Payment holidays and time to pay, while easing the current cashflow burden, may simply delay the collapse of thousands of businesses once the money has to be repaid, a leading business organisation has warned. Without professional credit management support, and a key focus on collecting money that’s already owed, businesses will still struggle to survive […]
As the impact of the Covid-19 pandemic on towns and cities across the UK intensifies, the need to link business support to community need in the right place, at the right time and at the right scale has never been more urgent. Business in the Community – The Prince’s Responsible Business Network with over 750 […]
A second-generation cleaning company is benefitting from a five-figure Coronavirus Business Interruption Loan (CBIL) from Lloyds Bank. Class Cleaning of Louth, based in the Lincolnshire town, was founded in 2005 and offers a range of domestic and commercial cleaning services. The business has had to temporarily cease trading in the face of COVID-19, with a […]
Research shows that almost 50% of UK businesses are expecting harder times in 2020. A study was conducted on businesses of varied sizes, with 250 executives, who believed that the UK economy is going to contract in the coming year. Brexit and the eco-political uncertainty it has stirred was most commonly cited as the expected […]
Aldermore, the specialist bank, today confirms it is now offering the asset finance variant of the British Business Bank’s Coronavirus Business Interruption Loan Scheme (CBILS), having been an accredited lender under the former Enterprise Finance Guarantee scheme. CBILS provides Aldermore and other accredited lenders with a government-backed guarantee potentially enabling Aldermore to provide asset finance […]
Leading audit, tax and consulting firm RSM says that whilst a spike in corporate insolvencies as great or greater than the levels last seen in 2008 is almost inevitable, the current numbers being mooted represent a major exaggeration. RSM believes there will be an initial flurry of insolvencies, as was seen in 2008, for those […]
An Essex-based trade and services company which specialises in trade between the UK and Africa has expanded its services in response to the coronavirus outbreak to protect companies exporting and importing between the two. Bolaji Sofoluwe, managing director of Colchester-based ETK Group which is the lead consultancy for African market entry and African business growth, […]
Responding to reports of disparate approaches taken by the banks to recruitment firms looking to apply for finance via the Coronavirus Business Interruption Loan, Ann Swain, the chief executive of the Association of Professional Staffing Companies has written to Keith Morgan the chief executive of The British Business Bank expressing major concerns. The letter has […]
A survey carried out by 3Gem for Amaiz, the new banking app, has revealed that just over 30% of micro-businesses don’t have a separate business bank account. These businesses risk muddling business and personal expenditure and breaking tax rules. The survey also found that 44% of micro-businesses are usually spending at least 3 hours a […]
PeoplePerHour, the UK’s largest freelance marketplace, has been focused on helping support small businesses and self-employed freelancers for the last 12 years and in this time of crisis are now going further by pledging £10m to help this community. With the aim of helping both small businesses and freelancers maintain continuity and prevent loss of […]
