Posts Tagged: SME finance

50,000 SMEs fold waiting for supplier payments

The UK’s poor supply chain practices put SMEs out of business says a new report from the FSB. The report, ‘Time to Act: The economic impact of poor payment practice, says British SMEs are owed a massive £67.4 billion in unpaid invoices and these late payment practices force an estimated 50,000 firms out of business each year.…

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Building the UK from the bottom up – SME’s are a vital part of economic growth

This week the Government launched its new green paper, Building our Industrial Strategy, setting out its long-term vision and growth plans for the United Kingdom. The consultation paper recognises the importance of the SME’s contribution to the economy and it proposes some policies to help this sector. The biggest challenge for government is addressing the…

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Challenger Banks Are Reinventing the Banking Landscape

Challenger banks are breaking the hold that the big five banks (HSBC, Barclays, Lloyds Banking Group, Royal Bank of Scotland and Santander) have over the industry.  Not only are they changing the banking landscape but they are redefining the way we manage our finances with innovative products and fully digitalized services. Last summer KPMG issued…

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Growing Appetite for Equity Finance Amongst UK SMEs

Pound coin stacks – Growing Appetite for Equity Finance Amongst UK SMEs

A new report from Albion Ventures has found that UK SMEs are becoming increasingly attracted to long-term equity finance. In 2013, just 12% of small and medium-sized businesses in the country were willing to give up equity in exchange for financial support. But, according to the latest figures, that figure has now grown to 44%,…

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Asset Based Lending Reaches Record High in UK

pound coins – Asset Based Lending Reaches Record High in UK

Figures released by the Asset Based Finance Association (ABFA) reveal that the amount of finance made available to UK businesses through asset based lending leapt to a record high of £4.3 billion in Q3, up 22% over the same period last year. Asset based lending allows businesses to borrow against assets – including property, intellectual…

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Late Payments Culture Posing Serious Threat to UK SMEs

PAID – Late Payments Culture Posing Serious Threat to UK SMEs

The UK’s late payments culture is posing a serious threat to the survival of small and medium-sized enterprises (SMEs). Over one third (34%) of SME owners have highlighted late paying clients as a major difficulty, according to research from Close Brothers Invoice Finance. Of these, 65% said that the main area of concern was with…

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