Why SMEs Are Turning Their Back on Banks

Is it true that small and medium-sized enterprises (SMEs) have been turning their back on banks? Have alternative lending options become more attractive to business owners? Even though it’s only 46% of businesses who utilize external finance[1], it’s extremely important that businesses are properly financed because it is mainly used for growth and investment. Throughout…

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VAT Payments from SMEs up 10% in 2014

Data published by accountancy firm UHY Hacker Young points to a significant increase in the amount of additional VAT being paid by SMEs following compliance investigations. The accountancy firm’s research shows that in the past year, the HMRC took an additional £3.9bn in VAT payments from compliance investigations, an increase of 10% on the previous…

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SME Lending Up 55% in September

Improvements in SME Lending Conditions Small businesses have benefited from record levels of financing thanks to a long awaited improvement in SME lending conditions, and a rise in fresh lenders including; peer-to-peer lender Wellesley & Co., founded in 2013, and Shawbrook Bank, established in 2011. Additionally, a report from the Bank of London and The…

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Three Ways To Grow Your Manufacturing Business in 2015

According to BDO’s Manufacturing Index, which measures expected growth rates, expectations have fallen from 113.2 in August to 111.68 in September. With the manufacturing industry’s biggest market being the EU, poor economic performance of Europe’s biggest economy, Germany, was definitely a factor in this decline. However, there is a way the manufacturing industry, especially the small…

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