Brokers bridge finance gaps for SMEs with £38 billion in loans

Commercial finance brokers facilitated £38 billion in lending to small and medium-sized enterprises (SMEs) in 2023, as revealed in the latest membership survey findings from the National Association of Commercial Finance Brokers (NACFB).

Brokers bridge finance gaps for SMEs with £38 billion in loans

Feb 21, 2024

Commercial finance brokers facilitated £38 billion in lending to small and medium-sized enterprises (SMEs) in 2023, as revealed in the latest membership survey findings from the National Association of Commercial Finance Brokers (NACFB).

Rising costs tops the list of concerns for small businesses

Seven in ten (70%) SMEs are concerned about rising costs this year with nearly half (42%) stating they are ‘very concerned’ as inflation continues to erode companies bottom lines, new research from Shawbrook reveals. When asked what their main focal points will be over the next year, 46% agreed that managing rising costs would be a priority. Only 2% of respondents reported they are not concerned at all about rising costs.

Rising costs tops the list of concerns for small businesses

Feb 20, 2024

Seven in ten (70%) SMEs are concerned about rising costs this year with nearly half (42%) stating they are ‘very concerned’ as inflation continues to erode companies bottom lines, new research from Shawbrook reveals. When asked what their main focal points will be over the next year, 46% agreed that managing rising costs would be a priority. Only 2% of respondents reported they are not concerned at all about rising costs.

FLA publishes 2024 Manifesto

The Finance & Leasing Association (FLA) has today published its 2024 Manifesto. The Manifesto highlights the significant contribution made to the economy by FLA members in 2023, with member companies providing £151 billion of new finance to UK businesses, households and the public sector.

FLA publishes 2024 Manifesto

Feb 15, 2024

The Finance & Leasing Association (FLA) has today published its 2024 Manifesto. The Manifesto highlights the significant contribution made to the economy by FLA members in 2023, with member companies providing £151 billion of new finance to UK businesses, households and the public sector.

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Time Finance reaches new lending milestone with high of £188m

Following several months of sustained growth, alternative finance lender, Time Finance, has announced a record lending book of £188.6m for the six months ending November 2023, representing a 23% increase on the previous 12 months.

Time Finance reaches new lending milestone with high of £188m

Feb 07, 2024

Following several months of sustained growth, alternative finance lender, Time Finance, has announced a record lending book of £188.6m for the six months ending November 2023, representing a 23% increase on the previous 12 months.

SMEs believe apprentices are solution to UK’s skills gap crisis

Nine in 10 of the UK’s SMEs believe apprenticeships are at least partly the solution to the UK's skills gap crisis, with a further 68% of the view apprenticeships are a ‘valuable alternative to university’. Nearly half (47%) feel not enough is being done to encourage young people to consider apprenticeships.

SMEs believe apprentices are solution to UK’s skills gap crisis

Feb 06, 2024

Nine in 10 of the UK’s SMEs believe apprenticeships are at least partly the solution to the UK's skills gap crisis, with a further 68% of the view apprenticeships are a ‘valuable alternative to university’. Nearly half (47%) feel not enough is being done to encourage young people to consider apprenticeships.

Small business growth forecasts in agricultural sector hit three-year high

French farmers may be blockading Paris with protests, but UK small business growth outlook in the agricultural sector has hit a three-year high – with 39% of business owners predicting significant or organic growth for the next three months, a sharp rise on 26% last quarter. The new research from Novuna Business Finance forms part of its Business Barometer study, which has tracked small business growth forecasts every quarter for the last decade.

Small business growth forecasts in agricultural sector hit three-year high

Feb 06, 2024

French farmers may be blockading Paris with protests, but UK small business growth outlook in the agricultural sector has hit a three-year high – with 39% of business owners predicting significant or organic growth for the next three months, a sharp rise on 26% last quarter. The new research from Novuna Business Finance forms part of its Business Barometer study, which has tracked small business growth forecasts every quarter for the last decade.

Data Mail Solutions invests in new Canon Inkjet Colorstream, funded by Close Brothers Asset Finance

Close Brothers Asset Finance’s Print team has provided funding for long-term customer, Data Mail Solutions (DMS), to purchase a new state-of-the-art Canon Inkjet Colorstream as the firm looks to significantly boost its sales.

Data Mail Solutions invests in new Canon Inkjet Colorstream, funded by Close Brothers Asset Finance

Feb 05, 2024

Close Brothers Asset Finance’s Print team has provided funding for long-term customer, Data Mail Solutions (DMS), to purchase a new state-of-the-art Canon Inkjet Colorstream as the firm looks to significantly boost its sales.

WeDo launches asset finance division

WeDo Business Services group has unveiled the latest stage of its expansion strategy with a new venture providing established SMEs and start-ups with asset-based finance to fuel their growth plans. The new division, WeDo Asset Finance, is based out of the group’s headquarters in Oldham and is operating nationwide, with a goal of lending to more than 200 clients over the next 12 months.

WeDo launches asset finance division

Feb 01, 2024

WeDo Business Services group has unveiled the latest stage of its expansion strategy with a new venture providing established SMEs and start-ups with asset-based finance to fuel their growth plans. The new division, WeDo Asset Finance, is based out of the group’s headquarters in Oldham and is operating nationwide, with a goal of lending to more than 200 clients over the next 12 months.

Demand for personal guarantee backed SME finance rose by 68% in 2023

Over a third of the owners and directors of the UK’s small businesses had to take the big step of signing a personal guarantee to keep their businesses afloat in the final quarter of 2023, according to the latest Purbeck Personal Guarantee Insurance Monitor. 34% of PGI applications in Q4 2023 were for loans to provide working capital to the business - the highest level recorded for the whole of 2023.

Demand for personal guarantee backed SME finance rose by 68% in 2023

Jan 31, 2024

Over a third of the owners and directors of the UK’s small businesses had to take the big step of signing a personal guarantee to keep their businesses afloat in the final quarter of 2023, according to the latest Purbeck Personal Guarantee Insurance Monitor. 34% of PGI applications in Q4 2023 were for loans to provide working capital to the business - the highest level recorded for the whole of 2023.

CSI Leasing open subsidiaries in Hungary and Austria

CSI Leasing, Inc. (CSI) has established two new subsidiaries in Europe – CSI Leasing Hungary Kft. in Budapest and CSI Leasing Austria GmbH in Vienna. The new entities were established in response to CSI’s growing international operations and will immediately begin servicing the company’s existing portfolio of global customers while also seeking lease opportunities with local organisations.

CSI Leasing open subsidiaries in Hungary and Austria

Jan 31, 2024

CSI Leasing, Inc. (CSI) has established two new subsidiaries in Europe – CSI Leasing Hungary Kft. in Budapest and CSI Leasing Austria GmbH in Vienna. The new entities were established in response to CSI’s growing international operations and will immediately begin servicing the company’s existing portfolio of global customers while also seeking lease opportunities with local organisations.

Corporate insolvencies hit 30-year high in England and Wales

In 2023, 25,158 company insolvencies were reported in England and Wales by the Insolvency Service, the highest number since 1993. Figures included 20,577 voluntary liquidations (9% higher than 2022 and the highest number since 1960), 2,827 compulsory liquidations (up 44%), 1,567 administrations (up 27%), and 185 company voluntary arrangements (CVAs) (up 67%).

Corporate insolvencies hit 30-year high in England and Wales

Jan 31, 2024

In 2023, 25,158 company insolvencies were reported in England and Wales by the Insolvency Service, the highest number since 1993. Figures included 20,577 voluntary liquidations (9% higher than 2022 and the highest number since 1960), 2,827 compulsory liquidations (up 44%), 1,567 administrations (up 27%), and 185 company voluntary arrangements (CVAs) (up 67%).

The Acquis Index 2023: growth on hold, the asset finance year in review

Acquis takes a look at the highs and lows that were felt across the industry in 2023. With a cost-of-living crisis showing no signs of abating and ongoing turmoil in global politics causing continued pressures, the economic outlook for the UK at the start of 2023 was gloomy at best.

The Acquis Index 2023: growth on hold, the asset finance year in review

Jan 25, 2024

Acquis takes a look at the highs and lows that were felt across the industry in 2023. With a cost-of-living crisis showing no signs of abating and ongoing turmoil in global politics causing continued pressures, the economic outlook for the UK at the start of 2023 was gloomy at best.

Third phase of BBB’s Recovery Loan Scheme offers £1bn of lending to UK smaller businesses

The British Business Bank (BBB) has today announced that the third iteration of its Recovery Loan Scheme (RLS) has supported £1bn of finance offers to smaller businesses since its launch in August 2022.

Third phase of BBB’s Recovery Loan Scheme offers £1bn of lending to UK smaller businesses

Jan 22, 2024

The British Business Bank (BBB) has today announced that the third iteration of its Recovery Loan Scheme (RLS) has supported £1bn of finance offers to smaller businesses since its launch in August 2022.

Energy and fuel costs hinder SME growth in 2023 despite government support

With Ofgem announcing the new consumer energy price cap at the start of January, research from Simply Asset Finance reveals the impact of rising energy prices on UK SMEs in 2023, which have been unable to benefit from capped rates. According to its research, soaring energy and fuel prices have hindered the growth of SMEs in the UK over the past year, as one in five (22%) reported having to delay significant business investments as a result.

Energy and fuel costs hinder SME growth in 2023 despite government support

Jan 22, 2024

With Ofgem announcing the new consumer energy price cap at the start of January, research from Simply Asset Finance reveals the impact of rising energy prices on UK SMEs in 2023, which have been unable to benefit from capped rates. According to its research, soaring energy and fuel prices have hindered the growth of SMEs in the UK over the past year, as one in five (22%) reported having to delay significant business investments as a result.

8 in 10 small businesses planning raft of new sustainability projects for 2024

More than eight in 10 small businesses (85%) plan to invest in sustainability measures in the coming year, with energy efficiency ranking as the top priority for 2024 - according to new research from Novuna Business Finance. The survey asked a representative sample of 1,000 small business leaders which investments they were thinking of making in the next year to help improve their sustainability credentials.

8 in 10 small businesses planning raft of new sustainability projects for 2024

Jan 22, 2024

More than eight in 10 small businesses (85%) plan to invest in sustainability measures in the coming year, with energy efficiency ranking as the top priority for 2024 - according to new research from Novuna Business Finance. The survey asked a representative sample of 1,000 small business leaders which investments they were thinking of making in the next year to help improve their sustainability credentials.

EVTEC strengthens group acquisitions with £7.4m facility from Cynergy Business Finance

EVTEC, a UK supplier in the aluminium and automotive sectors, has secured a £7.4m multi-asset facility from Cynergy Business Finance (CBF) to support its acquisition of JVM Castings (JVM). To support EVTEC’s continued acquisition growth strategy, EVTEC and TSF Finance worked with CBF to structure a flexible asset-based lending (ABL) facility. The multi-asset deal provided comprises a £3.5m invoice financing facility, along with a £3.9m plant and machinery (P&M) facility.

EVTEC strengthens group acquisitions with £7.4m facility from Cynergy Business Finance

Jan 18, 2024

EVTEC, a UK supplier in the aluminium and automotive sectors, has secured a £7.4m multi-asset facility from Cynergy Business Finance (CBF) to support its acquisition of JVM Castings (JVM). To support EVTEC’s continued acquisition growth strategy, EVTEC and TSF Finance worked with CBF to structure a flexible asset-based lending (ABL) facility. The multi-asset deal provided comprises a £3.5m invoice financing facility, along with a £3.9m plant and machinery (P&M) facility.

Supporting viable businesses in 2024 is vital, warns Time Finance

Time Finance is ramping up its support for businesses in 2024 amidst new data from the Office for National Statistics (ONS), which shows that business insolvencies exceeded 25,000 in 2023. Responding to the ONS’ latest data, Time Finance is cautioning that while inflationary pressures on businesses remains a reality, many could have avoided insolvency with the right financial planning and support in place.

Supporting viable businesses in 2024 is vital, warns Time Finance

Jan 18, 2024

Time Finance is ramping up its support for businesses in 2024 amidst new data from the Office for National Statistics (ONS), which shows that business insolvencies exceeded 25,000 in 2023. Responding to the ONS’ latest data, Time Finance is cautioning that while inflationary pressures on businesses remains a reality, many could have avoided insolvency with the right financial planning and support in place.

Sany America partners with DLL to provide flexible equipment leasing solutions

Sany America Inc. has announced a new partnership with global asset financing provider, De Lage Landen Financial Services, Inc. (DLL), to provide flexible equipment leasing solutions for their customers.

Sany America partners with DLL to provide flexible equipment leasing solutions

Jan 17, 2024

Sany America Inc. has announced a new partnership with global asset financing provider, De Lage Landen Financial Services, Inc. (DLL), to provide flexible equipment leasing solutions for their customers.