Posts Tagged ‘tackling late payment’

Single Invoice Insurance, Supply Chain Failure and Tackling Late Payment – BFB 284

Posted on: January 27th, 2020 by blsuser1 No Comments Tags: , , , , , , , , , , , , , , , ,
Posted in Business Finance Bulletin

Insuring the whole of your debtor portfolio against non-payment can be expensive. Opening our latest Bulletin, we look at the announcement of a partnership between Barclays and single invoice insurer, Nimbla. Rolling out on a trial basis in selected regions, Barclays customers will benefit from cost-effective credit insurance.

When reviewing finance requests from larger SMEs, banks will consider the risk and impact of supply chain failure. A survey from Aldermore reveals that many businesses have not reviewed the likelihood or consequences of supply chain failure.

To close, proposals have been set out in the form of a draft Bill to the House of Lords to tackle late payment. What actions are being proposed? To back-up the need for action, a survey from Pay UK uncovers the impact late payment has on business owner’s mental health.

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.

The Return of Certainty? Challenger Banks Partnerships and Late Payment Improvement – BFB 281

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

To open our final Bulletin of 2019, a fitting close to this season with a look at the possible return of certainly following the Election result. Will the parliamentary majority be enough to overturn the feeling of uncertainty which has dominated the last 12 months?

Challenger banks are often at the leading edge when it comes to innovation and in terms of linking up with 3rd small business service providers that’s no exception. We look at announcements from Metro Bank and Starling Bank of partnerships available to their SME customers designed to improve efficiencies and access specialised services.

To wrap up our last episode for 2019, some good news on late payment. We review a new survey from MarketFinance which reveals that 2019 saw an improvement in late payment practices, lessening the cashflow strain for many small businesses.

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.

Business Investment Appetite, EPC Ratings, and Late Payment Burden – BFB 278

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

The latest SME Confidence Tracker from Bibby Financial Services reveals a continual decline in investment appetite among small businesses. What are the barriers to investment and of those businesses which are investing, what are they planning?

If you’re thinking of purchasing a commercial premises for investment purposes, one often over-looked requirement is the need for a compliant Energy Performance Certificate. We look at why failing to hit a minimum rating can scupper your chances of obtaining finance.

To close this Bulletin, a survey from Pay UK puts a spotlight on the burden and cost to small business owners of the rising late payment problem.

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.

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.

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.

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.

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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