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,…

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…

New identity checks for company directors should be introduced to help reduce business fraud, says Tim Cooper, chair of insolvency and restructuring trade body R3 in Scotland. A Government consultation into enhancing the role played by Companies House in the UK’s anti-fraud framework, which recently closed, provides a real opportunity to significantly strengthen the UK’s…

Almost a third of SMEs (31%) have experienced late payments costing their business at least £10,000 in the last 12 months, according to research by Hitachi Capital. The report says the impact of late payments on the long-term health of the UK economy is estimated to have cost UK SMEs at least £51.5 billion in…

The Chief Executive of the Chartered Institute of Credit Management Philip King has given a cautious welcome to the Government’s call for evidence in tackling late payment but warned against actions that may ‘throw the baby out with the bathwater.’ King says that while the possibility of increased powers for the Small Business Commissioner (SBC)…

The Federation of Small Businesses (FSB) is calling on the Government to tackle crime against small businesses as a priority and help to plug the billions that are being lost in the economy every year as a result. Hiring new police officers will be crucial to tackling business crime in England and Wales and making…

Specialist asset-based lender, Ultimate Finance, has announced a strategic refocus of its product portfolio as it withdraws from the unsecured loan market to concentrate on further investment in its range of core asset-based solutions. The decision enables a full focus on growing its market-leading Invoice Finance, Asset Finance and Bridging products, and aligning its depth…

Overall business confidence fell in August, for the first time in three months, by 12 points to 1%, according to the latest findings from Lloyds Bank Commercial Banking Business Barometer. Overall business confidence is calculated by averaging the views of 1,200 companies on their business prospects and optimism about the UK economy. This month’s business…

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