UK car production fell -27.3% in January to 86,052 units, according to the latest figures issued today by the Society of Motor Manufacturers and Traders (SMMT). With a fall of 32,262, this was the worst January performance since 2009, and a 17th consecutive month of decline. Multiple factors, including the ongoing effects of the pandemic, global supply […]
Almost 29,500 Bounce Back Loans have been approved over the past month, bringing the total number of small enterprises to access the scheme to over 1.5 million since it launched in May last year. More than £45.5bn has now been lent through this scheme. These totals include businesses which have opted to ‘top-up’ their Bounce […]
BCR publishes progress updates on Public Commitments from Pool A, B, C and D Capability and Innovation Fund recipients and sets out details for Pool F The Board of Banking Competition Remedies Ltd (BCR) today publishes progress updates for Pool A, B, C and D recipients, providing a summary of performance against their public commitments […]
West Midlands tech start-ups are being urged to apply for one of 10 places on a business accelerator programme to take their company to the next level. Not-for-profit tech hub and think tank, Birmingham Tech, has partnered with West Midlands Combined Authority (WMCA) to create ScaleUp Accelerator to help local businesses with high-growth potential, and […]
The latest Lloyds Bank Business Barometer shows: Overall business confidence increased by nine percentage points to 2%, the first positive net balance since the start of the pandemic and the highest level recorded since March 2020. Although confidence remains below pre-Covid levels, the improvement in sentiment was led by a rise in firms’ own trading […]
Marine and Towage Services Group Ltd (MTS), has secured a £5m refinance package through leading alternative finance provider for mid-sized SMEs, ThinCats. With a history dating back to 1924, MTS is now one of the UK’s leading providers of services to the marine sector providing coastal and ocean towage services and support for the marine […]
XUM is one of the leading wholesale memory ram sellers in the UK. The business sources IC-chips from recycling centres and refurbishes them for use in computing and gaming products. Set up in 2012, the business can take any component that has gigabytes, for instance routers, televisions, and computers, and recycle them into new electronic […]
Suros Capital, which lends against luxury assets, is seeing a growing trend for enquiries from brokers whose clients wish to borrow using classic cars as security against short-term financing needs. Loan requests backed by the security of a classic or luxury car now represent up to 30% of enquiries for borrowings of above £50,000. A […]
Global expenses app, ExpenseOnDemand, has seen a huge increase in the demand for its ‘Pay as You Use’ model as businesses leaders and finance directors are sourcing solutions that allow their businesses to automate process whilst being able to adapt to the ‘new normal’ and ever changing Covid-19 business landscape. As businesses look to the […]
Today the British Business Bank publishes Future Fund data that gives a detailed picture of the 1,140 companies that have been approved for £1.12bn (£1,124.3m) worth of Convertible Loan Agreements since the scheme was launched on 20 May. There have been 1,846 applications in total since the launch and the scheme closed to new applications […]
29/01/2021
Edition 290 – January/February 2021
It’s the economy By Business Money group editor Robert Lefroy The Long Haul 2...
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