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 […]
Leading business support body, the Forum of Private Business has joined the demand trending on social media for pubs forced to close as a result of the coronavirus crisis to be given rent holidays by the PubCo’s. The Forum wrote to all the main PubCo’s on the 16 March requesting that they play their part […]
In these times of unprecedented economic upheaval, small to medium size businesses – which are the backbone of the UK economy – are being urged to give themselves the maximum amount of financial protection by asking customers to pay their invoices by Direct Debit. Luisa Grey, a director at Eazipay Ltd, one of the UK’s […]
