The bank of mum and dad has a huge part to play in funding many UK startups, with 20% of businesses funded by inheritance and a further 19% by parents, according to new research from wealth manager Charles Stanley. The research, which sheds light on how business owners are funding and starting their businesses, indicates […]
Updated research into the business savings market by Allica Bank has revealed that the UK’s small firms are now being short-changed by up to £9bn a year by the UK’s broken business savings market – a massive 20% increase in the past year since Allica’s first research into the market The significant increase in lost […]
The government has unveiled new measures today to support small businesses and the self-employed by tackling the scourge of late payments, which according to the Smart Data Foundry is costing small businesses £22,000 a year on average and leads to 50,000 business closures a year according to Intuit QuickBooks, The government will consult on tough […]
Two vital tax efficient schemes for UK start-ups have been extended for ten more years, which may take the sting out of potential Capital Gains Tax (CGT) rises in the Budget, say leading audit, tax and business advisory firm, Blick Rothenberg. Simon Gleeson, a Partner at the firm, said: “The announcement that the Enterprise Investment […]
A new global survey of 79,000 businesses conducted by the Peninsula Group, parent company of BrightHR, has found that although small business owners are optimistic about the potential of AI, with 1 in 3 believing it has the potential to positively transform the workplace, only 1 in 10 are regularly using it. The results suggest […]
Swoop Funding, the leading financial platform that streamlines access to business funding, is proud to announce its new partnership with Compare the Market, one of the UK’s leading comparison websites. This collaboration aims to provide UK small and medium-sized enterprises (SMEs) with even greater access to the diverse range of funding products to help them […]
The Bank of England’s Prudential Regulation Authority (PRA) has today announced a package of proposals as part of the Basel 3.1 implementation process. The SME Supporting Factor, which allowed banks to hold a lower rate of capital to counterbalance loans to small and medium-sized enterprises, is to be removed, but the PRA will in its […]
As part of the Basel 3.1 reforms announced today, the PRA (Prudential Regulation Authority) has signalled it intends to limit the effects of withdrawing the SME supporting factor by introducing a ‘lending adjustment’ to avoid the risk of lenders increasing SMEs’ borrowing costs once the Basel 3.1 reforms are introduced in January 2026. RSM UK […]
Starpeak, the specialist digital distributor of insurance to niche online markets, has partnered with commercial insurer Peach Pi, to co-create specialist insurance products designed specifically for the micro and SME market. The collaboration between Peach Pi and Starpeak highlights the synergies between the two niche businesses. Both organisations understand that the needs of business owners […]
The Lending Standards Board (LSB) has strengthened provisions on personal guarantees within the Standards of Lending Practice for business customers (‘the business Standards’). The changes will help ensure lenders are clear with guarantors about what they are signing up to, and help avoid situations where a guarantor is surprised to find out they are personally […]
