Industry News

High Growth Small Businesses Creating 4,500 Jobs A Week

HGSBs (High Growth Small Businesses) have created 1 in 4 jobs in the UK in the last year, giving a huge boost to the recovering economy. According to the High Growth Small Business Report 2015, despite making up only 1% of UK companies, HGSBs are generating 4,500 new jobs every week, which is three times…

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The Route – Finance Set To Lend £25 Million In 2015

The Route – Finance has signed terms on a total of five new projects, which are all expected to complete their due diligence review in November. The projects in question range from £420,000 to £3.5 million in size, and together bring the combined funding requirement of the five loans to in excess of £9.5 million.…

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SIPP Complaints On The Rise

SIPP (self-invested personal pension) complaints are up by one third in the second quarter of 2015/16 compared to the same period last year, according to the Financial Ombudsman Service. Many in the industry are now calling on advisers to carry out more stringent suitability checks and due diligence. Complaints increased from 210 to 281 over…

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£5 Million A Day Cut From SME Overdrafts

SMEs are losing their overdrafts from banks at a devastating rate as Britain’s cash-flow crisis continues. According to a survey of 250 business owners, a total of 30% of UK SMEs have reported imposed reductions to their overdrafts over the last two years, with 17% having lost them altogether. Separate Bank Of England data reveals…

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13% Of SMEs Use Personal Credit Facilities For Funding

Despite the unprecedented rise in popularity – especially over the last 12 months – the alternative finance sector, it seems, is still suffering profile problems, as a significant proportion of the UK business population remains unaware of the various AltFi funding options available to them. To put it another way, there are still far too…

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AltFi Boom Could Cause Interest Rates To Rise… One Day

For some, the recent growth in alternative business lending is a sure sign that the UK is finally making a financial recovery. Ian McCafferty, a member of the Bank of England’s Monetary Policy Committee (MPC), has commented in The Telegraph that the tight credit conditions suffered by businesses since the financial crisis have now started…

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Is The British Business Bank Behind The AltFi Boom?

Keith Morgan, chief executive of the government-owned and run British Business Bank (BBB), has made a proud claim that his organisation is behind the recent boom in the alternative finance sector. Undoubtedly, the AltFi industry has enjoyed a surge in popularity over the past 12-18 months. In 2014, the amount the sector had lent to…

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