Bank lending decreases as CBILS and BBLS end

Outstanding bank lending to small businesses in the hospitality sector has fallen by more than £1.4 billion since the end of the Coronavirus Business Interruption Loan Scheme (CBILS) and Bounce Back Loan Scheme (BBLS). Overall Bank lending dropped to £14.6bn in April 2022, down from £16.08bn in March 2021, according to analysis by Hazlewoods. There…

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Tight labour market shows signs of cooling the pandemic recovery

High inflation is causing real pay packets to shrink at their fastest rate in a decade, while the slowdown in growth may be causing the tight labour market to cool as unemployment ticks up, the Resolution Foundation said today (Tuesday) in response to the latest ONS labour market statistics. With CPI inflation hitting a 40-year…

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UK firms feeling the pressure

Data from PwC show the number of UK firms filing for insolvency in the first quarter was broadly similar to the same period in 2021. However, the analysts show that when the smallest firms and companies that were liquidated when solvent are stripped out, the figures show those filing while insolvent more than doubled in…

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Covid business loans saved hundreds of thousands of jobs

An official evaluation of the government-backed pandemic £78 billion loans schemes has found that they could have saved up to 2.9 million jobs. The research, commissioned by the British Business Bank, estimated that between 146,000 and 505,000 businesses that took out Bounce Back loans might have gone under without the support, up to a third…

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Shire Leasing and LendingMetrics agree partnership

15th June 2022 Commercial Credit Management |

LendingMetrics has announced a partnership with commercial lender Shire Leasing to implement their Auto Decision Platform (ADP). Shire Leasing had already been utilising automated underwriting since 2001 but found that moving from single track sales channels to multi-sales channels resulted in much more complexity in their decisioning. They needed constant IT involvement to achieve their…

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SME lending trends indicate gradual return to normal

UK Finance’s latest Business Finance Review has indicated a gradual return to normal lending trends across SMEs during the first quarter of 2022. The research found a modest uptick in demand for cashflow finance through overdrafts and invoice finance and asset-based lending – as a consequence of both the end of Covid-19 restrictions and the significant…

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British Business Bank appoints new CEO 

10th June 2022 Appointments | #appointments

The British Business Bank has appointed Louis Taylor as its new Chief Executive Officer. Taylor is currently CEO of UK Export Finance, the UK government’s export credit agency. Taylor joined UK Export Finance in 2015, enjoying a stellar career which saw the department provide its highest level of support for UK exporters in 30 years…

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Supply chain crisis costing SMEs £3.9bn

9th June 2022 Business Lending | #SME costs

New research from Aldermore has found that over half (54% or 2.1 million) of all UK small and medium-sized enterprises (SMEs) have been impacted by the ongoing supply chain crisis in the last 12 months. Persistent supply chain problems have continued to plague businesses, as a result of a number of factors including labour shortages,…

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Northern Irish businesses had 93,000 overdue invoices on their books in April

Businesses in Northern Ireland had more than 93,000 overdue invoices on their books in April according to new research by R3. The report found that while the north recorded strong start-up numbers in 2022, there are signs of trouble ahead. Analysis of the data from business intelligence provider Creditsafe, show almost 3,000 new businesses were…

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Creditsafe partners with Yolt in open banking partnership

Data-driven open banking provider, Yolt has agreed a partnership with business intelligence provider Creditsafe. The partnership will see Yolt’s recently launched Cashflow Analyser added to Creditsafe’s business information platform for business and credit professionals. Using Cashflow Analyser powered by open banking, Creditsafe will be able to instantly offer its clients access to a customer’s cash…

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Seven in ten small businesses predict significant growth in the next three-months

Seven in ten small businesses (70%) that predict significant growth in the next three-month say they will have to put plans on hold if they were unable to secure finance. Access to finance and borrowing is also urgently needed by small businesses most affected by COVID – those that either had to close or repurpose…

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One million SMEs denied access to finance last year

One in three UK-based small and medium-sized enterprises (SMEs) who sought access to finance were denied in the last year, according to new research from Yolt, Europe’s rapidly accelerating smart payments and data enrichment platform. This resulted in an estimated £3.7bn lost in potential funding for UK SME’s. The research found that in the last…

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Supply chain issues, energy costs and inflation threaten business growth

Supply chain issues, rising energy costs or record levels of inflation are three of the biggest threats facing more than half (58%) of businesses in the next six months, according to new research by accountancy and business advisory firm, BDO. The bi-monthly survey of 500 leaders of medium-sized businesses reveals almost a fifth (18%) of…

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