The Business Finance Bulletin is a weekly podcast featuring small business news, tips, ideas and strategies on raising business finance. This podcast is hosted by Rob Warlow from Business Loan Services, the commercial finance experts.
Kicking off our latest Bulletin, a report from UHY Accountants finds that the UK is in a business start up boom. The figures from HMRC reveal that more businesses were started in 2020 compared to 2019 as people had the opportunity to start up the business of their dreams. Staying with start ups, we look at the announcement form the Start Up Loan Company that it has hit a new milestone in terms of money lent out and the number of new businesses supported. To close, a survey from TSB highlights how few people are either aware of what a credit score is or of their score. When it comes to borrowing money, we look at how important your credit score is.
5 min 50 sec
To start this week’s Business Finance Bulletin podcast, research from Hitachi Capital Business Finance has revealed that businesses are now less fearful of contraction or collapse compared to last year. The swing in confidence is a signal that businesses are seeing growth prospects again. When businesses get back into a growth phase, that typically brings with it a need for additional working capital. This has been borne out in a survey from unsecured business finance provider Iwoca. We look at the findings which highlight an increase in demand for short term, unsecured finance. Wrapping up this Bulletin, we have our monthly review of the latest insolvency figures. We look at how the number of firms entering into some form of insolvency arrangement is on the increase.
5 min 59 sec
Opening this Business Finance Bulletin, after being the key source of finance for 12 months the final figures are out for the Bounce Back Loans and CBILS schemes. The figures reveal the extent of finance taken on by businesses and now it is payback time. For start ups and smaller businesses getting on the ladder to build a credit score can be difficult, but a new service announced by Tide Bank will ease this problem. Tide’s Credit Builder is designed to help smaller businesses create a credit footprint thereby making future access to finance easier. To close, we review the latest figures from the Finance and Leasing Association which reveals a significant return to usage of asset finance facilities such as leasing and HP. This is a good sign of the continuing return of confidence among businesses.
6 min 9 sec
Although the moratorium on Statutory Demands and Winding Up petitions was recently extended, the moratorium on Wrong Trading was not. Opening this latest Bulletin, I look at how the reintroduction of Wrongful Trading with effect from 1st July could impact company Directors. Late payment continues to be concern for small businesses, but I have good news with changes to the Prompt Payment Code now coming into effect. We look at the new commitment signatories to the Code made have in terms of paying small business invoices quicker than before. To wrap up this edition, a look at how with sales increasing for many businesses, now more than ever is the time to plan your cashflow requirements for the next few months.
5 min 58 sec
Economic recovery can often bring another set of challenges to manage and being able to spot and tackle financial distress is important. Opening the latest Business Finance Bulletin podcast, we look at a new guide from R3 on identifying financial distress and the options available to deal with it. Having access to support and guidance from industry experts is always welcome. A number of credit experts have launched a support group to assist businesses with questions on how to manage credit-related problems. Could this resource help you avoid falling foul of late payment and bad debts? Managing cashflow is a key priority for any business. To wrap up this Bulletin, we review the forthcoming launch of Tide Bank’s Cashflow Insights app which is designed to help businesses better forecast and control their cash position.
4 min 40 sec
Companies entering an insolvency arrangement is starting to increase. Opening this Business Finance Bulletin podcast, we review the latest insolvency figures and the government’s extension to the Statutory Demand and Winding Up Petition moratorium. Will this continue to keep insolvencies low? As part of the government’s strategy of ‘levelling up’, we have news of the launch of The UK Infrastructure Bank. Whilst it won’t directly lend to small business, will there eventually be a positive knock-on effect? To close, a review of the latest annual Small Business Equity Tracker report reveals that 2020 saw the largest amount of equity investment made in small and medium-sized businesses.
5 min 54 sec
With the economy starting to get back on track, we open this Business Finance Bulletin with news from the Finance and Leasing Association of large increase in leasing and HP deals written in April. Although still well off the 2020 figures, encouragingly the gap is beginning to close as business investment activity increases. Business confidence also continues to grow with a survey from the British Chambers of Commerce and Funding Circle revealing business activity levels and sentiments for the future. The survey findings highlight how resilient businesses have been. To close, analysis from online accountants Mazuma uncovers how many businesses are concerned about their ability to pay back their Bounce Back Loan. What are your options if your cashflow is still tight?
5 min 12 sec
When the Recovery Loan Scheme was launched in April, the number of accredited lenders on the panel was limited. With the panel lenders now expanding, in our latest Business Finance Bulletin podcast we review the new lenders focused on specific regions of the country and how they are broadening the Scheme’s reach. Business is tough enough as it is but identifying and dealing with fraud can be an unwarranted distraction. HSBC has announced the launch of an app designed to flag new scams and keep you up to date with trends in fraud and cyber crime. Could this app help you keep away from the fraudsters? To close this Bulletin, we review the latest figures from the Finance and Leasing Association which reveal that HP and Leasing deals are on the increase. Following the easing of restrictions, it seems that businesses are again beginning to re-invest.
5 min 47 sec
According to the latest Lloyds Bank Business Barometer report, business owners are continuing to feel increasingly optimistic about their future prospects. With optimism and confidence levels reaching new highs we look at one key peril to watch out for. If you have a idea for a great new business and you need an incentive to get started then check out a business start up competition launched by Tik Tok, the video sharing platform. With a cash prize and an array of support and mentoring could this be the push you’re looking for? Bank charges are often a bone of contention. To close this Bulletin, we look at the announcement from TSB of an offer of up to two years free banking. One to look at if you wish to reduce the cost of running your day-to-day business banking.
4 min 54 sec
Kick starting this week’s Business Finance Bulletin podcast, the Recovery Loan Scheme has had a quiet start since its launch but the number of lenders on the panel is now slowly increasing. We look at the latest additions and what continues to hold the Scheme back. The Start Up Loan Company is encouraging younger people to think about becoming entrepreneurs. This is off the back of an analysis of the 80,000 loans they have distributed which reveals a large portion have gone to new business owners in the 18 to 24 year old age range. How could the loan assist you? To close, a look at findings from the latest Lloyds Bank UK Recovery Tracker, which uncovers that the UK’s key sectors are back on the path to growth.
5 min 46 sec
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?
6 min 59 sec
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?
6 min 19 sec
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.
7 min 50 sec
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.
6 min 10 sec
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.
6 min 11 sec
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.
7 min 29 sec
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.
7 min 13 sec
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.
6 min 36 sec
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.
7 min 1 sec
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.
6 min 45 sec
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.
5 min 21 sec
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.
6 min 40 sec
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.
4 min 53 sec
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.
5 min 36 sec
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.
7 min 36 sec
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.
6 min 16 sec
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.
6 min 16 sec
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?
7 min 58 sec
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.
6 min 4 sec
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.
4 min 56 sec
Times of uncertainty can make businesses more susceptible to scams. Opening this latest Business Finance Bulletin podcast, we look at a report from Barclays which reveals a stark increase in the number of business scams. How can you avoid falling victim? As we edge closer to the end of 2020 business owners are facing a squeeze on cashflow. A survey from MarketFinance uncovers how close businesses are to running out of cash. Wrapping up this podcast, a question from a young entrepreneur on how he can improve his credit score and secure start up finance.
7 min 6 sec
Starting this latest Business Finance Bulletin podcast, good news for Directors concerned about potential personal liability on decisions being taken with an announcement that the suspension on Wrongful Trading has been extended. How satisfied are you with the service your bank is providing and what factors would you take into consideration if you were to move banks? These are questions posed by the Current Account Switch Service in its latest survey. To close, with the CBILS and Bounce Back Loan application deadline extended, the Office for Budget Responsibility has revised the estimated losses the government could face on the two schemes. The amounts demonstrate the potential high cost of supporting businesses.
7 min 30 sec
Opening our latest podcast, news from the Start Up Loan company that it has appointed its latest batch of 12 Ambassadors. These are businesses owners who have built a successful business after receiving a start up loan. We take our monthly look at the Bounce Back and CBILS loan sector. Whilst the figures show a continued increase in the number and volume of loans drawn, the rate of increase is starting to slow. To wrap up this edition, a review carried out by Capital on Tap reveals the UK’s entrepreneurial hotspots when it comes to new company formations since the first lockdown. Which sector has proved to be the most popular type of new business?
5 min 53 sec
To open this latest Business Finance Bulletin podcast, we look at an announcement from Just Cashflow that it is about to launch its own Business Account. Just Cashflow clients will now be able to take advantage of this new service which offers all the features of a traditional bank account. Good news for small businesses looking for a bank designed around their needs with the news that a new bank has received approval to launch. We look at how Recognise Bank will support SMEs with a range of lending products, based on a relationship-led approach. To close, with businesses focusing on managing costs and cashflow, we have news from Iwoca that it is waiving charges on its IwocaPay facility up to 2nd December. Could IwocaPay help you better manage your cashflow in these turbulent times?
5 min 34 sec
Opening this latest Business Finance Bulletin podcast, we look at a disclosure from the British Business Bank as to the number of fraudulent Bounce Back Loan applications lenders have intercepted, and the amount prevented from being lost to criminals. A report from the EY Item Club has revealed the staggering amount businesses have borrowed in 2020. The comparison to how much was borrowed in 2019 raises fears of a burgeoning debt bubble. To wrap up, despite levels of borrowing generally increasing, we review the latest figures from the Finance and Leasing Association which show that the number leasing and HP facilities is in decline, demonstrating a lack of business investment appetite.
5 min 29 sec
Whilst it is always wise to review your costs and overheads, new research has revealed that businesses are cancelling insurance policies to save on the premiums. Opening this week’s Bulletin, we look at the top 3 policies businesses are cancelling and the risks they are taking. We review the latest Red Flag Alert report from Begbies Traynor, which highlights an increase in financial distress some businesses are now under. The jump in numbers between quarters is a reminder of how tough 2021 could be for some businesses. To close the Bulletin, a call from the All Party Parliamentary Group for Fair Business Banking for the government to support those businesses locked out of applying for a Bounce Back Loan because they don’t have a business bank account.
5 min 52 sec
As the application deadline for the Bounce Back Loans and CBILS looms we open this podcast with a review of the latest figures on the number of loans and amounts borrowed. There are also signs that lenders are starting to close their doors early. A survey from Hitachi Capital Business Finance reveals that small business owner’s ambitions to grow, whilst not surprisingly lower than pre-COVID levels, has remained steady over the last two quarters. Is this sustainable? Wrapping up this episode, we share a story of how one business didn’t follow up on a potentially lucrative contract due the credit terms demanded by the other side. We look at how Invoice Finance could help preserve cashflow.
6 min 4 sec
Opening the latest Business Finance Bulletin podcast, we look at a new offering from alternative finance provider Just Cashflow. With more traditional cashflow issues starting to re-appear, Just Cashflow has launched a VAT Loan facility to support businesses with payment of their VAT liabilities. Despite the perilous state of the UK economy, the latest figures on how many businesses have entered an insolvency arrangement is still low. We look at the three factors which are artificially holding the numbers back. To close, a survey from Aldermore Bank reveals that the events of this year have reminded businesses of the importance of holding a cash reserve. The survey finds that businesses are now looking at increasing the amount they save.
6 min 32 sec
The latest review of business borrowing by UK Finance has revealed a staggering increase in the amount of debt firms took on in Quarter 2 of this year. The figures highlight the debt mountain businesses face repaying in 2021. Research from Nimbla, the trade credit insurance provider finds that many businesses are still owed money from pre-COVID sales. What are businesses expectations on invoice payment in the last quarter of this year and beyond? To close, we review a report from the National Audit Office estimates that the government could suffer a high proportion of losses on the Bounce Back Loan scheme.
6 min 36 sec
Opening this latest Bulletin, we review the annual National Statistics Office report detailing how many businesses have claimed R&D Tax Credits and how much they have received. If you have changed or improved the way you do business are you taking advantage of this scheme? Tackling late payment is a problem that never seems to go way. The Small Business Commissioner office is proposing additions to its powers which will allow them to take tougher actions against late payers. To wrap up, we look at levels of business confidence and how the appetite to invest in new plant, machinery and equipment remains low.
6 min 15 sec
This episode is devoted to developments within the CBILS and Bounce Back Loan government support schemes. Given the ongoing economic problems, we kick off with a look at the Chancellor’s announcement that the CBILS and Bounce Back Loan application deadlines have been extended. Is it time to re-look at your borrowing requirements? We look at the latest figures from HM Treasury on how much has been borrowed from the two main support schemes. The amount of money borrowed is a significant sum and signals a tough 2021 for many businesses when it comes to repaying these loans. To close this Bulletin, we consider some of the unintended consequences of the CBILS and Bounce Back Loan schemes in term of future availability of finance and capacity for businesses to borrow.
7 min 33 sec
As we enter a recovery phase in the UK economy, businesses are now turning their thoughts to how their operation will look in the future. A survey from Hitachi Capital Business Finance reveals that many business owners have undertaken a critical review of key areas and taken steps to safeguard their future. One impact of recent events has been the effect the downturn has had on business owners looking to exit. Findings by Nucleus Commercial Finance undercover how plans to sell up have been put on hold. To close this Bulletin, we look at annual results released by the British Business Bank. This lender may not be familiar to many small businesses, but the chances are they have been indirectly supported by this government body.
Over the last six months businesses have taken on significant amounts of debt. Opening the latest Business Finance Bulletin, we look at survey findings from the British Chambers of Commerce and TSB which reveal how businesses have used their CBILS cash and, more importantly, how they will cope with this new debt. Latest figures from the Finance & Leasing Association show that the number of new Asset Finance deals taken in July continues to be well below activity this time last year. However, there is a glimmer of hope with signs that perhaps businesses are beginning to re-invest. Wrapping up this edition, with the CBILS application deadline fast approaching, there is no slowdown in lenders continuing to shout out that they are very much open for business.
4 min 51 sec
To open the latest Business Finance Bulletin podcast, the recent announcement that CBILS lenders now have until the end of November to review and process applications does not mean an extension to the deadline for submission of applications. Are you ready to beat the closing date? With an element of business-as-usual beginning to be seen, we review a survey from Hitachi Capital Business Finance which reveals they three key priorities business owners are now focusing on. To wrap, news from Atradius, the trade credit insurance provider, on a prediction of a sharp increase in insolvencies over the next 12 months. What do you need to be aware of?
5 min 59 sec
To start this Business Finance Bulletin podcast, we review a new report from the SME Finance Monitor team which looks at the economic impact of COVID in terms of current and future performance. The Insolvency Service has released the latest corporate insolvency figures for July. Whilst the number of firms entering some form of insolvency has increased compared to June, when benchmarked against July 2019, the numbers are down. We look at why that is. To wrap up, a positive message! A study undertaken by Allica Bank and the Centre of Economics and Business Research has revealed the six rules of business success. Which ones will you follow?
7 min 28 sec
Opening this Business Finance Bulletin podcast, fears of another Credit Crunch are mounting with the Bank of England calling on banks to play their part in meeting funding needs as business start gearing back up. The latest figures from the Finance and Leasing Association reveal how demand for Asset Finance facilities has dramatically fallen over the last quarter. We look at the two factors which are driving this decline. To close, a review of which areas of the UK have taken the most CBILS and Bounce Back Loans, and the latest figures on how many loans have been accessed by businesses in need of finance.
6 min 47 sec
Opening this week’s Bulletin podcast, we look at the amount banks are setting aside for expected loan losses. We are in the High Street banks’ half-year reporting season and they are setting aside significant provisions for expected loan defaults. How could this impact you when looking for finance? Although experiencing a fall in sales, the impact on small businesses is being offset by cost savings. We review a survey from Hitachi Capital Invoice Finance which reveal the top cost lines where savings are being made. To close, we look at surveys from Lloyds Bank and the Federation of Small Businesses, one which reports businesses are starting to feel more confident, and the other revealing that business owners are still cautious about the next three months.
6 min 21 sec
On 22nd July HMRC’s status as a Preferential Creditor in insolvency situations was restored after nearly 20 years. Could this have an impact on the cost of obtaining business finance and the appetite of lenders to support businesses? As growth in the economy begins to kick back in, many businesses are a long way off in settling into a new routine. To take the pressure off, calls are being made for the government to extend the temporary moratorium on Wrongful Trading which is due to be lifted at the end of September. To close this Bulletin, we review the latest CBILS and Bounce Back Loan figures which continue to provide a financial lifeline to businesses.
7 min 11 sec
Opening the latest Business Finance Bulletin podcast, we look at proposals presented by financial firms and professionals on how to easy the debt and cashflow burden facing business in 2021 when CBILS and Bounce Back Loan repayments start. As businesses open and consumers slowing start spending, we review the latest quarterly survey from Hitachi Capital Business Finance which reveals that business confidence is slowly beginning to return, especially among small businesses. To close, the announcement that the European Union has relaxed the Undertaking in Difficulty test means that businesses refused a CBILS loan due to an insolvent Balance Sheet can now re-apply. This is good news for businesses previously denied access to the CBILS programme.
7 min 5 sec
To start this week’s podcast, we take a look at whether we are going to see another Credit Crunch in 2021? The signs are starting to emerge that we may and if so, what can you do now to avoid getting caught out? Getting the right support and advice can help you navigate these turbulent times. If you value advice as you plan your recovery, then there’s good news in the form of the launch of a free advice hub hosted by Enterprise Nation. We review the types of support you can access. To close, a review by the Chartered Institute of Credit Management has revealed the impact on those businesses offering payment holidays. How can you manage this?
7 min 8 sec