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Asset-based finance has risen by 13 per cent over last year, reaching a total of £22.2 billion. This is an all-time high in Britain and the UK is consistently boasting the biggest uptake of pure invoice finance in the world. The research was compiled by the trade body, Asset Based Finance Association (ABFA),…
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The UK’s central bank is gathering the brightest minds in fintech to help it keep up-to-date with developments in the fast-growing sector. The initiative has been launched by the central bank’s fintech accelerator, which works with financial services firms to develop new tools for use by businesses in the City. The cohorts will…
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The alternative finance industry has struggled to build awareness, understanding, and trust about its platforms and products among SMEs. Countless industry reports highlight the lack of information about peer-to-peer finance (P2P) among UK business owners. However, a move earlier this week from The National Association of Commercial Finance Brokers (NACFB), might give the…
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London’s population of ultra-high-net-worth individuals (UHNWI) is expected to grow by 30 per cent in the next few years and over a fifth of these individuals are looking for high-growth innovative investment opportunities. Over the next decade, London will remain a front runner for UHNWIs who consider it to be the centre for…
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The latest statistics from the Bank of England reveal that lending to Britain’s 5.5 million private sector businesses by the largest UK banks fell by £536 million from December to January. According to AltFi, this is by far the biggest retrenchment in SME lending in the past two years, and which is as…
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Awareness of alternative finance, which includes peer-to-peer (P2P) finance products, among SMEs, is at its lowest in the Midlands and the north of England, the British Business Bank (BBB) has revealed. The BBB said that fewer than 40 per cent of firms in the Midlands were aware of P2P lending, compared with almost 60…
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Rising inflation could add £6.8bn to small and medium-sized enterprises (SME) operating costs in 2017, according to a new report this week from insurance giant RSA Group. The research shows 2017 is likely to be a tough year for SMEs, with stagnant revenues meaning increased costs will eat into profit margins and thus…
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The Bank of England’s economic forecasting ability is in the spotlight again as several officials, including the governor Mark Carney and the Bank’s chief economist, Andy Haldane, have this week been grilled by The Treasury Select Committee. The questioning follows the Bank’s inflation revisions earlier this month and further industry criticism about its ability to get basic…
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In a speech to MBA students at the Cambridge Judge Business School, the chairman of the Financial Conduct Authority (FCA) John Griffith-Jones, said that “Technological advances pose a challenge for regulators,” and he added, “rules that were designed for the paperwork era do not work for the online one.” This problem is not…
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57 per cent of the UK’s small and medium-sized enterprises (SMEs) struggle to obtain finance. This is according to research commissioned by financial services firm American Express. The study also reports that more companies than ever are turning to non-bank sources such as crowdsourcing and alternative lenders to gain access to growth capital. The research,…
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