RSM’s UK Brexit Stress Index nudged up for the first time since the early days of the Covid-19 lockdown, ushering in the first signs in nearly seven months that the risk of no-deal trade talks with the EU is generating increased nervousness within business. This week the pound also saw its worst performing week against…

A study by Onward has found that around 20% of British businesses are only making enough profit to cover their debt interest payments. High levels of corporate debt built up by companies during the COVID-19 pandemic has pushed 4.3% of firms into technical insolvency, the report estimates. In the new research paper titled ‘Paying it…

Fintechs Ebury and MarketFinance, have announced that they have joined forces to offer both CBILS loans and revolving credit facilities to UK SMEs to support them with their business finance needs. The immediate focus of the partnership is to offer lending products under CBILS terms to Ebury clients, the fintechs intend to work together in…

Results from a BCC poll, conducted in partnership with banking group TSB has revealed that many firms have taken on debt during the pandemic and require flexible repayment solutions to rebuild their revenues and avoid an unsustainable debt crisis. The report also suggests that businesses that haven’t taken on debt but may yet need to, favour flexible business banking services…

United Trust Bank has announced that Mark Stokes has joined the company as Chief Commercial Officer. Stokes, formerly Managing Director – Commercial Banking at Metro Bank, has joined United Trust Bank in the newly created role of Chief Commercial Officer. Stokes has over 20 years’ experience at executive committee level working with several established and challenger…

New figures released by the Finance & Leasing Association (FLA) show that total asset finance new business (primarily leasing and hire purchase) fell by 22% in July 2020 compared with the same month in 2019.  In the seven months to July 2020, new business contracted by 31% compared with the same period in 2019. The…

Responding to further changes to the Job Retention Scheme taking effect last week, Federation of Small Businesses (FSB) National Chairman Mike Cherry said: “The Job Retention Scheme has been a huge success, protecting livelihoods and the futures of businesses all over the country. We now have to avoid a scenario where its wind down triggers…

The latest Lloyds Bank Business Barometer has indicated that overall business confidence improved for third consecutive month, up eight percentage points to -14%, but remained well below long-term historical average. Despite the confidence, the latest  Barometer figures continue to languish well below the long-term average and in negative territory, overall business confidence improved by eight…

Eight in ten Chief Financial Officers (CFOs) fear their businesses are ill-prepared to handle a decrease in sales volumes as the full impact of Covid-19 begins to be felt on the UK economy, according to research from Euler Hermes. The findings come from its The Finance Leader of Tomorrow survey, which profiles European finance directors’…

Latest figures from the HM Treasury have shown that almost £53 billion of credit has been issued through the Government’s emergency coronavirus lending schemes, with more than 1.23 million businesses benefitting. Around £35.5 billion has been approved through the bounce back loan scheme for small companies, with £13.7 billion provided to over 60,400 businesses through…