Business Finance Bulletin

As the application deadline to apply for a Bounce Back or CBILS loan fast approaches, there is talk of a new government-backed loan being announced in this week’s Budget. Focusing more on recovery than survival we consider what the features of the loan could be.

Smaller, local businesses have been badly hit over the last 12 months. We look at a pilot scheme launched by Barclays Bank in four UK towns. The Rebuilding Thriving Local Business programme designed to equip small business owners with the skills to restore their businesses. More information here https://www.barclays.co.uk/business-banking/sectors/entrepreneurs/back-to-business-programme/

To close, a review of the latest Lloyds Bank monthly Business Barometer survey which reveals that business is slowly edging up to highs not seen for nearly a year.

What is the business borrowing environment going to look like post Bounce Back Loans and CBILS? Opening the latest Business Finance Bulletin, we look at why obtaining finance will be challenging once the government loan support schemes finish.

After two years in the making, seven of the major banks have launched the Business Banking Resolution Service. The service provides a path for small businesses who want an independent body to review complaints they have against their bank.

Wrapping up this podcast, if you deferred your VAT payment due between March and June 2020, we look at HMRC’s announcement that it will be opening up applications to pay the amounts due over 11 months.

Kickstarting this latest Business Finance Bulletin podcast, we review the changes announced to the Bounce Back Loan scheme. The tweaks to the scheme will help those small businesses which are seeing a slower uptick in trading than hoped for.

Those businesses trading in Europe are finding it a challenge to negotiate the new rules and regulation. Recognising this, the government will be launching the SME Brexit Support Fund, which will provide grants to businesses in need of support and advice.

To wrap up this edition, research from EY ITEM Club has revealed the level of debt businesses took on in 2020 and how the amount is significantly higher than seen in previous years.

Opening the latest Business Finance Bulletin, good news in a survey from Hitachi Capital Business Finance, which reveals that despite continuing lockdowns, many businesses are still looking ahead to growth. But not all sectors are so confident.

We look at findings from Purbeck Insurance Services which highlight that businesses which took on larger CBILs facilities have exposed Directors to an element of personal risk via Personal Guarantees.

To close, not all businesses are keen to take on debt to keep cash flow positive or fund new projects and would prefer a grant. We look at a new free grant finder service launched by Nat West and Swoop which could help source the right grant.

The Insolvency Service has reported on the number of firms which entered some form of insolvency arrangement in 2020. Opening this Bulletin podcast, we look at why the numbers are lower than 2019 and how the tidy is beginning to turn.

We look at the latest CBILS and Bounce Back Loan figures which reveal that demand for the support loans are still strong. The figures also show that topping up an existing Bounce Back Loan has proved popular.

To wrap up this edition, we review a report from Small Business Britain and TSB focused on the actions small businesses have taken to become more resilient in 2021.

With 2021 being the year where managing cash flow will be more important than ever efforts to reduce instances of late payment are always welcome. We open our latest Bulletin podcast with changes announced by the Prompt Payment Code which will see its members reduce the number of days taken to pay invoices.

If you are purchasing a commercial property which is subject to VAT then payment can put a strain on cash flow. We look at a new short-term loan launched by Just Cashflow which can assist in the up-front VAT payment.

To close, we review new analysis from the British Business Bank which reveals the top three regions which have taken advantage of the CBILS and Bounce Back Loans.

This time of year, people tend to set new goals and actions and businesses are no different. We open this edition of the Business Finance Bulletin podcast by reviewing the latest Business Barometer report from Hitachi Capital Business Finance. The report highlights three key actions businesses plan to take in 2021.

After nearly a year where the number of businesses entering some form of insolvency arrangement has been lower than in previous years, we look at figures from the Insolvency Service which reveal the first increase. Is pressure on businesses now beginning to become evident?

To wrap up this podcast, a call from members of the Institute of Directors for the Small Business Commissioner to be allowed to issue penalties to businesses with late payment practices.

In the first Business Finance Bulletin podcast of 2021 we open by looking at the latest Business Finance Review from UK Finance which reveals the level of borrowing businesses have taken on in the first three quarters of 2020 and the challenges this will bring.

In 2021 the adage that ‘cash flow is King’ will never be truer. A survey from the British Chambers of Commerce highlights the impact the economic contraction has had on business cash flow positions.

To close, from the same survey, businesses are holding back on investment plans. Are these businesses putting themselves at a disadvantage when the economy picks back up?

This edition of the Business Finance Bulletin podcast is a Bounce Back and CBILS fest! We kick off with the news that following a raft of new restrictions the government has extended the application deadlines for all the loan support schemes.

The swift roll-out of the Bounce Back Loan scheme has been criticised by the Treasury Select Committee stating that the balance between protecting taxpayer’s money and supporting business is wrong. We look at what their concerns are.

To close, a review of the latest Bounce Back Loan and CBILS figures which show continued growth and demand from businesses in need of cash support.

Cash strapped businesses which are facing creditor pressure have been granted further breathing space by the Government. Opening our latest podcast, we look at the announcement that the suspension on serving Statutory Demands and Winding Up petitions has been extended. Could this lifeline create more zombie businesses?

MarketFinance has launched its Business Booster Fund which is offering successful applicants a grant of £5,000 to support their growth plans. Could you do with a cash boost?

To close the Bulletin, good news in a survey from Hitachi Capital Business Finance which reveals that more businesses are planning to get back to expanding in 2021.