Credit, Collections & Insolvency News
The British Business Bank, the UK’s national economic development bank, has published The Benefits of Diverse Finance Markets for Smaller Businesses, a report that provides a fresh analysis of the need for greater choice for the UK’s smaller businesses looking for finance to grow. The report explains why and how the Bank works to help increase…
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New research has found that 65% of businesses embrace fintech. Business finance company MarketInvoice surveyed UK businesses on their awareness and adoption of fintech (financial technology) products and services. 77% of UK businesses are aware of fintech products and services and two-thirds (65%) have adopted at least one fintech application, with a fifth (19%) taking…
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Businesses trading in the Americas have been warned about potential payment delays in a new report by trade credit insurer Atradius. The Atradius Payment Practices Barometer is an annual research report into the payment behaviours of global businesses and was prepared ahead of the recent natural disasters that have severely impacted parts of the region.…
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European Fintech event LendIt Europe has announced the finalists for its 2017 PitchIt competition. LendIt’s PitchIt competition this year hosted and co-organized by Startupbootcamp FinTech, sees the very best of Europe’s fintech startups going head to head to compete in front of some of the biggest VCs in technology. The LendIt event will be taking…
Read moreLendInvest has appointed Ian Boden as Sales Director. Boden joins LendInvest with over 35 years’ experience in financial services, specialising in buy-to-let and commercial mortgages. During his career, Ian has held a variety of roles from wealth management and customer relationship management to senior management positions. Most recently, Boden was head of commercial mortgages and…
Read moreThe latest SME finance monitor report has showed that 8 out of 10 SMEs are refusing to apply for new finance as a result of Brexit uncertainty. Angus Dent, CEO of Peer to Peer lending platform ArchOver, on why that is the wrong approach for businesses and why a strong UK economy needs companies to…
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Alternative business funding provider, ThinCats, has recruited an Origination Manager for Scotland. Geoff O’Brien will be the key contact for Scotland, leading all new business origination across the region. O’Brien has significant, relevant experience for the position, through his Director level roles at the likes of Santander and Clydesdale Bank, specialising in Business Development, supporting…
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New figures released by the Finance & Leasing Association (FLA) show that asset finance new business (primarily leasing and hire purchase) for deals of up to £20 million grew by 6% in July, compared with the same month last year. Including high-value deals, new business fell by 1% over the same period. The plant and…
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Businesses may need to take a greater ‘leap of faith’ and invest for the future despite the current uncertainty. In the ICAEW’s latest Economic Forecast, it predicts GDP growth of 1.6% in both 2017 and 2018, 0.8% slower than the average for the past three years. Despite the lack of certainty on Brexit, the economic…
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2016 showed a continued decline of 6% in the number of company insolvencies in the Central and Eastern European (CEEE) region, following a fall of 14% in 2015 according to new reseach by Coface. In all, over the course of last year, six entities per 1,000 became insolvent. This improvement was in line with the…
Read moreBNP Paribas Leasing Solutions has appointed Morgan Vessier as new Head of Risk. Vessier, who joined the BNP Paribas Group in 2005, has worked across several key business units, including BNP Paribas Personal Finance, where he served as the Head of Center for Scoring, and the Turkish Economic Bank (TEB), where he acted as Director…
Read moreShire Leasing has announced that it has surpassed £100 million in own book lending. The news comes only 5 months after it secured a further £37.4m facility under the government-backed British Business Bank’s ENABLE Funding programme, in place to help it increase funding to smaller businesses. Mark Picken, Shire’s Managing Director, said “The £100 million figure is…
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The Bank of England latest statistics showed a £200 million decrease in loans to smaller businesses during July. Mike Cherry, Federation of Small Businesses (FSB) National Chairman, said “Small businesses appetite for new finance is waning against a backdrop of unprecedented uncertainty, anaemic domestic growth and inflationary pressure weighing on consumer demand. Investment intentions are not where they should be…
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