Credit, Collections & Insolvency News
The FCA’s efforts to improve financial services for SMEs has been the subject of the organisations latest annual report, SMEs are contributing more than £200bn a year, but increasingly feel under-served by banks. SMEs main ask from banks is financial planning tools and business growth advice, especially money management and cash flow tools according to research…
Read moreThe leasing sector needs to become more agile to meet the needs of an increasingly important and ‘entitled’ SME sector. This is the observation from financial software experts Copernicus’ MD Allen Jones reflecting upon a cultural and technical change that is emerging rapidly in the business community. “While there has been much written and reported about…
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Hitachi Capital UK has announced it has acquired of Franchise Finance, a specialist financial services provider to the franchising industry. The transaction boosts Hitachi Capital UK’s lending base to SMEs and franchisees, bringing considerable senior consultancy experience to the Group and helping to build a profitable portfolio within an underserved market. The acquisition also enables…
Read moreA large majority of brokers think they will increase the amount of bridging finance they do over the next 12 months, according to a broker survey by specialist bridging lender Hope Capital, with 97% of broker saying that they are more than happy to work with unregulated lenders. Hope Capital’s survey revealed that for more…
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New figures from a finance industry survey have shown that restricted cash flow and lack of bank support are the top challenges facing SMEs – but that the majority of advisers would recommend alternative finance to unlock the path to growth. The survey of the UK’s advisory professionals’ community by alternative finance specialists ThinCats showed…
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UK Finance has published its latest business update for May 2018. The key findings from the report include: Lending to manufacturers grew by 5.1 per cent in the last 12 months, in contrast to a wider 2.5 per cent contraction overall in UK business borrowing. UK business deposits grew by 3.1 per cent in the…
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A new study by Dun & Bradstreet examining the current state of the compliance and procurement functions, as measured through professional sentiment on related issues like regulation, fraud, technology, and resource has found that increasing regulation continues to be the chief concern for professionals in these industries, while the overall outlook sentiment is positive. The…
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Credit risk analytics expert, Jaywing, has announced a new partnership with specialist SME bank Hampshire Trust Bank (HTB). Increasing regulatory demands on small banks via their ICAAP and SREP poses new challenges to firms who need to be able to actively identify, understand and manage all aspects of risk that their organisation faces in the…
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An independent study commissioned by Dun & Bradstreet reveals a UK business community that believes it has already lost out due to the EU referendum. When asked how the Brexit process has affected business finances, 43% of business leaders say they have felt a negative financial impact since the Brexit vote. More than a third…
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The Federation of Small Businesses (FSB) is calling on the Government to accept a raft of public procurement reforms that will promote supply chain best-practice and unlock the potential of the UK’s 5.7 million small businesses. Data from the latest FSB report, ‘Chain Reaction: Improving the supply chain experience for smaller firms’, shows that 25%…
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The Number of new loans to SMEs has increased in Quarter 1 according to new figures from UK Finance Commenting on the data, Stephen Pegge, Managing Director, Commercial at UK Finance said “The number of new approved loans to SMEs grew slightly in the first quarter of the year, driven in part by increased demand…
Read moreHampshire Trust Bank has announced that Alex Upton is to join the bank at the beginning of July as Sales Director, Specialist Mortgages. Upton will be working closely with Matthew Wyles, the Bank’s recently appointed Chief Executive in shaping the bank’s push into specialist lending. Matthew Wyles said: “I’ve worked with Alex since 2013 and…
Read moreMarketInvoice has announced that it has appointed Rija Javed as its Chief Technology Officer (CTO). Javed joins from Wealthfront, a leading Silicon Valley based start-up. Javed becomes one of the first female CTOs at a fintech in the UK, breaking another glass ceiling for women in finance. In the role, she will be responsible for…
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