There has been a six-month peak in the percentage of small businesses that need to secure funding or finance to move forward with their growth plans for early 2025 to 57%, up from 53% in spring 2024 according to new research by Novuna Business Finance. Following small business concerns over the hike in employer’s National…
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New figures released by the Finance & Leasing Association (FLA) show that total asset finance new business (primarily leasing and hire purchase) fell in November 2024 by 4% compared with the same month in 2023. In the eleven months to November 2024, new business was 3% higher than in the same period in 2023. The…
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The UK economy is facing increasing risks of stagflation, according to analysis by the ICAEW. UK business confidence fell by the largest amount in two years to hover just above zero, amid record tax concerns and a slowdown in domestic sales growth. The ICAEW’s Business Confidence Monitor (BCM) for Q4 2024 fell by 14.2 points…
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Debt recovery and outsourcing agency, Controlaccount has announced the appointment of Neil Jinks, a key figure in the credit management industry, as its Brand Ambassador. Controlaccount says that this strategic partnership marks a significant milestone in the company’s mission to raise awareness of their values of integrity and professionalism, as well as extend its reach…
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UK inflation fell in December for the first time in three months as hotel prices fell and tobacco costs eased according to latest ONS data.Annualised inflation came in at 2.5% in December, down from the 2.6% reported in November. Menawhile, core inflation came in at 3.2% in the 12 months to December 2024, down from…
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Business confidence among finance chiefs has reached a two-year low with Chief Financial Officers (CFOs) expecting to make cost cutting measures in 2025 according to research by Deloitte. The data shows that business optimism fell to a two-year low in the fourth quarter with 26% of CFOs reporting that they feel more pessimistic about the…
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The Federation of Small Businesses (FSB) has urged the UK’s key regulators to help deliver economic growth. The FSB has written to the Financial Conduct Authority, Finance Reporting Council, Ofgem, Ofwat, Ofcom, Competition and Markets Authority and Information Commissioner’s Office. This follows requests from the Prime Minister, the Chancellor of the Exchequer and the Business…
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A man from South London has been sentenced to five years in prison for impersonating banks and stealing £988,719 from banking customers. The sentencing follows an investigation and arrest by specialist banking industry sponsored police unit, the Dedicated Card and Payment Crime Unit (DCPCU). Between 2021 and 2024, Adam Raja, defrauded banking customers by impersonating…
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Law firm Flint Bishop has announced three senior leadership appointments within its Debt Services division. Andrew Mitchell joins as Head of Operations, bringing over 25 years of experience in debt management within the utilities industry. Most recently, Mitchell served as Strategic Review & Debt Lead at E.ON UK, where his strategic foresight and process innovations…
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New research by Purbeck Insurance has found that the average personal guarantee-backed loan rose 9% to £174,000 in Quarter 4 (Q4) in 2024. In the final quarter of 2024, there was a 25% increase in small businesses applying for personal guarantee backed business loans compared to the same quarter of 2023. Indeed, for the whole…
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Secure Trust Bank Commercial Finance the asset-based lending (ABL) arm of Secure Trust Bank, has announced the promotion of James Hodkinson to Managing Director (MD) following the retirement of John Bevan. Hodkinson began his career at the Royal Bank of Scotland, where he undertook a variety of leadership and strategy roles within the invoice finance…
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A key figure in a scheme designed to undermine the insolvency system has been banned as a company director for nine years. Neville Taylor was paid more than a quarter of a million pounds by Atherton Corporate (UK) Ltd to become the sole director of more than 400 companies. Taylor’s disqualification means he will have…
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2025 will be the most expensive on record for businesses who employ workers on the minimum wage, according to new analysis by the Centre for Policy Studies. The research shows that the tax wedge – the combined amount of tax paid by employees and employers – for those on minimum wage will equate to a…
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