Supermarket giant Tesco has the worst payment performance amongst a list of the UK’s best-known retailers, taking an average of 105 days beyond terms to pay its suppliers. Iceland and Debenhams were the next two retailers on the list, taking an average of 75 days and 73 days beyond terms respectively to pay their suppliers.…

Adam Tyler the Chief Executive of the National Association of Commercial Finance Brokers (NACFB), is to stand down after 11 years. An NACFB statement said “When Tyler arrived, the Association was run from a small office above a Gift Shop in Exeter with one member of staff looking after 400 members and 48 Patrons. Over the…

Sixty two per cent of a cross section of the UK’s insolvency industry believes that Brexit will lead to an increase in the number of business failures over the next 12 months, according to a survey conducted by international law firm Pinsent Masons. Over 400 insolvency practitioners attended th Restructuring and Insolvency conference, hosted by Pinsent…

Santander has teamed up with Crowdfunder to launch a £200,000 fund to support social enterprises and community projects across the UK in a collaboration called Changemaker Fund.. This is the first time one of the UK’s largest banks has partnering with a crowdfunding platform. Community projects looking to support social change can present their ideas…

The ONS released UK business figures which revealed that there were 2.55 million businesses registered in the UK in March 2016 compared with 2.45 million in March 2015, a rise of around 105,000 (4.3%).   Tim Vine, Leader, Risk Products at Dun & Bradstreet said “These latest figures from ONS have demonstrated that the number of businesses in…

Praetura Asset Finance a specialise provider of alternative funding to SMEs has secured £18m investment from British Business Bank Investments, the commercial arm of the British Business Bank, to boost the firm’s lending capabilities. Praetura launched just over two years ago, has already reached an £85 million turnover, providing asset-based finance, hire purchase, finance leasing and…

RateSetter has published its 2015-16 accounts, showing that it increased revenues from £12.6million to £18.5million over the year. The company made a pre-tax loss of £4.9million, compared to a pre-tax profit of £476k for the preceding year. The company’s results are in line with expectations set out at the start of the year and reflect…

The National Association of Commercial Finance Brokers (NACFB) has launched it’s annual report. Despite the backdrop of political and economic uncertainty surrounding the EU Referendum, small business lending hit an all-time high over the past 12 months. Lending has increased by almost 30% (29.8%) to £20.7billion. The figures are based on business written by NACFB brokers between July…