Nearly two-fifths of European businesses have knowingly fallen victim to a cyberattack in the last five years, with 64% admitting that they may have been hacked unknowingly, according to a new report by RSM, This is compounded by a sense of apathy and acceptance, as 62% of respondents believe hackers are more sophisticated than security…

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 7% over the same period. The plant and machinery finance,…

Asset Finance company, Bibby Financial Services (BFS), has announced the appointment of Theo Chatha as Chief Financial Officer. Prior to joining BFS, Chatha spent eleven years with Close Brothers, holding a variety of executive roles across its banking, property finance, and asset finance and leasing divisions. Most recently, he held the role of Bank Finance Director, overseeing…

A newt MarketInvoice business Insights report has explored the attitudes of UK SME owners on managing cash flow. In its new survey, it found that over half (52%) of business owners said they relied on making ad-hoc paper notes, using spreadsheets or relying on text messages from their bank to understand their cashflow position. Meanwhile,…

Heightened restructuring activity has seen the half-year net reduction in stores on Britain’s high streets hit record levels according to research by the Local Data Company (LDC) and PwC. The first half of 2019 saw almost twice as many store closures (16 per day) as openings (9 per day). In total, 1,634 stores opened and…

CYBG’s SME Health Check Index, a quarterly measure of performance and outlook for UK SMEs, fell by 6.9 points to 41.9 in Q2 2019, as economic and political uncertainty continued to weigh on business confidence. The study overall, however, reveals a mixed picture, with continued resilience in the labour market, and encouraging insights on business…

The use of bailiffs to collect debts owed to local authorities in England and Wales has risen by 7 percent in two years, driven by a surge in the use of bailiffs to collect parking debts, according to new research by the Money Advice Trust, the charity that runs National Debtline and Business Debtline. More than 2.6 million…

HMRC has announced a one-year delay to the implementation of the Value Added Tax (VAT) reverse charge until 1 October 2020 after “industry representative raised concerns” about the move. In June, the government published guidance about the so-called reverse charge on the way VAT is collected in the building and construction industry. The changes were…

Eversmart Energy, an energy supplier with around 29,000 domestic customers and a very small number of business customers has ceased to trade. Under Ofgem’s safety net, the energy supply of Eversmart Energy’s customers will continue and prepayment meters can be topped up as normal. The outstanding credit balances of domestic customers will be protected. Ofgem…

Secure Trust Bank Commercial Finance has bolstered its team in the Midlands, with the appointment of Matt Broomfield as Regional Sales Director. Broomfield has 13 years’ experience in the business lending market, having previously worked within the asset-based lending departments of major UK banks such as RBS and HSBC. He has developed a wealth of…

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