Business Finance Bulletin

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...

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...

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...

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...

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...

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...

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...

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...

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...

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...

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...

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...

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...

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...

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...

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...

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...

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...

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...

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...