Posts Tagged ‘Bibby Financial Services’

Start Up Loan Hotspots, Interest Rate Comparison Tool and Rising Costs – BFB Epsd 155

Posted on: February 10th, 2017 by blsuser1 No Comments Tags: , , , , , , , , , , , , , , , , , , , ,
Posted in Business Finance Bulletin

Getting finance for a start up business has always been tough but with the Start Up Loans Company, the pain has been eased. In this Bulletin, looking back on the loans they made in 2016, which UK start up hotspot cities have taken advantage of the loans available?

Different methods of calculating interest rates can make comparing finance options a challenge. We take a look at a new online tool from short term lender Fleximize, which can help you compare finance offers on a like-for-like basis.

The latest SME Confidence Tracker survey from Bibby Financial Services reveals the top three challenges facing UK manufacturers. The top slot is taken by concern about rising prices but other constraints are also weighing heavy on the minds of UK SMEs.

If you would prefer to listen to the podcast version you can click below or download to listen to later via our Soundcloud, Stitcher or itunes channel.

Encouragement to Borrow, Alternative Finance Awareness and Bad Debt Write-Offs – BFB Epsd 131

Posted on: August 5th, 2016 by blsuser1 No Comments Tags: , , , , , , , , , , , , , , , , , ,
Posted in Business Finance Bulletin

With news that the Bank of England has reduced its Base Rate and an announce of a new scheme to get banks lending and businesses borrowing, in this edition of the Business Finance Bulletin we look at whether these will have the desired impact.

We take a look at the findings from a survey carried out by the British Chamber of Commerce and Bibby Financial Services which reveals low awareness levels of the sources of alternative finance amongst UK SMEs.

Have you been faced with writing off a debt owed to you following being hit by a late payment of an invoice? The latest Bibby’s SME Confidence Index suggests that too many businesses are writing off debts and the average sum involved is not small.

If you would prefer to listen to the podcast version you can click below or download to listen to later via our Soundcloud, Stitcher or itunes channel.

Awareness Levels of Alternative Sources of Finance is Still Low

Posted on: July 28th, 2016 by blsuser1 No Comments Tags: , , , , , , , , , , ,
Posted in Business Finance News

In our dealings with growing businesses on the search for finance it’s always surprising how many still believe that outside the traditional High Street banks there are few alternative options to consider.

When we mention crowdfunding, short term loans, merchant cash advances and other alternative sources of finance, there is typically a vague acknowledgement that they have heard of such sources but nothing beyond that.

This lack of appreciation that there are sources of finance to tap into outside of the banks has been highlighted in a recent survey carried out by the British Chambers of Commerce and Bibby Financial Services.

The survey of more than 1,000 businesses provides an interesting insight into awareness levels of the primary sources of finance. Perhaps not surprisingly, awareness of overdraft facilities came out top at 93%, even though banks are not as keen in extending overdrafts as they once were!

Next on the familiarity chart are bank loans and commercial credit cards with awareness levels of 88% and 86% respectively. The growth seen in the usage of leasing and HP since the credit crunch is reflected in an 86% awareness levels amongst UK SMEs.

What sources of finance are languishing near the bottom of the pile though?

Trade finance facilities were known by 46% of businesses, peer-to-peer funding by 42% and angel funding by 39% of those surveyed. Propping up the sources of finance list standing at 19% awareness levels is mezzanine finance (a hybrid of debt and equity). No surprise there perhaps!

Despite what you may think there are a plethora of options available but the key problem is that you simply don’t have the time to search the market for the best options.

In fact, one of our clients this week said that they prefer to use us to source finance because we immediately know where to go thereby saving them time. That where commercial finance experts come in.

One other interesting finding from the survey was that of those firms which were successful in securing finance but ultimately rejected the offers, 54% did so because the interest rate offered was too high.

The main question though is ‘too high compared to what?’

Alternative finance is by its nature typically more costly than traditional High Street lenders due to the higher level of risk and the lower standard of security they are prepared to consider. For the alternative finance industry, the next step after raising awareness levels amongst business owners, is to resolve the pricing perception.

Our advice to clients is as long as the finance available to you allows you to achieve what you want to do, benchmark it in the market to check it’s not too wide of the mark, then look beyond the price and get on with building your business.

Atom Bank, Lloyds SME Charter, Business Confidence & Overtrading – BFB Epsd 117

Posted on: April 17th, 2016 by blsuser1 No Comments Tags: , , , , , , , , , , , , , , , , , , , ,
Posted in Business Finance Bulletin

In this episode of the Business Finance Bulletin a look at Atom Bank, a new online-only bank which has announced that it is now targeting small businesses following approval of its SME lending service.

Back to the traditional High Street banks, Lloyds Bank has announced the launch of it 2016 SME Charter. Their pledges include support for new businesses wishing to start exporting and targets in terms of lending to small businesses.

Recent Bulletins have featured surveys reporting that small business confidence is on the wane but in this Bulletin we share positive findings from the latest Bibby Financial Services SME Confidence Tracker, which counter previous negativity.

In the Business Finance Tip of the Week, we look at what overtrading is and how you can tackle it.

If you would prefer to listen to the podcast version you can click below or download to listen to later via our Soundcloud, Stitcher or itunes channel.

Business Finance Bulletin Epsd 105: Business Confidence, Fuel Cards, and Late Payment

Posted on: January 22nd, 2016 by blsuser1 No Comments Tags: , , , , , , , , , , , , , ,
Posted in Business Finance Bulletin

In the latest Business Finance Bulletin Rob Warlow from Business Loan Services discusses more emerging evidence from Bibby Financial Services and the Federation of Small Businesses of a dip in confidence amongst SMEs. Are we in for a rough ride in 2016?

If you’re a heavy user of fuel and may be struggling to get a commercial credit card because of a poor credit record then Rob shares a new solution which can also reduce your administration burden.

More news about the on-going problem with late payment. Rob shares a recent survey which highlights how much money is trapped in late payment and so holding back growth in the economy.

In the Business Finance Tip of the Week… when it comes to the production of Management Accounts, delegate but don’t abdicate.

If you prefer to listen to the podcast version you can click below or download to listen to later via our Soundcloud, Stitcher or itunes channel.

Business Finance Bulletin Episode 95: Market Invoice, Business Confidence, Sources of Finance & Crowdfunding

Posted on: October 30th, 2015 by blsuser1 No Comments Tags: , , , , , , , , , , , , , , , , , , , ,
Posted in Business Finance Bulletin

In the latest episode of the Business Finance Bulletin Rob Warlow looks at a new product launched by Market Invoice, the online invoice discounting provider. The new product called Contract Finance will help businesses release previously locked-up cash from contracts delivering regular income.

According to a survey from Bibby Financial Services business confidence amongst SMEs has taken a dent and bucked the recent trend of a rise in more confident businesses. Why is this?

Rob reveals the sources of finance business owners are turning to as featured in a survey carried out by Santander Corporate and Commercial Banking. Which source is proving surprisingly popular?

In the crowdfunding world, the latest lending figures from the P2P Finance Association show that its members are reaching new highs in their support of growing businesses. Rob looks at how SMEs are benefiting.

And in the Business Finance Tip of the Week, Rob shares a calculation you can make from your Balance Sheet and Profit and Loss Accounts which can help pinpoint a problem in your stock control.

If you prefer to listen to the podcast version you listen in below or download it via our Soundcloud or itunes channel.

Business Finance Bulletin Epsd 33: Sources of Business Finance, The Business Finance Guide, Crowdfunding Equity

Posted on: July 4th, 2014 by blsuser1 No Comments Tags: , , , , , , , , , , , , ,
Posted in Business Finance Bulletin

In this episode of the Business Finance Bulletin Rob Warlow looks at a survey from Bibby Financial Services on how business owners are financing their business. Also news about the launch of The Business Finance Guide issued by the ICAEW and the British Business Bank.

If you are thinking about selling equity in your business via crowdfunding then Rob looks at a way of how private investors can join in alongside experienced Angel investors.

And in the Business Finance Tip of the Week Rob has a chat with Steve Taylor, the latest member of the Business Loan Services, in which he shares tips on raising finance.

Business Finance Bulletin Epsd 25: Business Growth, Alternative Lenders and Business Planning

Posted on: May 9th, 2014 by blsuser1 No Comments Tags: , , , , , , , , , , ,
Posted in Business Finance Bulletin

Posted on 09.05.2014, by Rob Warlow

This week I look at a survey from Bibby Financial Services which points to further increasing confidence amongst UK business owners… but there is an aspect of this to watch out for.

Alternative sources of business finance continues to be important to business owners and with government looking to legislate that banks introduce clients to alternative lenders a survey reveals that the majority of business owners can’t wait for this to happen.

The number of new crowdfunding platforms continues to increase and I look at two new additions to the crowdfunding market – Funding Tree and Money & Co.

And in the Business Finance Tip of the Week I share why you should always be prepared and ready to grab the business opportunities that could come your way.

Enjoy this episode and please feel free to like it or share it on your favourite social network.

 

Business Finance Bulletin Epsd 23: Diversifying Your Funding Sources and Succession Planning

Posted on: April 11th, 2014 by blsuser1 No Comments Tags: , , , , , , , , , , ,
Posted in Business Finance Bulletin

In this week’s episode Rob Warlow looks at a report carried out by Bibby Financial Services on micro businesses and in particular the problems surrounding succession. In a further sign of the crowdfunding sector gaining more visibility Rob talks about a new arrangement between crowdfunding platforms and certain bank members of the British Bankers Association on the issue of sharing security.

Rob also shares his thoughts on the importance of diversifying your funding sources so you are not dependent on just one bank.

In the Business Finance Tip of the Week Rob looks at one aspect of getting a ‘no’ from your bank – why you should not see it as a fail.

 

Do You Trust Your Friends and Family Most for Business Advice?

Posted on: November 7th, 2013 by blsuser1 No Comments Tags: ,
Posted in Uncategorized

Posted on 07.11.2013, by Rob Warlow

We all like to turn to friends and family to bounce an idea around or to seek feedback but are they really the best source of advice?

According to new research from Bibby Financial Services friends and family are the most trusted sources of business advice for small business owners, even in preference to accountants, financial advisers and solicitors.

The research found that 23% of small and medium sized business owners said they trust friends and family the most when seeking guidance, followed by financial advisers (18%), the internet (14%), accountants (14%) and solicitors (9%).

However, when asked where they search out for advice most often 24% said they turn to online resources, with friends and family coming in at the second most-frequented source at 19%.

Although the internet is the most frequented source of business advice, 52% did admit that they would prefer to receive face-to-face advice, with only 14% saying that browsing the internet was their favoured way of finding information.

Whilst the findings don’t come as a surprise in that it’s easier and less threatening to speak those closest to you than turning professional advisors you need to carefully decide whom you’re asking advice from. Are your friends best placed to pick holes in your plan? Are they willing to step up and challenge your grand ideas for world domination or are you likely to get a simple ‘sounds good to me’ response?

Friends and family advice will get you so far but you’ll travel further with the right advice.

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What Our Clients Say

  • I wanted to thank you for such an insightful, energetic, and entertaining talk at the Kevin Green Wealth event on securing funding and creating a successful plan. It was brilliantly executed and a pleasure to listen to and the ideas I’ve learned are definitely going to help me in going forward.

    Max Cooper of Manchester
  • Rob delivered a series of 3 workshops aimed at understanding how finance houses look at finance propositions with the aim for us as a team to deliver more of a bespoke offering to our customer base. The training was delivered to a mixture of staff who work with new businesses start-ups and existing established businesses across Mid & South West Wales. Rob delivered the training with an abundance of passion and has really helped my team look at financial propositions in a different light, many thanks again Rob and I look forward to work with you in the near future.

    Shayne Yates | Welsh Government Regional Centre Service Mid Wales
  • Further to your recent presentation at LEAD Wales just wanted to say it was very refreshing to see somebody talk passionately and positively about finance, very insightful!

    Kay Hyde | Hyde & Hyde Architects
  • Hi Rob, it was so interesting and entertaining listening to you at the Kevin Green Wealth Coach Workshop in Reading this weekend! I didnt realise you can find Finance proposals such fun!. Brilliant tips! Thanks.

    Gaz Jabeen | Bollywood Burn Out
  • Rob kindly agreed to attend the recent Pontypridd RFC sponsors networking evening and delivered what can only be described as an excellent talk on 5 Tactics to Boost Your Business and Your Profits. He kept the audience engaged throughout and the feedback from everyone was excellent. Rob is very knowledgeable on business and finance and on top of that is a genuine nice guy. We hope to have him back at a future event and I have no hesitation in recommending Rob’s services.

    Angela Holloman-Coombes | Connective HR

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