Access to finance is becoming a critical issue for UK small businesses, with new research finding that more than half (53%) would have to put their plans on hold if they were unable to secure finance. The study by Novuna Business Finance underscores the importance of access to finance for the small business sector at […]
More than eight in ten small-to-medium enterprises (SMEs) in financial services have been identified with “concerning” skills shortages in project management, putting at risk the delivery of future projects, a survey by the Association for Project Management (APM), the chartered membership organisation for the project profession, has found. APM polled over 500 project professionals working […]
Bad debts and payment disputes are a top cause of business insolvency, according to Purbeck Insurance Services, which has analysed personal guarantee insurance claims from small business directors, following insolvency. Failed acquisitions and not being close to business financials due to an over-reliance on accountants, were also major causes of business failure in the past […]
Further to the announcement on 7 March 2024, Funding Circle today announces it has entered into an agreement for the sale of Funding Circle’s US business to iBusiness Funding, LLC (IBF). The transaction will be for a total cash consideration of £33m, for the US business including all loan portfolios, which includes a £10m gain, […]
Atom bank, the UK’s first app-based bank, has passed £1bn in commercial mortgage completions. It marks a significant milestone for the digital lender, who has been a consistent champion of UK SMEs since launch in 2016. The news comes with Atom bank having last week announced its strongest ever financial results. Operating profit grew to […]
Specialist commercial finance provider Reparo Finance has launched a new revolving credit facility to support SMEs with cashflow to fund growth. It plugs a gap in the market for flexible access to £25k-£75k over the course of a financial year. Reparo’s commercial director, Steve Richardson, explains: “We know it’s not easy running a business in […]
With the latest figures unveiling a promising 15% surge in successful business loan applications for SMEs in the first quarter of 2024, experts warn of the mistakes to avoid for the best chance of being accepted. The uplift comes as a much-needed relief to SMEs, with data from the British Business Bank showing the number […]
Data produced by Beauhurst uses several key metrics to analyse business growth in every local authority in the UK between May 2023 and 2024. These metrics are used to give each council a ‘Business Growth Score’, from which Beauhurst has been able to rank every council in the UK by their business growth. By undertaking […]
Ahead of the upcoming general election, over half (52%) of SME owners do not feel informed on the different political parties’ policies and their potential impact on small businesses, according to new data by online accounting provider FreeAgent. The survey delves into small business owners’ thoughts on the UK’s economic performance as well as perceptions around […]
As rampant inflation finally eases, the UK could be on the brink of a potential SME boom with business owners and leaders ready to invest an estimated total of £2.4tn over the next two years, if they can overcome the funding challenges that are currently holding them back. Research from the UK’s largest specialist lender, […]
