The UK government needs to extend the furlough scheme urgently and ensure that targeted support is available to those sectors who have been worst hit, according to Edward Winterton, UK CEO, Bibby Financial Services: “As the government’s furlough scheme begins to wind down, and businesses are asked to contribute to the salaries of staff making […]
A new law that was introduced during the height of the pandemic to provide ‘breathing space’ for companies that were struggling financially, has been made permanent and may have serious consequences for some organisations. According to Ian Timlin at Conexus Law, a specialist advisory firm that provides end to end legal services for clients in […]
Independent business lender White Oak has today announced it has completed a securitisation facility from Barclays Bank, with agreement from the British Business Bank that this can also be available to support White Oak’s lending to SMEs through the Coronavirus Business Interruption Loan Scheme (CBILS). The British Business Bank has, at the same time, increased […]
Online sales growth continued to slowly slide in August, falling against July by -4.1%. While overall sales remained strong – growth was up +43.5% year-on-year (YoY) – this result dipped below the rolling 3-month average of +49.95%. That’s according to the latest IMRG Capgemini Online Retail Index, which tracks the online sales performance of over […]
Bridging completions were £470m in Q2 2020, down 56% on Q4 2019, but applications rose slightly in the same period. This is according to the latest figures compiled by auditors from data provided by members of the Association of Short-Term Lenders (ASTL). The data shows that applications increased by just over 1% in Q2 2020, […]
One of Manchester’s most iconic music venues has secured its future with the support of a six-figure funding package from Lloyds Bank. Based in the Northern Quarter, Band on the Wall has a musical history spanning more than 200 years and has hosted performances from the likes of Joy Division and Buzzcocks. Alongside being a […]
With many businesses in the region still reeling from the impact of Covid-19 on their supply chains and their business, there’s another major wave coming on the horizon – Brexit. The government still plans to introduce import controls on EU goods at the border after the transition period ends on 31 December 2020. Production planning […]
Ravensworth Nurseries in Richmond, North Yorkshire is investing £1.1m in developing an upmarket retail garden centre to enhance its already successful plant nursery with funding from Reward Finance Group. Having been established for more than 50 years, the family-run business, which is the largest grower of Poinsettias in the North of England, has developed an […]
A new study, commissioned by business bank Allica Bank, urges small businesses to re-evaluate their trading horizons, following the establishment of a clear link between overseas trade and SME performance. The study analysed data from over 1,000 companies and ranked their success on a scale that evaluated factors including productivity, growth, consistency and outlook. In […]
As Brits brace themselves for a second wave of the coronavirus, the leading home delivery specialist ParcelHero says retailers and manufacturers are already facing a perfect storm. Footfall in retail parks, shopping centres and high streets was 70% down in the second quarter of 2020 compared to the same time last year – and the […]
