Keith Morgan, chief executive, British Business Bank, said: “At Budget 2020, the chancellor has announced new measures relating to the British Business Bank. Together they represent a significant package of funding that further underlines the critical role of the Bank in making finance markets work better for smaller businesses across the UK, allowing them to […]
Rangewell, the business finance specialists have updated their rolling ‘Lender Pulse’ report: Lender Pulse is a multi-week insight into the modus operandi of business financiers who are the lifeblood of British SMEs. Rangewell believes that business lending is the ‘canary test’ for the UK economy and hope this report will help track the ongoing economic effects […]
The Chartered Institute of Credit Management (CICM) has confirmed it has transferred the hosting and administration of the Prompt Payment Code to the small business commissioner’s office in line with the government’s stated ambition to bring all late payment initiatives under a single umbrella. Since its launch in 2008, the Code has played an important […]
Receivables finance is an important tool that can help to close the $90bn funding gap faced by small and medium-sized enterprises (SMEs) in Africa, Dr. Patrick Njoroge, governor of Central Bank of Kenya, has said. Dr. Njoroge was speaking in Nairobi on 27 February during the opening of a two-day Regional Conference on factoring and […]
Over two-thirds of UK SMEs (69%) have reported significant pressures on their cash levels according to latest insights from business lender MarketFinance. This is in large part down to businesses paying for supplies earlier than anticipated because of Coronavirus-related stockpiling and fears of deeper disruptions to transport (road, air and rail) linkages. Additionally, on orders […]
With International Women’s Day having been observed yesterday, female entrepreneurs are being celebrated worldwide. The government also announced a timely new fund, worth £3m, to support visionary women who are starting their own businesses in scientific fields and seeking innovative solutions for climate change, energy efficiency and health issues specifically. This new fund is a […]
Shawbrook Bank has started 2020 by re-shaping its approach to working with commercial finance introducers in the asset finance market. Appointing Glen Christie-MacAllan to the role of director of intermediary business, Shawbrook is shifting its focus towards closer partnerships with selected introducers as it seeks to respond to changes and direct feedback from the wider […]
Hundreds of thousands of British SMEs have been turned down for property finance in the past five years, a new study has revealed. Nearly a quarter of small and medium-sized companies said they had struggled to find the funds to move or expand – with inflexible lenders and a shortage of suitable property proving the […]
One of Australia’s leading funders of SMEs has warned that small businesses might face unintended consequences from the efforts to shut unfair supply chain finance programmes. After recent media attention and pressure from the office of the Australian Small Business and Family Enterprise Ombudsman, some of Australia’s largest companies are moving away from their early […]
Lloyds Banking Group has today announced that it has allocated up to £2bn of arrangement fee free finance assigned to specifically support Britain’s small and medium sized enterprises (SMEs) to ensure that they have access to additional finance to overcome any impact COVID-19 causes to their cashflow. Relationship managers from Lloyds Banking Group speak to […]
