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Commercial Credit News
Reward Finance Group helps create new jobs and 70 percent increase in turnover
Wednesday, 15 March 2017
New jobs and impressive increase in turnover following £250,000 makeover of Belthorn restaurant.
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Henry Howard Finance continues growth journey
Tuesday, 14 March 2017
Leading independent finance provider, Henry Howard Finance (HHF), has added to its ambitious management team as it seeks to build on its recent success.  
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New Head of Risk for Atradius UK
Tuesday, 14 March 2017
Trade credit insurer Atradius has appointed Mike Thomas as Head of Risk Services for UK & Ireland.  
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SMEs put dampener on wider trading aspirations for UK
Tuesday, 14 March 2017
UK SMEs overwhelmingly see Germany as the most important country to the economy, according to the latest SME Confidence Tracker from business funder, Bibby Financial Services (BFS).  
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FSB in Scotland on prospect of second independence referendum
Monday, 13 March 2017
Today First Minister Nicola Sturgeon outlined the Scottish Government’s intention to hold a second independence referendum. 
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Strong start to 2017 for asset finance market
Friday, 10 March 2017
New figures released today by the Finance & Leasing Association (FLA) show that asset finance new business (primarily leasing and hire purchase) grew by 16% in January, compared with the same month in 2016.  
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Budget reaction from Benson Hersch, Association of Short Term Lenders - on the OBR forecast and debt
Thursday, 09 March 2017
Benson Hersch, CEO at the Association of Short Term Lenders, says “The biggest risk the UK faces is the level of both personal and government borrowing. It is this that jeopardises both the level of housing investment and our ability to withstand any shocks that the Brexit process may bring.  Only a few years ago the previous Chancellor said government borrowing would peak at what sounded like the horrendous amount of 80% of GDP; in the budget today Philip Hammond declared that will now reach 88% of GDP in the 2018/19 financial year.  Each year we spend £50billion on debt interest.   That's more than on defence or foreign aid. 
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Paul Edmeades joins Independent Growth Finance as Head of Underwriting
Thursday, 09 March 2017
IGF, the leading commercial finance provider for SMEs, has appointed Paul Edmeades as the firm’s Head of Underwriting for Asset Based Lending. 
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Paul Kaye, Close Brothers Motor Finance comments on business rates measures
Thursday, 09 March 2017
Paul Kaye, Sales and Marketing Director at Close Brothers Motor Finance, comments on the business rates measures announced in the Spring Budget: “We welcome the Chancellor’s announcement of a consultation on business rates, as well as £300m fund for local councils to offer discretionary relief. However, as it stands there are car dealers across the country still expecting to foot the bill of an average 16% increase, which could have a serious impact on their bottom line. The rate hike comes at a time when a higher national living wage and pension auto-enrolment have already significantly reduced the profitability of some dealers. 
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Budget 2017: Bankruptcy impact of new anti-avoidance tools needs considering by government – R3
Thursday, 09 March 2017
With £820m of new anti-tax avoidance measures announced in today’s Budget, Andrew Tate, president of insolvency and restructuring trade body R3, says:  “The government needs to think more carefully about the impact its anti-tax avoidance tools have on those individuals affected. Tackling the abuse of the tax system is needed, but efforts to do so should not tar everyone with the same brush, while inflexibility can have disproportionate or unproductive outcomes. Attention should be given to how people can pay new tax demands, especially if their ‘avoidance’ is the result of a simple mistake, naivety, or poor advice.”
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Spring Budget - SMEs affected by business rates revaluation
Thursday, 09 March 2017
Aamar Aslam, CEO of Funding Invoice, the invoice trading platform, comments on the changes in business rates, as outlined in the Spring Budget 2017:   “The Chancellor announced today that business rates revaluation will take effect from April 2017 across England, along with a planned discretionary fund of £300m for local authorities to support businesses hard-hit by business rates, which will undoubtedly be welcome news for businesses across the country facing closure as a result of these revaluations.
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