Latest research by the British Retail Consortium (BRC) has shown that high inflation is weighing on consumer confidence. The data showed that state of the economy worsened to -36 in September, down from -32 in August with the personal financial situation worsened to -7 in September, down from -6 in August. Personal spending on retail rose…
Read more
WeDo Business Finance has announced that it has appointed Aman Gill as Head of Credit Risk and Underwriting. Gill has worked in financial services for nearly 20 years and has joined from Bibby Financial Services, where he was responsible for structuring and underwriting asset-based lending facilities as head of trade services and corporate underwriter. Kelly…
Read more
A tour operator has been jailed after securing two maximum-value £50,000 Covid Bounce Back Loans when businesses were only entitled to one. Raja Imtiaz fraudulently applied for a second Bounce Back Loan on behalf of Al Fayroz Travel & Tourism Limited in the summer of 2020, just two weeks after securing another £50,000 loan for…
Read more
A former Director General of the Institute of Directors, who was nominated for a prestigious businesswoman of the year award has been disqualified as a company director for Covid loan abuse. Anna Daroy served as interim Chief Operating Officer and later as interim Director General of the Institute of Directors from October 2018 to November…
Read more
The Bank of England Monetary Policy Committee (MPC) has voted to hold interest rates at 4.0%. The MPC voted 7 to 2 in favour of the hold, with two dissenting member preferring to cut rates by 0.25% to 3.75%. Commenting on the MPC’s decision not to change the Bank Rate from 4.00%, George Lagarias, Chief Economist at…
Read more
Latest Office for National Statistics (ONS) data has shown that inflation held at 3.8 per cent in the year to August. Core Inflation came in at 3.6% in the 12 months to August, down from the 3.8% in July and in line with forecasts. Commenting on today’s inflation figures for August, ONS Chief Economist Grant Fitzner…
Read more
New data from Millbrook Business Finance has found that four in ten (35%) said access to affordable finance is one of their biggest challenges. The survey data asked SMEs what the single biggest challenge facing their business right now, with 14% highlighting rising operational costs, whilst 14% noted economic uncertainty, and 13% cited late payments. A…
Read more
The owner of a scaffolding company who fraudulently obtained £100,000 in Covid loan funds has been ordered to repay the money in full, with interest of more than £15,000. Mark Degnan, repaid £55,608 before appearing at Leeds Crown Court on Monday 15 September where he was ordered to repay the remaining £59,578 within six months.…
Read more
New analysis by the British Retail Consortium (BRC) shows that 400 large-format stores are at risk of closure, if they are included in the Government’s new business rates surtax on premises with a rateable value over £500,000. The retail industry accounts for 5% of the economy yet pays over 20% of all business rates bills.…
Read more
Latest ONS data has shown that GDP showed no growth in July 2025, following growth of 0.4% in June Real GDP grew by 0.2% in the three months to July 2025 compared with the three months to April 2025, down from three-month-on-three-month growths of 0.3% in June 2025 and 0.6% in May 2025. Services output…
Read more
A fraudster has been jailed after illegally securing three Bounce Back Loans and using the funds to buy and ship goods to Ghana for resale. Eric Agyeman obtained £130,000 in three Bounce Back Loans for DOK Logistics UK Ltd when businesses were only entitled to a single loan under the scheme. Agyeman invented turnover figures…
Read more
New research by Capital on Tap has found that 46% of business owners don’t have a business credit card, with 54% of consumers actively avoiding them For business owners, cash flow management is the main purpose of a credit card, with 80% highlighting this as their reason for use. Employee-related expenses such as payroll and…
Read more
Aldermore Group has announced that Steven Cooper is stepping down as Chief Executive Officer (CEO). Cooper, who joined Aldermore in May 2021, has decided to leave for a new opportunity outside the banking industry where he has built a 20-year career. In his four and a half years with Aldermore. Raj Makanjee will step into…
Read more