UK commercial vehicle (CV) production grew by 92.9% in August, with 6,132 new vans, buses, trucks, coaches and taxis leaving British factories, according to the latest figures released today by the Society of Motor Manufacturers and Traders (SMMT). Production volumes almost doubled compared with the same month last year, when production lines and semiconductor supplies […]
Time Finance, the AIM-listed alternative finance specialist to UK SMEs, is pleased to announce its financial year end results to 31 May 2022, with 10,000 UK business owners supported with over £137m of funding throughout the year. UK businesses and their financial intermediaries benefit from a broad portfolio of financial solutions, comprising: asset finance, invoice […]
UK car manufacturing output rose for the fourth consecutive month in August, up 34.0% year on year to 49,901 units, according to the latest figures published today by the Society of Motor Manufacturers and Traders (SMMT). The performance was, however, -45.9% below August 2019’s pre-pandemic level of 92,158 units, underlining the scale of recovery still needed. The rise, […]
Channel Digital Holdings (Channel) has announced a global strategic partnership with AdviceRobo to accelerate the use of Artificial Intelligence (AI) within its decision-making engine to support the capital needs of SMEs. Channel operates a UK-based asset manager, authorised and regulated by the FCA. Over the past 15 years, it has managed more than $20 billion of credit […]
SME fintech lender Allica has reached profitability in close to record time according to CEO Richard Davies, who has announced the bank has been profitable on a monthly basis for each of the last three months. The bank only opened its door to lending in March 2020, but has already lent over £1bn to mid-sized […]
Widening skills gaps in business banking could trigger an exodus of employees over the next few years as demand increases for digital and data skills, according to a major new report from leading tech startup Multiverse. Nearly three quarters of business bankers (73%) said colleagues without advanced digital and data skills were at risk of […]
Tide, the leading digital business banking platform, has today announced it is to launch Tide Pro Plan, an upgraded account designed to help Tide members scale their business. The product is available now. The paid membership plan will give small businesses unlimited free transfers, priority servicing, via phone and in the Tide app, as well […]
Europe’s leading open banking platform Tink is urging lenders to prioritise upgrading creditworthiness assessment models to ensure more accurate lending decisions. Traditional lending models are broken, and against a backdrop of the cost-of-living crisis, a blinkered view of income and expenses is no longer fit for purpose. As the economic crisis worsens, better decisions on […]
Research from Novuna Business Finance from the quarterly tracking study of 1,201 small business leaders found that while 34% of small businesses predict growth in the coming three months, 70% are making plans to grow. This proportion has increased from 67% at the start of the year (Q1’22). Of these businesses, costs and cashflow have […]
Mortgage criteria search system Knowledge Bank is debuting its Criteria Clinics in front of a live audience at the 2022 Finance Professional Show. On 10th November at Olympia London, Knowledge Bank founder and CEO Nicola Firth will host a series of interactive sessions that aim to engage both experienced and new-to-market brokers, IFAs and introducers […]
