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…
Read moreSupply 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…
Read moreNew data from Time Finance reveals peace of mind, flexibility and supporting cashflow to be the top three benefits of having an Invoice Finance facility, according to UK business owners. As well as this, 42% of UK business owners told Time Finance that Invoice Finance gives them more financial freedom, whilst one in four said…
Read moreEmbedded business finance platform, Liberis has announced that it has entered into a partnership with Barclaycard to offer their small business customers access to personalised revenue-based finance. The news follows Barclays’ investment of £34.5 million in Liberis agreed in Q4 2021. The finance will in part help Liberis to further develop its API driven embedded finance platform,…
Read moreThe Insolvency Service has announced a ban for consultancy Director who abused Covid-19 financial support scheme. Richard Milne, from Kingston-upon-Thames was Director of Langshot Ltd, a small consultancy incorporated in 2016. He applied for a £30,000 Bounce Back Loan on behalf of the company in May 2020 despite the company accounts showing annual turnover of…
Read moreThe May 2022 Directors’ Economic Confidence Index, which measures business leader optimism in prospects for the UK economy, slid to its lowest level since October 2020 of -45, down from -36 in April. Of those that said they were pessimistic about the prospects for the UK economy, the overwhelmingly most frequent reason given for this…
Read moreBusinesses are paying their suppliers even later, despite admitting that they have a responsibility to smaller firms, according to early findings from Intrum’s 2022 European Payment Report. The annual report by credit management services company Intrum surveyed more than 11,000 businesses in 29 countries. It found the business landscape under pressure from new uncertainty, while…
Read moreBusinesses are increasingly confident that they can use high inflation to rebuild their margins, the monthly barometer by Lloyds Bank has found. Confidence among firms has risen by five points on the index to reach 38%, significantly higher than the long-term average of 28%. This marks the first increase since Russia launched its invasion of…
Read moreThree-quarters of SMEs are worried about the long-term impact the cost of living crisis, soaring energy bills and rising inflation. Barclays’ SME Barometer, a quarterly survey of business sentiment, saw 51% say they were concerned that surging prices would dent consumer spending, while more than a quarter said they feared that having to increase their…
Read moreAccording to a global survey by PwC, fraudsters have targeted two-thirds of British companies in the past two years, with cyberattacks the most common crime. In Britain, 64% of big corporations had been affected by fraud and other economic crimes over the period, 10% up on two years ago and significantly above the global average,…
Read moreBusiness confidence in the UK fell for a third quarter in a row, amid concerns on the tightening of the economy and rising inflation, according to latest survey results by the ICAEW. Sentiment tracked by ICAEW’s Business Confidence Monitor™ (BCM) for Q2 2022 put confidence at 18.6 on the quarterly index, down from its peak…
Read moreSmall businesses had to wait an average of 29.9 days to be paid in April according to the latest figures from Xero. Average late payment days increased by 1.8 days to 7.7 days. This is the longest small businesses have had to wait to be paid since September 2020. Xero says tougher economic conditions caused…
Read moreDelayed payments and insolvencies are predicted to rise in the consumer durables retail sector this year, reveals leading trade credit insurer Atradius. In its latest Industry Trends report on the retail sector, Atradius emphasises the importance of maintaining close working relationships with retailers, and acquiring real-time insight, as the key to navigating the next six months. Increasing…
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