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Cambridge & Counties Bank, Lloyds Clean Growth Fund and Business Confidence – BFB 215

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...


Late Payment Impact, Business Borrowing Experience, and PayPal Working Capital Facility – BFB 214

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...


Barclays Green Trade Loan, Business Insolvencies and Xero on Late Payments - BFB Epsd 213

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...


Equity Finance, Bad Debts Increase and Cyber Crime Awareness - BFB Epsd 212

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...


Funding Circle Business Champion Programme, CountingUp & Business Confidence - BFB Epsd 211

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...


Government Late Payment Consultation, MarketInvoice on Nat West Panel & Asset Finance - BFB Epsd 210

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...


Cyber Attack Implications, Starling Bank Business Account & Crowdcube Campaign - BFB Epsd 209

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...


Revolut Bank Business Services, British Business Bank Support and Business Confidence - BFB Epsd 208

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...


Reluctance to Borrow, Governance and Payment Practices Review and Asset Finance - BFB Epsd 207

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...


Rise in CCJs, Starling Bank Embraces Open Banking and Start Up Finance - BFB Epsd 206

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...


Increase in Insolvencies, Small Business Funding Support and Credit Checks - BFB Epsd 205

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...


Sources of Finance, Open Banking in Action and Filing Accounts Late - BFB Epsd 203

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...


Business Confidence, Asset Finance Boom, and Marketinvoice Trade Credit Insurance - BFB Epsd 202

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....


Opening a Business Bank Account, Triodos Crowdfunding Platform, ESME Loans - BFB Epsd 201

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...


Corporate Insolvencies in 2017, Duty to Report Payment Practices and Business Plans - BFB Epsd 200

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...


CountingUp Launch, Ratesetter Business Loans and Focus on Late Payment - BFB Epsd 199

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...


Carillion Small Business Fallout, Tax Payment Options and Crowdcube in 2017 - BFB Epsd 198

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...


FSB Funding Platform, Zombie Businesses and Asset Finance Usage - BFB Epsd 197

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 is Open Banking? - BFB Epsd 196

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.


Arranging an Overdraft, Lloyds Overdraft Charges and Asset Finance Usage - BFB Epsd 195

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...


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