The announcement by Chancellor Philip Hammond that HM Revenue and Customs (HMRC) would revert to secondary preferential creditor status for taxes collected on its behalf in all insolvency situations will likely have a significant negative impact on lending to UK Plc, according to analysis by Duff & Phelps. In a return to the pre-Enterprise Act…
A new report published by Oxford Economics has found that a decade after the financial crisis, bank lending to small businesses has failed to recover significantly. The “Big Business of Small Business” report, launched in partnership with Funding Circle, finds that small business lending makes up a tiny proportion of banks’ overall balance sheets. In the UK,…
Rimilia has announced that they will co-host an executive event with Microsoft that advises CFOs and CIOs how to use artificial intelligence to improve their financial operations and increase cash. The event titled The Change Catalyst in Working Capital will take place on Thursday, 16th May in London The event will present how global companies…
Just over half (55%) of SMEs have had to turn away growth opportunities because of a bad financial situation, according to new research released today by Nucleus Commercial Finance. The data also indicates that 29% of UK SMEs currently want to grow, but aren’t able to, a clear picture is emerging of businesses being held…
The National Association of Commercial Finance Brokers (NACFB) has launched an enhanced online portal, findsmefinance, offering UK businesses access to the trade body’s membership of independent finance brokers. The free directory enables UK businesses seeking finance to simply filter their funding requirements by loan size, type and location and are then presented with a range…
Net lending to SMEs shrank to £500m last year, compared with £700m in 2017, according to a new report by the British Business Bank. The study also reveals a dramatic slowdown in the growth of alternative forms of funding, including peer-to-peer lending and asset finance. Lending through peer-to-peer platforms rose by 18% last year, compared…
UK Finance has published its latest business finance update for December 2018 which reveals that lending to manufacturers grew by 8.4 percent in the year to December 2018, in contrast to a 0.3 percent contraction in overall UK business borrowing. There was also annual growth in borrowing by the transport and accommodation and food service…
New research from Experian has revealed businesses in the South West have the strongest average business credit scores in Britain, while London ranks as the lowest. Organisations in the South West have an average business credit score of 54.7 – up from 53.4 last year. A business with this score is considered a below average…
UK small firms have raised their concerns about weak economic growth, consumer demand and high lending rates in the latest Federation of Small Businesses (FSB) Small Business Index (SBI). Amid persistent political uncertainty, the domestic economy is flagged more often as a growth constraint by small businesses than any other common barrier to expansion. Close…
Total business volumes in the financial services sector fell slightly in the three months to December, marking the first contraction of demand since September 2013. That’s according to the latest CBI/PwC Financial Services Survey. Meanwhile, sentiment among financial services deteriorated further, rounding off three full years of flat or falling optimism. The quarterly survey of 84…