Business Finance Bulletin

Are you soon facing your first Bounce Back Loan repayment? Many businesses have just paid their first repayment or soon will and are concerned with cashflow still tight. Opening our latest Bulletin, we look at repayment options under the Pay as You Grow Scheme designed to ease your cashflow burden.

A government Bill has been proposed to close a loophole in the insolvency process where Directors can dissolve their company with the aim of walking away from their Bounce Back and CBILS loan liabilities. The Bill, if passed, could see Directors facing sanctions if found guilty of fraudulently dissolving businesses.

To close, a new report highlights that after losing a share of the business lending market, High St banks are again becoming dominant lenders over the alternative lenders and Challenger banks. Is that a good thing?

Opening our latest podcast, we look at how a survey from Bibby Financial Services confirms that business owners continue to feel increasingly confident about the future. What’s driving their confidence and what’s the one thing which could hold them back?

Tide, the mobile business account provider, has announce the forthcoming launch of Tide Invoice Assistant. We look at how the new service can save business owners time in handling their invoicing tasks.

To wrap up, we review the latest figures from the Finance and Leasing Association which, for the first time in nearly a year, report an increase in Asset Finance deals written. Is this a sign that businesses are beginning to reinvest?

Opening our latest Business Finance Bulletin podcast, as businesses get back on the path growth, what are their top priorities and actions? We look at the findings from the recent Hitachi Capital Business Finance Business Barometer report.

It’s not all good news for businesses though. We review the most recent Red Flag Alert report from Begbies Traynor which reveals a jump in the businesses which class themselves as in ‘significant financial distress. What actions can you take to keep on the right side of the track?

To wrap up this edition, a report from Dun and Bradstreet highlights that a continuation in late practices could hinder the hoped-for business recovery and growth during the remainder of this year.

As the economy kicks back into action, it’s not only businesses which are feeling more confident. Opening this latest Bulletin, we look at a number of lenders who are offering increased support to small businesses with new funding pots and enhanced terms.

Have you tried opening a business bank account during the last 12 months? If you have then no doubt it was a frustrating experience. The government seems to think so as well with the launch of a Treasury Select Committee investigation. What are they asking of the High Street banks?

To close, in the latest Lloyds Bank Recovery Tracker further good news about an improvement in business recovery. One sector stands out in seeing the signs of an early bounce back.

We open our latest Business Finance Bulletin with the good news that business confidence levels are on the up. The latest Business Barometer report from Hitachi Capital Business Finance reveals that an increasing number of business owners are predicting improved months ahead.

Cashflow can be tight for many businesses, but particularly for start ups. Just Cashflow, the short term finance lender, has announced that alongside their new Business Account, qualifying start ups can now access their Revolving Credit Facility.

To wrap up this podcast, we review the latest company insolvency figures which highlight that businesses potentially in trouble continue to be protected by the various government support schemes.

On 6th April the Recovery Loan Scheme was launched. Replacing the Bounce Back Loan and CBILS the new scheme is designed to support businesses in need of growth funding. We look at how the scheme works and how it could benefit your business.

As businesses focus on getting back on track no one can ignore the level of debt firms accessed in 2020. We review a report from UK Finance which lays bare the extent of debt businesses have taken on and how some owners are beginning to worry about their ability to start repaying.

To close this Bulletin, news from Metro Bank on a new addition to their mobile banking app. The function will allow users who don’t wish to use an online accounting software package to create their own branded invoices.

According to the latest research from Barclays Bank, there has been a notable increase in the number of business scams. Opening the latest Business Finance Bulletin, we highlight five scams to watch out for.

Alongside the extension of other support measures, we look at the government announcement extending the period of a range of measures designed to protect those businesses in precarious financial position.

To close, a new report from Experian reveals that many people are not checking their credit files. We look at why this is important if you are thinking of applying for business finance.

We open this Business Finance Bulletin podcast with a review of the latest business insolvency figures. The most recent figures released by the Insolvency Service reveal that insolvencies are still declining. It is acknowledged that the figures will eventually increase so what can you do to protect yourself from customers not paying?

The latest figures from the Finance and Leasing Association show that use of Asset Finance in January continue its downward trend. Will the new Super Deduction investment tax break encourage businesses to invest?

Wrapping up, a look at a finding in the recent SME Finance Monitor report which highlights that some business owners have big plans and are still happy to take risks to achieve growth.

Opening the latest Business Finance Bulletin, we review a report from the British Business Bank looking at the business borrowing market in 2020. Not surprisingly the report reveals that businesses took on an unprecedented level of debt.

With businesses going full out on CBILS and Bounce Back Loans the alternative finance sector, which was booming up until 2020, has taken a hit with falling demand. We look at news of one of the first casualties with Nat West’s announcement that ESME Loans is closing its doors.

To close, the roll out of Open Banking takes a step forward with news that 9 of the main High Street banks are to join forces to spearhead a joined-up approach to deliver a consistent offering.

We devote the whole of this week’s Business Finance Bulletin podcast to the new Recovery Loan Scheme.

In his Budget last week, the Chancellor announce that CBILS and the Bounce Back Loan Scheme would not be renewed but instead would be replaced by the Recovery Loan Scheme.

We look at features of the new Scheme; the key differences between it and CBILS and the Bounce Back Loan; and the actions you should take now in terms of the 31st March deadline for the existing schemes and preparation for the Recovery Loan.