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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...

Duration: 00:07:42

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....

Duration: 00:05:55

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.

Duration: 00:05:53

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...

Duration: 00:05:33

Business Confidence, Finance Admin Made Easier & Alternative Finance Usage - BFB Epsd 194

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...

Duration: 00:06:12

Business Exits, Planning in Seasonal Downturns & Small Business Borrowing - BFB Epsd 193

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...

Duration: 00:06:33

Avoiding Online Fraud, EFG Boosts Economy and Ambitious Entrepreneurs - BFB Epsd 192

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...

Duration: 00:05:54

Virgin Money SME Banking, Innovate UK Funding & Asset Finance Slowdown - BFB Epsd 191

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...

Duration: 00:04:43

Zombie Businesses, Sourcing Alternative Finance and Finding Angel Investors - BFB Epsd 190

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...

Duration: 00:06:04

Interest Rates, Marketinvoice Business Loans & Enterprise Finance Guarantee Scheme - BFB Epsd 189

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...

Duration: 00:06:12

Lloyds Asset Finance Fund, Business Borrowing Appetite & Reporting Fraud - BFB Epsd 188

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...

Duration: 00:05:20

How to Improve Your Business Credit Score

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...

Duration: 00:06:49

Know Your Credit Score, Business Optimism and Start Up Loans - BFB Epsd 187

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...

Duration: 00:05:43

Opportunities from Brexit, Trade Credit Insurance & Asset Finance Usage - BFB Epsd 186

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...

Duration: 00:05:21

Small Business Commissioner, Starling Bank Mobile Business Account & Working - BFB Epsd 185

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...

Duration: 00:05:48

Who’s Getting Finance, Use of FinTech and Consumer Debt Concerns - BFB Epsd 184

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...

Duration: 00:05:52

Why SMEs Won’t Borrow, Arbuthnot Latham Bank, and Business Optimism - BFB Epsd 183

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...

Duration: 00:07:01

Small Business Borrowing Appetite, Asset Finance and North West Business Growth Fund - BFB Epsd 182

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...

Duration: 00:05:49

Late Payment, Small Business Borrowing and Watching Your Credit File - BFB Epsd 181

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...

Duration: 00:06:46

How Do Banks Assess Your Finance Request? The CAMPARI Framework – Part 2

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...

Duration: 00:05:14

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