Allica Bank has smashed through £3bn in lending and £4bn in deposits as the UK’s established SMEs flock to the challenger that promises to deliver ‘business banking how it used to be, just better’. Allica, which is the UK’s only full-service bank solely focused on established businesses, posted its first full year of profitability in […]
A review by the LSB (Lending Standards Board) of its registered firms’ application of the Standards of Lending Practice for business customers has identified 102 areas where action has been needed to bring firms into compliance with the Standards’ requirements. The LSB’s FCA-recognised Standards of Lending Practice for business customers are the only independent lending […]
A new report from Innovate UK showed that innovation boosted 2024 sales by 7% and cut costs for over half of businesses, but current increases in cost have halted many UK SMEs from innovating. To help, the lead generation experts Sopro analysed government data to reveal key innovation drivers, common types of innovation and share practical tips […]
Made Smarter Adoption North West, the trailblazing digital technology adoption programme, has secured an additional £230,000 to help more SME manufacturers access transformational technology. The allocation from the Department for Business and Trade (DBT) will fund at least 10 new companies to adopt technologies such as sensors, robotics and 3D printers to increase productivity, growth, […]
Smaller businesses backed by the government’s Start Up Loans programme have higher survival rates than other businesses, finds an independent evaluation, conducted by SQW working in partnership with Professor Mark Hart, Qa Research and The Data City. The programme also supports a significantly greater proportion of smaller businesses outside London and the South East, as […]
Responding to the Financial Conduct Authority (FCA)’s announcement on its investigation into personal guarantees (PGs), Martin McTague, national chair of the Federation of Small Businesses said: “The FCA’s investigation was severely undermined even before it got underway by the regulator’s decision not to look into loans to limited company directors, as we requested in our supercomplaint. […]
Sustainability is no longer a distant ideal for businesses—it’s a pressing priority and a transformative opportunity. In the face of environmental and economic challenges, a new report reveals how small businesses across the UK are embedding green practices into their operations. These businesses demonstrate how sustainability can drive innovation, strengthen communities, and ensure long-term success. […]
Against the backdrop of continued economic uncertainty, 106 new businesses were created every hour across Britain in the first half of 2024, according to research by iwoca – one of Europe’s largest SME lenders. Analysis of Companies House data reveals that over 459,000 businesses were registered in Britain between January and June 2024, an increase of 6% […]
The weather has taken a turn again! This festive season has been filled with relentless storms, after Storm Bert battered the UK, Storm Conall brought an arctic blast, and now Storm Darragh’s high winds look set to blow many small businesses off track this year. Around 70% of smaller markets were forced to close in […]
More than 8 in 10 (81%) UK small businesses are prioritising new initiatives to boost their overall growth prospects for 2025. Increasing new business sales (43%) and reducing fixed costs (24%) are priority areas business owners want to focus on – but there’s also evidence the recent changes to employers’ National Insurance could significantly impact […]
