Small businesses are increasing their financial resilience in the face of increasing costs based on the latest analysis of personal guarantee backed loan applications by Purbeck Insurance Services – the UK’s only provider of personal guarantee insurance. Key Facts Demand for Personal Guarantee Insurance (PGI) for small business loans jumps 45% in 2024 vs 2023 Average personal […]
Leading enterprise organisations are calling for a move away from ‘a merry go round’ of changes to policy and funding ‘ to consistent, professional business guidance provided UK-wide with local on-the-ground delivery. The National Enterprise Network, the country’s leading provider of community-based business support for micros and start-ups, is calling on the government to listen […]
A new annual business tracker has revealed that SMEs in Scotland are feeling confident about their future, with almost three-quarters (74%) expressing confidence in their prospects in the next year. Business Baseline – which surveyed more than 610 SMEs, entrepreneurs and business owners across Scotland – also found that while over half of respondents (60%) […]
Tom Renwick, head of business banking, Atom bank:“2024 has undeniably been a challenging year, but there are reasons for optimism about the state of 2025 and beyond for the commercial real estate (CRE) market. The economy looks to be on sound footing, with inflation under control, the expectation of interest rate cuts to come and […]
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. […]
