Promarine Finance Ltd (Promarine), a specialist in marine mortgages, has secured a £30m revolving facility from Secure Trust Bank Commercial Finance (STB CF) to support its continued growth. Founded in 2010 by Stuart Austin, Promarine is an FCA regulated provider of marine mortgages, facilitating the purchase of new and used leisure vessels. Since then, Promarine […]
Businesses will face a growing compliance risk when new National Minimum Wage (NMW) rates come into force in April, accountancy and business advisory firm BDO has warned. According to the latest BDO survey, 98% of mid-market businesses said that that the proportion of their staff earning within £2 per hour of the National Minimum Wage […]
According to the latest report by the ONS there were 2.88m jobs in retail in December 2024.This is traditionally the high point of the year, with retailers employing more people during the key Christmas quarter. The four-quarter average was 2.84m jobs, 70,000 fewer than at the same point last year, and 249,000 fewer than five […]
The British Business Bank today announces it has made a cornerstone commitment of up to £50m to Elbow Beach’s Climate Impact Fund 2 through its Enterprise Capital Funds programme. The Fund, which has already secured commitments for £63m of capital, will back startups across the UK pioneering technology solutions to big industry problems, at the […]
United Trust Bank (UTB) has launched its new Easy Access account for personal, business and charity customers, the first time the Bank has offered a deposit account with the ability to add and withdraw funds at any time without restrictions. The Easy Access account is currently paying a competitive, variable interest rate of 3.75% Gross AER […]
One in five small businesses turn to credit cards to manage cashflow, highlighting a growing trend among entrepreneurs facing unpredictable income and rising expenses. While credit cards can offer flexibility and short-term relief, relying on them without a strategy can quickly spiral into high-interest debt and financial strain. The good news? Uswitch credit card experts […]
Five years since the first Covid 19 lockdown, data from Start Up Loans shows there has been a surge in aspiring entrepreneurs taking out finance to bring their businesses to life. In the five years since the start of the pandemic, there has been a 21% increase in the number of first loans delivered by […]
Novuna Business Finance announces that it is partnering with the British Business Bank to deliver a pilot of a green asset finance variant of the Bank’s successful Growth Guarantee Scheme. This new variant is designed to increase funding for smaller businesses to invest in green assets that facilitate the transition to a low-carbon economy. The […]
Online fashion brand In The Style has been rescued from administration following the successful sale of the business to Alps Sourcing Limited, saving 87 jobs in the UK. The pre pack sale of the company was negotiated by Marco Piacquadio and Alan Coleman of leading boutique insolvency firm FTS Recovery Limited, who were appointed as administrators […]
Inheritance tax receipts hit £7bn in the ten months from April 2024 to January 2025, according to figures released by HM Revenue and Customs. This is £700m higher than the same ten months last year and continues the upward trajectory over the last two decades. HMRC raised £7.499bn in 2023-4 tax year, but these figures […]
