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Mandate Fraud, Accessing Growth Finance and HSBC’s 2018 SME Fund – BFB 227

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...


Barclays and Marketinvoice, Company Insolvencies, and Business Borrowing – BFB 226

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...


British Business Bank, Support for Vulnerable Businesses, and Mid-Size Business Optimism – BFB 225

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...


Business Borrowing Appetite, Finance Collaboration, and Company Failures – BFB 224

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...


Open Banking, Barclays Small Business Finance and Accessing Asset Finance – BFB 223

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...


Business Borrowing Apathy, Business Confidence and Equity Finance – BFB 222

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...


Franchise Finance, Business Borrowing Levels, Business Savings Accounts – BFB 221

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...


Angel Investors, Funding Circle’s Impact and Business Borrowing Appetite – BFB 220

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...


Finance Guidance Portal, Iwoca Business Loans and Asset Finance Usage – BFB 219

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...


CCJs on the Rise, Revolut Connect and Business Optimism and Challenges – BFB 218

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...


Working Capital Increases, Barclays Northern Powerhouse Growth Fund & Business Confidence – BFB 217

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...


Changing Face of Banking, Cambridge & Counties Bank, Lloyds Hinkley Point Fund – BFB 216

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...


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 rising...


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 first...


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 year....


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 to...


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 of...