Posts Tagged ‘late payment’

Aldermore Bank’s 10th Anniversary, Personal Guarantee Insurance and Late Payment Call Out- BFB 259

Posted on: May 25th, 2019 by blsuser1 No Comments Tags: , , , , , , , , , , , , , , , , , ,
Posted in Business Finance Bulletin

The credit crunch in 2008 was the start of the rise of the so-called Challenger Banks. This month, one of those early entrants, Aldermore Bank, celebrates its 10th anniversary. To open our latest Bulletin, we take a look at Aldermore’s achievements over the last 10 years.

When borrowing via a Limited Company, one downside is that lenders expect Directors to provide Personal Guarantees. Many can be reluctant to sign and in some cases it’s enough to put them off borrowing. However, that risk can be offset by taking out a Personal Guarantee Insurance policy. We take a look at how it works and where you can obtain such a Policy.

To close this Bulletin, news from The Small Business Commissioner that it has named-and-shamed another high profile business for its late payment practices. Another success story for the Commissioners Office with £32,000 paid following its intervention.

Prompt Payment Code, Knowing Your Numbers, and Company Insolvencies – BFB 256

Posted on: May 4th, 2019 by blsuser1 No Comments Tags: , , , , , , , , , , , , , , , , , ,
Posted in Business Finance Bulletin

With increasing focus being given to tackling late payment, we open our latest Bulletin with news of tough actions taken by the Prompt Payment Code organisation to ensure its members adhere to guidelines.

A survey on how many business owners have a grip on their financial performance and key indicators reveals that many have a lot to learn. We look at why it is important to know your numbers especially when it comes to raising finance.

To close the Bulletin, we review the latest company insolvency statistics released by the Insolvency Service for Quarter 1 2019. Perhaps not unexpectedly, the figures make gloomy reading.

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

Late Payment Call Out, Starling and FreeAgent Partnership and Asset Finance Sector Volumes – BFB 253

Posted on: April 13th, 2019 by blsuser1 No Comments Tags: , , , , , , , , , , , , , , , , , ,
Posted in Business Finance Bulletin

It has taken a while since the formation of the Small Business Commissioner office for them to name and shame a late payment offender, but the Commissioner has finally called out a well-known name. With the Commissioner’s focus on tackling late payment, will naming and shaming have an impact on other offenders?

Administrative tasks are not the favoured part of running a business. We look at the announcement from mobile-only bank Starling of its link up with cloud-based accounting package provider FreeAgent, which will reduce admin time and help with speedy production of Management Accounts.

To wrap up, our monthly look at activity in the Asset Finance sector with a mixed bag of results reflecting the degree of uncertainty which many business owners are currently feeling.

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.

Avoiding Invoice Scams, Government Tackling Late Payment, and Business Banking Hubs – BFB 249

Posted on: March 16th, 2019 by blsuser1 No Comments Tags: , , , , , , , , , , , , , , , , ,
Posted in Business Finance Bulletin

To start this week’s Business Finance Bulletin, we look at findings from a Barclays Bank survey which reveals that more small businesses are falling victim to invoice scams. With this type of fraud on the rise, what can you do to protect yourself?

In his Spring Statement, Chancellor Philip Hammond has listened to calls from small businesses to act in tackling late payment. The government has laid out the steps it plans to take in order to reduce the cashflow burden caused by larger firms delaying payment.

To round off this week’s Bulletin, with banks closing increasing numbers of branches, it’s rare to hear of new ones being opened. Barclays, Lloyds and NatWest though have announced the pilot launch of shared Business Banking Hubs. Could this collaborative approach be the way forward?

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.

Tackling Late Payment, Thin Cats Funding and Barclays Brexit Workshops – BFB 246

Posted on: February 23rd, 2019 by blsuser1 No Comments Tags: , , , , , , , , , , , , , , , , , ,
Posted in Business Finance Bulletin

To start our latest Bulletin, a call from the FSB for the Chancellor to take a tough stance on late payment. With the annual Spring Statement a few weeks away, the FSB is seeking three commitments from the government to tackle late payment.

To support small businesses in need of finance, we have news from the British Business Bank that its subsidiary, British Business Investments, has made £20m available to alternative lender Thin Cats. Could you use a slice of that funding?

No Bulletin would be the same without the mention of that ‘B’ word! To close, an announcement from Barclays that is it to hold a series of Brexit Workshops across the UK in March to help business owners plan ahead.

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.

Lloyds 2019 Lending Plans, Asset Finance Usage and the Prompt Payment Code – BFB 241

Posted on: January 18th, 2019 by blsuser1 No Comments Tags: , , , , , , , , , , , , , , , , , , , ,
Posted in Business Finance Bulletin

We open our latest Bulletin with the announcement from Lloyds as to how much lending it will be committing to UK businesses in 2019. The funding pot will be available to all businesses but with an emphasis on those businesses looking to export for the first time.

The Finance and Leasing Association has released up to date figures on the volume of business written by its members. The level of asset finance transactions is always a good indicator of how business owners are feeling, and the recent figures are a mix of good and bad news.

To close, we look at the call from the FSB for a review of the Prompt Payment Code. This voluntary code is designed to curb late payment, but 12 months on from the Carillion collapse the FSB wants to see it strengthened.

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.

Open Banking Benefits, Late Payment Naming and Shaming and Brexit Planning Advice – BFB 240

Posted on: January 12th, 2019 by blsuser1 No Comments Tags: , , , , , , , , , , , , , , , , , , ,
Posted in Business Finance Bulletin

To kickstart our first Bulletin of 2019, a look at new research into the benefits of Open Banking. Following its launch 12 months ago, a survey reveals the level of awareness of what Open Banking has to offer and the benefits business owners say it brings.

The Small Business Commissioner, in conjunction with Lloyds Bank, has taken a look at the impact reporting requirements for large businesses has had on their payment practices. Perhaps not surprisingly, there is clearly still work to do in order to minimise instances of late payment.

With the Brexit date looming, we look at the latest government initiative to help businesses plan ahead for the proposed changes. The launch of an Exit EU website is designed to assist business owners identify how they will be affected and actions they can take.

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.

Northern Ireland Growth Finance Fund, Tackling Late Payment and Bank Complaints Process – BFB 238

Posted on: December 8th, 2018 by blsuser1 No Comments Tags: , , , , , , , , , , , , , , , , , , ,
Posted in Business Finance Bulletin

We start our latest Bulletin with good news for businesses located in Northern Ireland with the announcement of the launch of the Northern Ireland Growth Finance Fund. With three major contributors including the British Business Bank, the fund will support businesses in the region with growth ambitions.

It’s 12 months since the Small Business Commissioner role was established. With the key focus being on containing late payment and acting as an arbiter between small and larger businesses, what progress has been made in its first year?

Complaints from small businesses about banks are common place, but for many businesses, they have no formal complaint process outside of the bank’s own internal department. We look at news that a voluntary process has been agreed between key UK banks which will help larger SMEs to resolve complaints.

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.

High Risk Business Loans, Creditsafe Quarterly Business Review and Bank Complaints – BFB 231

Posted on: October 20th, 2018 by blsuser1 No Comments Tags: , , , , , , , , , , , , , , , , , , , ,
Posted in Business Finance Bulletin

Are we seeing a build-up to another credit crunch? That’s a concern the Bank of England has flagged up following an increase in the volume of what it perceives as high-risk loans. If that’s the case, what can you do to prepare?

We look at the latest quarterly business review from Creditsafe, the credit reference agency, which has a mix of surprisingly positive news on sales growth and a less positive outlook on a potential growth in late payment.

To close this Bulletin, good news from the Financial Conduct Authority with its announcement that from next year small business owners will be able to refer complaints about their bank to the Financial Ombudsman Service. Finally, small businesses have an option to pursue complaints which doesn’t involve going to Court.

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.

Businesses Cautious on Borrowing, Curbing Late Payment and Regional Angel Investors – BFB 229

Posted on: October 6th, 2018 by blsuser1 No Comments Tags: , , , , , , , , , , , , , , , , ,
Posted in Business Finance Bulletin

A recurring theme in recent Bulletins has been emerging evidence of reluctance among small business to borrow and this trend is a highlight of the latest SME Finance Monitor Report. The report also reveals the top three issues which are of most concern to small businesses. Is access to finance still an issue?

Late payment has been another constant problem we have regularly featured in our Bulletins. In an effort to curb late payment the Government has called for thoughts from businesses on how it can tackle this problem. Do you have an idea to contribute?

To close this Bulletin, a look at a new £100m fund launched by the British Business Bank. With a large portion of angel investment focused on the South East, the Regional Angels Programme aims to improve access to early stage equity finance across the whole of the UK.

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.

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