The Financial Conduct Authority (FCA) has confirmed plans to extend access to the Financial Ombudsman Service (FOS) to more small and medium-sized enterprises (SMEs). The changes will mean that SMEs with an annual turnover below £6.5m and fewer than 50 employees, or an annual balance sheet below £5m will now be able to refer unresolved…

A third of the 1.1 million UK SMEs with EU suppliers would be unable to operate without imports from the bloc, according to the latest SME Confidence Tracker from independent financial services provider, Bibby Financial Services (BFS). The research news comes as a potential ‘no-deal’ Brexit threatens to disrupt trade between the UK and EU, and…

Bibby Financial Services (BFS) has announced that it has appointed Joe Waters as Head of Sales as it seeks to develop its services to small and medium-sized enterprises (SMEs) operating in the South of England. With industry expertise spanning over 30 years, Waters has held several senior positions in financial services, specifically supporting UK SMEs.…

Latest figures released by the Finance & Leasing Association (FLA) show that asset finance new business (primarily leasing and hire purchase) grew by 10% in August, compared with the same month last year. The plant and machinery finance sector reported new business up in August by 10% compared with the same month in 2017, while…

UK Finance has released its latest Business Finance update for July 2018 which has revealed that lending to manufacturers grew by 7.4 per cent in the last 12 months, in contrast to a wider 2.1 per cent contraction overall in UK business borrowing. UK business deposits for non-financial companies grew by 1.5 per cent in…

The winners of the second annual  2018 Credit & Collections Technology Awards have been revealed. There were sixteen winners from the eighteen Awards categories which are covered by four main headings of Credit, Collections, Credit & Collections services and Innovation. The awards ceremony was held at Credit Services Association’s (CSA) annual Gala dinner at the…

New figures released by the Finance & Leasing Association (FLA) show that asset finance new business (primarily leasing and hire purchase) overall grew in July by 8% compared with the same month last year. New business for deals of up to £20 million increased by 10% over the same period. The IT equipment finance and…

The Government-backed Bank Referral Scheme since the scheme which was launched in November 2016 means that small businesses have been able to source more than £15 million in funding. The scheme allows small businesses rejected by high street lenders to source alternative finance through the referral scheme. The scheme has enable financial support to nearly 19,000 small…

UK Finance has published its July Business Finance update indicating that lending to manufacturers grew by 7.1 per cent in the last 12 months, in contrast to a wider 2.2 per cent contraction overall in UK business borrowing.   Whilst K business deposits for non-financial companies grew by 1.9 per cent in the last 12 months. Commenting…

New figures released by the Finance & Leasing Association (FLA) show that asset finance new business (primarily leasing and hire purchase) fell in June by 3% compared with the same month in 2017, but grew by 5% in the second quarter of 2018 as a whole. The commercial vehicle finance and IT equipment finance sectors…

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