Commercial Credit

National Insurance holiday 'does not go far enough'

Mon, 06 Sep 2010 17:43:05 +0100

The Forum of Private Business (FPB) is welcoming a National Insurance (NI) holiday for some start-ups but calling for further tax breaks if small businesses are to be the catalyst for sustained economic recovery.

National insurance holiday for new businesses in the regions begins

Mon, 06 Sep 2010 13:15:06 +0100

Today a new regional National Insurance Contributions (NICs) holiday for new businesses came into effect. New business set up outside London, the South East and East of England will be eligible for a holiday worth up to £5,000 for up to the first ten employees they hire in their first year of business. This means a maximum saving on their national insurance payments of up to £50,000.

Service sector profitability falls as business levels remain below normal

Fri, 03 Sep 2010 12:21:00 +0100

Profitability fell unexpectedly in both the Consumer and Business & Professional Services sector in the last three months as business levels remained well below normal, according to the latest Confederation of British Industry (CBI) Service Sector Survey.

Deutsche Bank strengthens the high yield trading business in Europe

Thu, 02 Sep 2010 16:16:56 +0100

Deutsche Bank today announced a number of key hires to strengthen its already successful high yield trading business in Europe.

Wayne Hiley Appointed to New Position as Head of Debt Finance, Northern England

Thu, 02 Sep 2010 16:04:39 +0100

Barclays Corporate, the corporate banking arm of Barclays Bank PLC, today announced the appointment of Wayne Hiley in the new position of Head of Debt Finance, Northern England.

SMEs urged to unlock the secrets of the web through free events

Wed, 01 Sep 2010 17:33:46 +0100

Smaller businesses across the UK are being invited to discover how they can harness the full potential of the internet through a series of free events.

Absolute rebrands as integration with Aldermore completes

Tue, 31 Aug 2010 17:00:15 +0100

Absolute Invoice Finance, the specialist business financier that was acquired in November 2009 by Aldermore, the new British bank, has today rebranded as Aldermore Invoice Finance.

FSA fines SociÃ©tÃ© GÃ©nÃ©rale Â£1.575 million for failures in transaction reporting

Fri, 27 Aug 2010 17:51:38 +0100

The Financial Services Authority (FSA) has fined the London branch of Société Générale (SocGen) £1,575,000 for failing to provide accurate transaction reports to the FSA. The fine reflects the seriousness of SocGen’s failure to submit accurate reports for approximately 80% of its reportable transactions, across all of its asset classes, for a period of over two years.

Forum urges small firms to tell of their banking experiences via online survey

Wed, 25 Aug 2010 18:16:49 +0100

A not-for-profit small business support group is urging firms to take part in a new survey to highlight their experiences of dealing with the banks.

FSA fines Zurich Insurance Â£2,275,000 for the loss of 46,000 policy holdersâ personal ...

Tue, 24 Aug 2010 18:14:47 +0100

The Financial Services Authority (FSA) has fined the UK branch of Zurich Insurance Plc (Zurich UK) £2,275,000 for failing to have adequate systems and controls in place to prevent the loss of customers’ confidential information. The fine is the highest levied to date on a single firm for data security failings.

Forum criticises plans to tax small firms on staff parking

Mon, 23 Aug 2010 16:28:56 +0100

A small business support group has reacted to reports that a controversial tax on private parking spaces is set to be extended.

First growth in asset finance since September 2008

Mon, 23 Aug 2010 15:56:59 +0100

June this year saw growth in new asset finance (leasing and hire purchase), including commercial vehicles and other business equipment, for the first time since September 2008.

Undervalued properties preventing bank lending to small firms, Forum warns

Wed, 18 Aug 2010 17:55:54 +0100

A small business support group is warning that inaccurate property valuations are preventing many smaller firms from accessing affordable bank lending.

Finally, a reason to pay bills on time (Albany Software)

Tue, 17 Aug 2010 17:12:27 +0100

Managing cash flow has become one of the great SME arts over the past year and looks set to remain a critical skill for business survival for some time to come. But just how many organisations understand the costs that are being incurred as a result of failing to pay on time?

FCCI Insurance Group improves pricing, profitability with SASÂ® Analytics

Tue, 17 Aug 2010 17:07:25 +0100

Technology is helping insurers improve profitability and operational efficiency by better understanding and servicing customers. Using SAS, the leader in business analytics, FCCI Insurance Group harvests valuable information from its data, helping underwriters select accounts and price insurance products.

Comment from Bibby Financial Services on Vince Cable's green paper

Tue, 17 Aug 2010 16:52:28 +0100

In response to the announcement of Vince Cable and George Osborne's "intense discussion" on the issue of access to finance for small businesses, Edward Rimmer CEO of specialist invoice financier Bibby Financial Services, believes that if consultation by the Asset Based Finance Association is taken on board, more businesses will understand the benefits invoice finance presents for real funding and growth opportunities:

Poll of polls suggests UK heading for a double-dip

Mon, 16 Aug 2010 16:06:27 +0100

The economy may be heading for a double-dip recession, with fiscal and monetary policies unlikely to spur recovery for the UK, according to the latest Business Trends report by accountants and business advisors BDO LLP.

Strong German export performance holds important lessons for the UK

Fri, 13 Aug 2010 19:03:59 +0100

Commenting on today’s GDP figures for Germany and other eurozone economies, David Kern, Chief Economist at the British Chambers of Commerce (BCC), said:

Target Group appoints new Head of Customer Operations

Fri, 13 Aug 2010 18:48:47 +0100

Leading financial software and servicing company, Target Group, has appointed Neil Andrews as Head of Customer Operations, to further drive delivery of exceptional value and service for the clients of its business process outsourcing division.

Legion Group plc â The UKâs longest established provider of security services is sold

Fri, 06 Aug 2010 16:44:16 +0100

Paul Williams, John Whitfield and Paul Clark of MCR have successfully completed the sale of the UK’s longest established provider of security services, Legion Group plc to the leading support services provider OCS Group UK Limited.

Q2 2010 insolvency figures up 5% on Q2 2009

Fri, 06 Aug 2010 16:08:32 +0100

Personal insolvency figures out this week are expected to show a static, if not slightly reduced, position in comparison to the record figures announced last quarter. Having said that, those figures will still be substantial and the question for creditors remains how they get their money back.

Reaction to Insolvency Service Q2 personal and corporate insolvency figures

Fri, 06 Aug 2010 11:32:19 +0100

Steven Law, President of R3, the insolvency trade body, comments on today’s Q2 statistics from the Insolvency Service.

ICM says focus should be on late payment, not bank lending

Fri, 06 Aug 2010 11:00:21 +0100

Whilst the storm mounts over whether or not the banks are lending to SMEs, recently fuelled further by bumper profits announcements, the Institute of Credit Management (ICM) is calling on businesses to ensure they are doing all they can to keep cash flowing.

Azule Finance helps Movietech scale-up its high-end drama proposition

Fri, 06 Aug 2010 10:53:21 +0100

Rental firm Movietech today announced plans to further upscale its high end camera portfolio with the addition of five ARRI Alexa cameras, financed through media and broadcast leasing specialists, Azule Finance. Movietech received one of the UK’s first ARRI Alexa’s and due to high demand turned to Azule Finance for a quick and competitive leasing solution that ensured they would be among the first UK rental agencies to take delivery of the new cameras, which are currently in high dem ...

Atradius response to Q2 insolvency statistics

Fri, 06 Aug 2010 10:51:08 +0100

Marc Henstridge, Head of Risk,Atradius UK & Ireland said: “Though up slightly on the previous quarter – possibly due to the post Christmas trading boost inflating figures for Q1, and a subsequent lull in Q2 as confidence dipped around the general election - the general downward trend in company insolvencies, down 19.1% on the same period last year, is encouraging.

New red tape rules must be backed by real culture change, says business group

Fri, 06 Aug 2010 10:37:15 +0100

The Forum of Private Business is welcoming the Government’s announcement that a ‘one-in, one-out’ regulatory system will be introduced on 1 September 2010 in order to stem the growing burden of red tape on small firms.

Conister Finance & Leasing Limited Strengthens UK Sales Team

Tue, 03 Aug 2010 17:35:56 +0100

Conister Finance and Leasing is delighted to announce the appointment of two new members to its UK team.

ICM offers helping hand to Notts businesses on cashflow management

Tue, 03 Aug 2010 17:32:27 +0100

Experts from the world of credit management will be on hand to give best advice to local businesses on how to manage their cashflow when the latest Institute of Credit Management (ICM) Roadshow rolls into town and specifically Norwood Park Country House in Southwell, Nottinghamshire.

SMEs act to preserve cashflow as risk of double dip continues

Mon, 02 Aug 2010 18:22:10 +0100

Growing numbers of SMEs in the UK are turning to alternative sources of funding in order to preserve cashflow in the event of a double dip recession, according to specialist business financier, Absolute Invoice Finance (“Absolute”).

Banking figures confirm decline of small business lending

Fri, 30 Jul 2010 15:11:15 +0100

The Forum of Private Business is responding to the latest figures from the British Bankers’ Association (BBA), which show that lending to the UK’s small firms is in decline.

Forum voices opposition to âcripplingâ retirement age plans

Fri, 30 Jul 2010 12:05:06 +0100

A small business support group has hit out at plans to abolish the default retirement age.

Rise in late payment demands support Cableâs Green Paper

Fri, 30 Jul 2010 11:03:32 +0100

Lovetts Plc, one of the UK’s leading law firms specialising in commercial debt recovery has welcomed the Government’s Green Paper designed to address the lending crisis to small firms. The firm saw late payment demands to secure outstanding debt rise by almost a quarter (24.6%) year on year in the first half of 2010.

FPB voices opposition to âcripplingâ retirement age plans

Thu, 29 Jul 2010 16:27:44 +0100

The new Government this week said it intended to press ahead with the previous administration’s plans to remove an employer’s option to retire staff at the age of 65.

Businesses remain optimistic âdespite limited success for UK firms in Q2â

Wed, 28 Jul 2010 18:23:58 +0100

The confidence of UK businesses continued to improve during Q2 of this year, despite the fact that business turnover has declined since the first quarter of 2010, according to the latest Business Factors Index from Bibby Financial Services.

Hitachi Capital (UK) PLC gears up for further growth with new senior management appointments

Wed, 28 Jul 2010 17:49:29 +0100

Hitachi Capital (UK) PLC, one of the UK’s leading finance providers and part of one of the world’s largest corporations, has announced the appointment of Chris Shirai as Chief Executive Officer following the retirement of CEO David Anthony.

Bank of England report acknowledges importance of buyer driven payables

Wed, 28 Jul 2010 10:43:52 +0100

Oxygen Finance, which provides a new procurement and accounts payable operating model, today announced its support for the Supply Chain Finance Working Group (SCFWG) report which champions Buyer Driven Payables Programmes as key to easing funding conditions in UK business.

Bibby Financial Services acquires Aston Rothbury Factors

Wed, 28 Jul 2010 09:36:22 +0100

Bibby Financial Services today announced that it has acquired the client portfolio of Aston Rothbury Factors, an independent factoring company based in Brentwood, Essex in the UK.

Tougher approach to banks backed by new research showing small firms struggling to access finance

Wed, 28 Jul 2010 09:24:42 +0100

Amid reports that the Government is getting tough with banks for failing to provide affordable lending to small firms, new research from the Forum of Private Business (FPB) shows that access to finance is worsening.

Small firms offered free business facilities through Forum membership

Wed, 21 Jul 2010 17:51:42 +0100

The Forum of Private Business (FPB) is providing all its paying members with complimentary Regus businessworld gold cards, which will give them free internet access, refreshments and professional administrative support.

Balance between cuts and growth must be struck for sustainable economic future â Cable

Tue, 20 Jul 2010 17:39:44 +0100

A plan to foster growth and lock in the recovery will be published today by the Business Secretary Vince Cable when he appears for the first time at the Business, Innovation and Skills Select Committee.

Only a third of UK firms see exports as their route to growth over the next year

Tue, 20 Jul 2010 17:15:20 +0100

The Government’s hopes that the UK economy will stage an export led recovery risk being dashed as new research reveals that just 34 per cent of UK SMEs view the export market as a route to growth over the next 12 months.

Nostrum appoints Business Development Manager

Tue, 20 Jul 2010 17:08:46 +0100

The Nostrum Group Limited ('Nostrum') has appointed Liz Archer as Business Development Manager at its head office in Harrogate with responsibility for developing both the Business Process Outsourcing (BPO) unit and instalment lending software provider icenet.

Positive labour market figures must be supported

Thu, 15 Jul 2010 11:00:56 +0100

Commenting on the labour market figures released today by the ONS, David Kern, Chief Economist at the British Chambers of Commerce (BCC), said:

Tinubu Square strengthens its position in Europe with the opening of a new office in London

Thu, 15 Jul 2010 10:48:25 +0100

Tinubu Square, European leader in innovative credit management solutions, is pleased to announce the opening of its new office in London. The London office, in charge of all UK operations, will be managed by Claire Pavillet.

Forum uses Freedom of Information Act to expose poorly-paying police forces

Thu, 08 Jul 2010 09:39:45 +0100

A small business support group has submitted Freedom of Information (FoI) Act requests to every police force in the UK in order to find out how quickly they pay their suppliers.

Begbies Traynor Bolsters Insolvency Offering with Five New Partner Promotions

Thu, 08 Jul 2010 07:53:43 +0100

Begbies Traynor, the UK’s leading business rescue, recovery and restructuring specialist today announces the promotion of five new partners from inside its insolvency practice, as the company continues to develop its national service offering.

Burdensome regulation âcould lead to smaller, more polarised credit marketâ

Thu, 01 Jul 2010 16:37:26 +0100

When considering any new regulation for consumer credit, the Government should take care to avoid unintended and potentially damaging consequences for lenders and their customers, Stephen Sklaroff, Director General of the Finance & Leasing Association (FLA) will tell delegates at the FLA Consumer Finance Conference today.

Â£1 billion fund to help regional business

Tue, 29 Jun 2010 15:49:56 +0100

Deputy Prime Minister Nick Clegg today launched a £1 billion Regional Growth Fund to help areas and communities at risk of being particularly affected by public spending cuts.

Modest pick-up in UK Financial Services Activity â CBI/PwC

Mon, 28 Jun 2010 16:44:55 +0100

Activity in UK financial services grew in the last three months at the fastest rate since September 2007. But this growth was much lower than expected and firms still considered levels of business to be well below normal, a new survey reveals today (Monday).

Bibby Financial Services urges UK importers to prepare now for Christmas orders

Mon, 28 Jun 2010 16:09:34 +0100

The summer may have only just begun, but specialist international trade finance provider Bibby Financial Services is calling on import business owners and managers to consider their inventory and ensure sufficient finances are in place to fulfil orders in advance of the festive season.

Computer giant Dell entered into late payment Hall of Shame

Mon, 28 Jun 2010 16:04:39 +0100

The Forum of Private Business (FPB) is entering Dell into its late payment Hall of Shame after the company extended the time it takes to pay suppliers by 15 days.

Emergency Budget: the response from small businesses

Fri, 25 Jun 2010 16:40:52 +0100

Almost half the small businesses surveyed by the Forum of Private Business are pleasantly surprised by the Budget but some fear tax rises and other concerns could lead to a double dip recession.

The City should welcome boost to UK competitiveness, according to BDO LLP

Wed, 23 Jun 2010 18:55:47 +0100

As The City digests George Osborne’s first Budget as Chancellor, new research from BDO LLP suggests that his measures to make UK a more attractive place to do business could not have come at a better time.

Clearwater strengthens Manchester office with double appointment

Wed, 23 Jun 2010 18:42:36 +0100

Clearwater Corporate Finance (“Clearwater”) has strengthened its Manchester team with the appointments of assistant director, John Clarke, and manager, Andy Strickland.

Emergency Budget - Comment from Bibby Financial Services

Tue, 22 Jun 2010 19:35:50 +0100

Commenting on today’s emergency Budget, Edward Rimmer, UK chief executive at specialist business finance provider, Bibby Financial Services, said:

FLA responds to Emergency Budget

Tue, 22 Jun 2010 19:29:07 +0100

Responding to the emergency Budget, Julian Rose, Head of Asset Finance at the Finance & Leasing Association (FLA) said:

Small business support group welcomes key Budget victories for SMEs

Tue, 22 Jun 2010 19:24:05 +0100

Small business support group the Forum of Private Business (FPB) has welcomed a number of key victories for SMEs in today’s Budget.

Media Statement on the Budget (VAT increase)

Tue, 22 Jun 2010 18:53:52 +0100

Steven Law, President of R3, the insolvency trade body, comments on the increase in VAT to 20% in today's Emergency Budget.

Thomas Eggar LLP assists on nutritious cash injection

Tue, 22 Jun 2010 18:41:50 +0100

Leading law firm Thomas Eggar LLP has assisted London-based Piper Private Equity with its £3m cash injection to Diet Chef - a business that delivers nutritionally balanced meals to customers. The robust funding package has left the Diet Chef brand standing on a solid foundation that will enable the business to grow and meet its ambitious expansion targets.

The City 'needs strong commitment from the Chancellor'

Mon, 21 Jun 2010 12:54:29 +0100

As the Chancellor puts the final touches to his greatly anticipated Emergency Budget speech, new research from BDO LLP suggests that The City is still feeling nervous about the impact of a coalition government and some international businesses have one eye on the door.

Businesses unanimous in their support for the coalition Government ahead of the emergency Budget

Fri, 18 Jun 2010 17:12:02 +0100

A recent straw poll* conducted by business finance provider Bibby Financial Services shows that the majority of UK firms feel the new coalition Government will improve the outlook for businesses in the UK.

MCR confirms no buyer secured to rescue Art Founders Limited

Fri, 18 Jun 2010 17:10:18 +0100

Matt Bond and Jason Godefroy of MCR, appointed joint administrators of Art Founders Limited t/a Morris Singer Art Foundry (“the Company”) on 14 May 2010, have confirmed that, notwithstanding significant marketing efforts, no sale of the business or its assets have been completed, despite reports that Mr Nasser Azam had rescued the business.

MCR confirms closure of five Vergo stores

Fri, 18 Jun 2010 14:38:26 +0100

Sarah Bell and Steven Muncaster, Partners at MCR and joint administrators of department store business Vergo Retail Limited (“the Company”), have today confirmed that five stores will close permanently this Saturday, 19 June 2010. Negotiations with prospective purchasers will continue for the remaining 10 stores still operating.

Business recovers at home and abroad

Thu, 17 Jun 2010 17:08:41 +0100

Businesses are starting to enjoy a recovery in markets at home and overseas as the economy slowly emerges from recession, according to delegates at the Coface - UK & Ireland Country Risk Conference. ...

Graydon goes interactive

Thu, 17 Jun 2010 15:53:53 +0100

A new comprehensive credit report service that has been developed using the latest interactive PDF and Flash technology is being launched this week to credit managers in the UK, by leading credit reference agency Graydon UK.

Budget must preserve âTime to Payâ tax scheme despite plans to cut deficit, says ...

Thu, 17 Jun 2010 15:51:47 +0100

Scrapping HM Revenue & Customs’ ‘Time to Pay’ scheme in next week’s Budget could force thousands of small firms struggling to manage tax payments into administration, the Forum of Private Business is warning.

Business investment is key to recovery, FLA tells Chancellor

Wed, 16 Jun 2010 13:01:23 +0100

The Finance & Leasing Association (FLA) has written to the Chancellor of the Exchequer in advance of next week’s emergency Budget, stressing the importance of helping business investment.

World Cup set to boost UK retail sales

Wed, 16 Jun 2010 09:44:37 +0100

British Retail Consortium (BRC) and Verdict Research are both predicting a rise in retail sales during the World Cup season, which is according to Phil Duffy, Partner at corporate restructuring and insolvency experts MCR, good news for the sector.

Currency fluctuations impacting overseas trading prospects for majority of UK small firms

Tue, 15 Jun 2010 11:16:05 +0100

Almost two thirds of small and medium sized businesses (SMEs) (63 per cent) believe that currency fluctuations are threatening their ability to trade overseas. This is compared with around a third of firms (31 per cent) who cite increased shipping costs as a significant threat to their cross border trade and around a quarter (28 percent) who cite the payment of additional import and export duties. ...

Budgetâs deficit reduction policies should go easy on small firms, says business group

Mon, 14 Jun 2010 17:21:37 +0100

The coalition government’s new Office for Budget Responsibility (OBR) has today downgraded the UK’s economic growth forecast. In response to these long-term projections of slower growth, the Forum of Private Business is calling for robust policies in next week’s Budget which reduce the national debt while stimulating small business growth.

HML appoints James Parker as Director of Client Relations

Mon, 14 Jun 2010 12:10:15 +0100

Leading financial outsourcer, HML, has appointed James Parker as Director of Client Relations.

Donât wait for emergency Budget to review cash flow, Bibby Financial Services urges SMEs

Mon, 14 Jun 2010 12:06:06 +0100

As the emergency Budget edges ever closer, firms must not forget that business must go on. It is now more important than ever to make sure the cash keeps on flowing, despite the uncertainty ahead in terms of cuts, funding options, and tax breaks for UK businesses.

Publishing house looks forward to bright future

Fri, 11 Jun 2010 13:20:27 +0100

Bright Red Publishing Ltd (“Bright Red”), a leading Scottish educational publisher, hopes to become the leading provider of premium educational material in the country, after securing a £180,000 funding line from Absolute Invoice Finance (“Absolute”).

Rising costs and fears of tax hikes hitting small business confidence ahead of Budget

Thu, 10 Jun 2010 10:56:20 +0100

With the ‘emergency’ Budget less than two weeks away, and rising costs fears over potentially damaging tax hikes are denting the confidence of small businesses, according to the latest Economy Watch survey from the Forum of Private Business (FPB).

Scotland is facing a declining rate of business start-ups

Thu, 10 Jun 2010 10:04:10 +0100

Responding to Sir Tom Hunter’s comment that Scotland is facing a declining rate of business start-ups, David Matthewson, Scotland sales director at specialist business finance provider, Bibby Financial Services, said:

Improvement in export volumes must be nurtured

Wed, 09 Jun 2010 16:34:29 +0100

Commenting on the April trade figures published today by the ONS, David Kern, Chief Economist at the British Chambers of Commerce (BCC), said:

Get prepared for the HMRC clampdown

Tue, 08 Jun 2010 12:59:09 +0100

HMRC has announced plans to seize an additional £4bn in revenue in 2010/11 through a more aggressive strategy that could leave blameless businesses facing unnecessary probes into their dealings, according to Quentin Pain, founder of accountancy software company, Accountz.

Bibby Financial Services emerges from the recession with a 24 per cent growth in new business

Tue, 08 Jun 2010 12:40:15 +0100

For many businesses, 2009 presented difficult trading conditions with many showing a downturn in trade. But as GDP figures rose in Q4 signalling an end to the recession, business finance provider Bibby Financial Services has reported a positive end to what global chief executive David Robertson describes as, “some of the most harrowing trading conditions of the last half century.”

Forum responds to governmentâs regulation-busting action plan

Thu, 03 Jun 2010 12:11:47 +0100

The Forum of Private Business (FPB) is responding to the coalition Government’s announcement of an ‘action plan’ to end excessive red tape.

Action plan announced to end excessive regulation

Wed, 02 Jun 2010 17:47:41 +0100

Business Secretary Vince Cable today announced an action plan to bring an end to the excessive regulation that is stifling business growth.

Forum advises employers to plan ahead for World Cup watching

Wed, 02 Jun 2010 17:43:47 +0100

With the World Cup just over a week away, the Forum of Private Business (FPB) is advising its members to plan ahead for the likelihood that some employees will take more of an interest in their team’s fortunes than their duties and want to watch games during work hours.

Businesses still failing to see value in cashflow management

Tue, 01 Jun 2010 17:31:23 +0100

Businesses are cutting back on recruiting accounts staff, even though their role in keeping the cash flowing is more vital than ever.

Has HMRC become the UKâs largest bank?

Tue, 01 Jun 2010 10:58:31 +0100

Company insolvencies have decreased in the first quarter of 2010 by 8.4% bringing the annualised figure to a total of 4,082, a decrease of 17.8% year-on-year. But according to Steve Clancy, Partner at MCR Tax Arrears Solutions, the figures though could be hiding a hidden tsunami of corporate failures, as HMRC increasingly flexes its muscles.

Permanent chief executive appointed at FSSC

Thu, 27 May 2010 10:31:54 +0100

The Financial Services Skills Council (FSSC), the independent, employer-led sector skills council for finance, accounting and financial services, today announced the appointment of Liz Field to the permanent position of Chief Executive, after it was required to recruit for a permanent Chief Executive following the renewal of its licence in March.

MCR appoints Gordon Titley as its first CEO

Thu, 27 May 2010 09:51:31 +0100

MCR has appointed its first Chief Executive Officer in a bold move to drive forward its strategic development, as it approaches its ten-year anniversary in 2011.

Comment on Queen's Speech by Bibby Financial

Tue, 25 May 2010 15:51:55 +0100

Commenting on the Queen’s Speech and the coalition Government's legislation plans, Edward Rimmer, UK chief executive at specialist business finance provider, Bibby Financial Services, said: “It is encouraging to hear that the coalition Government's first priority is to ‘reduce the deficit and restore economic growth’. However, plans to do this - mainly by cutting spending rather than increasing tax - are perhaps a double edged sword for UK businesses.

Forum highlights SME impact of Queenâs speech

Tue, 25 May 2010 15:45:50 +0100

The Forum of Private Business (FPB) has commented on the measures outlined in today’s Queen’s Speech.

LCH.Clearnet SA becomes FSA authorised Recognised Overseas Clearing House

Tue, 25 May 2010 15:19:50 +0100

LCH.Clearnet SA has been granted Recognised Overseas Clearing House (ROCH) status by the UK Financial Services Authority (FSA). Through this ROCH status, LCH.Clearnet SA is able to conduct any regulated activity in the United Kingdom which is carried out for the purpose of the provision of clearing services.

Leasing industry reports first upturn for 18 months

Mon, 24 May 2010 17:15:01 +0100

Figures published today show the first sign of an upturn in investment by British businesses using asset finance. The Finance & Leasing Association’s (FLA) latest figures show that asset finance (leasing and hire purchase) provided to UK businesses for investment in new equipment increased by 11% in March this year compared with the previous year, the first month of year-on-year growth since September 2008.

Small firms can show Whitehall how to do more with less, says Forum

Mon, 24 May 2010 16:47:57 +0100

Government departments could learn from SMEs when trying to manage shrinking budgets, according to the Forum of Private Business (FPB).

Absolute targets East of Scotland expansion with latest appointment

Sat, 22 May 2010 09:42:51 +0100

Absolute Invoice Finance (“Absolute”), the specialist business financier, has appointed Robert Muir as Associate Director to its Scotland office, to support the company’s expansion into the East of Scotland.

Coface announces a positive result for all of its businesses in the 1st quarter

Thu, 20 May 2010 19:47:25 +0100

The turnaround in Coface's accounts, which started in the 4th quarter of 2009, is confirmed in the 1st quarter of 2010 with net income of €15m thanks to the Insurance line becoming profitable again, €401m in turnover driven by factoring, and on the recovery compared to the 4th quarter of 2009 and reinforced financial solidity thanks to these positive results, an improvement in the risk profile and a €175m capital increase.

Forum reacts to release of full coalition agreement

Thu, 20 May 2010 19:25:02 +0100

The Forum of Private Business (FPB) has reacted to the publication of the full coalition agreement between the Conservative and Liberal Democrat parties.

Debt reduction plans backed by three quarters of small firms

Wed, 19 May 2010 08:07:15 +0100

More than three quarters of small firms back moves to tackle Britain’s record deficit, a new Forum of Private Business (FPB) survey has found.

Absolute Invoice Finance strengthens central risk team

Fri, 14 May 2010 17:17:54 +0100

Absolute Invoice Finance (“Absolute”), the specialist business financier, has appointed Stephen Harpur as central risk manager, as the business continues to bolster its growing central risk team.

BCC comments on appointment of Vince Cable as Business Secretary

Fri, 14 May 2010 09:54:14 +0100

Commenting on Vince Cable’s new appointment as Business Secretary, David Frost, Director General of the British Chambers of Commerce (BCC), said:

Recruitment firm on fighting form

Thu, 13 May 2010 16:46:29 +0100

A leading recruitment firm to the construction industry, Allander Consulting Limited, is looking to capitalise on opportunities in the renewable energy sector after securing £150,000 funding from Absolute Invoice Finance (“Absolute”).

New national insurance policy 'better for small firms and jobs'

Wed, 12 May 2010 17:36:48 +0100

The Forum of private Business (FPB) is welcoming the new Liberal Democrat and Conservative coalition government’s decision to scrap the planned 1% hike in employers’ national insurance (NI) for many staff members, a policy that had been met with strong opposition from business groups.

Business group welcomes new PM and imminent Tory/Lib Dem coalition

Tue, 11 May 2010 22:39:41 +0100

The Forum of Private Business (FPB) has given a cautious welcome to the appointment of the new Prime Minister, David Cameron, and his stated intention to form a coalition government between his party and the Liberal Democrats.

Political leaders must help the MPC to sustain fragile recovery

Mon, 10 May 2010 18:00:21 +0100

Commenting on today’s Monetary Policy Committee (MPC) decision, David Kern, Chief Economist at the British Chambers of Commerce (BCC), said:

BBA Small Business Support - March figures

Mon, 10 May 2010 17:39:34 +0100

British Bankers Association (BBA) statistics director, David Dooks, said of the latest data:

Small firms urgently need post-election certainty, warns business group

Fri, 07 May 2010 16:57:41 +0100

The Forum of Private Business (FPB) has commented on the high likelihood of a hung Parliament.

Office move sees Absolute take 4,057 sqft. in Maidstone business park

Thu, 06 May 2010 17:41:09 +0100

Absolute Invoice Finance (“Absolute”), the specialist business financier, has taken 4,057 sqft. at the prestigious Turkey Mill business park in Maidstone. The move to significantly larger premises follows the expansion of Absolute’s sales and management teams in the region.

ING Commercial Banking makes key hire in Syndicated Finance team

Thu, 06 May 2010 16:59:54 +0100

ING Commercial Banking has hired Kim Bailes as a Senior Sales Director in its London based Syndicated Finance team.

Azule Finance celebrates Â£50 million milestone in Export Finance Division

Wed, 05 May 2010 19:54:45 +0100

Azule Financ today released figures from its Export Finance division, which demonstrated its success in expanding its bespoke finance and consultancy solutions beyond the broadcast industry. In just eight months, the division that is spearheaded by Managing Director Emma Nelson, has reported over £50 million turnover. The rapid growth of the Export Finance division proves the appetite for niche export finance, consultancy and training for the broadcast industry and beyond.

David Bell joins Arum

Wed, 05 May 2010 19:33:37 +0100

Credit management specialist, Arum, has appointed David Bell as Senior Credit & Collections Business Consultant with effect from 19 April 2010.

Real Life Skills for Real Life Apprentices

Wed, 05 May 2010 19:20:34 +0100

Salford City Reds are delighted to announce that Ideal Solutions Group (ISG) is the official sponsor of Salford City Reds Academy and youth teams for the 2010 season.

Small businesses see election as platform for change but feel threatened by uncertainty

Tue, 04 May 2010 17:58:04 +0100

Business owners see Thursday’s election as an opportunity to change Britain’s enterprise culture for the better, with one in five intending to vote for the party they hope will manage the economy most effectively, according to new research from the Forum of Private Business (FPB).

OFT drops a number of allegations against Tesco in Dairy investigation

Fri, 30 Apr 2010 12:24:41 +0100

The Office of Fair Trading (OFT) has decided to drop certain allegations against Tesco as part of its Dairy investigation, at the same time as agreeing a penalty discount in recognition of Tesco notifying the OFT that it does not intend to contest the remaining aspects.

OFT update on Dairy investigation

Fri, 30 Apr 2010 12:20:22 +0100

The Office of Fair Trading (OFT) has today published an update on its Dairy investigation (alongside a separate announcement that the OFT has today made in relation to Tesco).

Care provider accelerates growth with Absolute funding

Thu, 29 Apr 2010 15:56:58 +0100

Gray Healthcare, a leading UK provider of specialist domiciliary care and support services to patients with complex mental health needs, is aiming to dramatically increase headcount over the next three years having secured a £300,000 funding line from Absolute Invoice Finance (“Absolute”).

New Government must create viable alternative to bank lending to address ongoing funding issues

Thu, 29 Apr 2010 10:40:03 +0100

The Liberal Democrats’ election pledge to re-establish the UK’s network of regional stock exchanges should be adopted by whichever party forms the next Government in order to provide an additional source of funding for businesses, says commercial credit referencing agency Graydon UK.

Forum helps party leaders brush up on small business issues ahead of tonightâs TV debate

Thu, 29 Apr 2010 09:22:25 +0100

The Forum of Private Business (FPB) has sent all would-be MPs a special guide outlining key facts and figures regarding small and medium-sized enterprises (SMEs).

What small businesses want to hear from the final TV debate

Wed, 28 Apr 2010 18:12:42 +0100

As the leaders of the three main political parties join for the final of the groundbreaking televised debates tomorrow (Thursday 29 April), the Federation of Small Businesses (FSB) has raised key arguments which it believes are vital to strengthening economic recovery that each party leader should answer to.

Target Group introduces âLender Launchpad,â a service innovation that unlocks ...

Wed, 28 Apr 2010 16:57:14 +0100

New lenders face a host of challenges including obtaining wholesale funding, swiftly establishing a stable and compliant operation, designing and implementing systems and recruiting the right team. In parallel wholesale banks are eager to retain long term control of funds, and de-risk the lending decision.

BNP Paribas adds to Global MTN platform with appointment of Smit Acharya

Tue, 27 Apr 2010 17:38:34 +0100

BNP Paribas Corporate & Investment Banking (‘BNP Paribas’) is pleased to announce the appointment of Smit Acharya as a Senior MTN Trader to its Global MTN platform. Smit joins BNP Paribas in July 2010 and will report to Marc Falconer, who was recently appointed Global Head of MTNs and Private Placements.

Growing business unease over prospect of a hung parliament

Mon, 26 Apr 2010 15:51:19 +0100

Nearly two thirds of businesses (65%) are “concerned” or “very concerned” about the potential impact of a hung parliament, according to the British Chambers of Commerce’s (BCC) latest Monthly Business Survey.

FSA consults on use of certain new powers granted by the Financial Services Act 2010

Mon, 26 Apr 2010 11:53:25 +0100

The Financial Services Authority (FSA) has today issued a consultation paper setting out proposals on using new powers granted by the Financial Services Act 2010.

Comment from Bibby Financial Services on today's GDP figures

Fri, 23 Apr 2010 17:34:25 +0100

Commenting on the announcement that preliminary data shows UK GDP for Q1 2010 has risen by 0.2 per cent, Edward Rimmer, UK chief executive of Bibby Financial Services said:

Energy now as big a risk as health and safety, say businesses

Thu, 22 Apr 2010 17:24:19 +0100

Energy now presents the same level of risk to businesses as health and safety and security. This is among the findings of npower’s Business Energy Index (nBEI), an annual survey tracking business opinion on energy use and carbon emissions, released today.

Iceland volcano: Forum advises businesses how to manage stranded staff

Tue, 20 Apr 2010 17:15:48 +0100

The Forum of Private Business (FPB) is advising smaller employers affected by the volcano in Iceland erupting to be flexible with stranded staff – but know when to draw the line on unpaid leave.

Absolute Invoice Finance strengthens Midlands team

Tue, 20 Apr 2010 13:13:16 +0100

Absolute Invoice Finance (“Absolute”), the specialist business financier, has appointed James Cresswell as regional manager in its Midlands office, in response to strong demand from the region’s SMEs for alternative funding solutions.

Equality Act guidance may leave small firms confused, Forum warns

Fri, 16 Apr 2010 17:22:24 +0100

Guidance drawn up to help employers understand the Equality Act may prove baffling to smaller firms, the Forum of Private Business (FPB) has warned.

Trevor Matthews to chair Financial Services Skills Council

Wed, 14 Apr 2010 10:54:00 +0100

The Financial Services Skills Council (FSSC), the independent, employer-led sector skills council for finance, accounting and financial services, today announced the appointment of Trevor Matthews as Chairman. The news comes just days after a panel of ministers endorsed the FSSC’s new strategy, awarding a renewed licence to the organisation, which helps UK businesses achieve global competitiveness through investment in skills.

Free financial management skills for SMEs

Tue, 13 Apr 2010 16:05:01 +0100

The Institute of Chartered Accountants in England and Wales (ICAEW) and the Forum of Private Business (FPB) have joined forces to help small to medium-sized enterprises improve their financial management skills.

Venture Q1 results reveal canny business behaviour behind recovery

Mon, 12 Apr 2010 12:29:02 +0100

Venture Finance has reported increases in new client numbers for the third quarter running. The independent Invoice and Asset Based Lender has witnessed an increase of over 75 per cent in its Q1 new client numbers, compared with Q1 2009. New clients taking Bad Debt Protection to shield against customer insolvency also grew by over a third. These figures support an emerging trend of a better-organised and prepared class of businesses, seasoned by the recession.

Absolute Invoice Finance strengthens South West team

Fri, 09 Apr 2010 15:50:22 +0100

Absolute Invoice Finance (“Absolute”), the specialist business financier, has appointed Mark Bennett as regional manager in its South West and Thames Valley office, based in Abingdon.

Absolute Invoice Finance appoints deputy finance director

Thu, 08 Apr 2010 16:13:15 +0100

Specialist business financier, Absolute Invoice Finance (“Absolute”), has strengthened its management team with the appointment of Scott Braybrook as deputy finance director.

MPC must focus on sustaining the fragile recovery, says BCC

Thu, 08 Apr 2010 13:21:07 +0100

Commenting on today’s Monetary Policy Committee (MPC) decision, David Kern, Chief Economist at the British Chambers of Commercev (BCC), said:

FSA issues fines totalling Â£4.2m for transaction reporting failures

Thu, 08 Apr 2010 11:35:23 +0100

The Financial Services Authority (FSA) has fined three firms a total of £4.2m for failing to provide accurate and timely transaction reports to the FSA.

Business Failures in 2009 Buck Recessionary Trend

Wed, 07 Apr 2010 16:38:41 +0100

Fast and bold monetary policy response and lessons learned from previous downturns have helped soften the blow to business.

BCC Economic Survey: Double-dip avoided but risks to the economy remain

Wed, 07 Apr 2010 16:35:52 +0100

Results from the Quarter 1 2010 British Chambers of Commerce (BCC) Economic Survey – published a day ahead of the MPC’s April rate setting decision – show that the UK’s upturn is still on course and the economy has not slipped back into recession. However, the recovery is weak and serious risks of a setback remain.

Forum lays out vital small firm-friendly measures in Election Manifesto

Tue, 06 Apr 2010 17:12:45 +0100

The next government urgently needs to rebalance workplace law in favour of employers, according to the Forum of Private Business (FPB).

Economic improvements overshadowed by late payment, according to latest barometer of small business

Thu, 01 Apr 2010 17:33:34 +0100

Improvements in orders and turnover experienced by small firms are being overshadowed by cash flow difficulties as a result of late payment, the latest Economy Watch member panel survey from the Forum of Private Business suggests.

MCR completes sale of retailer Ethel Austin

Thu, 01 Apr 2010 16:39:41 +0100

MCR, the administrators of value clothing retailer Ethel Austin has announced a sale of the company’s business and assets that includes 90 of its stores to Life & Style Retail Limited, a newly incorporated company set up by Ethel Austin’s former owner Elaine McPherson. The agreement was completed on 31 March 2010, with effect from 26 March 2010.

Small Business Credit Adjudicator task force launched

Thu, 01 Apr 2010 09:05:52 +0100

A new task force to advise the Government on how to ensure small companies are treated fairly and properly when accessing bank finance was today launched by the Department for Business.

Peter Sargent comments on today's announcement of a consultation on pre-packs

Wed, 31 Mar 2010 15:34:06 +0100

Peter Sargent, President of R3, the insolvency trade body says: “While we welcome any consultation that looks at pre-packs we question the justification used to introduce it. The perception that pre-pack rules need ‘strengthening’ derives largely from the Insolvency Service’s own misreporting on pre-packs, namely the claim that ‘more than a third of SIP 16 disclosure statements were not fully compliant’. In fact as few as 7% of SIP 16 reports were ...

Government emphasises need for transparency in âpre-packsâ

Wed, 31 Mar 2010 13:55:33 +0100

Business Minister Ian Lucas has taken decisive steps to ensure confidence in the pre-packaged administration sale process with a range of possible new measures aimed at making the system more open.

Â£1.9 billion a year wasted chasing late payment

Wed, 31 Mar 2010 11:55:04 +0100

UK businesses are pouring money down the drain chasing late payment and this could be costing the small business community as much as £1.9 billion a year.

Businesses feel the Â£900m strain in 2009

Wed, 31 Mar 2010 10:30:44 +0100

The value of County Court Judgments (CCJs) against businesses in England and Wales in 2009 reached a total of £899m, according to figures released today (date), by Registry Trust Ltd.

Success of guides prompts new videos from Lord Sugar

Tue, 30 Mar 2010 13:50:44 +0100

The success of the Institute of Credit Management’s (ICM) Managing Cashflow guides, which small businesses have now downloaded more than 120,000 times, has led to a second edition being published alongside a suite of videos featuring Lord Sugar.

Equifax credit communities help businesses

Tue, 30 Mar 2010 13:00:49 +0100

Leading business intelligence expert, Equifax, is spearheading a number of initiatives to give the UK’s commercial community the very latest good and bad news on the credit behaviour of customers.

ICM Road Show hits historic heights with next stop

Mon, 29 Mar 2010 16:26:42 +0100

The Institute of Credit Management’s (ICM) next regional road show event is to be held in the dramatic surroundings of Edinburgh Castle on April 22.

Impact of recession on client retention is keeping two thirds of UK business owners awake at night

Mon, 29 Mar 2010 16:20:15 +0100

Despite recent signs of economic growth and a reported upturn on the horizon, a staggering 63 per cent of UK business owners continue to worry about losing clients.

Venture Finance "plugs the gap" for start-up

Mon, 29 Mar 2010 11:07:27 +0100

Venture Finance has provided Haines Distribution, a start-up supplier of plumbing and heating materials, with a £250k Factoring package which includes Bad Debt Protection. Haines Distribution was attracted to Venture's record of consistent lending throughout the recession, and the premier Invoice and Asset Based Lender turned the deal around within two weeks of introduction.

Conservative NICs proposals would help roll back âtax on jobsâ

Mon, 29 Mar 2010 10:48:33 +0100

Responding to the Conservatives’ proposal to roll back planned increases in National Insurance, David Frost, Director General of the British Chambers of Commerce (BCC), said:

Nine out of ten small firms unhappy over Budget 2010

Fri, 26 Mar 2010 16:36:21 +0100

More than nine out of ten smaller businesses were left disappointed by this week’s Budget, a snap poll has revealed.

Bibby Financial Services sets up small business fund to help where Government support has failed

Fri, 26 Mar 2010 12:17:31 +0100

Specialist business finance provider Bibby Financial Services has today announced a multi-million Pound offering to support small businesses in the UK.

Government responds to industry support for FSSC strategy

Fri, 26 Mar 2010 11:57:26 +0100

The Financial Services Skills Council (FSSC) today hailed the Government’s decision to renew its licence as a positive response to resounding industry support for its new strategy. The FSSC is the independent, employer-led sector skills council for finance, accountancy and financial services, a strategic body with the remit of ensuring that employers’ needs for skills are met.

Venture Finance turns would-be headhunter into new client

Thu, 25 Mar 2010 17:44:31 +0100

It is not often a recruitment consultancy on the search becomes the subject of a successful sales pitch. However, that is exactly what happened with KCMB Recruitment Ltd and Venture Finance recently.

David Button announced as new Chair of Co-operatives UK

Thu, 25 Mar 2010 17:07:31 +0100

Co-operatives UK, the national trade body that campaigns for co-operation, has announced the election of a new Chair.

Forum celebrates key victories for small firms in Budget

Thu, 25 Mar 2010 16:51:53 +0100

The Forum of Private Business (FPB) has highlighted several key small business-friendly measures included in this week’s Budget.

Budget reaction â Forum of Private Business statement

Wed, 24 Mar 2010 15:49:34 +0100

Forum welcomes emphasis on small business - but warns against electioneering

Two and two won't make four - Darling's proposals still won't add up for small businesses

Wed, 24 Mar 2010 15:34:15 +0100

Commenting on the Budget proposals for small businesses, Edward Rimmer, UK chief executive at specialist business finance provider, Bibby Financial Services, said: “Darling’s list of four measures designed to support small and medium-sized businesses simply doesn’t add up. Nor does the package go far enough to help UK businesses play their part in driving economic growth.”

Budget - comment from Venture Finance

Wed, 24 Mar 2010 15:17:53 +0100

In response to today's Budget announcement that £94bn of proposed business lending will come through the state owned banks, Peter Ewen, Managing Director, Venture Finance PLC comments:

BNP Paribas announces Global Debt Syndicate changes

Wed, 24 Mar 2010 13:01:08 +0100

BNP Paribas Corporate & Investment Banking (‘BNP Paribas’) is pleased to announce strategic changes to the BNP Paribas Global Debt Syndicate platform. These will underpin the bank's commitment to the expansion of its Primary Market capabilities throughout the world across all currencies and instruments.

Aspect Appoints Steve Boakes as Channels and Partners Manager, Northern Europe

Wed, 24 Mar 2010 12:47:35 +0100

Aspect, a global provider of unified communications (UC) and collaboration services and software, announces the appointment of Steve Boakes as channels and partners manager, Northern Europe.

Aspect Marks Two-Year Anniversary of Global Strategic Alliance and Equity Investment with Microsoft

Tue, 23 Mar 2010 16:55:06 +0100

Aspect, a global provider of unified communications (UC) and collaboration services and software, today announced that it has marked the two-year anniversary of its global strategic alliance with Microsoft Corporation.

Target Group reports impressive growth and expansion plans

Tue, 23 Mar 2010 16:36:31 +0100

Target Group, a leading specialist in lending software and financial outsourcing, has experienced a significant increase in annual turnover, with revenues rising from £11.1 million to £22.2 million between 2006 and 2009. Over the past year, turnover increased by 22.5%.

Absolute outlines Budget wish list

Tue, 23 Mar 2010 16:28:29 +0100

Specialist business financier, Absolute Invoice Finance, has urged Alistair Darling to tangibly demonstrate his commitment to the SME sector in what could potentially be his last Budget Report as Chancellor of the Exchequer.

Creditsafe achieves âone to watchâ status in Best Companies Accreditation 2010

Tue, 23 Mar 2010 16:19:18 +0100

Creditsafe, the business intelligence experts, is pleased to announce it has achieved One to Watch Status in the Best Companies Accreditation 2010. The award is in recognition of Creditsafe’s ongoing commitment to employee engagement and its focus on offering its employees tailored opportunities for training and development.

Lower inflation reinforces case for MPC to maintain expansionary approach

Tue, 23 Mar 2010 16:11:25 +0100

Commenting on the February inflation figures released today by the ONS, David Kern, Chief Economist at the British Chambers of Commerce (BCC), said:

Only one in five small firms concerned about the Budget, survey finds

Mon, 22 Mar 2010 17:18:44 +0100

Barely a fifth of small business owners believe this week’s budget will have a significant impact on their firms, according to new research.

Economic recovery will be slow and sluggish into 2011 - new CBI forecast

Mon, 22 Mar 2010 12:32:49 +0100

The recovery in the UK economy is expected to remain sluggish during 2010, and will not pick up much pace until the middle of next year, the Confederation of British Industry (CBI) said today.

Developers must adopt Consumer Code of Practice for second-hand properties

Mon, 22 Mar 2010 11:27:23 +0100

Property specialists movewithus is urging developers to include second-hand property transactions within the new Consumer Code for Home Builders, which comes into force next month.

Food for Thought for Jailed Bankrupt Who Was a âMenace to Commerceâ

Sun, 21 Mar 2010 12:07:10 +0100

A former bankrupt director of a food company from Leicester has been sentenced to sixteen months in prison for running a company and obtaining credit whilst bankrupt following a prosecution by the Department for Business, Innovation and Skills (BIS).

ACF Car Finance charity fundraising...

Fri, 19 Mar 2010 16:09:18 +0100

Dear Associates - I’ve personally pulled together a group of 15 colleagues at ACF Car Finance to run the 2010 Bupa Great Manchester Run (10k) on behalf of BEN, our company’s elected charity. This really is going to be a personal challenge for me as it means I’m going to have to train hard and with only 10 weeks until race day I haven’t got long to get into shape!

Help small firms spearhead economic recovery, urges business support group

Fri, 19 Mar 2010 15:01:15 +0100

Next week’s Budget should put in place radical measures aimed at helping small firms spearhead economic recovery, according to the Forum of Private Business (FPB).

Latest Asset Based lending statistics 'show promise'

Fri, 19 Mar 2010 14:53:28 +0100

Asset based lending (ABL) facilities dropped by 8% to £191.3 billion in the year ending 2009 (2008: about £207.7 billion), according to the British Asset Based Finance Association (ABFA). At the same time, Grant Thornton sees increasing competition among lenders who wish to participate in ABL transactions. Moreover, quarterly advances in the year ended 31 December 2009 showed promise, with an upward trend noted in Q1 to Q4.

Opportunities and challenges in the downturn 'just like in the 1970s'

Thu, 18 Mar 2010 16:22:10 +0100

The present economic downturn can be a catalyst for growth and better business support, according to the Chief Executive of the Forum of Private Business (FPB), Phil Orford, who was speaking at the Forum’s business support event in Manchester yesterday.

Bibby Financial Services urges banks to explain lending decisions

Thu, 18 Mar 2010 12:22:39 +0100

Responding to recent research calling for banks to explain lending decisions, Edward Rimmer, Bibby Financial Services’ chief executive for the UK, said:

Funding priorities have shifted from cost to service for UK business

Thu, 18 Mar 2010 12:18:11 +0100

UK businesses will prioritise reliable service ahead of best price when choosing a funding provider during the recovery, according to an industry think tank hosted by premier Invoice and Asset Based Lender Venture Finance. Recent experiences ranging from a lack of available credit to the withdrawal of facilities with little or no warning will cause firms to consider other, more relationship-based, funding avenues.

Positive unemployment figures continue to mask worrying trends

Wed, 17 Mar 2010 11:23:28 +0100

Commenting on the labour market figures published today by the ONS, David Kern, Chief Economist at the British Chambers of Commerce (BCC), said:

Forum urges councils to use LABGI funding to boost small business hardship relief

Tue, 16 Mar 2010 12:40:30 +0100

The Forum of Private Business (FPB) is urging local councils to use the £50 million awarded by the Government’s Local Authority Business Growth Incentives (LABGI) scheme to provide additional hardship relief for small firms.

Jobs secured as UK 'Market Leader' acquired in buy out

Mon, 15 Mar 2010 17:27:58 +0100

An innovative West Midlands engineering company which has developed high performance, energy saving liners for users of furnaces, kilns and ovens throughout Europe, has been sold to the company's management.

Forum of Private Business announces key changes providing tailored support for small firms

Thu, 11 Mar 2010 13:24:30 +0100

The business landscape is changing. With economic conditions still extremely challenging, research from the Forum of Private Business (FPB) shows that 66% of businesses want external support – including someone to talk to for advice and information.

Disappointing manufacturing figures renew âdouble dipâ whispers

Wed, 10 Mar 2010 18:29:57 +0100

The UK economy, it seems, can’t catch a break. Data released this morning has shown a sharp fall in output for UK manufacturing.

UK firms given the chance to win Â£5,000 to help their business grow

Wed, 10 Mar 2010 18:26:04 +0100

Bibby Financial Services, the specialist factoring and invoice discounting provider, is offering a £5,000 cash prize as part of its efforts to support businesses across the UK.

British manufacturing struggling to enter a sustainable recovery

Wed, 10 Mar 2010 13:39:54 +0100

Commenting on the manufacturing output figures for January 2010, David Kern, Chief Economist at the British Chambers of Commerce (BCC), said:

PRCM Advisers, LLC goes live with ePAMÂ® from Princeton FinancialÂ® Systems

Wed, 10 Mar 2010 11:35:32 +0100

Princeton Financial® Systems (PFS), a leading provider of accounting, compliance, data management, performance measurement and reporting solutions for the global investment industry, is pleased to announce that it has added PRCM Advisers, LLC, the external manager for Two Harbors Investment Corp., a newly formed Real Estate Investment Trust (REIT), to its client roster.

Credit Suisse chooses Target Loan Servicing again to manage fixed term deposit portfolio

Wed, 10 Mar 2010 11:27:19 +0100

Credit Suisse has appointed leading financial outsourcing provider, Target Loan Servicing, to manage and service its fixed term deposit portfolio.

Recession-fighting firms focusing on sales and marketing, survey finds

Tue, 09 Mar 2010 15:14:58 +0100

Small businesses are hoping to beat the recession by stepping up their sales and marketing strategies, a new survey has revealed.

New Director for MCR

Tue, 09 Mar 2010 10:01:20 +0100

Thish De Zoysa has joined MCR, the corporate restructuring and insolvency specialist, as Director. Thish, a qualified chartered accountant, has spent a number of years in audit and business assurance, with over 8 years in corporate restructuring. Thish was previously with the business restructuring team at one of the UK’s leading accountancy firms.

âIncubatorâ firm sees ten-fold increase in City workers wishing to set up businesses

Mon, 08 Mar 2010 16:55:15 +0100

Sturgeon Ventures LLP, the ‘regulatory incubator’, has seen the number of inquiries from City workers looking for help to set up their own businesses rise ten-fold in the last three months.

Budget 'must deliver convincing plan for public finances'

Mon, 08 Mar 2010 15:34:09 +0100

The Confederation of British Industry (CBI) is urging the Government to use its last Budget before the election to set out more details of spending plans for government departments in order to boost confidence in the UK’s public finances and provide economic stability.

BCC downgrades medium-term GDP expectations as risks of a setback heighten

Mon, 08 Mar 2010 13:06:37 +0100

Ahead of the Chancellor’s Budget, expected this month, the British Chambers of Commerce (BCC) has today published its latest Economic Forecast. The business group maintains a prediction of 1.0% GDP growth in 2010, but it has downgraded its growth expectations for 2011 because the obstacles to a sustained medium-term recovery now appear greater.

FSA finalises far-reaching overhaul of UK liquidity regulation

Mon, 08 Mar 2010 12:17:33 +0100

The Financial Services Authority (FSA) has published its final rules on the liquidity requirements expected of firms. The far-reaching overhaul, designed to enhance firms’ liquidity risk management practices, is based on the lessons learned since the start of the credit crisis in 2007. The new rules will require changes to firms’ business models and will bring about substantial long-term benefits to the competitiveness of the UK financial services sector.

Absolute lifts Hull firm to new heights

Mon, 08 Mar 2010 12:03:51 +0100

Absolute Invoice Finance (“Absolute”), the specialist business financier, has supported the £1million acquisition of J.W. O’Pray & Sons Limited (“O’Prays”) by Pearson and Curtiss Limited (“Pearson and Curtiss”) with a package of facilities including a group invoice finance facility.

One in five small businesses refused bank loans left in dark over why

Mon, 08 Mar 2010 09:59:57 +0100

One in five small and medium sized businesses who have been refused funding do not know why their bank rejected their loan application, according to research carried out by commercial credit reference agency Graydon UK and business support organisation the Forum of Private Business (FPB).

Beware the âcowboyâ rating surveyors, warns business group

Fri, 05 Mar 2010 13:15:33 +0100

Small businesses are being urged to be wary of ‘cowboy’ rating surveyors attempting to profiteer from the recent rates revaluation.

Time is 'running out' for backdated business rates appeals

Wed, 03 Mar 2010 17:22:35 +0100

Small firms are being warned that they have less than a month left if they want to contest their business rates over the past five years, according to the Forum of Private Business (FPB).

HMRC business support hits Â£5billion

Wed, 03 Mar 2010 16:02:20 +0100

HM Revenue & Customs' Business Payment Support Service (BPSS) has helped over 160,000 businesses reschedule more than £5billion of tax in its first 15 months, new figures reveal today.

HSBC hires new global head of Equity Capital Markets

Tue, 02 Mar 2010 16:26:47 +0100

HSBC today announced the appointment of John Crompton as Global Head of Equity Capital Markets. Starting in April 2010, Crompton will be based in London and will report to Kevin Adeson, Head of Global Capital Financing.

A Success Story through the Recession

Tue, 02 Mar 2010 09:29:58 +0100

DCS Ltd is a specialist Credit Management Recruitment and Training company and was founded in 2007. As they enter their 4th year of trading they have seen the company double in growth each year.

UK banks call for care, clarity & costs to be understood

Mon, 01 Mar 2010 19:30:00 +0100

The importance of the UK as an international financial centre was brought home to EU officials when a high level group of British bankers met the new EU Internal Market Commissioner Michel Barnier today. The dinner was hosted by Angela Knight of the British Bankers' Association.

Small businesses fail to grow 'because of complex tax rules'

Mon, 01 Mar 2010 17:18:30 +0100

Research carried out by the Federation of Small Businesses (FSB) and ICM Research of over 1,600 small businesses showed that 75 per cent of small businesses believe that they would be able to grow their business if the UK tax system was simplified.

Business coalition: âSay no to employer National Insurance Contributions increaseâ

Mon, 01 Mar 2010 16:56:25 +0100

The UK’s leading business groups have formed a unique coalition promoting an internet petition that calls for the 1% employer National Insurance Contributions increase - planned for April 2011 - to be scrapped.

Rise in NICs could affect growth of small businesses

Fri, 26 Feb 2010 14:49:36 +0100

The Chancellor’s decision to increase employers’ National Insurance Contributions (NICs) by an extra 0.5 per cent from April 2011 is causing much concern within the small business community, as many companies fear the rise may have a significant effect on the growth of the economy and firm’s hiring decisions.

Investec acquires Leasedirect Finance

Fri, 26 Feb 2010 13:01:05 +0100

Investec is pleased to announce the acquisition of a 75% share of capital of LDF.

Scottish SMEs turn to alternative funding to grow during downturn

Thu, 25 Feb 2010 16:13:47 +0100

Financially savvy Scottish business owners are increasingly turning to alternative funding as a method of riding out the continuing effects of the economic downturn, according to new figures from the Scotland office of specialist business financier, Absolute Invoice Finance (“Absolute”).

One Optical focuses on fashion after funding boost

Thu, 25 Feb 2010 16:10:23 +0100

A manufacturer and supplier of prescription lenses and glasses frames is eyeing further expansion into the fashion eyewear market after securing a six figure working capital facility from Absolute Invoice Finance (“Absolute”).

Figures show small firms losing out on energy deals compared to big businesses

Wed, 24 Feb 2010 16:36:54 +0100

With figures suggesting big companies are able to secure far better energy prices than small businesses the Forum of Private Business (FPB) is urging firms to shop around for better deals.

Absolute targets North East for growth

Wed, 24 Feb 2010 16:18:34 +0100

Absolute Invoice Finance (“Absolute”), the specialist business financier, has appointed regional sales manager, Peter Cromarty, to spearhead the firm’s expansion into the North East.

FPB criticises EU maternity pay proposals

Wed, 24 Feb 2010 12:09:13 +0100

The Forum of Private Business (FPB) has hit out at the European Parliament’s plans to introduce full pay for the first 20 weeks of maternity leave.

EIB funding initiative 'not revolutionary'

Tue, 23 Feb 2010 13:04:23 +0100

Small businesses across the UK were given a boost recently, as the European Investment Bank’s (EIB) announced it would provide over £700 million of funding to nearly 3,000 small firms through participating national banks.

'Think smallest first' when policy-making

Mon, 22 Feb 2010 17:04:40 +0100

Legislators need to think smallest first in order to safeguard the future of Britain’s small firms, according to the Forum of Private Business (FPB).

The billion pound plan to help Britain stay out of recession

Mon, 22 Feb 2010 16:57:45 +0100

As Britain heads out of its longest recession in modern history, the UK’s retailers are giving three cheers to the prospect of retail recovery. But, is the road ahead as smooth as it may seem? Gerald Grimes is the man fronting Hitachi Capital’s billion pound plan, which aims to facilitate consumer spending, and help Britain stay out of recession through cementing retail recovery.

Government holds the key to recovery for UK construction sector says Bibby Financial Services

Mon, 22 Feb 2010 12:38:27 +0100

The UK construction industry is just about holding on to glimmers of hope for recovery, reveals the recent Construction Trade Survey which shows a continued decline in the sector during the final quarter of 2009.

UK manufacturing production expected to edge higher - CBI

Thu, 18 Feb 2010 17:40:54 +0100

Growth in UK manufacturing production is expected to pick up slightly over the next three months with firms the most positive about output for almost two years, according to the CBI. But the business group warned that prospects for the sector remain muted, as overall demand remains weak.

Disappointing borrowing figures highlight need for a credible spending plan

Thu, 18 Feb 2010 17:29:46 +0100

Commenting on the January public finance figures published today by the ONS, David Kern, Chief Economist at the British Chambers of Commerce (BCC), said:

Glasgow stock broker firm fined Â£101,500

Thu, 18 Feb 2010 17:19:52 +0100

The Financial Services Authority (FSA) has fined Glasgow-based stock broking firm Direct Sharedeal Limited (DSL) £101,500 after its appointed representative, First Colonial Investments LLP (FCI), used misleading sales pitches which failed to set out the inherent risks of buying penny shares.

Increase in job listings 'indicates credit industry in recovery'

Thu, 18 Feb 2010 16:57:42 +0100

The credit industry is showing signs of recovery following 0.1% growth in the final quarter of 2009.

Resilient labour market figures still mask worrying trends

Wed, 17 Feb 2010 17:16:20 +0100

Commenting on the labour market figures, published today by the ONS, David Kern, Chief Economist at the British Chambers of Commerce (BCC), said:

Comment on meager take-up of the EFG by Bibby Financial

Wed, 17 Feb 2010 15:32:01 +0100

Commenting on the meager take-up of the Enterprise Finance Guarantee scheme (EFG), Edward Rimmer, Chief Executive Bibby Financial Services, said:

Target Loan Servicing supports secured lending re-launch for Central Trust

Mon, 15 Feb 2010 10:34:13 +0100

Central Trust, a leading independent financial services organisation, has appointed financial outsourcing specialist, Target Loan Servicing, as its standby servicer for a new £90 million funding line secured with the Royal Bank of Scotland.

Find alternative sources of finance for credit-starved small firms, urges FPB

Thu, 11 Feb 2010 15:49:18 +0100

Alternative sources of finance may be the answer to the credit crisis engulfing small firms, according to a small business support group.

Tieto Corporation Interim Report

Wed, 10 Feb 2010 17:15:51 +0100

Tieto's interim report 4/2009 (January–December) and financial statements bulletin 2009 showed that the profitability improvement continued in the fourth quarter.

Bank should give greater weight to countering risks of double-dip recession

Wed, 10 Feb 2010 15:19:04 +0100

Commenting on the Inflation Report published today by the Bank of England, David Kern, Chief Economist at the British Chambers of Commerce (BCC), said:

UK Trade - Deficit widened to Â£3.3bn in Dec 2009

Tue, 09 Feb 2010 12:35:08 +0100

The UK’s deficit on trade in goods and services was £3.3 billion in December, compared with a deficit of £2.9 billion in November (unchanged from the originally published figure), according to new figures from the Office for National Statistics (ONS) published today.

âAlternativeâ finance providing comfort for small and medium sized business

Mon, 08 Feb 2010 12:55:01 +0100

Conventional bank loans, often seen as the traditional option for raising business finance, are being ignored by small and medium-sized businesses due to worries about restrictive eligibility criteria and the wide range of other finance options available, says Bibby Financial Services.

Fast funding that âworksâ thanks to Venture Finance

Mon, 08 Feb 2010 11:44:55 +0100

Premier Invoice and Asset Based Lender, Venture Finance has provided a £50k start-up funding facility for Sussex clothing company The Logo Works. Having been refused credit from a high street bank, The Logo Works was introduced to Venture through a personal contact. Attracted to the flexibility of its Fast Track Factoring package, The Logo Works agreed a deal within just five days of the initial meeting.

Comment from Exact Mortgage Experts on latest decision by MPC

Thu, 04 Feb 2010 17:12:02 +0100

Alan Cleary, managing director of Exact Mortgage Experts, comments on the MPC’s decision to hold the base rate at 0.5%:

Ethicall breaks the mould.....

Thu, 04 Feb 2010 16:20:53 +0100

With an employed field network of credit industry professionals, and state of the art technology, new company Ethicall is out to radically change perception of the field services market ….

MPC must 'concentrate on countering threat of double-dip recession'

Thu, 04 Feb 2010 13:29:23 +0100

Commenting on today’s Monetary Policy Committee decision, David Kern, Chief Economist at the British Chambers of Commerce (BCC), said:

Bank of England maintains Bank Rate at 0.5% and maintains the size of the Asset Purchase Programme

Thu, 04 Feb 2010 12:21:17 +0100

The Bank of England's Monetary Policy Committee today voted to maintain the official Bank Rate paid on commercial bank reserves at 0.5%. The Committee also voted to maintain the stock of asset purchases financed by the issuance of central bank reserves at £200 billion.

Charity bike ride from London to Paris

Thu, 04 Feb 2010 11:25:19 +0100

Trevor Deacon, Oriels Group Sales & Marketing Director, has set himself a personal challenge for 2010, to take part in the London to Paris Charity Bike Ride starting on the 12th May.

Weak pound strengthens UK's export-led recovery

Thu, 04 Feb 2010 10:32:39 +0100

The weak pound has fuelled the UK’s export market to such an extent that British exporters are more confident about future export growth than their counterparts in the Eurozone, according to the latest European Business Trends report by accountants and business advisers BDO LLP.

Venture Structured Finance funds James Caan deal

Wed, 03 Feb 2010 13:18:29 +0100

Leading Asset Based Lender, Venture Structured Finance, has provided medical recruitment specialist DRC Group with an £11.5m funding package to assist its acquisition by James Caan's private equity firm, Hamilton Bradshaw, via a BIMBO deal. Venture's funding package comprised Receivables Finance with a Cashflow Term Loan.

A new era of transparency? Lenders demand fuller financial disclosure by SMEs

Wed, 03 Feb 2010 10:15:50 +0100

Research published today by CreditPal shows that 43% of the UK’s Small and Medium Sized Enterprises (SMEs) applying for credit in the last two years were required to supply monthly management accounts by their lender.

Â£700 million lending boost for UK businesses

Tue, 02 Feb 2010 15:16:29 +0100

Over £700 million of affordable and easy to access funding from the European Investment Bank (EIB) has been approved for nearly 3,000 small businesses across the UK, through participating national banks.

Â£700 million lending boost for UK businesses

Tue, 02 Feb 2010 12:06:07 +0100

Small business support group calls for default retirement age to stay

Mon, 01 Feb 2010 15:06:24 +0100

A small business support group has called for plans to scrap the default retirement age to be shelved.

Redman returns to Absolute

Mon, 01 Feb 2010 14:49:58 +0100

Absolute Invoice Finance (“Absolute”), the leading specialist financier, has appointed Andy Redman as associate director to its Yorkshire office in Cleckheaton.

Begbies Traynor hires David Wilton to join the BTG Restructuring Team In London

Mon, 01 Feb 2010 13:09:35 +0100

Begbies Traynor, the UK’s leading business rescue, recovery and restructuring specialist has appointed David Wilton as a partner to further strengthen its BTG Restructuring Division. BTG Restructuring helps restore, preserve and enhance the value of businesses.

British businesses are 'Europe's most bullish'

Mon, 01 Feb 2010 12:54:19 +0100

British companies are the most bullish in Europe about their prospects for future growth, with 83% of chief executives claiming that the outlook for their business in 2010 is either good or very good, according to new research from KPMG International.

Smaller manufacturers see first signs of export-led recovery

Mon, 01 Feb 2010 09:34:24 +0100

Small and medium-sized manufacturers are starting to benefit from the relative weakness of Sterling, with overseas orders stabilising after seven quarters of decline, according to the Conferderation of British Industry (CBI). Manufacturing production also steadied, but is expected to fall in the next quarter as overall demand remains weak.

Government Announces Go-Ahead For Supermarket Enforcer

Fri, 29 Jan 2010 10:00:26 +0100

Consumer minister Kevin Brennan has today announced that he has accepted the Competition Commission’s recommendation for a body to enforce the Groceries Supply Code of Practice (GSCOP).

Latest survey finds deep anger over tax system among small firms

Thu, 28 Jan 2010 15:22:21 +0100

Small firms believe Britain’s tax system is deeply unfair and urgently needs to be simplified, new research has revealed.

FSA outlines latest steps to address corporate governance at firms

Thu, 28 Jan 2010 11:17:16 +0100

The Financial Services Authority (FSA) has today issued a Consultation Paper (CP) on effective governance standards within firms.

Matthew Vallance appointed to Board of Firstsource Solutions

Wed, 27 Jan 2010 17:26:55 +0100

Matthew Vallance has been appointed as Joint Managing Director to the Board of Firstsource Solutions Ltd, a leading global business process outsourcing company, as the company reports third quarter growth in revenue, operating EBIT and profit after tax.

SMEs raise Â£22.6 billion from 'alternative' sources of finance in last 12 months

Wed, 27 Jan 2010 15:31:12 +0100

New research from CreditPal, reveals in the last 24 months SMEs have sourced £45 billion from alternative sources of finance.

First UK print and mail company to achieve the British Standard in BCM

Wed, 27 Jan 2010 15:24:11 +0100

Stralfors, the pan-European print and mail company and leader in crucial communications, announced today it has achieved registration to BS 25999, Britain’s new standard for business continuity management (BCM).

Big challenges facing economy, despite end of recession

Tue, 26 Jan 2010 17:45:45 +0100

Commenting on the preliminary GDP figures for the fourth quarter 2009, published today by the ONS, David Frost, Director General of the British Chambers of Commerce (BCC), said:

Invoice and Asset Based Lending funding option of choice as recession ends

Tue, 26 Jan 2010 15:44:59 +0100

As the UK officially moves out of recession, premier Invoice and Asset Based Lender Venture Finance PLC announces positive growth in its client numbers for the last quarter of 2009. This is the second consecutive quarter Venture has seen such expansion, providing further evidence of the rising awareness of Invoice and Asset Based Lending in the UK. Many businesses are now using its supportive, cashflow-linked, qualities to drive recovery.

Double-dip risk to 'fragile' economy still remains, says small firm group

Tue, 26 Jan 2010 14:24:02 +0100

Phil Orford, chief executive of small business support group the Forum of Private Business (FPB), has issued the following comment in response to today’s news that the economy grew by 0.1% in the fourth quarter of 2009.

Stoclet takes charge at Crown as Haggerty moves on

Tue, 26 Jan 2010 12:53:37 +0100

Crown Mortgage Management today announces that Eric Stoclet will take over as the company’s Chief Executive Officer effective February 1, following the departure of Steve Haggerty who is leaving the company to take up a new challenge. The appointment is subject to FSA approval.

'Caution underpins business trading conditions for 2010'

Mon, 25 Jan 2010 15:04:44 +0100

A third of UK businesses are not expecting trading conditions to recover from current levels for at least a year, suggesting firms are taking only tentative steps towards recovery despite expected GDP growth in Q4 of 2009, according to the latest Bibby Financial Services Business Factors Index.

Buyer sought for JS Childrenswear Limited

Mon, 25 Jan 2010 12:21:31 +0100

Paul Clark, Partner at MCR, has confirmed that the business and assets of JS Childrenswear Limited, better known as the Adams retail chain, are being offered for sale.

Free Course to Help Smaller Firms Bid for Government Contracts

Mon, 25 Jan 2010 12:16:07 +0100

A free online public procurement course designed to help smaller firms bid for the £220 billion of public sector contracts awarded each year was today launched jointly by Small Business Minister Lord Davies and the Chief Secretary to the Treasury Liam Byrne.

FSA chairman calls for close engagement between accounting standard setters and bank regulators

Mon, 25 Jan 2010 10:38:09 +0100

Financial Services Authority (FSA) chairman, Lord Turner, called for close engagement between global accounting standard setters and those responsible for prudential regulation of the banking sector to address issues arising from the unique systemic nature of banks.

Buyer found for The Health Lottery

Fri, 22 Jan 2010 22:45:37 +0100

Insolvency experts Bridge Business Recovery have completed the sale of the Altala Group Ltd to the Health Lottery Ltd in a six-figure deal.

MCR appointed administrators for JS Childrenswear Limited

Fri, 22 Jan 2010 16:34:14 +0100

Paul Clark and Matt Bond, Partners at MCR, have been appointed joint administrators of JS Childrenswear Limited together with Ian Yerrill of Gerald Edelman on 22nd January 2010.

Two-thirds of UK businesses worried about this quarter's outlook

Thu, 21 Jan 2010 11:45:13 +0100

Figures released today by R3, the insolvency trade body, show that just one in three businesses (39%) feel that the outlook for the first three months of 2010 looks positive.

FSA fines Standard Life Â£2.45m for serious systems and controls failures

Wed, 20 Jan 2010 17:59:05 +0100

The Financial Services Authority (FSA) has today fined Standard Life Assurance Limited (SLAL) £2.45m for serious systems and controls failings that resulted in the production of misleading marketing material for its Pension Sterling Fund (the Fund). There were approximately 98,000 retail consumers invested in the Fund as at 23 December 2008.

Sterling hits six month high against Euro

Wed, 20 Jan 2010 17:55:27 +0100

Sterling has hit a six month high against the Euro after higher than expected UK inflation data and mixed economic figures from the eurozone.

ICM skills test helps match credit controllers to new jobs

Wed, 20 Jan 2010 17:51:09 +0100

All credit control professionals looking for work with Hays Accountancy & Finance will now be able to prove their skills in a unique online test.

MPC should not overreact to temporary inflation surge

Wed, 20 Jan 2010 17:35:22 +0100

Commenting on the December inflation figures published today by the ONS, David Kern, Chief Economist at the British Chambers of Commerce (BCC), said:

Absolute Invoice Finance strengthens North West team

Tue, 19 Jan 2010 17:59:13 +0100

Absolute Invoice Finance (“Absolute”), the specialist business financier, has followed its acquisition by Aldermore Bank (“Aldermore”) with the appointment of Mark Lindsay as regional manager in its North West office, based in Manchester.

Venture Finance puts Dragon Rescue acquisition plans back on the road

Mon, 18 Jan 2010 16:01:28 +0100

Premier Invoice and Asset Based Lender Venture Finance has provided South Wales rescue and recovery company Dragon Rescue with a £400k Confidential Invoice Discounting (CID) package to help the business expand and effect the acquisition of commercial tyre remoulding company Risca Tyres and expand its operation.

Paper specialist rolls out plans for expansion with Absolute

Mon, 18 Jan 2010 15:03:27 +0100

Paperback Collection and Recycling Limited (“Paperback”), one of the UK’s leading paper recycling businesses, is looking to expand its operations as a market leader in the production of sustainable and high quality paper stock, after negotiating a £300,000 funding line from Absolute Invoice Finance (“Absolute”).

Research shows accountants are failing to advise SMEs to produce management accounts

Thu, 14 Jan 2010 18:01:06 +0100

Few accountants are advising recession-hit small businesses seeking finance to produce management accounts, according to new research from the Forum of Private Business (FPB), commissioned by CreditPal, the free online accounts analysis system for SMEs.

Manufacturing still struggling to enter sustainable recovery

Wed, 13 Jan 2010 18:09:27 +0100

Commenting on the manufacturing output figures for November 2009, published today by the ONS, David Kern, Chief Economist at the British Chambers of Commerce (BCC), said:

Index of Production for November shows 6.0% annual fall

Wed, 13 Jan 2010 17:09:23 +0100

According to figures released by the Office for National Statistics, year on year, overall production output in November 2009 was 6.0 per cent lower than in November 2008.

Supermarket watchdog welcome, but more is needed to help small shops and suppliers

Wed, 13 Jan 2010 15:55:45 +0100

Small suppliers are finally being given protection from supermarkets in the form of an ombudsman, but the Forum of Private Business (FPB) is calling for further measures to help both suppliers and shops.

Small businesses given breathing space over pension reform but fear sting in the tail

Tue, 12 Jan 2010 16:38:08 +0100

The Forum of Private Business (FPB) is cautiously welcoming the Government’s concessions to small businesses over pension reform.

Move towards export-led growth not sufficiently strong

Tue, 12 Jan 2010 15:33:16 +0100

Commenting on the November trade figures published today by the ONS, David Kern, Chief Economist at the British Chambers of Commerce (BCC), said:

Treasury calls for more choice in business finance

Tue, 12 Jan 2010 09:51:28 +0100

Work to increase options for UK businesses in need of non-bank finance is the subject of a discussion document released by the Treasury today. The document seeks views on the barriers to more diverse financing for firms with the intention to introduce proposals for reform later in the year.

UK economy improving, but struggling to enter recovery phase

Tue, 12 Jan 2010 09:19:58 +0100

The results of the British Chambers of Commerce (BCC) Q4 2009 Economic Survey show improvements in most key national indicators, and a particular boost for manufacturing. However, progress has generally been weaker than it was in the third quarter of last year.

FSB calls for default retirement age to be scrapped

Mon, 11 Jan 2010 17:24:50 +0100

The Federation of Small Businesses (FSB) supports the Government's proposal to bring forward the review on the default retirement age and is calling on the Government to scrap the default retirement age.

October / November 2009 small business figures from the high street banks

Mon, 11 Jan 2010 17:03:50 +0100

According to figures just released by the British Bankers Association (BBA), there was £573mn of new structured-term lending to small businesses in November, following on from £592mn in October. Total lending stocks stand at £55.6bn, while deposit levels are at £54.5bn.

SMEs turn to overdrafts in pursuit of finance

Mon, 11 Jan 2010 16:14:09 +0100

Small to Medium Sized Enterprises (SMEs) have resorted to bank overdrafts, rather than business loans, to finance their operations reveals new research from CreditPal.

Pick-up in UK financial services sector activity disappointing, though profitability still improving

Mon, 11 Jan 2010 12:57:42 +0100

Activity in the UK financial services sector increased slightly over the past three months, continuing the rally of the previous quarter, but the modest growth was less than expected and firms expect volumes of business to fall in the coming quarter, a new survey revealed today (Monday).

Research analyst and spread better friend 'committed market abuse'

Mon, 11 Jan 2010 12:24:59 +0100

A former research analyst, Robin Chhabra, and his friend Sameer Patel have been found to have committed market abuse by using inside information to carry out a series of profitable spread bets.

Invoice finance providing an effective solution for businesses

Fri, 08 Jan 2010 12:02:19 +0100

Latest figures from the Asset Based Finance Association (ABFA) show the amount of funding advanced to businesses in the UK in Q3 of 2009 has risen to £48,667 million, an increase of four per cent on Q2 figures.

OECD composite leading indicators continue to signal a recovery

Fri, 08 Jan 2010 11:33:56 +0100

OECD composite leading indicators (CLIs) for November 2009 provide stronger signals of recovery than in last month’s assessment.

CBI reacts to Bank of England's MPC decision

Fri, 08 Jan 2010 11:19:57 +0100

The Confederation of British Industry (CBI), has reacted to the announcement from the Bank of England's Monetary Policy Committee.

MPC and Government must reinforce efforts to improve business access to finance

Fri, 08 Jan 2010 09:52:37 +0100

Commenting on yesterday’s Monetary Policy Committee (MPC) decision, David Kern, Chief Economist at the British Chambers of Commerce (BCC), said:

Employee absenteeism because of bad weather could cost Â£230 million

Tue, 05 Jan 2010 13:14:47 +0100

The Forum of Private Business (FPB) is warning that the cost of a single day of employee absenteeism because of the freezing winter conditions could be at least £230 million.

ACCA calls for improved dialogue between regulators and businesses in 2010

Mon, 04 Jan 2010 15:38:42 +0100

Regulators and businesses need to be able to engage in a common sense business dialogue to ensure that global financial regulation heads in the right direction in 2010, says the Association of Chartered Certified Accountants (ACCA).

FSB National Chairman's New Year Message 2010

Wed, 30 Dec 2009 12:46:19 +0100

John Wright, National Chairman of the Federation of Small Businesses (FSB), has issued his New Year message for 2010.

Forum of Private Business New Year Message 2010

Wed, 30 Dec 2009 12:14:07 +0100

Phil Orford, chief executive of small business support group the Forum of Private Business (FPB), has issued the following New Year message.

MPC must make greater efforts to boost bank lending to business

Thu, 24 Dec 2009 08:06:29 +0100

Commenting on the Monetary Policy Committee (MPC) minutes, published today by the Bank of England, David Kern, Chief Economist at the British Chambers of Commerce (BCC), said:

Disheartened entrepreneurs turn to politics ahead of the General Election

Wed, 23 Dec 2009 11:35:32 +0100

New figures suggest that more candidates with business and finance management experience are putting themselves forward as prospective MPs because they are disillusioned with existing enterprise policies.

GDP and Unemployment: Recessions compared

Tue, 22 Dec 2009 12:00:45 +0100

The Office of National Statistics (ONS) have issued figures comparing GDP and unemployment records in the current recession with those of the 80s and the 90s.

GDP estimates suggest that 'economy should emerge from recession shortly but still risks exist'

Tue, 22 Dec 2009 10:59:31 +0100

Responding to this morning's revised GDP figures, PricewaterhouseCoopers LLP confirmed that the UK economy as a whole was still in recession in Q3 2009, with only a small upward revision in the overall GDP growth figure from -0.3% to -0.2% in the third quarter. GDP in Q3 was 5.1% lower than a year earlier and 6% below its pre-recession peak.

Over Â£500m of Government-Backed Loans Boosts Business Prospects

Tue, 22 Dec 2009 10:01:10 +0100

Companies from printing firms to lighting groups have improved their business prospects after benefitting from more than half a billion pounds of Government-backed loans, Small Business Minister Lord Davies announced today.

Business strength improves and insolvencies fall in November, according to Experian

Mon, 21 Dec 2009 10:56:53 +0100

The latest Insolvency Index from Experian®, the global information services company, has revealed a positive picture in November, as the number of failing businesses continued to fall and the financial strength of businesses improved.

Alan Sugar writes exclusively on 'moaners' controversy for small business group

Mon, 21 Dec 2009 10:00:45 +0100

Alan Sugar has hit back at his critics in a hard-hitting new article for the FPB. Writing exclusively for the FPB in the latest edition of its quarterly Business Insight magazine, Lord Sugar insists he is ‘passionately committed' to helping small firms.

Weak lending to business threatens investment and recovery

Mon, 21 Dec 2009 09:37:02 +0100

Commenting on the Bank of England’s trends in lending figures, and the revised business investment data published today by the ONS, David Kern, Chief Economist at the British Chambers of Commerce (BCC), said:

Urgent action needed to preserve Britain's international credit rating

Mon, 21 Dec 2009 09:12:37 +0100

Commenting on the November public finance figures published today by the ONS, David Kern, Chief Economist at the British Chambers of Commerce (BCC), said:

Tentative UK recovery to slowly gather pace over next two years - CBI

Mon, 21 Dec 2009 08:54:17 +0100

The UK economy is expected to exit the recession in the fourth quarter of 2009, but thereafter growth will remain subdued and GDP is unlikely to have reached pre-recession levels by the end of 2011, the CBI said today (Monday).

The Future Financial Landscape - Speech by David Miles

Wed, 16 Dec 2009 15:26:29 +0100

In a speech today in London, Professor David Miles – an external member of the Monetary Policy Committee – discusses the current problems in the banking sector, how it might operate differently in the future, and the near-term and long-term monetary policy implications.

Venture Finance provides Â£1m funding line to GJF Fabrications

Tue, 15 Dec 2009 09:15:40 +0100

Premier Invoice and Asset Based Lender Venture Finance has provided West Midlands-based GJF Fabrications Ltd with a £800,000 Invoice Discounting package to help the company realise its growth ambitions. The package also came with a £200k Enterprise Finance Guarantee (EFG) loan, backed by the Government.

Comment from Peter Ewen, MD of Invoice & Asset Based Lender Venture Finance on chancellor's PBR

Fri, 11 Dec 2009 11:08:21 +0100

"Was it me, or did the words 'fiddling while Rome burns' come to mind when the Chancellor spelt out his Pre-Budget Report to Parliament this week?

MPC and Government must concentrate on boosting bank lending

Thu, 10 Dec 2009 13:13:57 +0100

Commenting on today’s Monetary Policy Committee (MPC) decision, David Kern, Chief Economist at the British Chambers of Commerce (BCC), said:

FSB response to Chancellor's Pre-Budget Report

Thu, 10 Dec 2009 11:45:53 +0100

The Federation of Small Businesses (FSB) welcomed measures by the Chancellor to give small businesses a helping hand by extending finance to small firms and calling off a 1p rise in small companies' Corporation Tax in his pre-budget report.

Government Extends Loan Guarantee Scheme

Thu, 10 Dec 2009 11:22:52 +0100

The Government announced in the Pre-Budget Report that its successful guarantee scheme to support business loans will continue for another year.

Darling's employment tax will 'hit small firms hard'

Thu, 10 Dec 2009 10:45:56 +0100

The Forum of Private Business (FPB) described the move to hike the National Insurance Contributions announced as part of the Pre-Budget Report. as a ‘tax on employment’ which will hit small firms hard and hinder employment.

No pain but few pleasures for small firms in lacklustre PBR, says FPB

Thu, 10 Dec 2009 10:30:25 +0100

The FPB has welcomed some of the small business-friendly measures outlined by the Chancellor, including the extension to the Enterprise Finance Guarantee Scheme, the freeze on corporation tax for small firms and the extension of the Time to Pay scheme.

Pre-Budget report - Comment by Bibby Financial Services

Thu, 10 Dec 2009 09:56:41 +0100

Commenting on the pre-Budget, Edward Rimmer, Bibby Financial Services chief executive, UK & Ireland, said: “By not penalising businesses and extending the 'Time to Pay' scheme in what is possibly the most important pre-Budget for the Chancellor, Darling has offered UK firms a lifeline out of the recession.

Venture Structured Finance allows printers MBO to press ahead

Thu, 10 Dec 2009 09:47:27 +0100

Venture Structured Finance, a division of Venture Finance has provided printer Bell & Bain with £3m funding to allow the company to complete a Management Buy-Out (MBO).

BCC Pre-Budget Report reaction

Wed, 09 Dec 2009 18:30:32 +0100

Reacting to the Chancellor’s Pre-Budget Report, David Frost, Director General of the British Chambers of Commerce (BCC), said:

FSA publishes feedback statement on remuneration

Tue, 08 Dec 2009 18:12:36 +0100

The Financial Services Authority (FSA) has today published the summarised feedback it received on whether to extend its code on remuneration policies to other FSA-authorised firms.

Manufacturers downbeat about future output - CBI

Tue, 08 Dec 2009 17:55:15 +0100

UK manufacturers predict production will fall a little over the next three months, having expected a pick-up in output in the two previous surveys, the CBI said today.

Pre-Budget Report must empower business to drive recovery

Tue, 08 Dec 2009 17:49:12 +0100

Ahead of the Pre-Budget Report, the British Chambers of Commerce (BCC) has outlined the measures business wants to hear from the Chancellor, which will boost economic growth, job creation, and help the private sector to drive the UK’s recovery.

Bibby Financial Services urges debtors to 'pay up'

Mon, 07 Dec 2009 13:02:27 +0100

Big businesses are continuing to monopolise on their dominant market position and delay invoice payment to small and medium sized businesses, according to Bibby Financial Services.

Call to boost employment and skills training in Pre-Budget Report

Mon, 07 Dec 2009 10:33:32 +0100

As the Government prepares to outline its enterprise policies in next week’s Pre-Budget Report (PBR), the Forum of Private Business (FPB) is calling for a timely boost to employment and skills training for small firms.

CGI Announces Launch of CGI Enterprise Gateway

Fri, 04 Dec 2009 10:13:53 +0100

CGI Group Inc., a leading provider of information technology and business process services, has announced the launch of CGI Enterprise Gateway®, a managed service that supports IT interfaces to third party services, helping clients significantly reduce overall costs and achieve greater efficiencies.

Small businesses need better bank lending as well as new growth capital fund, says FPB

Thu, 03 Dec 2009 17:14:11 +0100

The Forum of Private Business (FPB) is calling for bank lending to be made more accessible and affordable following a report identifying a ‘permanent gap’ in small business finance.

Ashley announces profits in excess of Â£1m

Wed, 02 Dec 2009 21:44:30 +0100

Ashley Commercial Finance, the “Friend of the Smaller Business”, is pleased to announce a pre-tax profit of £1,021,822 for the year ended 31st March 2009.

Small firms are growing but still need support to sustain a full recovery

Wed, 02 Dec 2009 17:14:11 +0100

More than half of businesses have resisted the worst of the recession by innovating, creating new products and services, according to a new survey by the Federation of Small Businesses (FSB) and ICM.

Pre-Budget Report must include support for small business investment, says FLA

Wed, 02 Dec 2009 15:38:32 +0100

Asset finance providers report that businesses, especially hundreds of thousands of small businesses, are still delaying investment in essential business equipment. The Finance & Leasing Association (FLA) has called for next week’s Pre-Budget Report to include tax incentives to help businesses to invest in leasing new equipment.

Software Developer Draycir Awarded Special Recognition Award by Sage

Wed, 02 Dec 2009 14:59:33 +0100

Sage (UK) Limited, the business software and services provider, has presented its first ever special recognition award to Draycir, the business and credit control software developers.

Albany Software launches a rental option for its solution portfolio

Wed, 02 Dec 2009 10:34:37 +0100

Albany Software, the UK’s leading e-transactions software author, has today announced a new rental strategy – offering its market-leading solutions to customers for a monthly fee rather than an upfront capital outlay. This flexible payment alternative comes at a time when more and more businesses are becoming increasingly careful with their cash flow management in the current economy.

Key appointments for Aon's credit insurance team

Tue, 01 Dec 2009 11:14:58 +0100

Aon Trade Credit UK (ATC), the UK’s largest credit insurance broker, has appointed Phil Simmons, Kevin Finch and Nicola Smith formerly of RK Harrison.

Venture Finance helps Trixter move up a gear

Mon, 30 Nov 2009 16:31:05 +0100

Venture Finance has provided Gloucestershire-based interactive exercise bike specialist, Trixter Europe Ltd, with a funding package comprising Factoring with Bad Debt Protection. The £300k funding line from the leading independent Invoice and Asset Based Lender will allow Trixter to action ambitious plans to grow its presence in the lucrative health club market.

Unexpected sales dip pushes service sector profits lower

Mon, 30 Nov 2009 11:37:30 +0100

Firms operating in the UK’s service sector saw an unexpected fall in sales in the last three months, pushing profitability lower and keeping business levels well below normal. That is according to the latest Confederation of British Industry (CBI) Service Sector Survey.

CreditPal offers solution for the SME business challenges identified by the CBI

Fri, 27 Nov 2009 16:41:27 +0100

CreditPal has endorsed the CBI’s assertion in its white paper ‘Shape of Business – the next ten years,’ that financing for SMEs remains a significant challenge.

Small businesses divided over environmental measures

Fri, 27 Nov 2009 15:48:15 +0100

More than one in five small firms are delaying embracing environmentally-friendly measures because of the recession but almost as many are being encouraged to implement them, a survey carried out by the Forum of Private Business (FPB) suggests.

MCR appointed Administrator to Borders (UK) Ltd

Thu, 26 Nov 2009 17:26:07 +0100

Philip Duffy, Geoff Bouchier and David Whitehouse of MCR have been appointed Joint Administrators of book-store chain Borders (UK) Ltd. Borders (UK) Ltd, which has 45 branded Borders and Books Etc stores across the UK.

UK businesses finding funding harder to come by

Thu, 26 Nov 2009 11:21:24 +0100

An overwhelming majority of financial advisers say that securing funding for small and medium sized businesses is becoming more troublesome, according to an annual survey benchmarking the opinions of financial advisers and brokers by Bibby Financial Services.

Financial choices are vital for businesses in "new era"

Thu, 26 Nov 2009 10:45:47 +0100

With the CBI this week unveiling its vision for a “new era” for businesses, times will undoubtedly change for UK firms says Edward Rimmer, chief executive at leading independent invoice financier Bibby Financial Services.

Small firms set to be overlooked in expected decision on bank charges

Thu, 26 Nov 2009 10:12:44 +0100

Ahead of the expected decision of the newly-formed Supreme Court to allow unfair bank charges to be investigated, the Forum of Private Business (FPB) is calling for protection for all small businesses as well as consumers.

Almost a third of job losses result from company liquidations

Thu, 26 Nov 2009 09:49:11 +0100

New research shows that the last year has seen an estimated 164,000 people in England and Wales lose their jobs as their employer has gone into liquidation. With the number of unemployed rising by 569,000 over this period, liquidations account for 29% of the total increase

Blake Lapthorn boosts Insolvency team with partner hire

Thu, 26 Nov 2009 09:43:24 +0100

Blake Lapthorn is pleased to announce the appointment of Adrian Owen as a partner in its Insolvency and Business Recovery team.

HML Wins Global Excellence Award for BPM Project

Wed, 25 Nov 2009 23:30:29 +0100

HML, the financial outsourcing provider, has won the Silver Award for Europe in the 2009 Global Awards for Excellence in Business Process Management (BPM) and Workflow.

Small firms set to be overlooked in expected decision on bank charges

Wed, 25 Nov 2009 16:24:45 +0100

Government Proposal to Help Fund Business Growth

Tue, 24 Nov 2009 16:51:39 +0100

The Government yesterday welcomed the publication of Chris Rowlands’ independent review into the availability of growth capital to small and medium sized businesses.

Action needed to reverse fall in business investment

Tue, 24 Nov 2009 12:02:44 +0100

Commenting on the preliminary business investment figures for Q3 2009, David Kern, Chief Economist at the British Chambers of Commerce (BCC), said:

Biennial Employee Fraud Research by Actimize, Finds Increasing Magnitude of Employee Fraud

Mon, 23 Nov 2009 15:59:08 +0100

Actimize, a NICE Systems company and the largest and broadest financial crime, compliance and risk management solutions provider to the financial services industry, today announced the results of its biennial research measuring employee fraud within financial institutions.

One in two workers is an unsung hero of recession

Mon, 23 Nov 2009 15:21:38 +0100

Half of UK workers have taken actions that help companies survive the recession, according to research commissioned by R3, the insolvency trade body. By accepting pay freezes, working longer hours or making other changes to their work patterns, they are helping companies stay afloat and preserving jobs.

Government's credit insurance scheme 'still not working'

Mon, 23 Nov 2009 15:17:07 +0100

Commenting on the news that the £5 billion Government fund set up to help small businesses which have seen their insurance cover diminish has only been used by 72 companies, Edward Rimmer, chief executive at leading independent invoice financier Bibby Financial Services, said:

Venture Finance urges industry to drop 'alternative' tag

Fri, 20 Nov 2009 13:50:14 +0100

In a newly published white paper Venture Finance is urging the Invoice and Asset Based Lending industry to drop its 'alternative finance'tag , and embrace its mainstream position within corporate finance. The document, endorsed by the Asset Based Finance Association (ABFA), is entitled 'The Evolution of Invoice and Asset Based Lending' and outlines the themes, discussions and conclusions arising from a recent industry think tank.

Absolute strengthens proposition by joining forces with Aldermore

Wed, 18 Nov 2009 18:07:50 +0100

Absolute Invoice Finance (“Absolute”), the specialist provider of factoring and invoice discounting solutions to small and medium sized enterprises (SMEs), has today joined forces with Aldermore Bank PLC (“Aldermore”) in a move that saw Aldermore acquire the business from AnaCap Financial Partners (“AnaCap”). AnaCap is a specialist private equity firm focused on financial services, which acquired Aldermore earlier this year.

Businesses report worsening access to finance situation

Mon, 16 Nov 2009 09:45:48 +0100

Access to finance remains a serious problem for British businesses, despite the Bank of England pumping £200 billion into the economy to boost money supply and stimulate lending.

Freeze new small business laws until election 'to allow for review of red tape'

Fri, 13 Nov 2009 14:49:52 +0100

The Forum of Private Businesses (FPB) is calling for a freeze in new business legislation to allow the Government to re-assess the burden of red tape. The proposed moratorium would last until the General Election, which is expected to take place in May.

Call for action on 'phoenix' companies leaving small businesses unpaid after becoming insolvent

Thu, 12 Nov 2009 15:56:27 +0100

A probe into corporate insolvencies must address the problem of ‘phoenix’ companies starting again under a different name leaving their smaller creditors unpaid, the Forum of Private Business (FPB) is arguing.

Returning the economy to growth 'must be top policy priority'

Thu, 12 Nov 2009 09:59:45 +0100

In his initial comments on the Inflation Report, published yesterday by the Bank of England, David Kern, Chief Economist at the British Chambers of Commerce (BCC), said:

Up to Â£1.4 billion in new loans for onshore wind farms

Tue, 10 Nov 2009 16:29:13 +0100

Three UK-based banks will start offering new loans to eligible onshore wind farms today. Wind farm developers and the banks will have an opportunity to start brokering the deals at a forum in the city hosted by Ed Miliband and Chancellor Alistair Darling.

LG advises Australian noteholders on Court of Appeal win under Lehman Dante programme

Tue, 10 Nov 2009 16:19:48 +0100

We are pleased to announce that the Court of Appeal has upheld the Chancellor's decision in another victory for the English law investing public in the set-piece battle being fought out by Lehman investors in the English High Court. ...

Small firms shown how to sweeten relations with bank managers in the wake of Alan Sugar controversy

Tue, 10 Nov 2009 14:52:32 +0100

A business support group has developed a free guide aimed at helping small businesses to secure crucial bank support. The guide, entitled Get your bank manager to say ‘YES’!, has been produced by the Forum of Private Business (FPB) in response to mounting concerns over bank lending to smaller firms.

Cashflow UK appoints Andrew Bullard as new head of business

Mon, 09 Nov 2009 16:49:55 +0100

Leading invoice finance broker, Cashflow UK, has strengthened its management team with the appointment of Andrew Bullard as Head of Business.

Venture Finance provides progressive funding for Progressive Die Components Ltd

Mon, 09 Nov 2009 11:00:32 +0100

Premier Invoice and Asset Based Lender, Venture Finance has provided a £150k funding facility for new business Progressive Die Components to help the company get off the ground.

Credit Collections & Risk magazine - now online, free!

Fri, 06 Nov 2009 13:19:05 +0100

Credit professionals have welcomed the opportunity to read Credit Collections & Risk magazine free of charge online for the first time ever; in a move aimed at making sure the industry stays up to date with the latest news and best practice, and at beating the postal strikes.

FPB responds to Sir Alan Sugar's comments on 'moaning' small business owners

Thu, 05 Nov 2009 23:02:43 +0100

A small business lobby group has responded to controversial remarks made by Sir Alan Sugar in Manchester this week. According to reports, the Government enterprise czar was highly dismissive of complaints over bank lending to small businesses.

Jenkin to head Aon Trade Credit's pulp and paper team

Thu, 05 Nov 2009 23:00:46 +0100

Aon Trade Credit, the UK’s largest credit insurance broker, has appointed Elizabeth Jenkin as sector leader for pulp and paper products in the UK. She will be responsible for leading a specialist team to deliver broking and technical support to the trade.

41% of UK businesses experiencing export growth, defying recessionary pressures

Thu, 05 Nov 2009 22:59:22 +0100

A significant proportion of small to medium-sized businesses in the UK have reported an increase in the export side of their business, according to new research from leading independent invoice financier Bibby Financial Services.

FPB public procurement research reveals 'postcode lottery' for council suppliers

Thu, 05 Nov 2009 22:49:59 +0100

A major study by the Forum of Private Business (FPB) has revealed vast differences in the amount of time British councils take to pay their suppliers.

Atradius increases cover on over 13,000 UK companies

Wed, 04 Nov 2009 14:43:08 +0100

Leading trade credit insurer Atradius is pleased to announce increased credit insurance capacity on 13,000 UK companies following a comprehensive review of its risk underwriting strategy. Atradius estimates that SMEs in particular will benefit from the change and that over £1 billion of extra trade could be facilitated in the coming months.

FPB and Accept Cards Ltd help firms save money on merchant services

Tue, 03 Nov 2009 15:02:31 +0100

The Forum of Private Business (FPB) is helping small businesses cut adrift by the providers of credit card merchant services or struggling with the cost of processing card payments.

Groundbreaking service launched to unblock SMEs access to credit and finance

Tue, 03 Nov 2009 12:20:24 +0100

Future Route and Graydon, the commercial credit reference agency, are proud to announce the launch of CreditPal, a free online service offering monthly credit reviews, which aims to unblock the flow of credit and finance to Small to Medium Sized Enterprises (SME’s).

BPF comment on Blacks' CVA proposal

Tue, 03 Nov 2009 11:28:47 +0100

Liz Peace, chief executive of the British Property Federation, said: "The conditions around each CVA will always vary.

Taxman targets pre-pack offspring with VAT demand

Tue, 03 Nov 2009 11:00:02 +0100

The Government has beent of “thwarting” enterprise with demands from the owners of collapsed businesses of up to six months of VAT for the right to start again, according to a report in The Times.

Bibby Financial Services urges small firms to seize cashflow lifeline

Mon, 02 Nov 2009 13:15:37 +0100

With lack of cash flow a key factor in the majority of business failures, leading independent invoice financier Bibby Financial Services is urging small businesses to address their finances now to avoid becoming another statistic.

New focus for procurement and supply chain management

Mon, 02 Nov 2009 11:02:12 +0100

Shirley Cooper the Procurement and Supply Chain Director for Computacenter, will become the new elected President of The Chartered Institute of Purchasing & Supply (CIPS) on 1st November for 2009-10. Shirley will take over the role from incumbent President Bola Afolabi and will be concentrating on developing relationship management and reputation in the profession. Shirley has been the Vice President for the past 12 months.

Confidence levels in Manufacturing show sharp increase

Fri, 30 Oct 2009 17:12:18 +0100

Confidence levels in the manufacturing sector jumped in the third quarter, according to new research by accountants and business advisers BDO LLP, which looked at confidence levels in the sector over the next six months.

Support for leasing 'can kickstart business investment'

Thu, 29 Oct 2009 15:24:00 +0100

The Finance & Leasing Association (FLA) has today in its Pre-Budget Report Submission to the Chancellor called for Government support for small and medium sized businesses who invest in capital equipment through leasing.

John Healey: Â£450m to get workers back on stalled housing sites

Thu, 29 Oct 2009 14:51:28 +0100

Housing Minister John Healey today finalised a £450m funding package to kickstart work on over 150 stalled housing developments, getting work back on track and builders back on site.

US recovery positive for the world but highlights Britain's predicament

Thu, 29 Oct 2009 14:46:38 +0100

Commenting on the US GDP figures for Q3 2009, David Kern, Chief Economist at the British Chambers of Commerce (BCC), said: “The news published today, confirming that the US economy has officially exited recession is excellent news for the global economy.

Firstsource reports second quarter fiscal 2010 revenues of USD 99.70 million

Wed, 28 Oct 2009 17:30:47 +0100

Firstsource Solutions Limited, among India’s leading pure-play BPO companies, reported its consolidated financial results for the quarter ended September 2009, according to Indian GAAP.

Postal strikes could cost small businesses up to Â£5,000, says FSB poll

Wed, 28 Oct 2009 15:08:16 +0100

National postal strikes could cost small businesses anywhere between £500 and £5,000, a poll by the Federation of Small Businesses (FSB) has shown.

Government support for small businesses 'must not be sacrificed in public spending cuts'

Tue, 27 Oct 2009 15:05:12 +0100

The Government must not sacrifice its support for small businesses as part of widely-anticipated spending cuts to plug the gap in public finances, the Forum of Private Business (FPB) is warning.

August '09 small business figures for the high street banks

Tue, 27 Oct 2009 13:19:09 +0100

Figures just released by the British Bankers Association (BBA) show that new structured term lending to small businesses totalled £574 million in August. Lending stocks, at £56 billion, were little changed in the month, while deposits fell marginally.

Barclays deal with European Investment Bank gives a boost to UK Further Education Colleges

Mon, 26 Oct 2009 10:32:07 +0100

Some 24 Further Education Colleges across the UK will benefit from lower cost finance comprising a total of £200 million to fund almost £1billion of capital projects, due to a loan facility made available following the signing of a new contract between Barclays and the European Investment Bank (EIB).

Deeply disappointing GDP figures highlight need for supporting measures

Fri, 23 Oct 2009 16:16:25 +0100

Commenting on the preliminary GDP figures for the third quarter of 2009, published today by the ONS, Dr Adam Marshall, Director of Policy at the British Chambers of Commerce (BCC), said:

White paper charting potential for Invoice and Asset Based Lending industry published

Fri, 23 Oct 2009 12:53:59 +0100

Premier Invoice and Asset Based Lender Venture Finance has published its "The Evolution of Invoice and Asset Based Lending" white paper following a high-level industry think tank.

MPC must support fragile recovery

Wed, 21 Oct 2009 18:31:09 +0100

Commenting on the MPC minutes, published today by the Bank of England, David Kern, Chief Economist at the British Chambers of Commerce (BCC), said:

Launch of cashflow guide for UK exporters

Wed, 21 Oct 2009 18:14:03 +0100

De-stocking throughout 2009 has fuelled UK exporters’ need for immediate cash on winning a contract and the new Guide to Financing Exports from the British Exporters Association (BExA) sets out the options for trade finance. Susan Ross, chair of BExA and director of Aon Trade Credit, the UK’s largest credit insurance broker, has edited this practical guide.

Chancellor urged to put small business finance at the forefront of the pre-budget

Wed, 21 Oct 2009 17:56:55 +0100

In advance of the impending pre-Budget, Edward Rimmer, UK and Ireland chief executive at leading independent invoice financier Bibby Financial Services, commented:

Document Outsourcing Limited recognised for process quality

Mon, 19 Oct 2009 15:10:27 +0100

Bellshill based Document Outsourcing Limited have just been successfully re-assessed against the International Quality Standard ISO9001:2008 for ‘the provision of client data printing and associated ‘primepost’ sortation and mailing services.’

Venture Finance achieves highest new client levels for a decade

Mon, 19 Oct 2009 10:04:14 +0100

Venture Finance PLC announces today that its Q3 results for 2009 are the best it has achieved in a decade. The Independent Invoice and Asset Based Lender has provided consistent support to UK businesses, in what has been a difficult time for liquidity. As a result, Venture has witnessed a 42 per cent increase in new clients above the usual third quarter average, dating back to 2000.

End of year uplift 'a false dawn'

Mon, 19 Oct 2009 09:12:07 +0100

The final quarter of 2009 will see increasing business failures and trading conditions are likely to worsen again in quarter one of 2010 according to predictions released today in a new business index.

Angela Knight speaks at BBA Annual Supervision Conference

Wed, 14 Oct 2009 17:12:06 +0100

Speaking at yesterday's BBA conference, chief executive Angela Knight said:

Target deploys state-of-the-art commercial lending solution

Tue, 13 Oct 2009 17:10:45 +0100

Target, a leading provider of lending solutions, has signed a contract to deliver a new state-of-the-art commercial lender system. The client, who wishes to retain commercial confidentiality, has ambitious launch plans as market conditions improve.

Large firms to help SMEs punch above their weight

Tue, 13 Oct 2009 15:07:53 +0100

A major new initiative is being launched across the UK, which will give thousands of small and medium-sized businesses the chance to learn from some of the country’s biggest and most successful companies.

UK on the 'brink of leaving recession'

Tue, 13 Oct 2009 11:58:50 +0100

Results from the Quarter 3 2009 British Chambers of Commerce (BCC) Economic Survey (QES) show that the UK is on the brink of leaving recession.

Charles Mayhew MICM elected onto the FCIB European Advisory Council

Tue, 13 Oct 2009 10:57:04 +0100

Moreton Smith is proud to announce that Charles Mayhew MICM, a Director at Moreton Smith, one of the largest privately owned credit management solutions specialists, has been elected by the FCIB Board of Directors to the FCIB European Advisory Council for a three-year term beginning 2009.

Companies must manage success efficiently to avoid growing pains

Tue, 13 Oct 2009 09:49:47 +0100

As companies win more customers and gain more revenue, they will need larger facilities and more employees to keep up with the pace. Not only can this be very costly but maintaining a good solid cashflow ultimately becomes more difficult and in many cases is manually impossible.

Graydon UK announces launch of new enhanced credit information report service

Mon, 12 Oct 2009 16:15:20 +0100

Graydon UK, the commercial credit reference agency, today announces the launch of the world’s first enhanced credit information report service based on monthly company financial information.

State aid rules must not force banks to abandon small businesses, says FPB

Fri, 09 Oct 2009 15:47:02 +0100

The Forum of Private Business (FPB) is urging the European Commission not to force the UK’s part-nationalised banks to abandon more than two million of their small business customers.

MPC must act resolutely to counter threats of relapse

Fri, 09 Oct 2009 10:17:51 +0100

Commenting on yesterday's MPC decision, David Kern, Chief Economist at the British Chambers of Commerce (BCC), said:

Bank of England Maintains Bank Rate at 0. ...

Fri, 09 Oct 2009 10:15:59 +0100

The Bank of England’s (BoE) Monetary Policy Committee yesterday voted to maintain the official Bank Rate paid on commercial bank reserves at 0.5%.

Begbies Traynor Group plc and Mesirow Financial Consulting, LLC Announce Joint Venture

Thu, 08 Oct 2009 12:56:19 +0100

Begbies Traynor Group plc (BTG) and Mesirow Financial Consulting, LLC (MFC) today announced a joint venture - BTG Mesirow Financial Consulting – which becomes one of the largest insolvency and restructuring practitioners in the world.

CVAs and pre-packs not interchangeable

Wed, 07 Oct 2009 18:31:52 +0100

With the Government considering adopting legislation to increase the use of Company Voluntary Arrangements (CVAs), CVAs have been seen as a ‘positive insolvency tool’ in cases such as JJB Sports and Focus DIY. However, their increasing usage is not necessarily designed to phase out pre-packs.

Venture Finance acts fast to save furniture manufacturer and 72 jobs

Wed, 07 Oct 2009 18:10:26 +0100

Premier Invoice and Asset Based lender Venture Finance has provided Merseyside-based Dams Furniture Ltd with a Confidential Invoice Discounting (CID) and Plant & Machinery funding package.

VocaLink Take Home Pay Index falls for the first time since May

Wed, 07 Oct 2009 17:34:52 +0100

The VocaLink Take Home Pay Index for September emphasised the fragility of the UK labour market, dropping to just 1.7% wage growth. This was down from August's 2.0% pay growth figure which was the highest since February 2007. The turbulence of the wage growth figures is interpreted as a sign that even as the UK pulls out of recession, the labour market remains delicate.

Venture Structured Finance provides refinancing package to Makin Metal Powders

Wed, 07 Oct 2009 16:54:33 +0100

Venture Structured Finance, a division of the Venture Finance group has provided a refinancing package to Makin Metal Powders.

Employment tax break for new start ups given a cautious welcome by business group

Wed, 07 Oct 2009 16:42:26 +0100

A plan for a National Insurance (NI) tax holiday for new start-ups could create 60,000 jobs, it has been claimed by the Shadow Chancellor George Osborne at today’s Conservative Party conference in Manchester.

Almost a fifth of small firms in the South West are already experiencing an upturn in trade

Thu, 01 Oct 2009 18:50:38 +0100

Research carried out by the Forum of Private Business (FPB) has found that while some of the region's small businesses are still shedding jobs and cutting costs, 18% are already seeing an increase in orders and sales, with a further 54% expecting an increase over the coming year.

MCR Appointed Administrators For BlueSky Travel Systems

Thu, 01 Oct 2009 14:17:24 +0100

MCR has announced that BlueSky Travel Systems was placed into administration on September 29th 2009. Phil Duffy, partner at MCR, has been appointed as administrator.

Help amid fears rates revaluation could hit small firms hard

Wed, 30 Sep 2009 16:51:05 +0100

Members of the Forum of Private Business (FPB) are being given access to a free business rates appraisal service amid fears that they will be forced to pay inflated rates bills for five years, according to a recent FPB survey.

North West small firms believe business can grow - but need better treatment from banks,

Tue, 29 Sep 2009 15:49:32 +0100

Research carried out by the Forum of Private Business (FPB) has found that while some recession-hit small businesses in the region are still making redundancies and cutting costs, most expect to see a much-needed upturn in trade over the next year.

Businesses Battle Bad Debt with Late Payment Interest

Mon, 28 Sep 2009 10:06:40 +0100

Huge pressures on cash flow this year have driven more businesses than ever before to exercise their right to charge late payment interest (LPI) on bad debt according to Lovetts, one of the UK’s leading debt recovery law firms.

204,000 Tax Arrears Ticking Time Bombs

Mon, 28 Sep 2009 10:04:09 +0100

The summer is now well and truly over and the economic realities may be coming home to over 200,000 UK businesses. Since November 2008 HM Revenue & Customs has agreed some 204,000 so-called ‘time-to-pay’ arrangements following the launch of the Business Payment Support Service (BPSS) late last year. This scheme was specifically designed for small businesses.

Many small businesses believe they will 'prosper and grow' as Britain heads out of recession

Thu, 24 Sep 2009 08:39:40 +0100

Research carried out by the Forum of Private Business (FPB) has found that almost half of its members (47%) expect to see an increase in trade over the next year.

HML makes key hire with new head of compliance

Wed, 23 Sep 2009 17:43:30 +0100

HML, the financial outsourcing provider, has announced the appointment of Julie Sadler as head of compliance to be based within its Skipton office.

Target Loan Servicing achieves Servicer Ranking with Standard & Poors

Wed, 23 Sep 2009 17:38:07 +0100

Target Loan Servicing has been assigned an ”AVERAGE” servicer ranking by international ratings agency Standard & Poor’s (S&P). This ranking was assigned for primary residential mortgage servicing and primary consumer finance servicing in the UK.

Hoare Capital adds to its specialist credit team

Tue, 22 Sep 2009 12:29:47 +0100

West End based agency broker Hoare Capital is adding to its Credit, ABS and Inflation teams as it gears up into Q3 2009.

Poor payment tops list of business owners concerns in latest Economic Downturn Panel survey

Tue, 22 Sep 2009 11:31:02 +0100

Cash flow worries as a result of increasing late payments are causing small businesses the most headaches, according to the latest Economic Downturn Panel survey carried out by the Forum of Private Business (FPB).

Trade credit insurance claims fall for first time in four quarters, uncertainty in economy continues

Mon, 21 Sep 2009 18:00:06 +0100

Latest ABI figures show that trade credit insurance claims have fallen for the first time in four quarters. In Quarter 2, 2009:

Government loan powers up electric car maker

Mon, 21 Sep 2009 12:59:41 +0100

The government today announced a £10M loan to Tata Motors European Technical Centre (TMETC) under the Automotive Assistance Programme (AAP) set up to support investment in a lower carbon future for the industry.

BCC warns party leaders: Give business the freedom to drive UK recovery

Mon, 21 Sep 2009 12:58:46 +0100

As the leaders of the main political parties prepare to deliver their keynote speeches during this year’s crucial party conference season, the British Chambers of Commerce (BCC) has issued a warning that all three parties must present a clear vision that gives business the freedom to create opportunities, jobs and growth to drive the UK’s recovery from recession.

Help at hand for small firms struggling with employment law

Wed, 16 Sep 2009 17:11:55 +0100

The Forum of Private Business (FPB) has launched its new Employment Guide to help small businesses comply with employment law, which is an increasing headache for companies forced to make redundancies because of the recession or dismiss staff following disciplinary breaches.

ICM Editor takes new role in commercial development

Wed, 16 Sep 2009 09:42:48 +0100

Rob Beddington is relinquishing his role as Editor and Advertising Manager of Credit Management, the Institute of Credit Management's (ICM) monthly magazine, to focus on developing the ICM's relationships with the credit industry and the wider business community.

TLS wins new 55 van flexible rental deal with JBW Group

Tue, 15 Sep 2009 12:01:28 +0100

A new deal to supply 55 vans to JBW Group on flexible rental, replacing the company’s existing outright purchased fleet, has been won by TLS Vehicle Rental.

CGI provides banks with improved working capital capabilities through new trade finance offering

Mon, 14 Sep 2009 16:48:23 +0100

CGI Group Inc., a leading provider of information technology and business process services, today announced the addition of accounts receivable and cash management capabilities within its global trade and supply chain platform, Proponix360£.

Venture Finance North West reports consecutive growth quarters

Mon, 14 Sep 2009 12:40:28 +0100

Premier Invoice and Assed Based Lender also bolsters senior business development staff to capitalise on two most successful quarters post recession.

Agreement on the recapitalisation of servicing operations of the Crown Group

Mon, 14 Sep 2009 12:23:56 +0100

Crown Mortgage Management and Forum Partners have today announced an agreement involving the recapitalization of the servicing operations of the Crown Group. The agreed transaction, which is subject to regulatory approval, will result in the purchase of Crown’s servicing and mortgage co-investment operations from Crown Westfalen Bank with financing proceeds from an affiliate of Forum Partners, a global real estate investment management firm.

Business group finds steep cost of lending is leaving viable businesses in the cold

Fri, 11 Sep 2009 16:20:18 +0100

The Forum of Private Business (FPB) has learned that banks are imposing a raft of charges, increasing interest rates and demanding personal guarantees as preconditions for lending to small businesses, including under the Government’s Enterprise Finance Guarantee (EFG) scheme.

MPC should take steps to stimulate lending to businesses

Fri, 11 Sep 2009 15:49:41 +0100

Commenting on today’s Monetary Policy Committee (MPC) decision, David Kern, Chief Economist at the British Chambers of Commerce (BCC), said:

73% of businesses fail to conduct credit checks

Thu, 10 Sep 2009 13:33:21 +0100

According to recent reports, 73% of companies in the UK fail to carry out a credit check on new customers. This is the most basic form of protection against bad debt and possible business failure, warns leading business information provider, Equifax.

Energy watchdog must heed all small businesses concerns, says FPB

Wed, 09 Sep 2009 15:53:57 +0100

With less than a week to go before Ofgem’s probe into the energy supply market closes, the Forum of Private Business (FPB) is urging the watchdog to review its initial recommendation not to ban costly rollover contracts.

Recovery arriving quicker than expected but activity will remain weak, says OECD

Fri, 04 Sep 2009 15:15:33 +0100

Recovery from the global recession is likely to arrive earlier than had been expected a few months ago but the pace of activity will remain weak well into next year, according the Organisation for Economic Co-Operation and Development's (OECD) latest Interim Economic Assessment.

Small firms now 'waiting up to four months to be paid'

Wed, 02 Sep 2009 12:58:56 +0100

Small firms are waiting up to four months for invoices to be paid by several big brand names, Federation of Small Businesses (FSB) research has revealed.

Over 5,000 retailers to go out of business next year

Tue, 01 Sep 2009 16:42:59 +0100

The retail sector will dwell in the doldrums for longer than other industries, with the number of business failures rising in 2010, according to the latest Industry Watch report by accountants and business advisors, BDO Stoy Hayward LLP.

GDP growth - Economy contracts by 0.7% in Q2 2009

Fri, 28 Aug 2009 10:57:17 +0100

Gross Domestic Product (GDP) contracted by 0.7 per cent in the second quarter of 2009. This has been revised from a fall of 0.8 per cent in the preliminary estimate of GDP, due to upward revisions to production. GDP is 5.5 per cent lower than the second quarter of 2008.

FPB asks all UK councils and health trusts how long they take to pay suppliers

Fri, 28 Aug 2009 10:52:55 +0100

A small business support and lobby group was this week submitting Freedom of Information Act requests to every single council and health trust in Britain asking how long they take to pay their suppliers. The exercise, which involves contacting more than 700 different organisations, is being carried out by the Forum of Private Business (FPB) and got underway today (Friday, 28 August).

Help Support MCR Run the London Half Marathon and Raise Money for the NSPCC

Fri, 28 Aug 2009 10:46:37 +0100

Andy Stoneman, Paul Clark, Jason Godefroy, Phil Duffy, Paul Williams and Steve Clancy and many other staff of corporate turnaround specialists MCR, will be running the Royal Parks Foundation Half Marathon to raise money for the NSPCC along with clients from HBOS, Eurofactor, GE Capital UK, KBC Bank, Kennedys Law, Wedlake Bell, Berg Legal Osborne Clarke and Kelso Place Asset Management.

Changes in business investment figures from the ONS

Fri, 28 Aug 2009 10:39:46 +0100

Business investment for the second quarter of 2009 is estimated to be 10.4 per cent lower than the previous quarter and 18.4 per cent lower than the same period last year.

Falling business investment heightens long-term threats to the economy

Fri, 28 Aug 2009 10:28:54 +0100

Commenting on the preliminary business investment figures for the second quarter of 2009, David Kern, Chief Economist at the British Chambers of Commerce (BCC), said:

SMEs can unlock vital funds to survive the recession

Thu, 27 Aug 2009 17:22:59 +0100

Managing cash flow is one of the most demanding aspects of running a business in the current climate, according to more than half of the 2,000 SMEs that participated in a recent survey carried out by Hilton-Baird Financial Solutions on behalf of the Asset Based Finance Association (ABFA).

Services sector recession waning, but profits hit by falling prices

Tue, 25 Aug 2009 12:05:40 +0100

Business levels in the services sector are still below normal, but less so than in the previous three quarters, according to the latest CBI Service Sector Survey. However, downward pressure on profits is being compounded by deflation in the sector.

SMEs could save up to £30k a year just by talking!

Mon, 24 Aug 2009 18:23:42 +0100

Research released today from the annual Barclaycard Commercial Business Travel Survey shows that forty percent of SME employees claim that they do not follow a business travel policy because either there isn’t one (23%); they ignore it (4%); they don’t know if one exists (4%); or, they only follow it on an occasional basis (9%).

Bank of Ireland provides 133mn for Silverfleet's acquisition of Kalle

Thu, 20 Aug 2009 10:04:44 +0100

Bank of Ireland today announces its role as Mandated Lead Arranger and Global Coordinator of a €133 million financing package for the acquisition of Kalle GmbH (“Kalle”) by Silverfleet Capital, subject to anti trust approval in Germany and Russia. The debt financing comprises €113 million of term debt and a €20 million revolving credit facility.

FLA figures show SMEs turn to leasing to prepare for recovery

Tue, 18 Aug 2009 07:41:31 +0100

An increasing number of businesses are taking advantage of operating leasing, according to new asset finance figures published today by the Finance & Leasing Association.

Jail For Slough Businessman Who Cannot Be Trusted

Tue, 18 Aug 2009 07:28:42 +0100

A businessman who ran a recruitment company into the ground, racked up over £750,000 in debt and kept incomplete financial records was sentenced to nine months in prison at Reading Crown Court. He was also banned from running a company for five years.

185,000 UK businesses given more time to pay taxes

Mon, 17 Aug 2009 15:15:29 +0100

Chancellor Alistair Darling will today visit the hub of the HMRC Business Payment Support Service (BPSS) in Cumbernauld, Glasgow to see how the 7-day a week service is performing in its work to support struggling businesses across the UK.

FLA figures show SMEs turn to leasing to prepare for recovery

Mon, 17 Aug 2009 14:47:07 +0100

An increasing number of businesses are taking advantage of operating leasing, according to new asset finance figures published today by the Finance & Leasing Association (FLA).

Dont bank on it Bibby urges start-ups to shop around for funding

Mon, 17 Aug 2009 14:34:05 +0100

Following Darling’s ‘three line whip’ to Britain’s banks over the rising cost of loans to small businesses, leading independent invoice financier Bibby Financial Services, is urging start-up businesses to do their homework when seeking funding and to consider alternatives to traditional bank lending.

Struggling firms freed from rollover telecoms contracts

Thu, 13 Aug 2009 15:19:57 +0100

Business owners have been given a timely boost to help them manage soaring utilities costs in a deal offering freedom from rolling telecoms contracts and the best possible rates.

£3 Million Investment For Tech Firms

Thu, 13 Aug 2009 15:11:26 +0100

Technology firms KeTech and Vamosa are the first to benefit from a government-backed fund providing vital investment to innovative small businesses.

CBI comments on FSAs remuneration code

Wed, 12 Aug 2009 17:55:50 +0100

The CBI today (Wednesday) commented on the Financial Services Authority’s introduction of a remuneration code of practice for large banks, building societies and broker dealers.

'Go online' to win public contracts

Tue, 11 Aug 2009 13:41:26 +0100

The Forum of Private Business (FPB) is advising businesses to go online to maximise their chances of winning public contracts, following the Government’s decision to scrap its policy of charging a maximum of £180 per year to use its supply2.gov.uk portal.

FSB warns against high street banks holding small business monopoly

Mon, 10 Aug 2009 17:20:59 +0100

The Federation of Small Businesses (FSB) is challenging a potential monopoly of power being built up by high street banks over small firms seeking finance, two years after the credit crunch started.

Growth ahead for CIF with new parent company

Mon, 10 Aug 2009 16:32:59 +0100

The UK’s leading independent business funder, Cattles Invoice Finance and Cattles Invoice Finance Oxford (“CIF”), has agreed conditional terms to be acquired from Cattles plc by financial services specialist private equity fund, AnaCap Financial Partners LLP (“AnaCap”), in a deal that values the company at £70 million.

KPMG Business Outlook Survey - Outlook for UK manufacturing improves markedly

Mon, 10 Aug 2009 15:35:53 +0100

Latest data from the KPMG Business Outlook Survey shows a strong rebound in confidence amongst UK manufacturers following the dramatic deterioration recorded in the preceding two surveys.

Lack of lending behind the surge in company closures, says FPB

Fri, 07 Aug 2009 16:33:21 +0100

The Forum of Private Business (FPB) is highlighting a record drop in lending as the main reason behind the increase in company insolvencies, as revealed in new figures published today.

Lack of lending 'behind the surge in company closures'

Fri, 07 Aug 2009 16:14:02 +0100

The Forum of Private Business (FPB) is highlighting a record drop in lending as the main reason behind the increase in company insolvencies, as revealed in new figures published today.

Statistics release: Insolvencies in the second quarter 2009

Fri, 07 Aug 2009 15:34:36 +0100

Statistics showing insolvencies in the second quarter of 2009 are published today (7 August) by the Insolvency Service.

Half of businesses 'considering redundancies'

Fri, 07 Aug 2009 12:05:01 +0100

The latest British Chambers of Commerce (BCC) Monthly Business Survey, published today, reveals the continued threat to the UK labour market, with one in two firms considering or certain to make redundancies over the next 6 months.

Businesses Given Free Access To Thousands Of New Opportunities

Fri, 07 Aug 2009 12:00:22 +0100

Every small business in the UK will now have free access to thousands of lower value government contracts on the Government’s website www.supply2.gov.uk.

Credit managers facing redundancy as credit crunch bites deeper

Wed, 05 Aug 2009 17:12:13 +0100

The Credit Crunch is affecting those credit managers responsible for keeping the cash flowing, according to new research.

Ombudsman - Bad for customers

Tue, 04 Aug 2009 13:31:09 +0100

Customers will be the ultimate losers from an expensive and unnecessary supermarket Ombudsman, said the British Retail Consortium (BRC).

Smaller manufacturers see fall in orders and output easing

Tue, 04 Aug 2009 13:21:00 +0100

The rate of decline in orders and output among the UK’s small and medium-sized manufacturers is slowing, according to the Confederation of British Industry's (CBI) latest quarterly SME Trends Survey. Moreover, medium-sized companies are predicting a return to growth in the next quarter, thanks to an improvement in export orders.

Atradius responds to the recent press release regarding pre packs from the ABI

Mon, 03 Aug 2009 18:32:02 +0100

Shaun Purrington, regional director of Atradius UK and Ireland said: “We feel strongly that further steps need to be taken as a matter of urgency to protect the interests of unsecured creditors during the ‘pre-pack’ process.

ABI Calls on Insolvency Service to improve transparency of pre-pack administrations

Mon, 03 Aug 2009 15:41:31 +0100

The ABI is calling for reforms to the system that regulates ‘pre-pack’ administrations, to give unsecured creditors more protection against business failures.

ifs School of Finance welcomes Treasury Committee recommendation on banking qualifications

Mon, 03 Aug 2009 11:40:51 +0100

The ifs School of Finance has welcomed the report published by the House of Commons Treasury Select Committee today on the Banking Crisis, and in particular it's recommendation that appropriate qualifications should be a core indicator when assessing bank practitioners' competence and suitability for a particular role.

Banking specialist joins Harrison Clark insolvency services team

Fri, 31 Jul 2009 13:22:53 +0100

Harrison Clark has expanded its insolvency services team with the appointment of a senior banking specialist. Jason Newbold joins the firm in the newly created role of Head of Recoveries, in response to increased demand for its services.

BRC urges more bank lending and credit insurance

Fri, 31 Jul 2009 11:40:15 +0100

A third of small and medium-sized (SME) retailers and almost a fifth of large retailers have experienced a reduction in bank lending in the last three months, according to a major business trade body.

63 profit warnings in Q2 2009: picture more complex than numbers suggest

Thu, 30 Jul 2009 09:56:54 +0100

Research released earlier this month by Ernst & Young shows that UK plc issued 63 profit warnings in the second quarter of 2009, a year-on-year drop of 36% and the lowest second quarter since 2003.

Call for businesses to pay fair

Wed, 29 Jul 2009 10:06:41 +0100

Rosie Winterton visited Seevent Plastics near Brighton to highlight the importance of ensuring that companies pay their suppliers promptly, without changing their agreed terms.

Advanced Manufacturing Building Britains Future

Wed, 29 Jul 2009 09:59:32 +0100

A significant package of measures to help UK manufacturers seize the opportunities provided by emerging technologies was launched today by Business Secretary Lord Mandelson.

More Businesses Encouraged To Consider Government-Backed Loan

Tue, 28 Jul 2009 09:41:07 +0100

Business Minister Shriti Vadera today welcomed the Business and Enterprise Select Committee report on the Enterprise Finance Guarantee (EFG), which has seen thousands of businesses benefit from the government guaranteed loan.

FPB calls for case-by-case bank lending to help struggling small businesses

Mon, 27 Jul 2009 15:51:43 +0100

A business support and lobby group today welcomed the Chancellor’s meeting with the British Bankers’ Association over a shortage in lending to recession-hit small firms.

June '09 small business figures for the high street banks

Mon, 27 Jul 2009 10:02:47 +0100

Lending to small businesses rose by £391 million in June, whilst almost 50,000 new small business banking relationships were established. Deposits from small business grew by £577 million.

Statistics from the Office of National Statistics

Fri, 24 Jul 2009 17:24:01 +0100

Statistics from the Office of National Statistics (ONS) show that Gross Domestic Product (GDP) decreased by 0.8 per cent in the second quarter of 2009, compared with a decrease of 2.4 per cent in the first quarter.

More Businesses Encouraged To Consider Government-Backed Loan

Fri, 24 Jul 2009 16:59:52 +0100

Enterprise Finance Guarantee scheme falls short, says FLA

Fri, 24 Jul 2009 12:27:30 +0100

Commenting on today’s report by the Business and Enterprise Committee report on the Enterprise Finance Guarantee scheme, Julian Rose, Head of Asset Finance at the Finance & Leasing Association, said:

Contraction in manufacturing is easing, but return to growth could be distant - CBI

Wed, 22 Jul 2009 19:26:17 +0100

The contraction in manufacturing output is easing, but a return to growth could still be some way off, the latest quarterly CBI Industrial Trends Survey shows.

Leading restaurant, pub and bar groups see sales ahead 0.4% in June

Wed, 22 Jul 2009 19:12:25 +0100

Britain’s leading restaurant and pub operators are continuing to hold their own despite tough trading conditions. Aggregated figures from 13 major groups show that like-for-like sales in June were ahead 0.4% on the same month last year.

Thomas Eggar LLP advises C & C Marshall Ltd on sale

Wed, 22 Jul 2009 18:01:51 +0100

Leading Southern law firm Thomas Eggar LLP continues to demonstrate its capabilities in the manufacturing sector with the announcement that it has advised C & C Marshall on the sale of its business and assets relating to drainage and rainwater products. The sale stemmed from a strategic realignment by C & C Marshall to enable it to concentrate on its key product range and future growth opportunities.

LPM delivers outsource to in-source solution for MAN Financial Services

Wed, 22 Jul 2009 17:57:09 +0100

The credit crunch has certainly made it more difficult for expanding businesses to get finance from traditional sources. However, this situation has also provided opportunities for companies with access to capital to establish their own captive leasing operations and in doing so enter new markets or better manage their own growth.

R3 welcomes Calman commission call to change Insolvency Laws without delay

Fri, 17 Jul 2009 17:17:38 +0100

R3, the insolvency trade body, has welcomed the Calman Commission’s call to clean-up company insolvency law in Scotland by re-reserving all power on the issue to Westminster. And it strongly backed the Calman conclusions that changes should be made ‘with a minimum of delay.’

Deeper cost-cutting on the cards as firms look to make sustainable change

Fri, 17 Jul 2009 15:33:39 +0100

Companies are planning further cuts of up to 25 per cent in the next couple of years, having already done the ‘easy bit’ by trimming costs and curbing discretionary expenditure, according to a survey by CFO Europe Research Services for KPMG.

FPB urges Competition Commission to help small retailers, not just the big four

Fri, 17 Jul 2009 15:28:11 +0100

A business support and lobby group today urged the Competition Commission to consider the plight of Britain’s small retailers, instead of the major supermarkets.

Up to 40,000 small businesses to be hit by new accountancy rules

Thu, 16 Jul 2009 16:26:28 +0100

Hundreds of thousands of UK small businesses will be affected by new accountancy rules for leasing if proposals in a discussion paper by the International Accountancy Standards Board are adopted. According to a joint response by the Forum of Private Business (FPB) and the Finance & Leasing Association (FLA), the impact on small businesses has been ignored.

CC sets out case for competition test for grocery retailers

Thu, 16 Jul 2009 16:14:55 +0100

The competition test for grocery retailers will bring lasting benefits for consumers, the Competition Commission (CC) has provisionally concluded in a report published today.

Inconsistent bank lending practices inhibits SME access to finance

Thu, 16 Jul 2009 16:12:41 +0100

Banks need to be more consistent and transparent in their relationships with small and medium sized businesses (SMEs), according to new research by the Institute of Chartered Accountants In England and Wales (ICAEW). Differences in both lending decisions and relationships between bank managers and their head offices are having an adverse affect on small businesses when applying for finance.

Mortgage Brain adds ClearStart Partnerships to platform

Thu, 16 Jul 2009 16:01:12 +0100

ClearStart Partnerships, the UK’s leading supplier of B2B debt solutions is partnering with Mortgage Brain, the market leading technology solutions provider, enabling intermediaries to gain free access to the complete range of debt solutions as a way of assisting their clients who are struggling with debt and who are unable to refinance, plus as a viable alternative revenue stream.

British business future lies with engaging its employees

Thu, 16 Jul 2009 15:52:11 +0100

Involving employees fully in the future of the firms they work for will be a key step if businesses are to innovate and take advantage of new opportunities, an independent review announced today.

Grim unemployment figures set to rise further - CBI

Wed, 15 Jul 2009 15:09:23 +0100

Commenting on today’s figures showing that unemployment has hit 2.38 million, the highest since 1995, Katja Hall, Director of Employment Policy, at the Conferderation of British Indusrty (CBI), said:

May 09 small business figures for the high street banks

Wed, 15 Jul 2009 14:58:41 +0100

New figures released today by the British Bankers Association (BBA), show that high street banks' lending to small businesses rose by £153 million in May and deposits increased by £250 million.

Bibby bolsters management team in Yorkshire and the North East

Mon, 13 Jul 2009 17:35:06 +0100

Leading invoice finance provider, Bibby Financial Services, has strengthened its team in the north of England by appointing Mark Storey as managing director for Yorkshire and the North East.

Cattles Invoice Finance expands South West team

Fri, 10 Jul 2009 09:12:44 +0100

Cattles Invoice Finance (CIF) has strengthened its Thames Valley and South West service offering with the appointment of Martin Bennison to the position of regional head of sales.

MPs debate FPB research on red tape affecting small firms

Thu, 09 Jul 2009 15:06:57 +0100

A Westminster committee this week responded to the FPB’s research into red tape as part of a review of Government legislation.

FSB takes Keep Trade Local campaign to Number 10

Thu, 09 Jul 2009 15:04:44 +0100

The Federation of Small Businesses (FSB) today hands over its national Keep Trade Local (KTL) petition to Number 10, Downing Street. FSB National Chairman, John Wright will hand over the petition which received over 55,000 signatures.

Index of Production - May 2009 - ONS

Tue, 07 Jul 2009 11:52:05 +0100

Figures just released by the Office of National Statistics (ONS) show that, in the three months to May 2009, the seasonally adjusted chained volume index for the output of the production industries decreased by 1.8 per cent compared with the previous three months.

PwC comment on Graduate job prospects / AGR Winter Survey

Mon, 06 Jul 2009 17:17:17 +0100

PricewaterhouseCoopers LLP, the UK 's top graduate employer, comments on the Association of Graduate Recruiters Winter Survey results reporting that graduate vacancies have plummeted by 24.9% in the latest recruitment round, approaching levels not seen since the last recession in 1991. The firm has maintained graduate recruitment levels at around 1000 for the past three years.

Latest corporate insolvency figures show steep drop

Fri, 03 Jul 2009 17:41:24 +0100

Monthly corporate insolvency figures from KPMG show a substantial drop in the number of companies going into administration.

Strategic recruitment to strengthen SEB Cash Management in Germany

Thu, 02 Jul 2009 18:22:55 +0100

Manfred Fleckenstein, a well-known senior transaction banking professional in the German market, will join SEB Cash Management on 1 September as head of CM Advisory Germany.

Crown appointed to manage £1 billion commercial property portfolio

Wed, 01 Jul 2009 12:18:10 +0100

Crown Mortgage Management has been called under standby to service a £1 billion securitized commercial property portfolio of small and medium sized loans. The appointment is the first time a ‘standby servicer’ has ever been called upon to take over a commercial or residential portfolio in the UK.

How does your jurisdiction rank for international dispute resolution?

Tue, 30 Jun 2009 22:07:40 +0100

As dispute resolution becomes ever more international, new research by European and international law firm Taylor Wessing LLP provides a comprehensive assessment of current trends and attitudes in the sector.

Two new Partners at corporate restructuring specialists MCR

Tue, 30 Jun 2009 19:18:29 +0100

MCR, the corporate restructuring and insolvency specialist, has appointed two new partners with effect from 1 July 2009 in a move that aims to strengthen further the firm’s mid-market and large corporate offering.

ABI reaction to draft Financial Services and Business Bill

Mon, 29 Jun 2009 17:41:55 +0100

Responding to details of the draft Financial Services and Business Bill, Peter Vipond, the Association of British Insurers' (ABI) Director of Financial Regulation, said:

Prepare for success with lenders, says business group ahead of summit on finance

Mon, 29 Jun 2009 15:36:16 +0100

Amid calls for the Government to replace its temporary lending guarantees with a long-term plan to secure finance for the future, the Forum of Private Business (FPB) is working to help small businesses access the funding they need.

Code of practice on tax for banks

Mon, 29 Jun 2009 13:10:47 +0100

The Government today published a consultation document on a code of practice on tax for banks. The code sets out the behaviours the Government expects from banks in the management of their tax affairs and in their relationship with HMRC, including governance, tax planning and the relationship between banks and HMRC.

New proposals for businesses are unlikely to result in significant adminstration reductions

Thu, 25 Jun 2009 12:50:43 +0100

The Insolvency Service is consulting on two important measures that will offer additional financial help to large and medium-sized companies facing difficulties. These companies will be given more time and space while they seek legally binding Company Voluntary Agreements (CVAs) with their creditors.

Recession lengthens the working day

Wed, 24 Jun 2009 11:12:31 +0100

The economic downturn is making people work harder, according to a survey conducted by international recruitment consultancy Robert Walters.

Best of UK Businesses Make the Final of MX09

Fri, 19 Jun 2009 16:08:40 +0100

The world’s economy may have slowed down but some British businesses are battling through the downturn and have reached the final of the Institution of Mechanical Engineers’ Manufacturing Excellence Awards 2009 (MX09).

Manufacturing conditions remain tough as exports orders weaken - CBI

Fri, 19 Jun 2009 11:02:20 +0100

Manufacturers experienced another challenging month as overseas demand for UK-made goods weakened again, according to the CBI’s latest monthly survey.

Putting a price on privacy protection

Fri, 19 Jun 2009 10:27:11 +0100

The Information Commissioner’s Office (ICO) is inviting interested parties to bid to undertake a three-month research project with the aim of developing a sound business case to persuade organisations to invest in proactive privacy protection.

Small business group launches www.smallbusinesschannel.co.uk

Fri, 19 Jun 2009 10:15:04 +0100

Business owners are benefitting from the most comprehensive resource of recorded information and support available on the web, courtesy of the Forum of Private Business (FPB) and GuruOnline. From bank lending to business development, entrepreneurs are now able to view 2,000 short videos of experts offering essential advice to help them beat the downturn.

HML appoints new director of client relations

Fri, 19 Jun 2009 09:41:10 +0100

HML has announced the appointment of Martin Frazer as Director of Client Relations from 17 June, following the appointment of Jeff Quilter as Director of Strategy.

HML announces new executive team structure

Wed, 17 Jun 2009 18:54:53 +0100

HML, the financial outsourcing provider and subsidiary of Skipton Group, has announced it has restructured its executive team. The move comes in the wake of a number of key strategic developments including the acquisition of integration of Baseline Capital and the announcement HML is to integrate with former Scarborough Building Society subsidiary SMS.

Cash flow key to unlock UK business investment

Wed, 17 Jun 2009 18:49:47 +0100

Although a potential end to the recession may be in sight, times could remain stormy for UK businesses for some time according to the CBI. With that in mind, leading independent financier Bibby Financial Services is urging businesses to consider their cashflow options now to ensure they have the opportunity to grow once the financial forecast improves somewhat.

R3 welcomes Calman commission call to change Insolvency Laws without delay

Tue, 16 Jun 2009 18:13:40 +0100

Inflation risks can only be dealt with after the recession ends

Tue, 16 Jun 2009 17:53:04 +0100

Commenting on the May inflation figures published today by the ONS, David Kern, Chief Economist at the British Chambers of Commerce (BCC), said:

Monetary Policy Committee: appointment of Adam Posen to the MPC

Tue, 16 Jun 2009 17:51:00 +0100

The Chancellor today announced that Adam Posen has been appointed to succeed Tim Besley as an external member on the Monetary Policy Committee (MPC). The appointment, which was made in accordance with the new process for external MPC appointments announced by the Chancellor in June 2008, will take effect on 1 September 2009.

Banks stress need for international cooperation on reform

Mon, 15 Jun 2009 15:11:30 +0100

Proposed reform of UK banking regulation needs more work and must take account of how British financial services interact with global markets the British Bankers’ Association [BBA] said today.

New Insurance Sector Director at the FSA

Mon, 15 Jun 2009 12:43:42 +0100

The Financial Services Authority (FSA) today announced the appointment of Ken Hogg, currently interim Chief Financial Officer at MGM Assurance, as Insurance Sector director.

HSBC sells its 49 per cent stake in HSBC Merchant Services

Fri, 12 Jun 2009 16:29:01 +0100

HSBC Bank plc has sold its 49 per cent holding in HSBC Merchant Services LLP (HMS), the card processing joint venture that serves its UK business clients, to its partner in the venture, Global Payments Inc., for a consideration of US$307.7 million in cash.

Barclays comment on the Office of National Statistics (ONS) manufacturing figures for April 2009

Wed, 10 Jun 2009 15:25:37 +0100

Graeme Allinson, Head of Manufacturing, Transport and Logistics at Barclays Commercial Bank, said:

Hilton-Baird bridges the funding gap for BLOODHOUND SSC land speed record project

Tue, 09 Jun 2009 16:01:50 +0100

Leading independent financial services provider Hilton-Baird Financial Solutions has helped keep Richard Noble’s latest world land speed record project on track after securing new short-term funding.

Opal ready to step into breach following keydata administration

Tue, 09 Jun 2009 15:57:48 +0100

OPAL, the UK’s largest provider of structured product services and administration to investment companies, banks, building societies and other third parties, has contacted PWC and other major structured product providers to offer ongoing support for all portfolios following KeyData being placed into administration.

National lobby group appoints Bollington businessman as director

Tue, 09 Jun 2009 15:10:25 +0100

The Forum of Private Business (FPB) has appointed Howard Jackson as a non-executive director. Howard is the Managing Director of HCSS Education – based in Bollington, Cheshire – which helps schools and local authorities to manage their finances.

April 09 small business figures for the high street banks

Tue, 09 Jun 2009 13:02:03 +0100

Lending to small businesses by the high street banks rose by £287 million in April and there were over 48,000 new small businesses banking relationships established. Deposits from small businesses rose by £119 million.

FSB welcomes appointment of Sir Alan Sugar as Enterprise Champion

Mon, 08 Jun 2009 16:14:59 +0100

The Federation of Small Businesses (FSB) is celebrating victory with the Government's introduction of an Enterprise Champion – in the form of respected businessman Sir Alan Sugar.

BCC and UKTI chiefs in joint drive to get more British businesses exporting

Mon, 08 Jun 2009 16:08:16 +0100

Two of the UK’s foremost international trade advocates have joined forces to encourage more British businesses to rediscover their mercantile spirit during the recession.

Venture Finance increases London presence

Mon, 08 Jun 2009 15:12:54 +0100

Leading Invoice and Assed Based Lender Venture Finance today announces the appointment of Paul Levy as Business Development Manager to its London office.

Credit insurance scheme 'doesn't hit the mark'

Fri, 05 Jun 2009 16:18:57 +0100

The Government’s proposed credit insurance scheme for small businesses falls well short of the mark according to Bibby Financial Services.

BCC and Government form partnership to promote World Trade Week

Wed, 03 Jun 2009 08:17:48 +0100

Ahead of World Trade Week UK on June 8th, the British Chambers of Commerce (BCC) has teamed up with the Department for Business Enterprise and Regulatory Reform (BERR) and the Department for International Development (DFID) to help promote the benefits of global trade.

Accountants report 'bad debt epidemic' - Survey reveals scale of problem faced by UK businesses

Mon, 01 Jun 2009 15:19:25 +0100

Research commissioned by premier Invoice and Asset Based Lender (ABL), Venture Finance has revealed the overwhelming scale of bad debt being suffered by UK businesses at the front-line of the recession.

60,000 Tax Arrears Ticking Time Bombs

Mon, 01 Jun 2009 14:55:15 +0100

Over 60,000 companies have agreed 'time to pay' tax arrangements with HMRC since the Business Payment Support Service (BPSS) was launched late last year.

Micro businesses must have a designated Small Business Sector Skills Council

Fri, 29 May 2009 13:36:19 +0100

The UK's smallest businesses – which make up the majority of the workforce – must be given their own Small Business Sector Skills Council that will focus on the needs of micro-firms, according to the Federation of Small Businesses (FSB).

New credit show for Scotland

Fri, 29 May 2009 13:30:17 +0100

Scotland’s leading exhibition organiser, QD Events, has launched a new trade show for the credit industry, Credit Show Scotland. The show, the first of its kind in Scotland, will take place at the SECC, Glasgow on March 23 2010.

Retail trading conditions remain tough as sales fall CBI

Thu, 28 May 2009 16:43:25 +0100

Retail sales fell again in the year to May, following a brief pause in April, the CBI said today. This month’s decline in sales was in line with retailers’ expectations and, other than in April, was the least negative result in nearly a year.

Holiday in the UK to 'boost small businesses and the economy'

Thu, 28 May 2009 16:01:08 +0100

The Forum of Private Business (FPB) is campaigning to promote tourism in the UK by encouraging cash-strapped holiday-makers to explore the diversity available on their doorsteps this summer.

Graduates and school leavers set to sweat over job prospects in this summers tight labour market

Wed, 27 May 2009 12:08:51 +0100

The latest CIPD/KPMG Labour Market Outlook report highlights a jobs market sure to strike fear into school-leavers and graduates taking first steps into the jobs market. The labour market outlook looks set to be fraught for all young people, with nearly half (45%) of UK companies not planning to recruit from either of these groups.

European Burdens Barometer reveals staggering cost of red tape on business

Wed, 27 May 2009 11:51:17 +0100

Research published today by Eurochambres, the representative body for Chambers of Commerce across Europe, has revealed that the cumulative cost of red tape on Europe’s businesses over the last 11 years amounts to a staggering €1 trillion. Similarly, estimates of the annual cost of all EU regulations are in excess of 12 per cent of EU GDP.

Improvements in bank lending for some small firms boosting business confidence

Fri, 22 May 2009 13:21:52 +0100

The Forum of Private Business (FPB) is helping small firms to maximise signs that business confidence is slowly returning despite falling sales, late payments and spiralling costs.

BBA LIBOR: the worlds most important number now tweets daily

Fri, 22 May 2009 10:12:44 +0100

The benchmark for an estimated $350 trillion worth of financial contracts worldwide is now using the online messaging service Twitter to provide daily updates to borrowers.

Manufacturing investment suffers in Q1, says FLA

Thu, 21 May 2009 12:20:41 +0100

In the first quarter of 2009 most categories of asset finance saw a drop in business from the levels seen last year. Finance for plant and machinery fell by 44 per cent, reflecting the impact of the recession on UK manufacturing.

Aons Susan Ross appointed chair of British Exporters Association

Wed, 20 May 2009 07:48:09 +0100

Susan Ross, director of Aon Trade Credit, has been appointed chair of the British Exporters Association (BExA) after three years as deputy-chair. She succeeds Richard Hill of BAE Systems in the position.

BCC launches European manifesto

Mon, 18 May 2009 17:17:16 +0100

The British Chambers of Commerce (BCC) has today published its European manifesto ahead of the EU Parliamentary elections on June 4.

2009 World Credit Congress and Exhibition to be Held in Dublin

Thu, 14 May 2009 09:10:02 +0100

Dublin, Ireland has been chosen to host the 2nd World Credit Congress & Exhibition (WCCE). The WCCE is primarily the platform for the exchange of ideas, knowledge, research, as well as being a forum for interaction between national and international credit professionals, risk management professionals, CEOs and business owners who are involved in or concerned with the function of credit collections.

Raphaels Bank appoints new CEO

Thu, 14 May 2009 09:07:56 +0100

Miles Roberts, formerly Managing Director of specialist motor finance company, Southern Finance, has been appointed as the new CEO for Southern Finance’s sister company, R Raphael & Sons plc.

More FTSE 100 companies sign up to Prompt Payment Code

Wed, 13 May 2009 18:21:25 +0100

The FPB is welcoming the commitment of an additional 19 FTSE 100 listed companies to sign up to the Government's Prompt Payment Code following today's meeting of business representatives and officials from the Department of Business, Enterprise and Regulatory Reform (BERR).

Fox joins Else to be head of property

Wed, 13 May 2009 16:14:31 +0100

A leading Staffordshire commercial property lawyer has joined Else Commercial Solicitors as head of property.

FSB Calls on European Election Candidates to Think Small First

Mon, 11 May 2009 16:32:51 +0100

The Federation of Small Businesses (FSB) is calling on candidates in the European Elections to Think Small First and to remember that small businesses have a vital role to play in reversing economic meltdown and tackling climate change.

Sign up to Prompt Payment Code, another big business is named and shamed

Fri, 08 May 2009 15:42:12 +0100

Following the re-entry of the retail giant Argos into its Late Payment Hall of Shame, four years after its first appearance, the Forum of Private Business (FPB) is urging the UK's biggest businesses to sign up to the Government's Prompt Payment Code.

State Street passes stress test

Fri, 08 May 2009 12:04:59 +0100

State Street Corporation today announced that the Board of Governors of the Federal Reserve System has determined that, under the stress test administered under The Supervisory Capital Assessment Program (SCAP), State Street does not need additional capital.

Report sets out vision for UK financial services sector

Thu, 07 May 2009 12:20:29 +0100

A reformed financial services sector will play an important role in Britain's economic recovery, according to a report published today by the Financial Services Global Competitiveness Group, co-chaired by the Chancellor Alistair Darling and former Citi Chairman Sir Win Bischoff.

Bank of England needs to go further with its quantitative easing programme

Wed, 06 May 2009 16:21:43 +0100

In advance of the Bank of England’s Monetary Policy Committee (MPC) announcement on interest rates tomorrow (7 May), John Hawksworth, head of macroeconomics, PricewaterhouseCoopers LLP, said:

Asia's growth prospects exceed Western growth

Wed, 06 May 2009 09:29:56 +0100

ING Investment Management (IM) is convinced the Asian region has the strongest baseline position for world economic growth. ING IM believes Asian emerging markets will produce the strongest growth with high population growth and the proximity of major economic powers (China and India) as major supports. Asia accounts for the majority of the real gross domestic product of all emerging economies (around 61%).

Lending restrictions limit benefit of enhanced capital allowances for small businesses

Tue, 05 May 2009 15:39:45 +0100

The Forum of Private Business (FPB) is joining the Finance and Leasing Association (FLA) in pointing out that, despite the Government’s claims, increasing capital allowances in the Budget to encourage investment will not significantly benefit small businesses.

Crown Mortgage Management receives backing from global real estate manager Forum Partners

Tue, 05 May 2009 15:27:05 +0100

Forum Partners, a leading global real estate investment management firm, today announced it has completed an investment in the Crown group of companies and Crown Mortgage Management, an independent provider of mortgage management services.

Government's trade credit insurance top up scheme goes live

Fri, 01 May 2009 12:03:33 +0100

Firms suffering from a reduction in credit insurance will from today be able to purchase up to six months top-up cover as part of the Government's trade credit insurance scheme, announced in last week's Budget.

Report of the proceedings of the Channel Finance Summit

Thu, 30 Apr 2009 18:12:32 +0100

The Professional Computing Association has over 700 members which includes vendors, distributors, resellers and other channel partners & service providers. P&A Receivables plc provides a wide range of financial services in a variety of markets.

UK welcomes progress by Isle of Man on Tax Information Exchange

Thu, 30 Apr 2009 15:49:24 +0100

The United Kingdom welcomes the Isle of Man’s recognition by the Organisation for Economic Co-operation and Development (OECD) as a jurisdiction that has substantially implemented the internationally agreed standard on exchange of information in tax matters and on its ongoing progress in signing Tax Information Exchange Agreements (TIEAs).

PwC research shows UK insolvencies continue to rise

Thu, 30 Apr 2009 13:18:58 +0100

5,483 organisations became insolvent in the first three months of 2009, trustees in sectors hit hardest by the recession, including manufacturing, retail and construction, face particular challenges.

UK protects working time opt out

Tue, 28 Apr 2009 15:58:20 +0100

Talks on the EU Working Time Directive have broken down without agreement being reached. The collapse sees the end of the European Parliament's proposal to phase out the opt-out in three years. The UK and other countries have consistently held firm against this proposal.

Real help with lending and advice for local businesses

Mon, 27 Apr 2009 16:42:24 +0100

Business Minister Shriti Vadera today urged local companies to take advantage of Government-backed support on offer to help them through the economic downturn, at a regional lending roadshow held in Birmingham.

Navigating employment law a major problem for UKs small firms

Mon, 27 Apr 2009 13:02:42 +0100

Navigating a mass of employment law is a major problem for the UK’s smallest firms, with nearly half having faced difficulties working with the legislation, according to new research from the British Chambers of Commerce (BCC).

FSB reaction to the Chancellor's 2009 Budget

Fri, 24 Apr 2009 18:06:11 +0100

The Federation of Small Businesses (FSB) today warned that the Chancellor's budget largely ignored the small businesses that are at the heart of job creation and economic recovery.

Small businesses losing faith in Government following 2009 Budget

Fri, 24 Apr 2009 18:00:16 +0100

Research carried out by the Forum of Private Business (FPB) following the 2009 Budget suggests that owners of smaller firms are losing faith in the Government.

GDP Growth - UK output decreases by 1.9%

Fri, 24 Apr 2009 12:30:02 +0100

According to latest figures from the Office of National Statistics (ONS) the UK Gross Domestic Product (GDP) contracted by 1.9 per cent in the first quarter of 2009, compared with a decrease of 1.6 per cent in the fourth quarter. The increased rate of decline in output was due to weaker services and production output.

Government announces trade credit insurance cover for business

Fri, 24 Apr 2009 09:39:55 +0100

Business Secretary Lord Mandelson today launched a scheme providing up to £5bn of additional trade credit insurance to businesses who have suffered reductions in their level of cover.

Football club relegated after administration

Fri, 24 Apr 2009 09:36:58 +0100

Southampton FC were effectively relegated from the Championship (second division) on Thursday when the Football League docked the club 10 points for going into administration earlier this month.

R3 welcomes Budgets support of business rescue culture

Thu, 23 Apr 2009 18:19:26 +0100

R3, the insolvency trade body welcomed yesterdays Budget announcement that the Government’s insolvency service will be consulting on company rescue procedures, and introducing a new report on pre-pack administrations.

Incentives for investors must be back by support for businesses and consumer lenders

Wed, 22 Apr 2009 18:08:30 +0100

Today’s Budget recognises that incentives for business and personal investment can help lift the UK out of recession. But many businesses can only access capital allowances via leasing, and the Budget does nothing to make this easier.

Budget will do little to help small businesses, says business lobby group

Wed, 22 Apr 2009 18:02:53 +0100

The 2009 Budget will provide little support for small businesses to survive and grow, the Forum of Private Business (FPB) is warning.

Bridge Business Recovery set for expansion in Kent following key appointment

Wed, 22 Apr 2009 17:54:02 +0100

Insolvency experts Bridge Business Recovery LLP are aiming to become the leading business turnaround specialists in Kent after appointing a new Partner in Tunbridge Wells earlier this month.

Now is the time to start moving the UK economy from survival mode to recovery

Tue, 21 Apr 2009 13:33:37 +0100

With the Chancellor of the Exchequer due to give his Budget speech tomorrow, Barry Marshall, UK head of tax at PricewaterhouseCoopers LLP, is urging Alistair Darling to provide a clear vision of how the tax system is going to help rebuild the UK economy and emerge from recession in a strong, competitive and sustainable position.

Modify Working Tax Credits to subsidise short-time working

Mon, 20 Apr 2009 15:56:26 +0100

The Forum of Private Business (FPB) is urging the Government to help small firms control employment costs yet retain key staff by modifying the existing Working Tax Credits Scheme (WTC) in support of reduced working hours.

Rapid growth in online finance marketplace reported

Mon, 20 Apr 2009 13:01:58 +0100

Smartfundit.com, the world’s first online business finance marketplace, today announced that the level of demand for financing through its online platform rose to a total of £20 million in March, up from £3.1 million in January.

Go-between needed to 'reconnect banks and business'

Fri, 17 Apr 2009 12:02:25 +0100

Small businesses need a go-between to help rebuild ailing relationships with the banks and revive the flagging economy, latest figures from the Federation of Small Businesses (FSB) show.

Firstsource restructures its leadership team

Fri, 17 Apr 2009 11:58:36 +0100

Firstsource Solutions, a leading global provider of business process outsourcing (BPO) services, has announced the restructuring of its leadership team, to consolidate the company’s position in its key vertical sectors of Banking, Financial Services & Insurance (BFSI), Telecommunications & Media, and Healthcare.

Small signs of recovery 'must be nurtured' in 2009 Budget

Thu, 16 Apr 2009 16:30:32 +0100

Following research showing some small businesses are beginning to experience an improvement in market conditions and the availability of credit, the Forum of Private Business (FPB) is urging the Government to put in place a strategy in next week’s Budget to nurture economic recovery by boosting business and consumer confidence.

Support required now for more small businesses to win government contracts

Thu, 16 Apr 2009 14:57:43 +0100

Proposals designed to help more small businesses win government contracts should be prioritised in the forthcoming Budget, the Forum of Private Business (FPB) is arguing.

Year on year business failures increase by 35%

Thu, 16 Apr 2009 11:43:01 +0100

Leading business information provider, Equifax, has released its Business Failures Report for the first quarter of 2009. The comparison with the same period in 2008 is stark with an overall increase in businesses going bust of 35%.

Small firms must be given fairer opportunity to access public contracts

Thu, 16 Apr 2009 11:36:52 +0100

The All Party Parliamentary Small Business Group has published its report into SME access to public procurement. Commenting, David Frost, Director General of the British Chambers of Commerce (BCC), said:

Real help with lending and advice for local businesses

Tue, 14 Apr 2009 16:32:05 +0100

Business Minister Ian Pearson today urged local companies to take advantage of Government-backed support on offer to help them through the economic downturn, at a regional lending roadshow in Greater Manchester.

Art displays not answer to empty shops

Tue, 14 Apr 2009 16:15:19 +0100

The way to prevent ‘high streets becoming ghost towns' is to remove burdens and help retailers survive in them, continuing to provide jobs and services.

Governments high street plan laudable but fails to address fundamental problem

Tue, 14 Apr 2009 16:07:11 +0100

The government has today announced plans which it hopes will prevent high streets turning into ghost towns. The plans include using empty shops as art galleries and cafes.

Debt denial - two thirds of those with major financial problems are not seeking advice

Thu, 09 Apr 2009 16:23:42 +0100

R3, the insolvency trade body, is concerned that those with financial problems do not think they ‘need’ debt advice, while those that do seek advice are not always going to the right places for it. Last month the OFT told 11 financial management businesses to close down websites that ‘looked like’ governmental or charity advice sites.

Give small businesses a break this Easter

Thu, 09 Apr 2009 10:40:41 +0100

As the nation prepares for the Easter Bank Holiday break many struggling small business owners will be considering Northern Ireland or Wales as an ideal destination not just for a break but a relief from the increasing costs of business rates.

Commission fights late payments

Wed, 08 Apr 2009 17:41:51 +0100

Despite some improvements during the past years, late payments in commercial transactions between companies or between businesses and public authorities still happen in the EU.

Government urged to increase scrutiny of banks lending to small businesses

Wed, 08 Apr 2009 17:01:22 +0100

Business owners struggling to access finance from major lenders are sceptical about support from the Government, despite its commitment to scrutinise the behaviour of banks via its Small Business Lending Monitoring Panel.

Hitachi Consulting acquires UK IT consulting firm

Wed, 08 Apr 2009 11:38:55 +0100

Hitachi Consulting, the global business and IT consulting company of Hitachi Ltd., today announced that it has acquired Edenbrook Ltd., a United Kingdom-based IT consulting firm which specialises in delivering Microsoft and Oracle solutions. Edenbrook’s client base includes Virgin Media, easyJet, BUPA, Lloyds TSB and Whitbread.

FLA calls for chancellor to "get Britain lending"

Wed, 08 Apr 2009 11:31:16 +0100

In its Budget Submission to the Chancellor the Finance & Leasing Association (FLA) has proposed an extension of capital allowances for SMEs.

Government 'must take action' to save vital rural firms in April's Budget

Wed, 08 Apr 2009 11:04:03 +0100

Rural businesses continue to struggle in the recession with over eight in ten seeing costs rise and nearly half seeing a decrease in trade, a Federation of Small Businesses (FSB) poll reveals.

BCC welcomes EIB lending package for car industry

Wed, 08 Apr 2009 10:56:28 +0100

Commenting on the announcement that the European Investment Bank (EIB) is to provide loan guarantees to Jaguar Land Rover and Nissan, David Frost, Director General of the British Chambers of Commerce (BCC), said:

Pace of service sector decline appears to be slowing

Tue, 07 Apr 2009 16:37:56 +0100

The results of the Quarter 1, 2009 British Chambers of Commerce Economic Survey confirm that the UK recession is still very serious, and is likely to continue for some time.

IoD response flexible working

Tue, 07 Apr 2009 16:35:58 +0100

Commenting on new flexible working legislation, Alistair Tebbit, Head of Employment Policy at the Institute of Directors (IoD) said:

Government must help small businesses retain staff as well as recruit

Mon, 06 Apr 2009 18:36:03 +0100

Subsidies for companies recruiting and training extra staff will not go far enough to protect employees and small businesses hit by the recession, the Forum of Private Business (FPB) is warning.

Quantitative strategy must be clearer and more forceful

Mon, 06 Apr 2009 18:31:05 +0100

Commenting on the choices facing the MPC at its April meeting next Thursday, David Kern, Chief Economist at the British Chambers of Commerce (BCC), said:

Firms suggest credit crunch 'maybe becoming less severe'

Mon, 06 Apr 2009 15:21:24 +0100

There are signs that the credit crunch may have become less severe for some businesses, according to the latest CBI figures recently published.

Business confidence 'remains weak'

Mon, 06 Apr 2009 15:17:39 +0100

Confidence amongst British businesses remained weak in March, despite a slight increase in firms’ optimism over activity levels, according to the latest Lloyds TSB Corporate Markets Business Barometer.

The average UK house price declined by 1.9% in March

Fri, 03 Apr 2009 16:03:51 +0100

According to the Halifax House Price Index March 2009, house prices declined by 1.9% in March which was lower than February's 2.3% fall: the UK average price has returned to where it was in May 2004 (£157,326).

February 09 small business figures for the high street banks

Fri, 03 Apr 2009 15:49:34 +0100

The latest BBA statistics show that the high street banks' lending to small businesses increased by £211 million in February, similar to the rise recorded in January.

PwC welcomes the measures announced by the G20

Fri, 03 Apr 2009 15:45:27 +0100

John Tattersall, chairman of the UK financial services regulatory practice, PricewaterhouseCoopers LLP, said: "The G20 communiqué is a significant achievement though inevitably a compromise.

Nearly Half of Businesses Failing to Adapt Decision Making to Downturn Industries

Fri, 03 Apr 2009 15:27:04 +0100

Despite the dramatically different and fast changing economic environment in which businesses are now operating, 45 percent of business directors appear to be adopting a head in the sand approach, failing to make strategic changes to their decision making and continuing to pursue the same options for their organisation as they were 12 months ago, according to KPMG research.

British business forced to 'abandon the banks'

Thu, 02 Apr 2009 16:40:18 +0100

Research commissioned by premier Invoice and Asset Based Lender (ABL), Venture Finance has revealed that the number of business clients being refused finance by traditional lenders this year has almost tripled.

BRC welcomes Mastercard scheme fee decision

Thu, 02 Apr 2009 16:32:11 +0100

MasterCard's decision to drop its scheme fees was welcomed by the British Retail Consortium (BRC), who are now urging the banks to pass on the full savings.

Government moves on business rate bills

Wed, 01 Apr 2009 16:42:29 +0100

Following FSB pressure, Chancellor Alistair Darling has scrapped plans to increase business rates by 5 per cent in April, instead limiting the hike to 2 per cent.

Businesses given more time to pay business rates

Wed, 01 Apr 2009 14:55:12 +0100

Businesses will be able spread payment of this year’s inflation up-rating to Business Rates over three years, under new legislation announced by the Government today.

Freeze fuel duty to save small businesses from spiralling costs

Tue, 31 Mar 2009 23:05:11 +0100

Struggling small businesses will be hit by a 6% increase in the cost of fuel in less than 18 months, the Forum of Private Business (FPB) is warning. Following today’s 2p rise in fuel duty, the FPB is calling on the Government to freeze a further increase planned for 2010 in its upcoming Budget, which will be announced on 22 April 2009, in order to ease the cost burden on businesses threatened by closure.

MCR appointed Administrators for toiletries wholesaler and distributor

Tue, 31 Mar 2009 14:30:21 +0100

MCR has announced that Vitality Group Limited, the largest independent toiletries wholesaler in the South East was placed into administration on March 26th, 2009. Andrew Stoneman and Jason Godefroy, partners at MCR, have been appointed as joint administrators.

Getting what you pay for

Tue, 31 Mar 2009 14:26:33 +0100

Late summer is likely to see more than just the usual retail ‘summer
sales’. R3, the trade body for insolvency practitioners believes that
the recession will mean a significant increase in the number of
businesses being sold this year, but warns those companies in a
position to expand to be cautious when completing ‘distressed’ deals.

Blake Lapthorn launches new asset based lending team

Mon, 30 Mar 2009 12:46:56 +0100

Blake Lapthorn is pleased to announce the launch of its new Asset Based Lending (ABL) team. The team, which will be based in Blake Lapthorn's London office, will sit within the firm's Finance Group. The Asset Based Lending team will be headed by partner Chris Willison.

Chancellor's Budget must solve banking and unemployment crises

Mon, 30 Mar 2009 10:03:17 +0100

Federation of Small Businesses launches its Budget submission – with tangible solutions to tackling recession.

Hilton Baird Financial Solutions Wins Industry Accolade

Fri, 27 Mar 2009 11:25:15 +0100

Hilton-Baird Financial Solutions has affirmed its role as one of the UK’s most respected and dynamic asset based funding introducers and solutions providers by scooping the title of Asset Based Finance Broker of the Year at the prestigious Business MoneyFacts Awards Dinner held at the London Marriott Hotel Grosvenor Square, London, last night.

Cost of regulation on British business rises to £77 billion

Fri, 27 Mar 2009 11:03:57 +0100

The British Chambers of Commerce (BCC) has today released its 2009 Burdens Barometer - the first time it has been published during a recession.

Cattles Invoice Finance expands its Manchester team

Fri, 27 Mar 2009 10:57:29 +0100

Independent business funder, Cattles Invoice Finance (CIF), has strengthened its Manchester sales team with the appointment of regional manager, Adele Berry.

Retailers warn of toughest quarter day since last recession

Thu, 26 Mar 2009 18:49:11 +0100

This will be the toughest quarterly rents payments day for at least 18 years warned the British Retail Consortium (BRC), as it urged landlords to show more flexibility on retail rents. Today (Wednesday) is the first quarter day of 2009. Hard-pressed retailers face rent bills totalling hundreds of millions of pounds.

We must fight the recession together - FSB

Tue, 24 Mar 2009 13:46:59 +0100

The National Chairman of the Federation of Small Businesses (FSB) today promised to provide shelter for small businesses struggling through the storm of recession.

CBI calls for budget to build confidence and competitiveness

Mon, 23 Mar 2009 19:08:58 +0100

The Confederation of British Industry (CBI) is calling on the Chancellor to deliver a confidence-building Budget, shaped around supporting jobs, investment and competitiveness through the recession and beyond. The UK’s leading business group is also urging him to come up with a clear and credible strategy to get the public finances back under control.

Small businesses respond to the challenge of the credit crunch

Mon, 23 Mar 2009 18:39:16 +0100

Small businesses continue to have trouble getting new finance, with nearly one fifth seeing an increase in bank fees, according to the latest research by the Federation of Small Businesses (FSB).

Britain's SMEs anticipate deflation

Mon, 23 Mar 2009 17:34:42 +0100

Two thirds (66%) of Britain's small business owners believe that inflation will either flatten out (31%) or possibly decrease (35%) over the course of the year, resulting in a period of deflation, according to research by Bank of Scotland.

Support asset finance for SMEs in the downturn

Fri, 20 Mar 2009 17:03:24 +0100

Responding to comments made at the Federation of Small Business’ annual conference, Stephen Sklaroff, Director General of the Finance & Leasing Association (FLA), said:

Small businesses face a double rates blow

Fri, 20 Mar 2009 16:26:20 +0100

The Forum of Private Business (FPB) is urging the Government to ease the burden of business rates on small businesses. Many are already being hit by the impact of the recession and spiralling costs, yet face a 5% rise in rates in April 2009. In addition, the Government is planning to allow local authorities to impose additional business rates under its Business Rates Supplements Bill.

ICM launches 70 top tips for credit management

Wed, 18 Mar 2009 17:13:48 +0100

Following on from the success of its Managing Cashflow guides and Prompt Payment Code, the Institute of Credit Management (ICM) has published a booklet with 70 tips for good credit management, from knowing your customer to enforcing a judgement.

ACP Accreditation - Achieve better bottom line results

Mon, 16 Mar 2009 17:27:54 +0100

The Credit Crunch is hitting us all and with forecasts of a negative RPI no Credit Management, Debt Management or Collections department can afford to be underperforming.

State Street elects two new board members

Mon, 16 Mar 2009 15:20:41 +0100

State Street Corporation, the world’s leading provider of financial services to institutional investors, today announced the election of Robert Kaplan and Patrick de Saint-Aignan to its board of directors.

One in 56 businesses 'will fail this year'

Mon, 16 Mar 2009 15:14:27 +0100

The number of UK businesses that are expected to fail in 2009 will increase to 36,000 (one in every 56 businesses), according to the latest Industry Watch report by accountants and business advisors, BDO Stoy Hayward LLP.

Recession spawns new breed of business owner

Mon, 16 Mar 2009 10:44:01 +0100

Natural selection is not only confined to the theories of Darwin according to a new study which has unearthed a new breed of business owner, fit to survive the current recession and well into the future.

Business unaware of governments flagship lending scheme

Fri, 13 Mar 2009 11:10:57 +0100

The British Chambers of Commerce (BCC) has today published the results from its latest Monthly Business Survey.

Recession barometer of small businesses highlights continued concerns over lending

Fri, 13 Mar 2009 10:43:48 +0100

The Government and banks could do more to support small businesses struggling to cope with the impact of the recession and credit crunch, a survey carried out by the Forum of Private Business (FPB) suggests.

Finance must now reach automotive supply chain

Thu, 12 Mar 2009 16:32:00 +0100

The Government has met the automotive sector to discuss the help available to the stricken industry. Commenting, David Frost, Director General of the British Chambers of Commerce (BCC), said:

Increasing redundancy payouts could 'backfire on small businesses'

Thu, 12 Mar 2009 15:06:09 +0100

The Forum of Private Business (FPB) is warning that a plan to increase redundancy pay to help workers laid off as a result of the recession could backfire, forcing businesses to close rather than attempting to recover and grow, adding to unemployment and leaving the taxpayer to pick up the bill.

FSB calls on local authorities to listen to business

Thu, 12 Mar 2009 12:14:39 +0100

The Federation of Small Businesses (FSB) today celebrated a new agreement given by local authorities to include small businesses in decision-making.

Small firms being tied to costly rollover contracts by utilities companies

Wed, 11 Mar 2009 17:23:32 +0100

The Forum of Private Business (FPB) is calling on utilities companies to state clearly on bills when contracts with commercial customers are to expire. Many struggling firms are being tied in to costly deals because their contracts are rolled over from one year to the next with little or no warning, leaving them unable to switch suppliers to save money.

P&A Receivables - directors change

Wed, 11 Mar 2009 17:15:02 +0100

The Directors of P&A Receivables Services are pleased to announce changes to their board. Jacky Cooper moves to take over a new role as director of performance management with specific responsibilities for developing the business infrastructure and the development and training of staff. Charles Bliss takes over the role of operations director.

G-T-P Launches Travelodge Business Account Card

Wed, 11 Mar 2009 12:21:30 +0100

G-T-P Group Ltd has launched a new Travelodge Business Account Card, which offers Travelodge business customers up to 8 weeks free credit.

Manufacturing figures highlight urgent need for action

Tue, 10 Mar 2009 16:53:03 +0100

Commenting on the January manufacturing figures, published today by the ONS, David Kern, Chief Economist at the British Chambers of Commerce (BCC), said:

CBI calls for urgent amendments to Business Rates Supplement Bill

Tue, 10 Mar 2009 16:44:41 +0100

Businesses faces a double burden of unwanted extra taxes at the worst possible time if a new bill is passed by Parliament, the Confederation of British Industry (CBI) warned today.

Boom time for white collar crime

Mon, 09 Mar 2009 18:17:10 +0100

PricewaterhouseCoopers LLP is warning its clients and the wider business community to prepare for the increase in workplace crime and fraud that will accompany the UK recession.

Chancellors Budget must offer credible plan to curb future borrowing

Mon, 09 Mar 2009 17:40:02 +0100

The British Chambers of Commerce (BCC) is today publishing its March 2009 Economic Forecast. It comes in the wake of the MPC slashing interest rates to a new historic low and the Bank of England’s move into unchartered territory by creating £75 billion of new money to boost the economy.

CIF promotes Simon Adcock to associate director

Mon, 09 Mar 2009 07:47:39 +0100

The London and South East office of business funder, Cattles Invoice Finance (CIF), has promoted Simon Adcock to associate director.

Small businesses outraged at plans to tax their own car parking spaces

Fri, 06 Mar 2009 16:41:34 +0100

Small businesses are outraged at the Government’s plans to tax them for using their own car parking spaces. Under the Transport Act 2000, local authorities have the power to introduce Workplace Parking Levy (WPL) schemes, allowing them to charge firms which provide employees with private parking.

New figures show small business are depositing less into banks

Thu, 05 Mar 2009 18:28:07 +0100

The latest figures from the British Bankers’ Association (BBA) show that deposits by small businesses into the UK’s banks have eroded substantially.

Businesses advised to plan for the deepest recession since the early '80s

Thu, 05 Mar 2009 11:12:47 +0100

Economists at PricewaterhouseCoopers LLP (PwC) have warned that companies need to plan for a deep and prolonged recession.

January 09 small business figures for the high street banks

Thu, 05 Mar 2009 11:00:01 +0100

The level of banks' lending to small businesses rose by £235mn to £54.2bn in January, new figures from the British Bankers' Association revealed today.

Make finance decisions locally, FSB urges banks

Thu, 05 Mar 2009 10:33:42 +0100

The Federation of Small Businesses (FSB) is calling on banks to restore decision-making powers to local branches and is launching a code of good practice for banks to follow and to support more lending to small firms.

Barclays Commercial Bank launches new initiative to help UK businesses

Wed, 04 Mar 2009 17:41:20 +0100

Barclays Commercial Bank today launches a new initiative to assist its 81,000 business clients in battling recession.

Small businesses call for dedicated utilities watchdog

Tue, 03 Mar 2009 16:13:18 +0100

Small businesses suffering at the hands of utilities companies believe a dedicated watchdog should be restored to ensure they receive an efficient, cost-effective service, research carried out by the Forum of Private Business (FPB) suggests.

Safeguarding Government infrastructure investment

Tue, 03 Mar 2009 14:49:26 +0100

The Chief Secretary to the Treasury, Yvette Cooper, today announced Government action to ensure vital PFI infrastructure projects will go forward as planned despite the current financial market conditions.

BCC launches National Business Recovery Plan

Mon, 02 Mar 2009 13:30:10 +0100

The British Chambers of Commerce (BCC) has today launched a strategic framework outlining the policies required to foster business growth in the short-term and lay the foundations for economic stability in the long-term.

Bank reveals lending to small business customers increased significantly in 2008

Fri, 27 Feb 2009 15:39:07 +0100

Alliance & Leicester Commercial Bank has announced that it plans to increase its total lending to small business customers by over a quarter in 2009. This follows record lending from the bank in 2008, which saw total small business lending balances increase by 49 per cent.

Enhanced recruitment services for ICM members

Fri, 27 Feb 2009 13:21:18 +0100

Hays has signed a strategic partnership with the Institute of Credit Management (ICM) to provide ICM members with an enhanced dedicated recruitment service.

CCR-interactive, 6 October, Central London Download The Pack

Thu, 26 Feb 2009 22:39:19 +0100

The UK’s leading editorial one-day conference is to return on 6 October at the five-star Guoman Tower Hotel in Central London. An Information Pack is now available to download with all the information on this world-class day of knowledge and networking.

Statement on the Governments Asset Protection Scheme

Thu, 26 Feb 2009 16:15:16 +0100

On 19 January the Government set out a comprehensive plan to remove the remaining obstacles to increased bank lending and restore confidence to financial markets. The Government is today announcing the implementation of its Asset Protection Scheme (the “Scheme”).

Over 100 MPs back FSB automatic rate relief bill

Thu, 26 Feb 2009 15:55:24 +0100

Support is growing for a Private Members Bill pioneered by the Federation of Small Businesses (FSB) with over 100 MPs signing an Early Day Motion calling for rate relief to be made automatic for eligible firms.

Paying on time is good for business

Thu, 26 Feb 2009 13:47:42 +0100

A new initiative to promote the benefits of prompt payment has been launched by the Institute of Credit Management (ICM), to coincide with the first official feedback on the success of the government’s new Prompt Payment Code (PPC) and the success of its free business ‘Health Checks’.

Industry leading icm09 award winners announced

Wed, 25 Feb 2009 15:51:38 +0100

Brian Morgan of Veolia Environmental Services UK Ltd was named Credit Professional of The Year at the prestigious icm09 Awards. He fended off stiff competition from Paul Saunders of the National Magazine Co and Jerry Nightingale of BT.

New business restructuring partner at BDO Stoy Hayward

Wed, 25 Feb 2009 15:11:48 +0100

BDO Stoy Hayward LLP is pleased to announce the appointment of Jo Wright as Business Restructuring partner within its business restructuring team in Birmingham.

Top-Up Solutions freed from financial pressure, thanks to Factoring facility

Wed, 25 Feb 2009 12:39:54 +0100

Venture Finance has provided Hounslow-based Top-Up Solutions with a Factoring facility to enable the young company to concentrate on growth during the critical early stages of its operation. The whole deal was completed within six days, allowing Top-Up Solutions fast access to finance just when they needed it most.

'Power shift' from ratings agencies to insurers over credit worthiness

Wed, 25 Feb 2009 10:02:22 +0100

Credit insurers have taken over the mantle from ratings agencies in determining UK companies’ credit worthiness, according to Aon Trade Credit, the leading credit insurance broker.

Business would back proposed moratorium on legislation which imposes extra burden

Tue, 24 Feb 2009 10:09:40 +0100

Ministers have been asked to “advise” on the effects of planned legislation on business, according to some reports yesterday, with the aim of reducing the financial burden on companies during the economy’s downturn.

Government cap on guarantees 'restricting bank lending to small firms'

Tue, 24 Feb 2009 09:52:49 +0100

Amid revelations that small businesses hit by the recession still cannot access sufficient finance from the UK’s banks, the Forum of Private Business (FPB) has learned that the Government has imposed a ‘cap’ on its much-publicised Enterprise Finance Guarantee (EFG).

New online tax help for small businesses

Mon, 23 Feb 2009 23:38:38 +0100

A series of online, bite-sized video guides for new and small businesses has been launched today by HM Revenue & Customs (HMRC).

Banks refill the finance gap

Mon, 23 Feb 2009 23:24:18 +0100

Banks are supporting individuals and businesses British Bankers' Association Chief Executive Angela Knight said today. She said the major high street banks were currently providing around two-thirds of all new home loans and were stepping up to fill the lending gap created by overseas banks retrenching to their home markets.

Drinks companies 'named and shamed' for squeezing suppliers

Mon, 23 Feb 2009 17:53:27 +0100

The Forum of Private Business (FPB) is naming and shaming two leading alcoholic drinks companies for imposing changes to payment terms and conditions on their smaller suppliers.

Creditsafe Group appoints New Chief Operations Officer

Mon, 23 Feb 2009 11:57:30 +0100

Creditsafe Group, the business information experts, today announced the appointment of Matthew Debbage to the position of Chief Operations Officer (COO). Matthew will have responsibility for ensuring effective strategic and tactical operational management across the group’s operations in the UK, Ireland, Sweden, France and the Netherlands.

Government guaranteeing more than £1m loans a day

Fri, 20 Feb 2009 16:21:50 +0100

Business Secretary Lord Mandelson today highlighted the success of a Government loan guarantee scheme after more than £1m of loans a day was underwritten to companies during the first few weeks.

Buy to let lending fourth quarter 2008

Fri, 20 Feb 2009 13:50:38 +0100

New lending for buy-to-let continued to decline in the fourth quarter of 2008. There were 37,000 new loans, worth £3.9 billion - 12% down (19% by value) in the third quarter, and 56% down (65% by value) compared with the fourth quarter of 2007.

Operational note from Coface in the UK and ROI: Press Relations

Thu, 19 Feb 2009 17:05:38 +0100

In the UK and Ireland, Coface are now dealing direct with the press and not using a PR agency.

Review of regulatory guidance 'should have offered a lifeline rather than a helpline'

Tue, 17 Feb 2009 18:14:48 +0100

The FPB (Forum of Private Business) and ACCA (the Association of Chartered Certified Accountants) are disappointed by the recommendations of the review of regulatory guidance led by Sarah Anderson CBE.

Wool Clip Co-operative opens new store

Mon, 16 Feb 2009 16:49:35 +0100

A Cumbrian co-operative is bucking the economic trend with a move into larger retail premises. The Wool Clip is a Cumbria-based co-operative of sheep farmers, spinners, dyers, knitters, feltmakers, weavers and other wool workers set up in 2001 in the wake of the foot and mouth crisis to add value to local wool and to market members’ skills and products.

London SMEs suffer worst sales slump as the North East forges ahead

Mon, 16 Feb 2009 12:13:54 +0100

Small firms in London have been hit harder by the economic downturn than those in other regions of the country, triggering widespread job losses in the capital, according to a new report published today.

Cardinal Brands Ltd chooses Venture Finance

Mon, 16 Feb 2009 12:01:50 +0100

Premier independent Invoice and Asset Based Lender, Venture Finance, is pleased to announce the latest addition to its client portfolio, Cardinal Brands Limited one of the UK's leading manufacturers of carbonless stationary products.

December 08 small business figures for the high street banks - BBA

Mon, 16 Feb 2009 11:07:31 +0100

Average monthly growth in term lending to small businesses was higher in 2008 than in 2007. Last year also saw average monthly borrowing on overdrafts increase slightly and deposits fall, contrasting with 2007 movements.

Barclays augments small business support with free seminars

Mon, 16 Feb 2009 10:37:45 +0100

As part of its ongoing commitment to provide practical support to small businesses and help them through these uncertain times, Barclays today launches its ‘Let’s Talk’ seminar programme, focusing on setting-up, surviving and thriving in this climate.

Global confidence crisis pushes UK deeper into recession

Mon, 16 Feb 2009 09:45:32 +0100

The rapidly deteriorating global economy and the continued difficulties UK businesses are facing in accessing credit will push the economy deeper into recession in 2009, the CBI said today (Monday 16th February, 2009).

Business reports deteriorating relationship with bank managers

Mon, 16 Feb 2009 09:29:42 +0100

The results from over 400 businesses across the UK show deteriorating relationships with local bank managers, major disappointment with the Government’s VAT cut, and an increasingly pessimistic mood on turnover prospects.

£1billion cashflow boost to business

Thu, 12 Feb 2009 16:08:00 +0100

Over 60,000 businesses have agreed time to pay tax arrangements with HM Revenue & Customs (HMRC) totalling more than one billion pounds.

The future of Europe's financial services

Thu, 12 Feb 2009 09:11:52 +0100

The ABI (Association of British Insurers) has launched a three-stage plan to help restore confidence and trust in European financial services. A report outlining the ABI’s priorities for Europe, published today, also highlights key principles for a global recovery. The launch came as the ABI Board met in Brussels, and had discussions with senior European officials and MEPs.

Small businesses in the South West need protection as recession begins to bite

Wed, 11 Feb 2009 16:31:30 +0100

More than one in three small businesses in the South West of England are already experiencing the effects of recession, with a quarter seeing a decline in new business, according to PFA Research's South West Business Pulse Survey.

Delay new laws that could cost small businesses £800 million

Wed, 11 Feb 2009 16:25:14 +0100

The Government must delay passing new laws which could cost small businesses nearly £800 million a year, the Federation of Small Businesses (FSB) said.

CCTAs second Annual Golf Day

Wed, 11 Feb 2009 15:55:00 +0100

CCTA’s (Consumer Credit Trade Association) second Annual Golf Day will take place on Wednesday 6 May 2009 at the Marriott Forest of Arden Hotel in Warwickshire, on the championship Arden course.

Alternative finance is key for small firms in wake of recession

Tue, 10 Feb 2009 15:55:08 +0100

Following news from the Insolvency Service showing a 51 per cent rise in the number of firms going bankrupt in the last quarter of 2008, Bibby Financial Services, the UK’s leading independent invoice financier, is urging small and medium sized firms to consider all options before they face insolvency.

PIC Solutions Partners with True Integrated Marketing in Dubai

Tue, 10 Feb 2009 15:11:46 +0100

PIC Solutions, the leading credit risk solutions company in the EMEA region has signed a partnership agreement with True Integrated Marketing (TIM).

CBI calls for urgent government intervention

Mon, 09 Feb 2009 12:46:24 +0100

Without urgent intervention from the Government, the credit crunch hitting companies will get even worse over the next three months, according to new CBI research, published today (Monday).

FSB calls for more action to stimulate the economy

Mon, 09 Feb 2009 09:36:43 +0100

Government action to stimulate the economy is not working, the Federation of Small Businesses (FSB) warned today, after a member survey found that recent VAT cuts, bank lending guarantees and pledges on payment practices have had no impact.

Specialist financiers prove to be a lifeline for SMEs

Sun, 08 Feb 2009 19:46:52 +0100

More and more businesses are turning to alternative funding as a method of riding out the economic downturn, according to new figures from SME business funder, Cattles Invoice Finance (CIF).

Insolvency epidemic spreading rapidly into other sectors

Fri, 06 Feb 2009 19:51:06 +0100

Commenting on today’s insolvency statistics showing a 11.9% increase in company insolvencies on the previous quarter a 51.6% increase on the same quarter a year ago, Carl Jackson, head of Tenon Recovery, said:

Weak manufacturing data confirms need for forceful policy response

Fri, 06 Feb 2009 12:37:33 +0100

Commenting on the total production and manufacturing output figures for December, published today by the ONS, David Kern, Chief Economist at the British Chambers of Commerce (BCC), said:

Businesses take action for automatic rate relief

Fri, 06 Feb 2009 12:33:48 +0100

Businesses in England are calling for the tax relief they are eligible for to be made automatic – saving them £400 million in total each year.

Insolvencies to soar to 5,000 in 2009, predicts KPMG

Thu, 05 Feb 2009 12:52:38 +0100

KPMG Restructuring predicts that corporate insolvencies (administrations and receiverships) will rise dramatically in 2009 reaching 5,000 by the end of the year.

FPB welcomes new £3bn fund to boost lending to small businesses

Thu, 05 Feb 2009 12:37:55 +0100

The Forum of Private Business (FPB) is welcoming a £3 billion fund to boost lending to small businesses. Following the Government’s decision in January 2009 to restructure its investment in the Royal Bank of Scotland (RBS) and Natwest, the bank has announced the fund, which will be split into 12 regional tranches of £250 million each.

CBI urges government to retain much improved R&D tax credit

Thu, 05 Feb 2009 12:22:34 +0100

Research and development is critical for Britain’s future economic success, and the government must resist the temptation to allow the much improved and user-friendly R&D tax credit to wither on the vine, as it is particularly valuable during a recession, according to The Confederation of British Industry (CBI).

Evidence of credit 'starting to flow'

Wed, 04 Feb 2009 11:44:08 +0100

The bank of England’s Monetary Policy Committee meets tomorrow to decide whether they are going to cut interest rates, to revive the economy. However signs that credit has begun to flow have started to engage.

SMEs to benefit from debt rule change

Tue, 03 Feb 2009 16:59:28 +0100

A relaxation in Government regulations on how small firms can finance their bids for public sector contracts should provide a welcome boost to the economy, according to a leading banking lawyer.

Firstsource reports third quarter fiscal 2009 revenues

Tue, 03 Feb 2009 16:21:08 +0100

Firstsource Solutions Limited (NSE:FSL, BSE:532809), among India’s leading pure-play BPO companies reported its results for the quarter ended December 2008 according to Indian GAAP.

Experian protects Beaverbrooks website from fraud

Tue, 03 Feb 2009 11:38:35 +0100

UK jewellery retailer Beaverbrooks has selected Experian®, the global information services company, to put a stop to fraudulent transactions via its website.

BRC product standard cracks America

Tue, 03 Feb 2009 11:36:03 +0100

A British Retail Consortium (BRC) product standard is poised to crack America. A significant new partnership with North America's leading retail trade association is likely to lead to some of the world's biggest retailers requiring their consumer products suppliers to show they meet the BRC safety standard.

Woolworths to be relaunched as online retailer

Mon, 02 Feb 2009 16:17:16 +0100

Sir David and Sir Frederick Barclay have bought the Woolworths chain following its administration in November and will relaunch the former high street giant as an online retailer.

Early indications suggest banks are still not lending to small businesses

Fri, 30 Jan 2009 16:53:49 +0100

Despite a series of government measures designed to guarantee lending, members of the Forum of Private Business (FPB) are still not able to access finance from the banks.

Don't let small businesses chew over tax deadline

Fri, 30 Jan 2009 12:52:37 +0100

Small businesses which file their self-assessment tax forms in late during these testing times must be given a break by HM Revenues and Customs (HMRC), the Federation of Small Businesses (FSB) urged today.

Maggie Craig appointed ABI's first Director of Scottish Affairs

Fri, 30 Jan 2009 11:54:08 +0100

The ABI’s Maggie Craig has been appointed the ABI’s (Association of British Insurers) first Director of Scottish Affairs, to provide a specific focus on Scotland at the heart of ABI. Her appointment was announced on the day that the ABI hosts a reception in Edinburgh for Members of the Scottish Parliament, Scottish business groups and publishes ABI in Scotland.

Fraud Costs Rise, Challenging Online Businesses

Wed, 28 Jan 2009 16:29:51 +0100

Fraud is taking a bigger bite out of UK online revenues. One in eight businesses in 2008 suffered fraud losses in excess of 5% of total online revenues, while rates of more than 1% are now common.

Impose fewer regulations rather than replicating existing support

Wed, 28 Jan 2009 16:15:33 +0100

Following a review of regulations imposed on small businesses, the Government is considering creating a ‘one stop shop’ for advice on health and safety, and employment law, according to The Forum of Private Business(FPB).

Smartfundit.com and CHP Consulting unlock asset financing market

Wed, 28 Jan 2009 15:50:00 +0100

Smartfundit.com, the world's first business finance marketplace, and CHP Consulting, the leading supplier of software solutions and consultancy services to top asset finance organisations worldwide, today announced a strategic partnership to enable leading financial institutions to deliver fast and affordable asset financing to UK businesses.

Small businesses must have a say on 'how their taxes are spent'

Wed, 28 Jan 2009 13:07:49 +0100

The Federation of Small Businesses (FSB) has expressed concern that the incoming Business Rate Supplements Bill will impose extra tax burdens on businesses and has suggested a series of amendments to soften the blow of the legislation.

CBI response on loan guarantees to the car industry

Wed, 28 Jan 2009 12:39:08 +0100

Commenting on the announcement of loan guarantees to car makers, Richard Lambert, CBI Director-General said:

FPB responds to Treasury Committees review of Pre-Budget Report

Wed, 28 Jan 2009 00:01:01 +0100

The Forum of Private Business (FPB) is welcoming the Treasury Committee’s call for the Government to continually review its measures designed to increase bank lending to small businesses.

Mandelson announces support package for the Automotive Industry

Tue, 27 Jan 2009 00:00:00 +0100

The Government today announced a package of measures aimed at freeing up lending of more than £2bn for the automotive industry.

Factoring facility gets Wicked Imports back on track

Mon, 26 Jan 2009 16:41:23 +0100

Premier independent Invoice and Asset Based Lender, Venture Finance, has provided Wicked Imports Ltd, a wholesale distributor of gadgets, gifts and toys, with a Factoring facility providing the company with a cashflow boost and reassurance of Bad Debt Protection.

New business development manager to grow Intrum Justitia offer in new markets

Mon, 26 Jan 2009 12:32:14 +0100

Europe’s leading provider of credit management services says the appointment of their latest Business Development Manager will help boost its growth across new UK sectors.

Unemployment fears rise in small businesses as the country slides into recession

Fri, 23 Jan 2009 14:29:54 +0100

The Federation of Small Businesses (FSB) reported a dramatic rise in calls to its legal advice line on redundancies from concerned small businesses, on the same day as the official announcement that the UK is in recession.

Falling GDP highlights vital need to restore confidence

Fri, 23 Jan 2009 13:22:52 +0100

The economy shrank by 1.5 percent in the fourth quarter of 2008. Commenting on the preliminary GDP figures, David Kern, Chief Economist at the British Chambers of Commerce (BCC), said: “The worse than expected decline in GDP not only confirms that the UK economy is in a recession, but it also highlights the critical need to persevere with forceful corrective measures.

New rules provide confidence for cross-border trade

Thu, 22 Jan 2009 18:35:43 +0100

The government has announced that it will implement a European Commission regulation that will provide confidence for cross-border trade. Choice of law in contract affects all UK businesses entering into contracts with companies or consumers overseas, as well as UK consumers buying goods or services from abroad.

Small businesses to converge on Newport for major conference

Thu, 22 Jan 2009 18:23:43 +0100

Small businesses will be gathering against the backdrop of recession in South Wales later this year, at the Federation of Small Businesses (FSB) Annual Conference 2009.

Aon Consulting appoints client development director for admin outsourcing

Thu, 22 Jan 2009 18:05:12 +0100

Leading pension, benefits and HR consulting firm, Aon Consulting has appointed Ros Flavell as client development director for its pensions administration team to build upon continued success through 2008 and anticipated growth in 2009.

eg clients reach the FST awards finals with eg s/ware suite

Thu, 22 Jan 2009 17:20:10 +0100

eg solutions plc (eg), the AIM listed operations management software company, today announced that two of its key clients have been short-listed by the prestigious Financial Sector Technology (FST) Awards.

Interim forecasts for 2009-2010 in the European Union

Tue, 20 Jan 2009 13:25:49 +0100

The slowdown will sharpen but growth will come back before the end of 2009. GDP growth in the European Union is expected to fall by 1.8 % in 2009 before recovering moderately to 0.5% in 2010.

MPC must move forcefully to 'avoid distinct risk of deflation'

Tue, 20 Jan 2009 13:15:11 +0100

David Kern, Chief Economist at the British Chambers of Commerce (BCC), has commented on the December 2008 inflation figures published today by the ONS.

More severe penalties for health and safety breaches

Tue, 20 Jan 2009 13:06:42 +0100

The Forum of Private Business (FPB) is warning the owners of small businesses to put in place stringent health and safety procedures, following a legal change imposing more severe punishments for health and safety breaches that could leave them facing up to two years in prison or a large fine.

Tieto will release new version of TIPS in February 2009

Tue, 20 Jan 2009 12:50:57 +0100

Tieto Integrated Paper Solution (TIPS) 13.0 will advance usability, data analysis, efficiency and profitability. The new version will offer functional enhancements, which have been developed based on customer research and feedback.

SIFMA and ESF Welcome HM Treasurys Financial Intervention Package

Mon, 19 Jan 2009 17:08:23 +0100

The Securities Industry and Financial Markets Association (SIFMA), together with its affiliate the European Securitisation Forum (ESF), today welcomed HM Treasury’s announcement of a package of initiatives designed to reinforce the stability of the financial system.

Concerns over job application fraud prompts increase in staff checks

Mon, 19 Jan 2009 14:35:52 +0100

Experian®, the global information services company, today revealed that demand for its specialist candidate verification service, Experian Background Checking, has surged by 70 per cent in the past six months as concerns over fraudulent job applications soar.

BGL Group moves to support local small business

Fri, 16 Jan 2009 16:29:43 +0100

As part of its commitment to the communities in which it operates, the BGL Group has pledged to support the small businesses it works with in view of the current economic climate.

Lift employment burdens on small businesses, says business lobby group

Fri, 16 Jan 2009 13:16:14 +0100

With evidence mounting that business-owners are being forced to make further redundancies because of the economic downturn, the Forum of Private Business (FPB) is urging the Government to remove the barriers that could prevent job growth when the economy begins to improve.

20,000 businesses helped with time to pay

Fri, 16 Jan 2009 12:55:24 +0100

Over 20,000 businesses have delayed paying more than £350 million of tax after contacting HMRC's Business Payment Support Service (BPSS) in the last six weeks.

FSB and MP unite to make small business rate relief payments automatic

Fri, 16 Jan 2009 12:49:58 +0100

The Federation of Small Businesses (FSB) is working with a leading MP to pioneer a Private Members' Bill (PMB) which would see business rate relief granted automatically for small businesses - a vital boost during the economic downturn.

Banks welcome business announcement - BBA

Fri, 16 Jan 2009 12:28:01 +0100

Moves to bring confidence and stability to businesses have been welcomed by the UK’s banks and financial services. The British Bankers’ Association (BBA) said proposals to guarantee business lending would help provide more finance for small and medium sized enterprises who are being hit by the recession.

CCTA Delivers Real Value for Money

Thu, 15 Jan 2009 16:10:11 +0100

Membership of a group brings a greater strength to the whole than the sum of its individual parts. This is certainly true at CCTA where competitors work together for mutual benefit and CCTA supports its Members through a minefield of challenges, never more daunting than as 2009 unfolds.

Don't forget the alternative financial providers

Wed, 14 Jan 2009 15:33:17 +0100

News of a £10bn government-backed Working Capital Scheme for small businesses comes just in time for many companies, and almost two months after plans to help UK companies were laid out by Alistair Darling.

FLA asks government to ensure that non-bank lenders have access to funding too

Wed, 14 Jan 2009 15:25:01 +0100

Responding to today’s announcement of further government help for business funding, Stephen Sklaroff, Director General of the Finance and Leasing Association, said:

Governments small business finance plans a welcome next step

Wed, 14 Jan 2009 15:14:26 +0100

The Forum of Private (FPB) is calling on the banks to increase lending to business customers without delay, following the Government’s announcement of a scheme to free up funding for small firms.

Banks have run out of excuses as Government announces £1bn fund for small firms

Wed, 14 Jan 2009 15:00:57 +0100

The Federation of Small Businesses, (FSB), today welcomed a new £1.3 billion fund for small firms – much needed support for small firms that the FSB has been campaigning for since October.

Business Secretary unveils new package for SMEs

Wed, 14 Jan 2009 14:43:09 +0100

Business Secretary Lord Mandelson today unveiled a package of measures designed to address the cash flow, credit and investment needs of small and medium businesses.

Business Failures Reach Staggering Heights

Tue, 13 Jan 2009 17:53:03 +0100

Leading business information provider, Equifax, has released its Business Failures Report for the whole of 2008 as well as for the last quarter of the year. And the figures reinforce the British Chamber of Commerce report released earlier today – that the downturn has taken real hold in the UK economy with little sign of any uplift so far.

SMEs - Make a New Years Resolution to Push Traditional Boundaries

Tue, 13 Jan 2009 14:53:47 +0100

Credit control is one of the most challenging business tasks facing small to medium-sized enterprises (SMEs) today, according to more than half of the SMEs that participated in a recent survey carried out by Hilton-Baird Financial Solutions on behalf of the Asset Based Finance Association (ABFA).

Economic survey results are worst on record

Tue, 13 Jan 2009 13:47:08 +0100

The British Chambers of Commerce (BCC) is today publishing its Fourth Quarter Economic Survey. Nearly 6,000 businesses, employing over 680,000 people, responded.

AP Driveline Technologies Limited in administration

Tue, 13 Jan 2009 11:46:41 +0100

David Bennett, Colin Haig and Matthew Hammond of PricewaterhouseCoopers LLP were appointed joint administrators of AP Driveline Technologies Limited on 12 January 2009.

UK Trade Deficit widened to £4.5 billion in November

Tue, 13 Jan 2009 11:37:43 +0100

The UK's deficit on trade in goods and services was £4.5 billion in November, compared with the deficit of £3.9 billion in October (the same as originally published).

Beleaguered retailers face £7 billion property cost battering

Mon, 12 Jan 2009 23:55:21 +0100

Government proposals could push the beleaguered retail sector's business rates bill up to £7 billion by 2010/11. Government proposals could push the beleaguered retail sector's business rates bill up to £7 billion by 2010/11.

MEGA has been named by Forrester Research as a leader

Mon, 12 Jan 2009 18:54:39 +0100

MEGA, the company that provides leading enterprise architecture (EA) and business process analysis (BPA) solutions, has been named by Forrester Research as a leader in its January 2009 report, 'The Forrester Wave': Business Process Analysis, Enterprise Architecture (EA) Tools, and IT Planning, Q1 2009.

Profit warnings by UK-listed firms hit seven-year high

Mon, 12 Jan 2009 13:02:25 +0100

Profit warnings by UK-listed firms hit a seven-year high in 2008, according to a survey published on Sunday. Ernst & Young said profit warnings last year totalled 449, the highest yearly figure since 2001 and 17 percent higher than 2007.

FSB launches Five Point Plan to create 400,000 new jobs

Mon, 12 Jan 2009 12:52:07 +0100

The Federation of Small Businesses (FSB) today launched its blueprint for tackling rising unemployment with a plan to create 400,000 new jobs.

Manufacturing slumps at fastest pace since 1981

Fri, 09 Jan 2009 14:45:44 +0100

Factory output slumped in November at its fastest annual pace since 1981, increasing the likelihood that the economy shrank sharply at the end of 2008 and faces a deep recession in 2009.

More bankruptcies predicted in auto industry

Thu, 08 Jan 2009 22:25:19 +0100

KPMG’s 2009 survey of the global automotive industry says that senior executives expect more companies will go out of business – as revenues and profits continue to fall. Optimism reported a year ago has now been deferred, if not abandoned. In established markets, sales expectations continue to fall, investments are being reviewed and some very large auto companies are close to insolvency.

FSB responds to interest rate cut

Thu, 08 Jan 2009 22:02:49 +0100

The Federation of Small Businesses (FSB) has today welcomed the Bank of England's Monetary Policy Committee's latest interest rate cut but has warned that the real worry is not just the cost of finance but access to it.

More pressure on banks to lend to small businesses

Thu, 08 Jan 2009 14:59:21 +0100

A third of small businesses surveyed in the Forum of Private Business’s (FPB’s) latest Referendum poll of members actively sought finance during the last quarter of 2008. However, despite the Government’s high-profile bail-out and pressure on banks from the FPB, almost half were either partially or completely rejected by UK lenders.

Business lobby group appoint new national chairman

Tue, 06 Jan 2009 18:00:53 +0100

The FPB has appointed Noel Guilford as its new National Chairman. Noel, who has been a non-executive board member of the FPB since 2003, is the managing partner of Chester-based Guilford Consulting, and has more than 30 years' experience as a chartered accountant and management consultant. He has been acting Chairman since June 2008, but now takes on the role full time.

Sharp rise in liquidations shows impact of recession on Irish business

Tue, 06 Jan 2009 16:04:23 +0100

The impact of the economic downturn and the squeeze on credit has been put into stark relief by figures published today by Experian®, the global information services company. The figures from Experian show that company liquidations in Ireland over the past year have more than doubled since 2007.

Allianz Commercial launches online legal solution

Tue, 06 Jan 2009 15:09:54 +0100

Allianz Commercial has launched a new online legal protection service available to all Allianz SME policyholders. Allianz Legal Online can provide over 100 legal documents that businesses require supporting the needs of employees, complying with legislation and assisting Companies in doing business.

CBI comments on BoE's latest Credit Conditions Survey

Mon, 05 Jan 2009 12:22:58 +0100

Richard Lambert, CBI Director-General, has commented on the Bank of England’s latest Credit Conditions Survey and the need for measures to restore credit flows across the economy, including the car industry.

US Treasury unveils rescue package for car manufacturer

Tue, 30 Dec 2008 15:45:17 +0100

The US Treasury has unveiled a $6bn (£4.1bn) rescue package for GMAC -General Motors' troubled car loan arm, co-owned by Chrysler's owner, Cerberus in a move to encourage them to offer funding to would-be vehicle buyers.

Experian suggests small business resolutions for 2009

Tue, 30 Dec 2008 15:31:03 +0100

With market conditions impacting on all sizes of organisation in virtually every sector of the economy, Experian®, the global information services provider, has outlined a series of New Year¹s resolutions for small businesses, providing those organisations most exposed to late payment and potential cash flow problems with advice to help them through the downturn.

UK Manufacturing business failures set to rocket by 37 per cent

Tue, 30 Dec 2008 15:18:46 +0100

The number of UK manufacturing failures is predicted to increase by 37 per cent by the end of 2008 in comparison to 2007, according to research from accountants and business advisors, BDO Stoy Hayward LLP.

GDP contracts by 0.6% in 3rd quarter

Wed, 24 Dec 2008 08:12:38 +0100

Figures released by the Office of National Statistics (ONS) show that Gross Domestic Product (GDP) contracted by 0.6 per cent in the third quarter of 2008, revised down from the previous estimate of 0.5 per cent and down from 0.0 per cent in the second quarter of 2008. The level of GDP in the third quarter of 2008 is now 0.3 per cent higher than the third quarter of 2007.

Make a new year's resolution to secure your confidential waste

Tue, 23 Dec 2008 16:18:06 +0100

As staff wind down for the festive season, and attention turns finally to that long overdue office clear out, Smurfit Kappa Security Shredding is warning businesses and organisations to recycle responsibly to ensure that confidential files and documents do not fall into the wrong hands.

Credit still not flowing around the economy says CBI

Mon, 22 Dec 2008 17:45:50 +0100

Healthy companies will struggle to survive unless Government takes urgent action to deal with the intensifying credit crunch, according to Richard Lambert, Director-General of the CBI.

TietoEnator's transformation continues - announcing the new Tieto brand

Tue, 16 Dec 2008 16:16:32 +0100

TietoEnator, a leading IT services company in Northern Europe, launched a new corporate brand Tieto on 1 December 2008. The new Tieto brand and logo will now start to be visible in all Tieto offices around the world. The official registered name of the company, TietoEnator Corporation, will remain unchanged for the time being as the change of the registered company name is subject to a decision by the Annual General Meeting.

Rural firms are suffering in silence this Christmas

Mon, 15 Dec 2008 18:30:45 +0100

The Federation of Small Businesses (FSB) is today expressing concern that rural businesses are becoming the silent victims of the credit crunch this Christmas. Most rural businesses have seen trade fall this year with four out of five saying the Government isn''t helping them out of the downturn.

Government scheme to encourage prompt payment unlikely to succeed

Thu, 11 Dec 2008 15:22:16 +0100

The Governments launch of a voluntary code on payment terms to encourage the prompt payment of bills between businesses as firms across the UK battle to survive the downturn is unlikely to spark a genuine move away from late payment culture in the UK, warns commercial credit agency Graydon UK.

Parking restrictions 'hitting crucial Christmas trade'

Tue, 09 Dec 2008 17:09:48 +0100

The Forum of Private Business (FPB) is concerned that steep car parking charges and limited waiting times are keeping Christmas shoppers away from the UKs high streets. The FPB is calling on local authorities to relax parking restrictions in order to boost trade for struggling retailers during the key Christmas period.

Economic uncertainty hits businesses hard

Mon, 08 Dec 2008 18:13:58 +0100

Leading business information provider, Equifax, has released an interim report on business failures for October/November which shows that, perhaps not surprisingly, there have been year on year increases across all sectors and all regions of the UK.

Government hears concerns of small businesses at second finance meeting

Mon, 08 Dec 2008 18:08:22 +0100

Representatives from the UKs banks and business groups met government officials today (8 December 2008) to discuss the impact of the economic downturn on small businesses. At the meeting of the Small Business Finance Forum, the Forum of Private Business (FPB) presented the latest findings of its economic downturn panel of member-firms, whose owners are being surveyed every fortnight to present a true picture of market conditions and lending restrictions for small firms.

HSBC delivers new $5 billion fund supporting businesses globally

Mon, 08 Dec 2008 17:57:36 +0100

HSBC has created a new $5 billion global working capital fund for small and medium-sized businesses (SMEs) to ensure that they continue to have access to appropriate credit through the current financial and economic crisis.

Natwest and RBS provide further reassurance to its small business customers

Mon, 08 Dec 2008 17:53:16 +0100

NatWest and RBS have announced the introduction of a raft of further practical initiatives to give small businesses added peace of mind while trading through the current economic downturn. These moves come hot on the heels of the Bank's recent announcement to guarantee small business customers' overdraft agreements and pricing until at least the end of 2009.

New head of sales for software application vendor

Mon, 08 Dec 2008 17:26:05 +0100

eg solutions plc, the business software application vendor, announces the strengthening of its sales team with the appointment of Mr. Robert Maxfield as Head of Sales.

FSB to confront bank's Scrooge-like tactics at finance forum

Mon, 08 Dec 2008 01:00:00 +0100

Around a third of small businesses are still struggling to get affordable credit from the banks despite commitments to lend fairly, according to new figures from the Federation of Small Businesses (FSB).

Banking code to become legally binding

Fri, 05 Dec 2008 17:13:08 +0100

The British Bankers' Association (BBA) said that bringing the Banking Code more firmly into statutory regulation is now appropriate and that it has no problems with this approach.

New director for LCL Collections Limited

Fri, 05 Dec 2008 16:23:10 +0100

Andrew Langton has been appointed a director of LCL Collections Limited, the Yorkshire based National B2B debt collection business. Managing Director Gerry Barron said: "Andrew has been an integral part of the growth of the business and has worked hard to develop our brand across a crucial part of the client base and we are pleased that his hard work is reflected in his appointment to the Board

Banks urged to pass on interest rate cut to small businesses

Thu, 04 Dec 2008 18:16:25 +0100

The Forum of Private Business (FPB) is welcoming the Bank of Englands decision to slash interest rates to 2% the lowest level since 1951 but warning that struggling small businesses will only benefit if the banks follow suit.

UK Business failures set to rocket by 50%

Thu, 04 Dec 2008 18:09:55 +0100

The number of UK business failures is predicted to increase by almost 50% in 2009, from 2008, according to the latest report by accountants and business advisors, BDO Stoy Hayward LLP.

Paperwork cuts save time and money

Thu, 04 Dec 2008 17:42:29 +0100

Businesses are saving an estimated £418m a year from the costs of dealing with employment law, new research has found. According to the Department for Business, Enterprise and Regulatory Reform (National) (BERR), free advice and simple online tools have helped firms cut the time and money they spend on compliance.

Amlin closes for new business

Thu, 04 Dec 2008 17:37:46 +0100

The troubled credit insurance sector has suffered a further blow with the complete withdrawal from the market by Amlin. The insurance group has decided not to write any new policies for businesses supplying goods to other businesses on credit, partially because of problems securing reinsurance.

French govt steps in to offer credit insurance

Thu, 04 Dec 2008 17:34:54 +0100

The French government is set to provide insurance to companies who offer credit to the businesses they trade with. As the threat of insolvency increases with the slowdown, insurers are less willing to provide credit insurance. Without this insurance against not being paid, many suppliers are unwilling to offer credit to customers, forcing them to pay cash.

Woolworths closure hits Euler revenues

Thu, 04 Dec 2008 17:28:11 +0100

Following the bankruptcy of Woolworths Group (UK) and higher than expected claims development in the fourth quarter, Euler Hermes has revised its 2008 results to 100 million. The Woolworths Group had to file for bankruptcy after unsuccessful negotiations with the banks last week.

FPB launches franchising awareness campaign

Wed, 03 Dec 2008 16:35:53 +0100

An organisation which represents the interests of thousands of small businesses in the UK has launched a campaign to raise awareness of franchising to its members. The Forum of Private Business (FPB), which has its headquarters in Knutsford, Cheshire, believes that franchising could be a solution for some firms that are still in a position to expand but are struggling to raise the finance from banks at the moment.

Government legislation on additional business rates criticised

Wed, 03 Dec 2008 15:45:58 +0100

A proposed law allowing local authorities to impose additional rates on small businesses is being criticised by the Forum of Private Business (FPB). The Business Rate Supplements Bill was not mentioned in the Queens Speech, but has been announced as part of 2009s legislative programme. The FPB believes that small firms already pay too much in tax, and is opposing plans to levy supplementary business rates (SBR) from 2010.

Banks' lending risk to small business 'overstated'

Tue, 02 Dec 2008 18:48:09 +0100

The Forum of Private Business (FPB), which represents 25,000 small and medium-sized businesses across the UK, believes that the banking sector should be put under more pressure based upon what its own industry figures reveal.

VAT cut could prove 'costly for smaller retailers'

Fri, 28 Nov 2008 15:33:53 +0100

The Governments 2.5% reduction in VAT has come under fire from smaller retailers, who believe that the cost of administering the change will vastly overshadow the benefits of the reduction. The FPB is warning that the tax cut designed to boost high street trade could backfire because it is unlikely to convince many retailers to slash their prices.

GDP figures 'support need for full one per cent rate cut'

Fri, 28 Nov 2008 15:24:20 +0100

The Office for National Statistics (ONS) has published revised GDP figures for quarter three 2008 suggesting that 'the UK economy is now in serious recession'. Construction and distribution appear to be the main sectors driving the downturn.

British businesses facing debt barrier

Fri, 28 Nov 2008 15:09:41 +0100

Creditsafe, the business information experts, have published new research identifying the credit curve, which highlights that the cost of servicing debt trebles for businesses expanding from a turnover of £250,001-£500,000 to £500,001-£1,000,000.

ICM appoints new head of recruitment

Thu, 27 Nov 2008 18:42:23 +0100

The Institute of Credit Management (ICM) has promoted Lindsey Burke to Head of its recruitment service The Recruitment Consultancy - following Ann Stutzs retirement.

Credit Management Training appoint new director

Thu, 27 Nov 2008 18:40:54 +0100

James Jenkins MICM (Grad) FACP (Grad) has been appointed as director of training at Credit Management Training Ltd.

Britain's businesses need survival plan to cope with problem of late payments

Thu, 27 Nov 2008 18:38:48 +0100

British businesses are increasingly being hit by the late payment of bills by customers, new research reveals. On average, invoices are paid after 55.5 days across the European Union as a whole with Portugal, Spain and Italy taking a staggering 91 days to meet their bills.

Temporary measures announced in Pre-Budget report 'do not go far enough'

Thu, 27 Nov 2008 18:36:33 +0100

Following the Governments Pre-Budget report announcement, the Forum of Private Business (FPB) believes that measures to help more small firms access finance in the short term could be offset by its failure to deliver much-needed tax reforms, including a reduction in small firms corporation tax.

UK PLC payment delays hits small business

Thu, 27 Nov 2008 18:18:21 +0100

As the credit crunch begins to squeeze British business, UK PLC is delaying payment of debts well past 90 days according to research by Leeds University Business School¹s Credit Management Research Centre (CMRC).

Commission to overlook SME lending

Thu, 27 Nov 2008 18:06:19 +0100

Business secretary Peter Mandelson has announced the creation of a new panel to monitor how banks are lending to small businesses.

Late payments top problem poll

Thu, 27 Nov 2008 18:05:28 +0100

Despite the attention being placed on how much money banks are lending to small businesses, a poll by UK Business Forums has revealed it is tackling late payment which entrepreneurs think the government should make their top priority.

Accountants are preferred source of financial advice for SMEs

Thu, 27 Nov 2008 18:01:23 +0100

New research just released, has revealed that, in the UK, small firms trust their accountants more than their bank managers when it comes to seeking financial advice.

Banks promise to help business through bad times

Thu, 27 Nov 2008 17:58:46 +0100

The UK's leading banks are committed to helping Britain's businesses to weather the economic downturn, according to the British Bankers Association (BBA).

Sales Monitor shows worst sales figures for three years

Thu, 27 Nov 2008 17:57:14 +0100

UK retail sales values fell 2.2% on a like-for-like basis, from October 2007, when they had risen 1.0%, according to the latest BRC-KPMG Retail sales Monitor.

Call to extend VAT relief scheme to ease payment pain for struggling firms

Thu, 27 Nov 2008 17:54:44 +0100

A business lobby group has said that more businesses in the UK should be eligible to join the Cash Accounting Scheme (CAS) and defer paying VAT until they are paid themselves.

Late payments top problem poll

Fri, 14 Nov 2008 01:00:00 +0100

Commission to overlook SME lending

Fri, 14 Nov 2008 01:00:00 +0100

Business secretary Peter Mandelson has announced the creation of a new panel to monitor how banks are lending to small businesses.

Call to extend VAT relief scheme to ease payment pain for struggling firms