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Banks fail to lend

A new report by the Big Innovation Centre warns that innovative small firms – those most crucial to jobs and growth – are finding it more difficult than their peers to secure funding to grow.

More than one in three innovative small firms that sought finance between 2010/2012 did not obtain any of the funding they needed – nearly triple the rate of four years ago.

With innovative small and medium-sized enterprises (SMEs) playing a crucial role in creating jobs and raising productivity, this highlights a systemic failure in the financial system that is holding back the UK economy.

Drawing on responses from nearly 11,000 SMEs, the Credit and the Crisis Report also shows how access to finance for all SMEs has worsened considerably since the start of the recession, with failure rates now double those of 2007/2008.

 

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SMEs miss a trick

SMEs miss a trick

The proportion of claims for late payment that include compensation has risen only marginally over the last two years, d... Read more

Business confidence high

Business confidence high

UK business confidence is at its highest point since May 2012, pointing to improved business conditions for the rest of ... Read more

Forum responds to Government plans

Forum responds to Government plans

Phil Orford, CEO at the Forum of Private Business, has responded to plans for legislation affecting companies, which was... Read more

Drop in admins

Drop in admins

Despite a rise at the end of 2012, corporate administrations for the first quarter of 2013 show that overall figures hav... Read more

Fuel prices hit hard

Fuel prices hit hard

Nearly a third (32 per cent) of businesses say that the rising cost of fuel and utilities is their biggest problem. Thi... Read more

Anglian cash fund

Anglian cash fund

A new £3 million fund to help grow small firms in Norfolk and Suffolk has been officially launched by Business Secretary... Read more

Late payers killing market

Late payers killing market

A leading temporary and permanent staffing solutions agency says that late payments are killing small businesses and now... Read more

Lending limited for fast-growing firms

Lending limited for fast-growing firms

Smaller firms needing credit have struggled to find proper backing, says the British Chambers of Commerce (BCC). Commen... Read more

New Business Bank boosts SMEs

New Business Bank boosts SMEs

Small businesses struggling to access finance have received a boost with the first phase of the New Business Bank. A to... Read more

Do you know about RTI?

Do you know about RTI?

New research by the Forum of Private Business has shown an increased awareness among small firms of the Real Time Inform... Read more

Understand your finances?

Understand your finances?

Less than half of UK accountants believe that their clients understand their finances and half say that their clients do... Read more

PPC abuse?

PPC abuse?

The Forum of Private Business is urging changes to the Prompt Payment Code (PPC) after it has learnt that firms with pay... Read more

MEPS want cash-flow help

MEPS want cash-flow help

Small firms need bank loans tailored to their needs, alternative forms of venture capital, clearer rules on cooperation ... Read more

Cash collection

Cash collection

Finding it harder to collect the cash? You are not alone! Responses from more than 750 credit managers suggest that conf... Read more

Wound up

Wound up

The number of petitions presented by HMRC to wind up companies has soared 57 per cent in one year as it gets tough on bu... Read more

Flexible working?

Flexible working?

A suggestion by a Government minister that workers should be allowed to ask for flexible working to avoid rush-hour cong... Read more

Beware of big firms going bust

Beware of big firms going bust

The start of the year brought devastating news on the High Street as thousands face unemployment with the loss of names ... Read more

Harder line on smaller debts

Harder line on smaller debts

More businesses are turning to the law to tackle the scourge of late payment and reduce their losses. Debt-recovery law... Read more

Average loan value up

Average loan value up

Personal asset lender borro’s average loan value to small-business owners and the self-employed has risen from £17,000 t... Read more

Business-overdraft scrappage

Business-overdraft scrappage

A total of £250 million worth of funding is being made available to encourage small and medium-sized firms to scrap thei... Read more

Credit-card details at risk

Credit-card details at risk

Fears are rising that most UK businesses are taking inadequate steps to safeguard customers’ credit-card details. Analy... Read more

Small firms under the cosh

Small firms under the cosh

Challenging domestic conditions, access to finance and weak consumer demand are taking their toll on the optimism of sma... Read more

Cash no longer king

Cash no longer king

Britain is moving closer to becoming a ‘cashless society’ according to new research by Clydesdale and Yorkshire Banks. ... Read more

Save millions in admin costs

Save millions in admin costs

More than 100,000 UK businesses could save millions of pounds in annual accountancy and administration costs under reduc... Read more

Small-business bank plan

Small-business bank plan

Chancellor George Osborne has unveiled plans for a Government-backed bank aimed at small businesses, saying that they wo... Read more

Relying on credit

Relying on credit

Household finances in the UK are now so stretched that more than a third of the adult population (36 per cent) believe t... Read more

Firms struggle for funding

Firms struggle for funding

One in three companies have been unable to secure finance in the past year, according to a survey on business success. ... Read more

Insolvency rockets at the coast

Insolvency rockets at the coast

A personal insolvency crisis is sweeping through seaside towns in the UK. A ClearDebt report shows that coastal areas i... Read more

Billions for exports

Billions for exports

However, UK Export Finance, the UK’s export credit agency, provided £2.32 billion of support to UK exporters to help bus... Read more

Eurozone crisis hits small firms

Eurozone crisis hits small firms

Fears over Eurozone uncertainty and instability are preventing small and medium-sized businesses from exploring the pote... Read more

Never on a Thursday

Never on a Thursday

If you are a late payer on a mission to avoid your creditors, the best days to be in the office are Mondays and Tuesdays... Read more

Contactless card limit rises

Contactless card limit rises

Upgrades have begun across UK retailers and vending machines to raise the contactless card payment limit to £20 from £15... Read more

Firms unaware of debts

Firms unaware of debts

Small businesses are being urged to check the financial status of business partners and suppliers before doing business ... Read more

Selling assets/raiding savings

Selling assets/raiding savings

A third of small businesses, however, are turning their backs on business loans to find alternative sources of funding. ... Read more

Funding plan may help

Funding plan may help

Small firms should benefit from the Government’s bank credit-easing plans, according to The Forum of Private Business. ... Read more

High-Street admin doubles

High-Street admin doubles

The Insolvency Service says there has been a massive increase in the number of retailers going into administration in th... Read more

Wonga for business

Wonga for business

A loan firm that offers small amounts to domestic customers with short-term cash-flow problems is branching out into bus... Read more

borro-ing up!

borro-ing up!

Average loan value to small-business owners increased by more than 17 per cent at the start of this year. Personal-asse... Read more

‘Double dip’ mirrored

‘Double dip’ mirrored

Small-business domestic turnover decreased by seven per cent between the end of 2011 and the first quarter or this year.... Read more

Cashflow tip

Cashflow tip

The Institute of Credit Management (ICM) and Mark Prisk, Minister of State for Business and Enterprise, have a new ‘tip’... Read more

Credit struggle

Credit struggle

A ‘credit gap’ is looming for small businesses this year, according to results from the fourth European Credit Risk Surv... Read more

Get on the web

Get on the web

Get on the Internet for more business - it's easy and cheap. Read more

Back to basics

Back to basics

Late payment remains an issue for small businesses as they struggle to stay afloat. Read more

Small firms more confident

Small firms more confident

Small-business confidence has improved despite rising overheads and finance probems. Read more

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