary programmes, such as the Prompt Payment Code, when larger companies can easily ignore it? Is it finally time to get tough on late payment?
The UK business news headlines have been dominated the liquidation of construction giant, Carillion. As well as affecting its employees, small businesses in the Carillion supply chain will take a substantial finance hit. What can you do to protect yourself from the failure of one of your largest clients? As the deadline to pay your Self Assessment tax approaches, many self employed sole traders are faced with a potential payment problem following HMRC’s announcement that it will no longer accept credit cards. If you had planned to spread your tax payments by settling your bill by card, what are your options? Raising growth finance via selling equity continues to be a popular source of funding for start-ups and growing businesses. One such company to benefit is equity crowdfunding platform Crowdcube. To close this podcast, we look at the figures behind Crowdcube’s record-breaking 2017.
Some businesses when looking for finance can get overwhelmed by the choices and process of applying for funding. If you are an FSB member, then help is at hand with the launch of the FSB Funding Platform which is designed to help its members efficiently search for finance. Despite the prevailing uncertainty about consumer demand and the state of the economy, a report from R3, the business turnaround and insolvency specialists, reveals that the number of zombie businesses is in decline. What are zombie businesses and why are their numbers falling? Asset Finance as a way of funding the purchase of equipment has seen a boom over recent years. However, the latest statistics from the Finance and Leasing Association show that use of Asset Finance is leveling off. We look at why that is.
It’s very likely that you may not have heard of Open Banking. If you haven’t then the chances are that you will over the coming weeks and months. It’s rare that we devote a whole episode to one topic, but Open Banking has the capacity over time to revolutionise the way you and your business manage your finances. In this podcast we look at what Open Banking is; why it was introduced and what the future holds in how it will open up competition to make sure you get the very best finance deals.
Regular feedback we have from Business Loan Services clients is how difficult it can sometimes be to arrange an overdraft limit. Iwoca, the short-term loan provider, recently undertook a mystery shopping expedition to see how challenging it can be! In this Bulletin we see how they got on and share 3 tips if you’re looking for an overdraft. Staying with the subject of overdrafts, Lloyds Bank has announced a revision of its overdraft charging structure. We look at the changes and how it’s decision to simplify the cost of running an overdraft will make the charge more transparent and easier to understand. To close, we look at the latest asset finance statistics from the Finance and Leasing Association. The most recent figures show usage of asset finance increased in October, but year-on-year, the growth is less than stellar suggesting that business owners are holding back on investment.
Perhaps it’s no surprise that business confidence is swinging back and forth in reaction to global and local events. That’s the findings from the latest Lloyds Bank Business Barometer report which we review in our latest Bulletin. However, it’s not all doom and gloom with some glimmer of positivity reported! Managing financial tasks can be a headache for many businesses. This is why Starling Bank, the mobile-only banking channel, have teamed up with an invoice issuing, online solution provider Alfred, to streamline invoicing and bank reconciliation. Could it help you reduce time spent on administrative tasks? To close this podcast, we look at the 4th annual report from the Cambridge Centre for Alternative Finance which reveals a continued rise in the use of alternative finance. Who are the businesses tapping into this growing, almost mainstream, form of finance?
You would think that when it comes to selling a business, it would be the more mature ones putting up the ‘For Sale’ sign. Latest findings from Barclays Bank in their Entrepreneur’s Index report reveal that more younger businesses than ever before are being sold. As we approach the year-end many business owners will find themselves with time on their hands as the seasonal slowdown kicks in. In a new survey, Lloyds Bank asked business owners what they will do during this quiet period. Do they spend time planning or kick back and do nothing? To close the Bulletin, we look at the latest small business bank lending figures from UK Finance. The trend of a slowdown in an appetite to borrow and a build up in cash deposits still continues.
With one of the busiest online shopping periods looming it can be easy to get caught out by online fraudsters. What can you do to ensure you and your business doesn’t lose out financially and give confidence to people visiting your website? In previous Bulletins we have looked at the Enterprise Finance Guarantee Scheme. New research from London Economics has revealed how businesses accessing this loan scheme have grown more than those which haven’t. Could you use this Scheme if you want to grow your business but struggling to access finance? Whilst many business owners want to avoid getting in to more debt, there are some entrepreneurs who have ambitions to borrow significant sums. Who are these ambitious tycoons and how big are their borrowing plans?
Competition in the provision of banking services is set to hot up in 2018 with the announcement from Virgin Money that it is to start offering banking products to small businesses. What can we expect from a business that has a record of shaking up industries? Companies involved in developing innovative products or services often find it difficult to obtain finance. We take a look at a new £50 million loan fund offered by Innovate UK to support businesses in need of finance to get innovative products or services out in the market place. In previous Bulletins we have looked at how the growth in usage of Asset Finance facilities has outstripped supported provided by banks. However, the latest statistics from the Finance and Leasing Association reveal a surprising fall in the amount of new asset finance business written.
A scary start to our latest podcast with a look at zombie businesses! According to a recent survey from Begbies Traynor, zombie businesses are on the rise. What are they and how can you avoid doing business with them? Entrepreneurial age gaps often lead to different views in business and finance is no different. We look at findings from Worldpay which highlights the difference between younger and older generation entrepreneurs when it comes to sourcing and accessing alternative finance. If you’re setting up a niche business or running a high-growth enterprise, equity is one popular avenue of funding. But how do you find Angel Investors for example? We share news of a service launched by the UK Business Angels Association designed to help businesses and investors find each other.
Not unexpectedly, after 10 years the Bank of England has increased the cost of borrowing. In our latest podcast we look at how this increase will affect both business borrowers and savers. Marketinvoice, the online invoice discounter, has launched an unsecured business loan product bringing another option to those businesses in need of a short term loan. We review how it works and which businesses are eligible to apply. The Enterprise Finance Guarantee Scheme, a little known finance product offered by the High Street banks, has hit a new milestone. The scheme, overseen by the British Business Bank, can help those businesses with a viable proposition but lacking in security. Could it help you?
Preserving working capital is crucial to ensure you don’t run out of cash. If need to buy assets such as plant and machinery, then using an Asset Finance facility is one option. Recognising the importance of keeping cash within the business, we start our podcast with an announcement from Lloyds Bank of the launch of their new Asset Finance fund. With retail sales slowing down we look at how businesses are becoming increasingly cautious about borrowing money. The latest statistics from UK Finance reveal a contraction in borrowing but an increase in the amount of cash held in bank accounts. Have you ever been a victim of online fraud? A survey from Barclays discovers how many frauds are never reported to the banks or authorities. What can you do to prevent falling foul of online fraudsters and whom can you report it to?
In last week's Business Finance Bulletin podcast Episode 187 I featured a survey carried out by online Peer-to-Peer lender, Ratesetter. The survey looked at how many business owners had checked their credit score. The number was shockingly low considering how much emphasis lenders place on the strength of your score, especially for small businesses. Ratesetter also shared 7 tips on how to improve your credit score. Given the importance of a strong credit score and the fact that credit file problems are a common issue we see, I thought you may be interested in learning what those tips are.
One problem which can affect the outcome of your finance request is your credit score. In this Bulletin we look at findings from a recent survey carried out by Ratesetter Business Finance which reveals how many business owners have never checked their score. Don’t be one of them. Business optimism appears to be on the up again. That the finding from the latest Deloitte’s quarterly Chief Finance Officer’s survey. However, a good number are still less than rosy. What factors are driving down the level of optimism? Since the government’s Start Up Loan Co was launched in 2012 how exactly has it helped boost start ups? The British Business Bank has undertaken a review of its effectiveness and we look at how both starts ups and the overall economy have benefited from the support provided by the Start Up Loan Company.
Despite confidence levels amongst many small businesses being muted, we open our latest podcast with a look at news from Hitachi Capital Business Finance that SMEs are seeing opportunities coming out of Brexit. Also, the latest Lloyds Bank research reveals that confidence is up in terms of production output across the regions. So not all bad news. Dealing with late payment is bad enough but when late payment turns into no payment then that can be a bitter pill to swallow. That’s where trade credit insurance comes in and we have news of a new streamlined policy from Atradius designed for small businesses. To close we take a look at the latest statistics from the Finance and Leasing Association which reveal that the industry continues to see strong growth in leasing and HP when it comes to purchases of plant and machinery and business equipment.
After a long wait, the government has announced the appointment of the Small Business Commissioner. How will the new Commissioner, Paul Uppal, help small businesses, particularly when it comes to late payment? Starling Bank, the mobile-only bank account provider, has announced the forthcoming launch of its mobile account service for businesses. They are looking for small business owners who are prepared to take part in the initial trial and help shape its look. Could that be you? Carrying too much working capital can strangle growth. A new survey from Lloyds Bank has calculated how much cash businesses have tied up in surplus working capital. The amount, if released, could free businesses to fund their own growth plans.
We open our Bulletin with our concluding review of the latest SME Finance Monitor report. How many businesses are really getting a ‘yes’ from their bank? That’s one question the report answers and the reply may cause many businesses to re-think their approach. Have you heard the term FinTech? If not, you may be surprised to find out that you are one of the majority of businesses which are managing their finances via a FinTech-related application. We look at a recent survey from online Invoice Discounting provider MarketInvoice which reveals how business owners are benefiting from new technology. There are emerging concerns that an ongoing increase in the size of consumer debt could have a knock-on effect on banks. But if debt is getting out of control, how could it affect businesses?
Continuing our review of the findings from the latest SME Finance Monitor report, we look at what is holding small businesses back from borrowing. The survey revealed four reasons why businesses feel uncomfortable in taking on debt. Whilst many businesses think that lenders are reluctant to support businesses, one bank is actively looking to assist growing business. Arbuthnot Latham Bank has recently opened an office in the South West and we take a peek at how they can help businesses with their commercial finance requirements. Finally, we review the latest FSB Small Business Index survey which highlights that small businesses are feeling much less confident that they were a year ago. What is holding them back?
Is appetite amongst small businesses to borrow money on the wane? According to the latest SME Finance Monitor Report this is the case. We take a look at how more business owners are opting out of taking on debt in favour of pursuing a ‘slow growth or no growth’ strategy. On a more positive note, we share news from the Finance and Leasing Association that its members are reporting record volumes in financing plant and machinery, and business equipment. Asset Finance as a source of funding is continuing to win over small businesses. To close the podcast, we look at a new fund launched by the British Business Bank. The North West Business Growth has been designed to assist growing businesses in the North West in accessing loan finance.
Late payment is a continual challenge for small businesses and a recent survey carried out by Zurich lays the blame at the door of the larger businesses. We share the findings of this latest research and what you can do to combat suffering from late payers. With many people being uncertain about the current performance of the UK economy, one measure of confidence is the amount businesses are borrowing from the banks. I lift the lid on the latest Bank of England bank borrowing figures to see what businesses are up to. To close this Bulletin, we share some recent experiences which highlight why you need to keep a close eye on your credit file. Lenders place a lot of emphasis on a clean report so it pays to keep your file in order.
Following on from the last episode looking at “How Do Banks Assess Your Finance Request?”, we now move on to Part 2. As outlined in Part 1, when applying for business finance, it’s useful to understand what lenders are looking for. In this second session, we continue our review of the CAMPARI framework which banks follow when reviewing a finance request. We will be sharing the last three elements which focus on the amount you want to borrow, how you’re going to pay it back and how you can reduce the risk the bank is taking.
When applying for business finance, it would be useful to understand what lenders are looking for. In this first of two podcasts, I will be sharing a framework which guides banks when assessing a finance request. Understanding the framework, referred to as CAMPARI, means you can be better prepared when presenting your request. In Part One I reveal the first four elements of CAMPARI.
A year after a Competition and Markets Authority report on transparency in the finance services market, lenders to small businesses are now required to quote an APR on lower value loans. Will it help boost competition? More evidence that businesses are beginning to feel the strain with the latest Red Flag Alert report from Begbies Traynor revealing a jump in businesses classified as being in ‘significant financial distress’. One sector that is doing well is Peer to Peer lending. The figures on volume of lending done by members of the Peer to Peer Finance Association in Quarter 2 2017 show that businesses are continuing to take advantage of finance from this source.
Early signs are coming through that some small business owners are beginning to experience a downturn. To start this Bulletin, we review the latest survey from Bibby Financial Services as part of its regular SME Confidence Tracker series which sets out a number of challenges business owners say they are facing. When it comes to raising finance how are businesses seeing the market place? This is the question posed by Hiscox Insurance when it spoke to 500 small business owners. The answers reveal that they are uncertain about where to look for finance outside of the main High Street banks. Have you heard the term, Keyman Insurance? We take a look at why it’s important to protect key people in your business, so protecting you from any unforeseen events.
The British Business Bank, which was established to improve small business access to finance, has issued its latest Annual Report. In our latest Bulletin, we take a look at the progress the Bank has made over the last 12 months. Alternative lenders are being increasingly quirky in how they tap into new markets to offer finance. We look at the news of a link-up between Funding Circle and takeaway app Just Eat which aims to boost takeaway owner’s access to finance. The Federation of Small Businesses has always championed ways of tackling late payment and so it comes as no surprise that it has launched a service to help small businesses get paid on overdue invoices.
With the government keen to boost exports, UK Export Finance has announced a new support initiative to help improve the flow of finance to exporters. To open the Bulletin, we look at how it will work and which other businesses will benefit. Access to finance remains a hot topic. We share findings and suggestions from a new report, ‘Banking Small Businesses’, which it’s hoped will be picked up by government and banks to boost small business funding opportunities. Whenever we feature the problems surrounding late payment, it’s rare that there is any good news. Whilst a recent survey undertaken by BACS, the payment service provider, has its fair share of gloomy statistics, there is at least one glimmer of hope in terms of reducing late payments.
The government is keen to be seen to be playing its part in tackling late payment and we start this Bulletin with an announcement that a large number of government’s key suppliers have signed up to the Prompt Payment Code. With banks increasingly reluctant to hand out overdrafts, how are businesses managing cashflow? It seems the gap is being filled by businesses increasingly turning to invoice discounting. We look at the latest figures which confirm the switch to this alternative source of finance. Lenders seem to want to see mountain of paperwork when they are reviewing your finance request. One request is sight of your Tax Returns but want exactly do they want? To close this episode, we go through the three pieces of information lenders want to see.
A popular source of finance to fund the purchase items such as plant and machinery is Asset Finance but businesses are often put off by its perceived complexity. In this podcast, we look at a new streamlined Hire Purchase application process launched by Hitachi Capital designed to make the task easier. We live in uncertain times and this is demonstrated by the mixed messages coming out on business confidence. We review two recent surveys which demonstrate that that some businesses are buoyant about where they are now and the future, but others less so. Savvy business owners know when to say ‘no’ to a new contract. That’s the finding from a recent survey which reveal three key reasons why a business would refuse to take on a piece of work. Are you confident enough to turn away work if it could potentially damage your finances?
Atom Bank is a relatively new, digital-only, challenger bank. In this edition of the Business Finance Bulletin podcast we look at a £30m investment made by the British Business Bank, which Atom will be using to support small businesses. The Queen’s Speech contained news that the government intends to introduce the Goods Mortgage Bill which will provide additional comfort to asset-based finance providers lending to sole traders and partnerships. The new Bill will help these trading entities better access services such as invoice discounting. To close, we have another example of how small businesses are bypassing the traditional High Street lenders to obtain finance. We look at an announcement from PayPal that its Working Capital loan product has hit a new milestone in terms of money lent and the number of PayPal business customers which have successfully accessed finance.
Despite recent surveys reporting that small business confidence was resiliently high, recent events have given business owners reason to take a step back. In this Business Finance Bulletin, we share three steps you can take to tackle business uncertainty. Of all the risks businesses face today, one which is common to all businesses and sectors are financial scams. To help protect you from fraudsters we look at the three most common scams and what you can do to ensure you keep your money safe. Outside of the traditional and non-traditional lenders, there is another source of finance being offered by firms you would not consider to be finance providers. One such firm is Amazon and we look at how Amazon Lending is focused on increasing the finance it’s providing to retailers selling on its ecommerce platform.
Whilst increasing sales is always a key focus for ambitious businesses, as we recently highlighted to a growth-hungry business, the danger of overtrading can cause chaos. What is overtrading and how can you avoid falling into the trap of running out of cash? Despite small business owners remaining confident about their prospects, one message coming out is that many small businesses are reluctant to borrow. We look at the latest findings from the SME Finance Monitor team which reveals that SMEs are cautious about taking on new debt. Managing administration and finance tasks is often a burden for time-poor business owners. NatWest have recognised this and we look at the announcement of the launch of a pilot app designed to improve the way businesses can monitor and track use of their commercial credit card.
Despite the introduction of the Bank Referral Scheme, Nat West continues to develop its own panel of alternative finance partner via Capital Connections. In this Bulletin we look at the latest addition to the panel, equity crowdfunding platform, Seedrs. As well as causing business finance distress, late payment can also cause personal stress for business owners. The extent of the problem is revealed in a recent survey carried out by The Prompt Payment Directory and we review the key findings. When would your bank say ‘no’ to a new loan when your business is profitable and your bank account operates with no problems. We close the Bulletin by sharing one reason why this would happen.
To start this latest Business Finance Bulletin podcast, we’re delighted to introduce Sue Lewis as the latest addition to the Business Loan Services team. With 25+ years in the finance sector Sue is a great asset to BLS. Managing finances and cashflow is highly ranked as one of the stressful aspects of running a business. What can you do the relieve yourself of the burden? We share one tip from a recent seminar BLS’s Rob Warlow hosted for Sterling Networks in Worcester. Collaboration between businesses which have the same target market, being small businesses, continues to prove popular. We have news of a tie-up between SagePay and Liberis, the short-term loan provider, which help SagePay clients have quicker access to finance.
We kick off this Business Finance Bulletin podcast by taking a look at the latest figures from the Finance and Leasing Association which reveal that Asset Finance continues to be a popular way of purchasing assets such as equipment and vehicles. Nat West and RBS have announced more changes to its application process in order to speed up business finance requests. The revised process focuses on improving application turnaround times from months to weeks for commercial and residential property developers. Raising funds via selling shares in your business is one way of funding growth. To close review equity crowdfunding platform performance in the first quarter of 2017. Which platforms are leading the pack in terms of the number and volume of equity deals?
Small businesses are continuing to shrug off any feelings of negativity. These are the findings of a new survey undertaken by the ICAEW and in this Business Finance Bulletin podcast we look at the one thing emerging as a key challenge for businesses. Although Brexit is some way off, businesses and organisations are considering what the economy will look like post-exit. We review a new report from the FSB which focuses on availability of finance and highlights a significant small business funding gap from 2021 onwards. Despite high confidence levels, corporate insolvencies are on the rise. We take a look at the Quarter 1 statistics from the Insolvency Service and consider what’s behind the increase
The one problem that comes along with growth is finding the right balance between having too much or too little cash tied up in working capital. In this Business Finance Bulletin podcast, we look at a survey which reveals how much surplus working capital businesses are carrying. The Bank Referral Scheme, which was launched late last year to help SME improve their access to finance, appears to have stumbled. We look at news that the government has instigated a review into why banks are not referring on enough clients who don’t meet their criteria. To close the Bulletin we share findings that UK business confidence is at a 4-year high with SMEs appearing to shrug off any doubts about a lacklustre year ahead.
Have you ever thought what would happen to your business if something befell you or a key employee? In this edition of the Business Finance Bulletin podcast we look at this question posed by Aldermore Bank in a recent survey. Are you at risk and if so how can you mitigate the impact? The rise of the alternative lenders as a credible source of finance continues. We review the latest figures from the Peer to Peer Finance Association which reveal new highs in terms of money being lent out by Association members. How does a 3 minute loan sound? If you’re a Nat West small business customer looking for a loan of less than £35,000 then we have news of how you may be able to take advantage of their soon-to-be-launched online application platform.
In the latest Business Finance Bulletin podcast, we kick off with… the election. Sorry! We look at how this distraction could affect small businesses, access to finance and spending habits. On the back of findings by Hitachi Capital and the FSB, more attention is now being given to the impact rising costs is having on small businesses. If you are faced with increasing costs, what you can do to preserve your bottom line? During periods of growth one thing small businesses want is quick access to finance. To close this Bulletin, we look at what short term finance provider Yes Growth can do to support growing businesses in need of additional working capital.
In this edition of the Business Finance Bulletin podcast, we start off by looking at an announcement from Clydesdale & Yorkshire Bank of funds set aside to support growing businesses during 2017 and 2019. The latest monthly survey from the SME Finance Monitor team reveals small business owner’s growth plans and how exporters are more ambitious. There is also more evidence that businesses are reigning in their desire to borrow money to fund growth. Funding Circle, one of the leading lights in the peer-to-peer lending market, has stated that it is winding down their property development finance offering so it can devote resources to its core business loan product.
Tackling late payment to help small businesses with mounting cashflow problems has been a focus for the government. In this latest Business Finance Bulletin, we look at new regulations now in force designed to keep pressure on larger businesses to pay on time. With Brexit underway, a survey from Ratesetter Business Finance reveals that small businesses appear to be resilient and confident when it comes to growth and investment plans. We also look at research from Barclays Bank on how small businesses are reacting to rising costs. Finally, we share news from the recent formed Association of Alternative Business Finance on three new additions to its membership to bolster its aim of improving transparency and standards in the industry.
With the Brexit negotiations now officially under way, what happens now for small businesses? In this week’s Business Finance Bulletin podcast, with a degree of uncertainty ahead we look at how businesses and banks will face the future. One industry which has seen change over the last few years is that of TV production. The Media team at Barclays Bank has announced a new fund designed to alleviate cashflow problems facing production companies with the advent of Streaming Video on Demand. Finally, we take our monthly look at the latest bank small business lending figures released by the Bank of England. Whilst the most recent figures to February show an increase, overall the trend is in the opposite direction. Why is that?
In this edition of the Business Finance Bulletin podcast we look at how the accounting software provider Xero is making access to finance easier by integrating with MarketInvoice, DueCourse and Iwoca. Another step forward for businesses in need of quick access to cash. Brexit has opened business owner’s minds to the opportunities created via exporting. A new survey by the Federation of Small Businesses has revealed the top 3 export priorities but if you’re new to exporting, where do you go for advice and support. We look at three sources you can tap into. The deal of a lifetime can present itself but often the opportunity is missed because you can’t arrange finance quick enough. To avoid that happening we have three actions you can take to ensure you are finance-ready.
The latest SME Finance Monitor Report reveals an interesting insight into small business owner’s current thoughts about borrowing money. In this episode of the Business Finance Bulletin podcast we take a look at feedback from small business owners on their appetite to borrow and funding growth. Deciding to sit back and self-fund your growth plans, whether intentionally, or because you can’t find finance, comes at a cost. This is the finding from a survey carried out by Aldermore Bank which reveals that business opportunities are being lost because small businesses can’t access the right finance. Looking for a fast, short term business loan? How about one in 12 minutes? We look at a new lending service launched by Ultimate Finance, the Cash Advance, which promises quick access to short term business finance with minimal fuss.
In this episode of the Business Finance Bulletin we start off by looking at how findings from a new survey reveal that business owners can be put off borrowing by complicated financial terminology. Are you confused by the jargon lenders use? It seems some business owners are running for the hills when it comes to planned investments over the next six months. A rapid fall in estimated investment levels indicates that small business owners are being cautious ahead of Brexit. There are many reasons why your bank can say ‘no’ but when it comes to County Court Judgments, or CCJs as they are commonly referred to, it is difficult to argue your corner. Find out how one business owner unwittingly fell into this trap.
We kick-off this week’s Bulletin by sharing a story from a client meeting this week where the business assumed that there would be no funding for them. We look at how many businesses make this mistake and so inadvertently deny themselves the opportunity to grow. We have news on how TaxAssist Accountants have formed an alliance with Ratesetter, the peer-to-peer lender, to offer clients immediate access to a quick source of working capital and growth finance. To close the Bulletin, we take our monthly look at how banks are supporting SMEs in terms of loans outstanding. The latest figures from the Bank of England indicate early signs of a shift in attitude amongst small businesses towards borrowing.
Whilst small businesses can sometimes beat the bigger players in the market, occasionally we can learn a trick or two from them. In this edition of the Business Finance Bulletin, we take a look at strategies being employed by Chief Financial Officers to boost their company’s performance. What tips can you take action on? How do small business owners view the finance market and their growth prospects? That’s a question posed in the latest Business Finance Survey carried out by the British Business Bank. Not surprisingly, the survey reveals positive news… and less positive expectations when looking ahead. To close the Bulletin, we share news on a new milestone reached by peer-to-peer lender, Funding Circle, in terms of the amount it has lent to small businesses.
If you have plans to grow your business, don’t underestimate the vital role cashflow has to play. Fresh from delivering a workshop on financing growth for business growth specialist Gavin Preston, BLS’s Rob Warlow shares the importance of managing cashflow when you’re going for growth… an important lightbulb moment for those attending the session. The banks are starting to learn from the alternative finance players with news from RBS/Nat West that they are launching an online platform where new and existing customers can apply for loans up to £150,000. Marketinvoice, the online invoice discounting platform, has announced an enhancement to its service with Marketinvoice Pro which will allow frequent users more flexibility in accessing funds.
Getting finance for a start up business has always been tough but with the Start Up Loans Company, the pain has been eased. In this Bulletin, looking back on the loans they made in 2016, which UK start up hotspot cities have taken advantage of the loans available? Different methods of calculating interest rates can make comparing finance options a challenge. We take a look at a new online tool from short term lender Fleximize, which can help you compare finance offers on a like-for-like basis. The latest SME Confidence Tracker survey from Bibby Financial Services reveals the top three challenges facing UK manufacturers. The top slot is taken by concern about rising prices but other constraints are also weighing heavy on the minds of UK SMEs.
With alternative finance becoming an increasing source of finance we kick off this Bulletin podcast with news of the launch of The Association of Alternative Business Finance. Formed by seven players on the alternative business finance scene, the Association is focused on delivering higher standards in the industry. Time is moving closer to government action on late payment. To lessen the prevalence of late payment I take a look at the forthcoming Duty to Report regulations which places an obligation on large businesses to disclose details of their payment practices. Are there signs that business appetite to borrow money from banks is beginning to wane? We examine the latest bank lending figures released by the Bank of England.
We open the latest edition of the Business Finance Bulletin with a look at two surveys from the Federation of Small Businesses and Barclays Bank. The question asked of small businesses is how Brexit will impact those trading overseas and whether confidence has taken a knock. What are our SMEs thinking? We take our regular look at how the alternative finance sector is performing following the release of the last quarter 2016 statistics by the Peer to Peer Finance Association. Lending to both businesses and individuals continues to remain strong. Scale-ups appears to the latest ‘new thing’ with the news that the government has appointed a Scale-Up Champion. What is the government looking to achieve?
According to the Centre for Entrepreneurs new company formations are at an all-time high. In this episode of the Business Finance Bulletin we look at the numbers and where the entrepreneurial hotspots are. Metro Bank, one of the so-called challenger banks, has committed to helping more small businesses in 2017 with funds to support growth. How could they help you? Cashflow problems can hit a business at any time but quarter end and quiet seasonal periods can be particularly tough. We take a look at how short term loans can provide much needed cashflow relief.
In the latest Business Finance Bulletin we start by looking at news from Funding Circle of £40m from the British Business Bank to invest in business loans alongside private investors. In addition to this there’s news of £82 million raised to support Funding Circle’s growth plans. How hungry are small businesses to borrow money in 2017? That’s a question posed by Zurich in their latest SME Risk Index survey. Are businesses looking to borrow more or less than in 2016? To close, we take a look at separate findings from the Federation of Small Businesses and Smith and Williamson on how confident small business owners are entering 2017. It’s clear that many are choosing to ignore any gloomy economic messages.
We start this latest Business Finance Bulletin by reviewing the launch of a new mobile banking service from Barclays which will allow its small business clients to apply for finance and, if accepted, receive funds within one hour. We take our regular look at what the High Street banks are doing in terms of money lent out to business according to the latest statistics released by the Bank of England. Family and friends are a popular source of finance amongst business owners mainly because of the ease with which funds can be accessed. However, new research has revealed how failure to pay back can cause relationships to breakdown. But to save the day we have details of a new Peer to Peer lender who can step in to ease the tension.
In this Bulletin, we kick off with our monthly round-up of how lenders are supporting businesses in terms of accessing finance. We look at the latest figures from the Asset Based Finance Association which reveal record business being written by the asset finance sector and levels of support given by the traditional High Street banks. We review research from Aldermore Bank which shows that business confidence continues to define expectations with SMEs positively looking forward to 2017. How are they planning to expand? The government is finally beginning to share the rules and regulations they plan to implement in 2017 to curb the late payment epidemic. We look at the steps they will be taking with effect from 1st April 2017 and no doubt large businesses will be concerned about another set of bureaucratic rules to follow!
The recent Autumn Statement saw the Chancellor announcing two initiatives to assist growing businesses. In this Business Finance Bulletin, we look at support the Chancellor is giving to boost exports and of the additional funding granted to the British Business Bank for businesses in search of equity finance. New research carried out by Axa Business Insurance reveals that small businesses remain relatively buoyant in 2016 but as we discuss, 2017 looks less certain. We are seeing more finance schemes designed to get funding to businesses in certain geographical areas. In this Bulletin, we look at an announcement from Market Invoice of its tie up with the Leeds City Region Enterprise Partnership which will see up to £2 million available to Leeds-based business via invoice discounting.
Whilst bank lending to businesses is slowly on the up, in this Business Finance Bulletin we look at the latest statistics from the Finance and Leasing Association which reveal that the Asset Finance sector is on a roll. Carrying too much stock can tie up cashflow which can be better employed within the business. We look at research from the Asset Based Finance Association which highlights exactly how much cash SMEs have invested in unsold stock. Another drain on cashflow is of course late payment. A new report from the Federation of Small Businesses is calling for more action on tackling the late payment endemic.
As the Business Growth Fund celebrates its 5th birthday, in this episode of the Business Finance Bulletin, we look at the level of support it has been giving growing businesses in need of finance. Late payment affects many small businesses, but a new report from Ormsby Street sheds light on which is business is the worst late payer out of all the High Street retailers. If you supply this business, then you need to manage your cashflow very carefully. Staying with cashflow, we look why actively planning your cashflow requirements is important, especially with the year-end approaching.
In this Business Finance Bulletin podcast, we take a look at the annual ‘Where are They Now?’ report, which analyses the equity crowdfunding industry and how it has performed over the last 12 months. The report findings suggest reduced activity amongst market leaders providing this source of finance. Growing businesses can benefit from professional advice particularly when it comes to raising finance. A new report from Close Bros reveals that many small businesses feel they are being short-changed by their bank when it comes to crucial advice on funding. With the economy having taken a number of shocks, according to Hitachi Capital Invoice Finance, businesses are starting to question their investment plans over the next 12 months. We ask how will this affect you and what actions can you take?
After 18 months in the planning the government’s Bank Referral Scheme has been launched. In this episode of the Business Finance Bulletin podcast we look at how the scheme is designed to improve small business access to finance. Despite post-Brexit confidence remaining relatively high we take a look at the latest statistics from the Insolvency Service, which reveals an up-tick in the number of businesses going down the insolvency route. On a more positive note we close the Bulletin looking at news from the Bank of England that bank lending to small businesses continues to rise. We also share news from Crowdcube on how they are supporting a record number of businesses looking to raise finance by selling equity.
Access to finance can be a challenge at the best of times but research has shown that female entrepreneurs struggle more than their male counterparts when it comes to raising funds. In this episode of the Business Finance Bulletin we take a look at the launch of a new, female-only crowdfunding platform, which not only provides access to equity funding but also to an Angel Network, business support and mentoring. One long awaited element of The Small Business Enterprise and Employment Act is the appointment of a Small Business Commissioner. Part of the role will be to ensure the scourge of late payment is tackled but it appears that government is still not ready to roll out this much-needed resource. Having a clean Credit Report is often overlooked when it comes to raising finance and in this Bulletin, we share a recent lesson on why it’s important to know what your Credit Report contains.
In the latest episode of the Business Finance Bulletin we share news of the launch of Peer Funding, a new player in the Peer to Peer finance world. What do they have to offer growing businesses in need of finance? Regional loan funds are a growing source of finance for small businesses and those operating in Worcestershire will now benefit from a new loan fund. We look at how the fund is designed to help those local businesses which aren’t getting support from traditional lenders. Turning back to the alternative finance world we look at the latest statistics from the Peer to Peer Finance Association on how the sector performed in terms of money lent in the 3rd quarter of this year.
In this episode of the Business Finance Bulletin podcast we take a look at a report issued by the UK Peer to Peer Finance Association reviewing the benefits of using Peer to Peer finance and how an about-turn by a former City grandee has provided a thumbs up to the sector. Currently no Bulletin would be complete without a look at the ongoing impact of the forthcoming Brexit! We dip into two surveys carried out by Deloitte and the British Chamber of Commerce which examines how industry leaders and sectors view the current and future situation. We are often told by business owners that they wonder how they can use the Annual Accounts prepared by their accountants. Calculating and reviewing a series of financial ratios is one useful action and in the Bulletin we give you a heads-up of a new video in our occasional series on working with ratios. This video reveals how to focus on efficiency and hence drive up profits.
In the latest Business Finance Bulletin podcast, a look at a support package being granted by Santander to charities and community groups raising funds on Crowfunder. The match-funding deal will allow these organisations to further leverage the funds they raise. Funding Circle have announced an upward movement in the maximum they can lend to certain categories of businesses. We look at how this is a positive move for good quality businesses in search of finance. Turning to the traditional High Street lenders, we take our monthly look at how much banks are lending to small business owners with the release of the latest Bank of England figures. Is the figure up or down?
In this Business Finance Bulletin, we look at the mixed messages coming out about business confidence amongst small business owners with a survey from the FSB which features both bad news and good news. Much has been made of the Bank Referral Scheme which will see banks referring businesses they can’t assist on to a panel of government-approved funding platforms. We look at how the scheme is taking shape. When you take a commercial mortgage from your bank you may think that’s it. However, following a call for help from a business owner, we share one thing you should watch out for if you unwittingly change the basis on which your commercial mortgage was agreed.
We start off this week’s Bulletin with the question of how many people who had a dream to run their own business actually took the step and if they didn’t, what was stopping them. Turning to more established businesses we look at findings from a recent report, DNA of an Entrepreneur, on how business owners view their current and future prospects. The government has been keen to stimulate competition in the banking sector and three years ago a current account switching service was launched to make it easier for individuals and small businesses to move banks. Three years on, how has it performed? Supermarkets can sell most things we need but who would have thought they would enter the crowdfunding market? That’s what has happened with the launch of a crowdfunding platform by Tesco focused on helping food and drink manufacturers raise finance.
Kicking off this Business Finance Bulletin is a look at findings from the latest SME Finance Monitor Report which includes a focus on small business borrowing appetites. The report reveals that a large number have no interest in taking on finance. The British Business Bank has been supporting a number of alternative lenders with additional funds for them to on-lend to small businesses. We look at the funding passed onto an Asset Finance company based in the North West which is set to support growing businesses in need of asset finance solutions. Have you ever lost a cheque or forget to pay one into your bank account? According to a survey from Barclays it’s not an uncommon occurrence and you may be surprised as to how much money is lost this way!
To start off this Business Finance Bulletin we take a look at a new milestone achieved by the Start Up Loans Company in terms of the volume of loans disbursed. However, the question is being asked as to how much this government scheme has lost in the form of written-off loans and those that have fallen into default. According to latest figures from the Asset Based Finance Association this sector, which covers invoice discounting and asset finance, has also reached new heights with a record amount of business being written in the 12 months to June. What about business confidence post the Brexit vote? We take a look at how business owners are feeling about their prospects and what you should do now in case the mood changes.
We open this Business Finance Bulletin by taking a look at the latest Bank of England statistics on bank lending to small businesses. The figures to the end of July show strong support to SMEs but will this continue post-Brexit? Bad debts and writing off irrecoverable amounts is not what you want to happen every day but new research reveals that many businesses are being faced with accepting losses on money owed to them. Alternative finance continues to be a growing source of finance for small businesses and a new survey from Deloittes shows how many businesses are aware of it and intend to use it to fund growth plans. The findings suggest there is scope for improvement.
The reasons for business failure can be many but we start the latest Business Finance Bulletin podcast by looking at two key reasons as revealed in a survey carried out by R3, the insolvency industry body. Banks and small businesses have had a strained relationship and according to a new study just out, it’s not got any better with many businesses owners saying they feel unsupported. We look at as to why that is. With awareness and usage of Peer to Peer and crowdfunding on the rise we share news of the latest addition to the market. This new player is out to support growing small businesses with a range of financial products.
Equity crowdfunding has broken a record with the news that Crowdcube has raised the largest sum on the platform to fund its own business growth plans. In this Bulletin we look at the deal and how Crowdcube is supporting other businesses looking to raise finance. Sole traders and small businesses that deal predominately in cash can suffer from bad debts just the same as any other business. We look at how many businesses are faced with walking away from money owed to them and how mobile payment services such as that offered by Paym can help. As Peer to Peer lending and crowdfunding grows in popularity, what impact is it having on the UK economy? That’s a question asked in a survey undertaken by the Centre for Economies and Business Research in conjunction with Funding Circle. We look at the key findings and what benefits businesses are gaining from raising finance via this route.
Annual Financial Statements and the information they contain can be a mystery for many business owners. However, if you know how to read your Accounts and how to calculate certain ratios they can be a goldmine for any business owner looking to improve their financial performance. Not only that, because your bank will also be checking these ratios you’ll be ahead of the game when it comes to raising business finance. In this podcast Business Loan Services’ Rob Warlow takes you step-by-step on how to calculate and use these ratios, Debtor Collection Days, Creditor Payment Days, Stock Turnover and Gross Profit Margin Percentage.
The long awaited final report from the Competition and Markets Authority on the UK banking sector has been released. The recommendations for changes in the way banks interact with small businesses has not been the bombshell many were hoping for. We look at the recommendations and how SMEs could benefit. Hot on the heels of the recent cut in interest rates designed to boost demand for finance, what is the appetite to borrow money amongst SMEs? We review the findings from a recent EEF survey which reveal that actions from the Bank of England to encourage businesses to borrow may fall on deaf ears. Business owners were disappointed last year when the government announced changes in the way dividends are taxed (less money in your pocket of course!). A review carried out by accountancy firm Moore Stephens has highlighted a consequence of this change in taxation which could have a negative impact on much needed growth plans.
With news that the Bank of England has reduced its Base Rate and an announce of a new scheme to get banks lending and businesses borrowing, in this edition of the Business Finance Bulletin we look at whether these will have the desired impact. We take a look at the findings from a survey carried out by the British Chamber of Commerce and Bibby Financial Services which reveals low awareness levels of the sources of alternative finance amongst UK SMEs. Have you been faced with writing off a debt owed to you following being hit by a late payment of an invoice? The latest Bibby’s SME Confidence Index suggests that too many businesses are writing off debts and the average sum involved is not small.
In this edition of the Business Finance Bulletin podcast we start off with a look at where businesses get their financial advice from… and the number one source is not the most reliable. Alternative sources of finance have been springing up from the least expected of companies and one of those is PayPay. We take a look at an update from PayPal on how successful it’s Working Capital facility has been amongst its UK clients. Late payment can be a serious topic but Xero, the online accounting software provider, has put a special twist on one of Adele’s songs to highlight the problems late payment can cause. Take a look on our blog where you can watch the video! Recent Bulletin’s wouldn’t be the same without mentioning Brexit but this week alternative finance provider Capify, presents a positive message about its impact – a nice change!
In the latest episode of the Business Finance Bulletin podcast we look at the continued fall-out from the Brexit vote; how the Bank of England have taken actions to boost bank lending and lender’s appetite to support UK small businesses. We review the latest quarterly Small Business Index survey released by the Federation for Small Businesses which, although prepared before the EU Referendum, indicates that business confidence was already slipping. Does late payment have an impact on productivity? The answer is revealed in a survey carried out by Xero, the online accounting software provider, which also reports on how many days per month business owners spend on chasing late payers. What a waste.
This episode of the Business Finance Bulletin is a ‘Brexit Special’. Following the decision to exit the EU we look at what impact the move could have on UK small businesses. As explained in this Bulletin, Rob Warlow from Business Loan Services highlights three potential impacts which could affect your profitability. Having looked at the negative impacts, what actions can you take to soften the blows? Rob shares five key actions you can take to mitigate the risks as we enter a potentially difficult time in terms of the UK economy. Get your pen and paper ready!
In this Business Finance Bulletin episode, we start off with news from Funding Circle of a £100m facility from the European Investment Bank for onward lending to UK small businesses. The facility will sit alongside an investment to be made by Funding Circle’s SME Income Fund. Another growing source of alternative finance is that of asset finance. We look at the latest figures from the Asset Based Finance Association which reveal that facilities extended to small businesses over the last 12 months have dramatically increased. Cash is the lifeblood of all businesses and a survey from audit and taxation consultants RSM has found that businesses can release cash trapped in their business by better management of day-to-day working capital. I share one key working capital component where cash can often get stuck.
In this week’s Business Finance Bulletin podcast news from crowdlender Ratesetter on the formal launch of its small business loan product which, in the pilot stage, has already seen £250m distributed to UK SMEs. Staying with alternative finance we look at results from Close Bros latest quarterly Business Barometer which reveals that a significant number of businesses believe that alternative finance can help grow their business. Turning to traditional finance, we have news from Barclays Bank on a new fund to support lending to small businesses in Scotland. To close we have insights from Max Woodman of Catalyst Finance on how their Selective Invoice Discounting service can help alleviate cashflow problems.
We start off this Bulletin with a look at a record-breaking crowdfunding equity campaign via Crowdcube for children’s pre-paid debit card provider, Go Henry. The amount raised, which was twice the sum originally planned for, has sparked a debate about the maximum amounts which can be raised via crowdfunding platforms. Turning to debt crowdfunding, we have news from South West based lender, Folk2Folk, which has passed a new milestone in terms of money lent. New research from NESTA, the innovation foundation, reveals that unlike businesses, the charitable sector is not taking full advantages of the benefits which come from raising money via crowdfunding. We look at what the barriers and benefits are of using this form of fundraising.
In this episode of the Business Finance Bulletin podcast, we open with a look at the findings of a survey carried out by alternative finance provider Amicus on the number of businesses getting a ‘no’ from their banks. Selling shares in a business to raise capital is often extremely low on an entrepreneur’s radar and yet findings from the British Business Bank’s Equity Tracker Report reveal that the amounts invested are on the increase. When it comes to late payment we often associated the problem with fellow business owners but what about individuals? We take a look at an unexpected reason as to why this category of customers pay late. As summer approaches, for many small business owners it’s a case of cashflow summertime blues. A survey from Hitachi Capital Invoice Finance reveals that July can be a tricky time for businesses. What can you do to avoid suffering from cashflow blues?
In this Business Finance Bulletin podcast, a look at the launch of the British Business Bank’s ‘Help to Grow’ scheme with £30m of loans being channelled through Lloyds Bank aimed at helping high growth and innovative firms. New research from UHY Hacker Young has revealed how small businesses are taking a disproportionately high share of fines imposed by HMRC compared to their larger counterparts. We take a look at why that is. It’s important you know what’s contained in your Credit Report and yet according to a recent survey carried out by Which, a large number of people have never looked at their report. We explain why you should do so when it comes to borrowing money. And to close we have news from the Royal Bank of Scotland on how it’s going to signpost businesses it can’t help to alternative lenders via its new Capital Connections platform. It’s all part of the government’s drive to encourage banks to offer alternative lenders if they say ‘no’.
In this Business Finance Bulletin podcast, we have review of the proposals coming out of the Competition and Markets Authority report on how banks can improve services provided to its small business customers. The proposals range from enhanced transparency and the creation of a pricing comparison website. We look at a survey which reveals how procurement managers are tackling late payment by using dynamic discounting to encourage faster payments or even payment up front. We share one way you can take advantage of this strategy. Latest statistics from the Finance and Leasing Association show strong growth in the asset finance sector which as we report, put the banks to shame.
In this latest Business Finance Bulletin, we take a look at a recent survey from Zurich Insurance on small business owner’s attitude to the risks they currently facing. Whilst you can expect it makes slightly depressing listening to there is some good news as well. Turning to business confidence generally findings from Aldermore Bank reveal that all is not doom and gloom amongst UK entrepreneurs with a lot of positively for the medium term. We also take our monthly look at what banks are up to in terms of lending following release of the Bank of England’s latest bank lending statistics. In the Business Finance Tip of the Week why, when it comes to raising finance, forewarned is forearmed.
In this Business Finance Bulletin podcast, we kick off looking at Trade Credit Insurance with news from the Association of British Insurers on how the sector performed in 2015 in respect of the amounts paid out. The Small Business Enterprise Bill has now been given Royal Assent and we look at what we can expected in terms of tackling late payment. A survey from Amicus Finance has looked at demand amongst business owners for sources of alternative finance. The findings reinforce the trend that alternative finance is going mainstream In the Business Finance Tip of the Week three tips on how to choose the right Accountant for you and your business.
In this episode of the Business Finance Bulletin we start off with findings from a recent survey carried out by Wesleyan Bank which reveals that a large proportion of small businesses now have an aversion to debt. The report also lists the common sources of finance businesses are turning to. The Enterprise Finance Guarantee Scheme has been around for a number of years and following a review we look at suggestions made by the British Business Bank on how the scheme can be improved. Late payment is a big barrier to growth, particularly for small businesses and this fact is highlighted in a new report from the Asset Based Finance Association. The report reveals a significant gap in experiences between small and large businesses. We also take a look at a new app launched by Nat West designed to help its small businesses gain a better understanding of borrowing options. In the Business Finance Tip of the Week, a question you should ask yourself before you go looking for finance.
In this Business Finance Bulletin how has the crowdfunding and Peer to Peer lending sector performed in the first quarter of 2016? The latest figures from the Peer to Peer Finance Association reveal solid growth on the same time last year. HSBC are the latest bank to pledge increased support to SMEs with the announcement of a pot of cash ready to lend. We also look at HSBC’s online lending application platform to help businesses get quicker answers. Taking a leaf out of the crowdfunder’s book? What sources of finance are small businesses tapping into and what keeps them awake at night? That’s a question asked by Hitachi Capital in its recent small business survey. The answer to the cause of sleepless nights may not be a surprise. In the Business Finance Tip of the Week, when a bank says it’s for ‘KYC purposes’, what does it mean?
In this episode of the Business Finance Bulletin a look at Atom Bank, a new online-only bank which has announced that it is now targeting small businesses following approval of its SME lending service. Back to the traditional High Street banks, Lloyds Bank has announced the launch of it 2016 SME Charter. Their pledges include support for new businesses wishing to start exporting and targets in terms of lending to small businesses. Recent Bulletins have featured surveys reporting that small business confidence is on the wane but in this Bulletin we share positive findings from the latest Bibby Financial Services SME Confidence Tracker, which counter previous negativity. In the Business Finance Tip of the Week, we look at what overtrading is and how you can tackle it.
In the latest episode of the Business Finance Bulletin, news from Santander on its collaboration with online lending platform Kabbage. The alliance will allow Santander’s small business customers to apply for loans online to speed up the lending process and is a nod to the success of the online lending revolution. The government’s plan to help alternative finance providers has been boosted by banks now being required to share borrower credit information with three credit reference agencies. This increased transparency will allow alternative lenders to make more informed decisions when supporting small businesses. The asset-based finance industry continues to go from strength to strength with the latest figures from the Asset Based Finance Association showing continued growth in 2015. In the Business Finance Tip of the Week, why you should be negotiating with your suppliers to ensure you get the best deal and tips from negotiation expert Derek Arden on negotiating with your bank.
In the latest episode of the Business Finance Bulletin a look at the latest statistics from the Bank of England on how much money UK businesses are borrowing from banks. Once again it’s small businesses which are coming out on top. There’s news of a partnership between Barclays Bank and the UK Business Angels Association with the announcement of mentorship and growth advice service for High Growth businesses based in Birmingham. Efforts to tackle late payment have been high on the UK government’s agenda but in an ironic twist of fate the government is now late in launching a ‘name and shame’ programme promised as part of the Small Business Enterprise Act. With HMRC looking for every penny it can lay its hands on we share a warning from accountancy firm UHY Hacker Young that small businesses are vulnerable to coming under HMRC scrutiny. In the Business Finance Tip of the Week, a question you should ask your bank manager if they have said ‘no’ to your finance request.
In the latest episode of the Business Finance Bulletin we review the most recent quarterly survey from the Federation of Small Businesses. The report reveals falling confidence levels amongst SMEs but there’s good news in terms of access to finance with more businesses getting the finance they need. We have news of another alternative lender, merchant cash advance provider Liberis, which has benefited from the British Business Bank ENABLE programme via a £5m fund to on-lend to growing SMEs. Businesses in the Greater Manchester area which are exporters or have ambitions to export can now take advantage of a new £9.5m fund. We take a look at how the Greater Manchester Export Fund works. In the Business Finance Tip of the Week a chat with Steve White of Thornbury Collections in which he shares the strangest late payment excuse he’s ever heard and general tips on managing late payment.
In this episode of the Business Finance Bulletin a look at the announcements in this week’s Budget focusing on small business finance issues. There’s news of a fund for growing businesses, Help to Grow, an extension of the Enterprise Finance Guarantee programme and a further step forward in the launch of the Bank Referral Scheme. When comes to dealing with finances time is also short and that’s why clients of alternative lender Just Cashflow can now benefit from the launch of a new mobile app. We take a look at how it can help time-stretched business owners. Concluding our look at the findings from the latest SME Finance Monitor report we review small businesses attitude to debt and awareness levels of alternative funding sources such as crowdfunding. In the Business Finance Tip of the Week a signpost to a video on how to calculate and use the Stock Turnover Ratio to improve your stock management and boost your cash position.
In this episode of the Business Finance Bulletin we start off with news of the latest addition to the BLS team, Simon Watts. We will be hearing from Simon in a future Bulletin with his thoughts on obtaining finance from banks. Access to finance for start ups has always been a challenge and in this episode we look at a milestone reached by the Start Up Loan Company which was established in 2012 to help new businesses get finance. Increasing competition in the SME finance sector has always been on the government’s radar and as part of its review into this issue the Competition and Markets Authority is advocating an SME finance Price Comparison website. Could it work? Continuing our look at the findings of the latest SME Finance Monitor Report we look at the gap between business owner’s confidence levels at getting finance and what the actual success rate is after they have applied. In the Business Finance Tip of the Week Rob shares a lesson learned from three recent client meetings which reveal that banks are indeed waking up.
In this episode of the Business Finance Bulletin a look at the latest statistics from the Bank of England which reveals the current level of borrowing by UK SMEs. Also a review of the key findings from the recent SME Finance Monitor Report which includes how many businesses are using external sources of finance, the type of SMEs accessing such finance and the number of businesses who are not borrowing at all. Marketinvoice, the online invoice discounter, has taken a look at late payment experiences across 80 countries and the results indicate that we have a lot of work to do in the UK to speed up payment. Are you planning to grow or change your business within the next three months? That’s the question posed to 1,021 businesses by Hitachi Capital as part of its regular British Business Barometer Report and the answer reveals that SMEs are now more cautious than before. And in the Business Finance Tip of the Week a signpost to a recently posted video which shows you how to calculate and use the Creditor Payment Ratio.
In the latest episode of the Business Finance Bulletin, news that the number of High Growth Firms is on the increase according to findings by the Enterprise Research Centre. We take a look a new business loan fund launched by a regional lender, Coventry and Warwickshire Reinvestment Trust, aiming to support growing businesses in their locality. There’s news of support being given by British Business Bank to an alternative lender to help boost funds for on-lending to businesses in need of asset finance. Staying with asset finance and leasing we take a look at statistics from the Finance and Leasing Association which reveal strong growth in the sector in 2015. And in the Business Finance Tip of the Week a look at a series of forthcoming videos in which Rob Warlow will be sharing insights into ratios you can calculate to help boost the performance of your business.
In this episode of the Business Finance Bulletin a look back at 2015 in the alternative finance and crowdfunding market. The latest annual report from NESTA, Pushing Boundaries, provides an insight into how crowdfunding continued to grow in 2015. If you are looking for an asset finance facility to fund your growth plans there’s news of a funding boost for the alternative lender LDF provided by the British Business Bank. Xero, the cloud accounting software service, asked business owners what they thought the key ingredient for a successful business is. The entrepreneurs also shared their top three business pain-points. Do you suffer from any (or all) of these three barriers to growth? And in the Business Finance Tip of the Week when to comes to raising business finance, what influence do past business successes or failures have?
In the latest episode of the Business Finance Bulletin a review of the findings from the recent Small Business Finance Market Report. Released by the British Business Bank the report reveals that bank lending to SMEs is on the up and shares the sources of finance being used by small businesses. Do you know the true of your business loan? That’s a question being posed by Growth Street, the alternative overdraft provider, as it calls for more transparent pricing via the introduction of an APR for SMEs. Receiving payments via mobile phone may still be relatively new but we look at news from Paym, the mobile phone payment provider, on how usage of their service is rapidly on the increase. And in the Business Finance Tip of the Week how a calculation taken from your Balance Sheet can test the strength of your solvency.
In this episode of the Business Finance Bulletin finally an edition packed with good news. We take a look at the latest figures from the Bank of England which show an annual growth in bank lending to small businesses (and not such good news for the larger businesses though). In the crowdfunding world an update from the Peer to Peer Finance Association confirms that crowdfunding had another strong year in 2105 in terms of money lend, an increase in the number of private investors and borrowers. Staying with crowdfunding, there’s positive news from Assetz Capital which has announced a significant pot of new money to lend out to SMEs and details of the launch of a new equity crowdfunding platform, GrowthDeck. And to round-off the crowdfunding theme of this edition, a clip from a seminar in which Rob Warlow from Business Loan Services outlines the history of crowdfunding.
This episode of the Business Finance Bulletin is a late payment and cashflow fest. Poor cashflow and management of late payment is one of the biggest barriers facing small business owners when it comes to planning for growth. In this episode Rob Warlow looks at the latest research from Lloyds Bank Commercial Finance which uncovers the extent of the amount of cash trapped in overdue payments. But what’s the solution to this problem? The first way out Rob looks at is a new crowdfunding invoice discounter which can unlock cash so releasing much need working capital to fund growth. The second service is a new innovative support platform launched by a business owner who suffered from the effects of late payment. The service provides guidance and tools designed to ensure prompt payment by your suppliers. Could this work for you? In the Business Finance Tip of the Week Rob gives some tips on writing a one-page Business Plan.
In the latest Business Finance Bulletin Rob Warlow from Business Loan Services discusses more emerging evidence from Bibby Financial Services and the Federation of Small Businesses of a dip in confidence amongst SMEs. Are we in for a rough ride in 2016? If you’re a heavy user of fuel and may be struggling to get a commercial credit card because of a poor credit record then Rob shares a new solution which can also reduce your administration burden. More news about the on-going problem with late payment. Rob shares a recent survey which highlights how much money is trapped in late payment and so holding back growth in the economy. In the Business Finance Tip of the Week… when it comes to the production of Management Accounts, delegate but don’t abdicate.
In this week’s episode of the Business Finance Bulletin Rob Warlow looks at the progress online invoice discounter Marketinvoice made during 2015 and their aims for 2016. In the latest quarterly Red Flag Alert report insolvency firm Begbies Traynor reveals findings that an increasing number of firms are in financial distress and confidence levels in 2016 are on the wane. Rob looks at the reasons behind this dip in business confidence. Would you recommend your bank? Rob looks at a new survey which finds that an increasing number of businesses are willing to do so. But who are these businesses? In the Business Finance Tip of the Week, a look at why your bank would insist on reviewing your personal financial circumstances when extending finance to your business.
In the latest episode of the Business Finance Bulletin Rob Warlow examines findings by R3 of the impact insolvency can have on small businesses which are left with outstanding payments and little hope of recovery. 2015 saw the crowdfunding sector reach new highs. Rob looks at highlights from Funding Circle and Crowdcube and also two industry pioneers who were recognised in the New Years Honours list. Invoice fraud – have you been affected? If you’re luckily enough not to have fallen victim Rob shares news of a service now being offered by Experian to help combat this growing scam. Rob also chats with Damon Rands, a cyber security specialist, where he shares tips on how to protect your business. The Business Finance Tip of the Week focuses on the importance of separating your personal and business finance dealings.
During 2015 our Business Finance Bulletin has featured business and finance tips from various industry experts. We have put together a compilation of interviews carried out in 2015 with tips on growing your business, boosting profits, developing entrepreneurial staff, pitching for finance, using crowdfunding and managing VAT. These collections of tips and ideas come from Dr Paul Thomas, Mike Ogilvie, Rebecca Jones, Steve Clarke, Steve Houghton-Burnett and Liz Maher and thanks to them for sharing their knowledge and expertise. Get ready to take notes to kick start your business in 2016.
In this last episode of the Business Finance Bulletin for 2015 Rob Warlow looks back over the key business finance news in 2015. Rob reflects on 2015 being the year when improved business confidence took hold with more business owners than ever feeling positive about the future. How did the High Street bank perform in 2015 when it came to supporting small businesses? Rob takes a look at the banks’ attitude towards businesses and how the year saw banks forging alliances with providers of alternative finance such as Funding Circle and Assetz Capital. Staying with the alternative finance scene 2015 was the year which witnessed new highs and greater level of awareness amongst business owners of crowdfunding and other sources of finance. 2015 was also the year when new legislation was introduced to help businesses tackle late payment and for banks to pass on introductions to lending platforms where the bank can’t assist.
In this episode of the Business Finance Bulletin Rob Warlow looks at a new service launched by credit card services provider Worldpay in partnership with Liberis, supplier of working capital facilities to SMEs. The WorldPay Business Finance package is designed to release funds against future credit and debit card receipts. There’s news from Ratesetter and how, with support from the British Business Bank, it is looking to increase the level of business loans it’s currently giving to small businesses. Up to date financial information, a perhaps better said, the lack of it, can have an impact on business growth plans. We look at a report from KPMG which highlights the importance of keeping financial information up to date. In its latest Business Barometer report Close Bros reveal some mixed messages on business confidence and growth plans. And in the Business Tip of the Week, one question the bank will ask of themselves when assessing your loan application.
A change from the normal format in this 100th episode. Because our usual Bulletin included outtakes and fails to celebrate the 100th episode this didn't fit a podcast version so here we have a 'podcast-only' episode in which we look at preparing a cashflow forecasts, success rates in getting business finance, the Loan Appeal process, extension of the Funding for Lending Scheme and writing a Business Plan
In the latest episode of the Business Finance Bulletin Rob Warlow reviews the recent Entrepreneur’s Index survey released by Barclays Bank and the Regional Growth Fund. As well as looking at the UK business scene the report focuses on High Growth businesses. Turning to growth finance raised via equity crowdfunding a new report issued by Altfi poses the question of how businesses have fared in raising equity by this method. The ‘Where Are They Now? Report reveals some interesting findings on the benefits of equity crowdfunding Staying with alternative finance Rob looks at study by GLI Finance and Cambridge University Centre of Alternative Finance which states that there a significant funding gap faced by SMEs which are unaware about sources of alternative finance. If you’re suffering from cash flow problems Rob takes a looks at a product from Just Cashflow called BusinessPlus Mastercard which is designed to ease the cash crunch which SMEs typically face. And in the Business Tip of the Week…. invest, don’t spend!
In this episode of the Business Finance Bulletin Rob Warlow reviews peer to peer lender Folk 2 Folk and how they won the recent accolade of Best Lending Platform for Small Businesses. High growth, or scale ups are they are sometimes referred as, are gaining attention in terms of the support and finance they need to meet their potential. We look at the announcement from Barclays Bank of its recent creation of a High Growth and Entrepreneur unit designed to support high growth businesses. Turning back to the crowdfunding world, news of two more local councils joining Funding Circle as lenders to provide financial support to small businesses in their area. These two councils join the growing number of councils providing finance on the Funding Circle platform. In the Business Finance Tip of the Week Rob continues his occasional mini-series looking at how you can calculate and use key ratios from your Profit and Loss and Balance Sheet to spot areas of improvement. In this episode Rob looks at calculating your Creditor Payment Days, or how long on average it takes you to pay your creditors – a potential red flag to your bank!
In the latest episode of the Business Finance Bulletin Rob Warlow looks at an alternative to the traditional bank overdraft. With banks providing less support in the form of overdraft facilities a new service has been launched by Growth Street to fill the gap. There is news of a possible rival to PayPal which could be marketed by Apple in 2016, so one to watch. Turning to challenger banks Rob looks at the results from Shawbrook Bank which shows strong growth in profits and increased support to SMEs. Late payment continues to be a problem for growing businesses and in a new survey Rob shares findings that many businesses are reluctant to chase for payment or even charge interest as is their statutory right. One way to alleviate the impact of late payment is to look at Invoice Discounting. To see how this works Rob chats with Kelvin Thomas from ABN Amro Commercial Finance on how it helps growing SMEs.
In this episode of the Business Finance Bulletin Rob Warlow shares details of a new service launched by Aldermore Bank aimed at helping temporary recruitment agencies overcome problems with administration and more importantly cashflow. More evidence is coming out that business confidence appears to be taking a hit. Rob looks at the latest CBI SME Trends survey which highlights that total orders for domestic and export focused businesses is showing decline. Turning to bank lending to SMEs Rob reviews statistics released by the Bank of England which reveal that businesses are getting increased support from the banks. And in the Business Finance Tip of the Week, a clip from an interview in which Rob talks about the importance and usefulness of an Executive Summary when writing a Business Plan for your bank.
In the latest episode of the Business Finance Bulletin Rob Warlow looks at a new product launched by Market Invoice, the online invoice discounting provider. The new product called Contract Finance will help businesses release previously locked-up cash from contracts delivering regular income. According to a survey from Bibby Financial Services business confidence amongst SMEs has taken a dent and bucked the recent trend of a rise in more confident businesses. Why is this? Rob reveals the sources of finance business owners are turning to as featured in a survey carried out by Santander Corporate and Commercial Banking. Which source is proving surprisingly popular? In the crowdfunding world, the latest lending figures from the P2P Finance Association show that its members are reaching new highs in their support of growing businesses. Rob looks at how SMEs are benefiting. And in the Business Finance Tip of the Week, Rob shares a calculation you can make from your Balance Sheet and Profit and Loss Accounts which can help pinpoint a problem in your stock control.
In this episode of the Business Finance Bulletin Rob Warlow looks at the findings of the Competition and Market Authority review into the UK banking sector and its recommendations for easier SME banking. What’s the difference in attitude towards alternative finance between relatively young businesses compared to more mature ones? That’s a question posed by Business Banking Insight and their findings suggest that older businesses need to look at alternative sources of finance just as their younger upstarts are. Rob reviews a survey from crowdfunder FundBird on businesses appetite to borrow and what they are financing if they are successful in obtaining funding. Staying with crowdfunding Rob looks at the news from Funding Circle of its entry into the European market with the acquisition of the German crowdfunding platform ZenCap. And in the Business Finance Tip of the Week, a clip from a live seminar in which Rob shares insights into what should be included in a Business Plan written for the bank.
In the latest episode of the Business Finance Bulletin Rob Warlow shares the latest government figures on the number of businesses operating in the UK. The numbers reveal strong growth in new starts and those businesses employing staff. Latest figures from the Finance and Leasing Association on the level of new business being written by asset finance providers also show strong growth. Rob looks at one type of asset being financed which is proving popular. Sufficient working capital can be a constraint for a growing business and Rob looks at a survey focused on what is holding businesses back in terms of finance. And in the Business Finance Tip of the Week Rob shares a tool you can use to assist in spotting red flags in respect of cashflow. This tool, referred to as a Debtor Collection Ratio is a calculation taken from your Balance Sheet which provides a useful guide as to how long it’s taking you to collect payment from your customers.
In this week’s episode of the Business Finance Bulletin finally some good news on late payment with the announcement from Tescos of a revision in its payment terms with their small suppliers. Could this be a start of a trend of big businesses listening to concerns around late payment? Turning to the alternative finance scene news from single invoice discounter Platform Black on reaching a new milestone in terms of finance raised for growing businesses. Have you ever had a Notice to Close your bank account? It can happen and Rob explains what you can do about it. With the government keen to ensure finance companies are lending there’s news of a line of funding being granted by the British Business Bank to leasing and asset finance provider Hitachi Capital. And in the Business Finance Tip of the Week a clip from a live seminar in which Rob shares his thoughts on the importance of knowing what your credit report reveals about you.
In the latest episode of the Business Finance Bulletin Rob Warlow looks at a report from Liberis, a finance provider, on the issues growing businesses face particularly in terms of late payment and how you can avoid it. The Seed Enterprise Investment Scheme is a little known scheme devised to help both start ups and investors make use of attractive tax breaks. Rob shares findings from a review as to how popular the scheme is and looks at the SEIS eligibility criteria. Turning to crowdfunding, Rob has news from the Centre for Economics and Business Research which predicts that the amount of money accessed through crowdfunding will grow to a significant sum by 2020. If you’re a VAT registered business you are probably familiar with the challenges of meeting the quarterly demand! Recent figures from finance provider LDF show a large amount of overdue VAT is outstanding to HMRC and in the Business Finance Tip of the Week Rob chats with Liz Maher from Centurion VAT in which she shares tips on managing your VAT risk.
In this episode of the weekly Business Finance Bulletin Rob Warlow examines current trends in late payment with news from the Asset Based Finance Association that despite improving economic conditions late payment problems are on the rise. Continuing on the theme of late payment online accounting provider Crunch has identified within the world of self employment which businesses are best and worst when it comes to chasing payment. Are you one of them? Locally run business loan funds are a useful source of alternative finance for smaller businesses and Rob looks at one fund run by Staffordshire County Council and the success it has had in supporting local businesses. In the crowdfunding world Rob shares news from Market Invoice, the online invoice discounting solution, of another round of funding granted to it by the British Business Bank. Despite a few hiccups lately in terms of growth and business confidence Rob looks at the findings of a survey from American Express Small Business Services which reveals that businesses are reporting strong growth and confidence for the future. And in the Business Finance Tip of the Week a clip from an interview in which Rob talks about the typical cash contribution you have make to a deal to get your bank on board.
In the latest episode of the Business Finance Bulletin Rob Warlow features ethical business lender Fair Business Loans and how after 10 years focusing on the London market they are spreading their wings to assist SMEs across the UK. Rob reviews the findings from a recent Institute of Directors report on the Enterprise Investment Scheme and the Seed Enterprise Investment Scheme, which reveal that more needs to be done to raise awareness of how both businesses and private investors can make better use of the schemes . Turning to crowdfunding Rob shares news of a collaboration between KPMG and crowdfunding platform Invest Den designed to provide support and guidance to those SMEs looking to raise funding. If you are already using an invoice discounting line Rob looks at a new facility, Liquidity Plus, from Close Bros which potentially can release up to 100% of an invoice; a useful boost if working capital is tight. And in the Business Finance Tip of the Week a look at the difference between profit and cash!
In this episode of the Business Finance Bulletin Rob Warlow looks at the findings from the latest quarterly SME Finance Monitor report. The report highlights why you should never assume anything when dealing with your bank! Turning to the asset-based finance sector Rob has news on how this form of finance continues to outpace the banks in terms of support to small businesses. In the crowdfunding world Rob looks at the announcement from equity crowdfunding platform Crowdcube on a new milestone reached in respect of funds raised. What are your confidence levels like about where your business is going over the next few months? Find out what business owners said when asked this question by Bibbys Financial Services as part of their regular SME Confidence Tracker. And in the Business Finance Tip of the Week a clip from a live seminar in which Rob talks about why business owners hate writing business plans.
How a bank assesses a business finance request can be a mystery to many business owners. What is it exactly is it that a bank wants to see and what goes into the review process? In this episode of the Business Finance Bulletin Xtra Rob Warlow from Business Loan Services talks about the key points banks look for in order to relay that all too elusive 'yes' to your business finance request.
In this episode of the Business Finance Bulletin Rob Warlow reviews the latest report on the banking sector’s Loan Appeal process which reveals how many businesses are successfully overturning a ‘no’ from their bank. In the crowdfunding world there’s news from Funding Circle on a change in the way interest rates are calculated which should benefit both borrowers and investors. Continuing on the topic of alternative finance Rob shares an announcement by card payment provider iZettle that it intends to start offering loans to its clients based on the volume of card business being transacted each month. Where do you go to for advice? Rob looks at the findings from a recent survey which reveals one of the key sources business advice which may not be the best! And in the Business Finance Tip of the Week a clip from an interview in which Rob talks about why the sector you operate in is important to the bank.
In this latest episode of the Business Finance Bulletin Rob Warlow looks at an appeal from the CBI for the government to help medium-sized business access long term loans by introducing a number of new initiatives. Rob shares findings from a new report which suggests that banks are now feeling under threat from the growing band of alternative finance providers with the solution being if you can’t beat them then join them! To combat struggles that small businesses have in accessing invoice discounting facilities Rob has news about moves by the government to make it easier for businesses to release cash from outstanding invoices. Continuing the theme of late payment Rob also outlines a useful service which can speed up payments due. And in the Business Finance Tip of the Week Rob talks about why you need to think about the security you are prepared to offer your bank.
Why has your bank said 'no' to your business finance request? In this Business Finance Bulletin Xtra podcast Rob Warlow discusses with Theo Van Dort the 7 reasons why your bank could have said 'no'. Listen in so you don't fall into these traps when you are looking to raise business finance.
In this episode of the Business Finance Bulletin Rob Warlow from Business Loan Services reviews the government’s latest moves to curb late payment by launching a consultation paper on the creation of the proposed conciliation service. Late payment often affects the small time trades sector who can get caught by having to wait many weeks when customers don’t have sufficient cash with them to settle bills. Rob looks at new mobile payment service designed to combat this problem. Turning to crowdfunding, Rob has news of initiatives brought out by ReBuildingSociety and Funding Circle to boost awareness and usage by both businesses and investors. And in the Business Finance Tip of the Week Rob shares a salutary lesson about being prepared when it comes to raising finance.
In this second of four interviews with Theo Van Dort, Rob Warlow from Business Loan Services talks about how to write an effective Business Plan. It can be difficult to know what to include in your Business Plan but Rob shares an outline and template which makes the whole process much easier.
In the latest Business Finance Bulletin episode Business Loan Services’ Rob Warlow looks at the latest Business in Britain survey from Lloyds Banks which reveals the strong level of business confidence and the one key issue which is holding businesses back. On the alternative finance scene Rob talks about findings from small business finance company Liberis on how SMEs are sourcing finance and what success they are having. Staying with alternative finance a look at the latest statistics from the Peer to Peer Finance Association which show further growth in the level of finance support by P2P platforms… but is there a slight blip in the amount lent to small businesses? And in the Business Finance Tip of the Week Rob looks at the short term loan market and how it can help those businesses which have temporary cashflow gaps.
Do you really need a Business Plan? In this edition of the Business Finance Bulletin Xtra Rob Warlow from Business Loan Services talks about the importance of having a business plan when it comes to applying for business finance. But as Rob discusses a business plan also has benefits outside of raising finance.
In the latest Business Finance Bulletin episode Business Loan Services’ Rob Warlow takes a look at a recent survey carried out by short-term business loan provider Just Cashflow on business owners skills gaps and what they wished they had known when they first started out in business. Late payment continues to be a problem for growing businesses and Rob shares findings from two surveys carried out by BACS and the Asset Based Finance Association which reveal a mixture of good news and bad news on late payment experiences. There is news from Metro Bank, one of the growing number of challenger banks, on the revamp of its small business offering. And in the Business Finance Tip of the Week Rob shares insights into problems some of the Business Loan Services’ clients have experienced in terms of their credit reports which are vital when it comes to obtaining business finance.
In the latest Business Finance Bulletin episode Business Loan Services’ Rob Warlow looks at the new government £100m Housing Growth Partnership scheme launched in conjunction with Lloyds Bank. The scheme is designed to boost house building via improving access to finance. It’s surprising the number of businesses which are holding large amounts of surplus cash according to a survey by challenger bank Hampshire Trust Bank. Are you one of them and could you be earning a better return? Rob looks at the announcement from Sage, the accounting software provider, of its tie up with Market Invoice and Funding Circle to provide clients with access to alternative sources of finance. Staying with alternative funding Rob shares news of crowdfunding platform Funding Empire having new majority shareholders which signals growth for this platform. And in the Business Finance Tip of The Week Rob looks at market disruptors and crowdfunding.
In this first edition of the Business Finance Bulletin Xtra Rob Warlow takes you through the experiences small business owners have when it comes to raising business finance… are they getting what they want? The need for business finance can be compounded by late payment and cashflow problems which remain a challenge for business owners. Rob looks at how this is affecting them. Crowdfunding continues to gain in popularity and Rob looks at news from the P2P Finance Association on how the sector continues to grow. If you’re looking for more traditional sources of finance then Rob takes you through the five steps to getting the business finance you need.
In the latest Business Finance Bulletin episode Business Loan Services’ Rob Warlow looks at Amazon’s entry into the small business lending market by extending loans to businesses operating on its Marketplace. In the latest figures from the Bank of England Rob looks at the level of support being given by banks to small business with continuing evidence that more finance is going out the banks’ doors. If you want to avoid the High Street banks Rob shares news of a new £40m SME fund launched by Enterprise Ventures in conjunction with Santander and the Greater Manchester Pension Fund. The fund seeks to provide loans to businesses across the UK, in all sectors and for a variety of purposes. In the Business Finance Tip of the Week Rob talks with Rebecca Jones, the Red Shoe Biz Woman, on developing an entrepreneurial mindset amongst your staff.
In the latest Business Finance Bulletin episode Business Loan Services’ Rob Warlow looks the forthcoming changes in ISA rules and a survey from Yorkshire Bank and attitude to risk amongst savers which could see a boost to the crowdfunding market. Staying with crowdfunding Rob shares news of the launch of a new crowdfunding platform. Bricks Financial is based in the South West and will primarily focus on servicing the local market. According to the latest survey from the Federation of Small Businesses confidence amongst small business owners is strong and they are focused on where they are investing their money. In the Business Finance Tip of the Week Rob looks at reviewing and controlling your overheads to ensure you are making the best returns from your business.
In the latest Business Finance Bulletin episode Business Loan Services’ Rob Warlow tackles the age-old problem of late payment. Rob looks at recent research from the Association of Chartered Certified Accountants (ACCA) which reveals the extent of the problem and possible solutions. Many businesses don’t realise that to help offset the costs of the impact of late payment they are allow to charge interest and Rob shares news from Lovetts, the debt recovery firm, on how awareness of this right is on the increase. Unlike bank lending asset finance continues its growth as more businesses turn to this alternative source of finance. The latest statistics from the Asset Based Finance Association show just how popular it has become. In the Business Finance Tip of the Week Rob looks at the benefits of planning ahead and getting ‘finance-ready’ well before you need to approach a lender.
In the latest Business Finance Bulletin episode Business Loan Services’ Rob Warlow looks at a survey from Bibbys Financial Services which reveals the sources of finance that business owners are tapping into. The SME Finance Monitor Report is quarterly survey on the state of the small business finance market and Rob continues his look at its findings. The question posed is how successful are business owners in getting a ‘yes’ from their bank? The answer may surprise you. In terms of raising money from banks Rob also shares a conversation he had with a business owner on why asking your bank for too little can work against you. And in the Business Finance Tip of the Week a clip from an interview in which Rob discusses why it’s important to know that banks are keen to understand exactly why you want to borrow and how the finance you are requesting will be used.
In the latest Business Finance Bulletin episode Business Loan Services’ Rob Warlow looks at how business owners are becoming more aware of alternative finance and willing to consider it as an option to obtain funding. Rob also shares news from Funding Circle of their new bridging loan product. The Funding for Lending Scheme, launched by the government in 2012 to boost lending to small businesses, may not have been roaring success, but Rob looks at statistics which shows signs of improvement in usage by the banks involved in the scheme. A clean Credit Report is one thing a lender will look for when assessing a finance request but such don’t necessarily provide a complete picture… until now. Rob shares news from Experian on how additional information now being shared will provider lenders with a better understanding of an applicant’s financial position. In the Business Finance Tip of the Week Rob chats with Gareth Pritchard of Lloyds Bank Commercial Finance in which talks about the key features of Invoice Discounting.
In the latest Business Finance Bulletin episode Business Loan Services’ Rob Warlow looks at highlights from the most recent SME Finance Monitor Report which reveals a number of interesting findings on how businesses are dealing with the issue of raising finance. In a report from Hitachi Capital Rob looks at how business confidence is on the rise with more businesses looking forward to growth. Relative newcomer to the banking market Metro Bank is looking to shake up the Invoice Discounting industry with changes announced to its service. In the Business Finance Tip of the Week Rob chats with Nick Rowe from PricewaterhouseCoopers in which he shares their thoughts on the four levers of growth which small businesses need to be mindful of when planning ahead.
In the latest Business Finance Bulletin episode Business Loan Services’ Rob Warlow looks at proposals from the government as part of a new Enterprise Bill to reduce red tape and tackle late payment. The issue of late payment and how it damages businesses is the focus of a new survey from the insolvency industry trade body R3 which reveals the impact late payment has on potential insolvencies. Rob also looks at the collaboration between Metro Bank and peer-to-peer lender Zopa which is the first of its kind. Could we see more of this? Oaknorth is the latest new bank on the block which has just recently launched. Rob takes a look at how it is going to support UK small businesses. In the Business Finance Tip of the Week Rob chats with angel investor and business speaker Steve Houghton-Burnett and he shares three tips on how to ensure success in a equity crowdfunding pitch.
In the latest Business Finance Bulletin episode Business Loan Services’ Rob Warlow looks at the latest statistics on bank lending to small businesses which show that banks are starting to provide more support. Evidence of an increase in bank appetite to lend to small businesses is starting to show as Rob discusses news from HSBC of renewed focus it is giving to supporting UK small businesses. You may not expect one of the Dragons Den panel to turn to crowdfunding to raise finance but that is exactly what Kelly Hoppen has done. Rob looks at a pitch Kelly has launched on crowdfunding platform Crowdcube. In the Business Finance Tip of the Week Rob looks at the short term finance market in a chat with Max Woodman from Catalyst Finance and how they are helping businesses fill short term cashflow gaps.
In the latest Business Finance Bulletin episode Business Loan Services’ Rob Warlow looks at the news of collaboration between crowdlender Funding Knight and short-term alternative lender Just-Cashflow to assist growing businesses. Looking at the crowdfunding industry as a whole, Rob looks at statistics from the Peer to Peer Finance Association on finance raised by its members during the first quarter of this year which reveal a continued growth surge. Rob also looks at evidence of a steady improvement in the economy with news that the overall number of company insolvencies is on the way down according to official government statistics. In the Business Finance Tip of the Week Rob chats with Santander’s Paul Brooks, Business Development Director, Wales about the bank’s Breakthrough Programme designed to help growing businesses with a variety of support schemes.
Rob Warlow from Business Loan Services shares the 5 steps you need to take in order to increase your chances of getting that all too elusive 'yes' from your bank.
In the latest Business Finance Bulletin episode Rob Warlow discusses two surveys which touch upon the subject of seeking out advice and support from professional advisors. The first survey looks at how many businesses are currently looking to sell up and why that is. In terms of the start up market Rob talks about another survey from Aviva focusing on the support and advice start ups seek. Invoice discounting continues to grow in popularity but Rob looks at news from Market Invoice about the lack of transparency and hidden fees which are prevalent in the invoice discounting industry. Rob also discusses the news that BrewDog, the craft beer brewer is looking to raise £25m to fund its expansion but doing it on their own under their ‘Equity for Punks’ scheme and so bypassing the industry stalwarts. In the Business Finance Tip of the Week a clip from a live seminar in which Rob talks about the impact on cashflow of carrying too much stock.
In the latest Business Finance Bulletin episode Rob Warlow looks at the latest result from the Begbies Traynor Red Flag report which provides insight into how businesses see their financial condition in the first quarter of 2015. Having the right skill set within a business is often cited as one of the barriers to growth and Rob looks at a new programme from Close Brothers, the asset-based lending bank, and the University of Sheffield designed to support businesses looking to take on apprentices. With many alternative providers of finance looking forward to 2016 when banks will be required to pass on clients they cannot assist, one alternative funding platform reveals the extend of help they think UK small businesses will need. In the Business Finance Tip of the Week Rob chats with sales mentor , author and international speaker Steve Clarke about whether there is any difference between selling products to customers and selling your idea to your bank.