Hot Business News Today

A guide to getting a small business loan

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Originally written by fundingoptions on Small Business
Most companies, large or small, are likely to require funding at some point in their lifecycle. At times, you may need a quick cash injection to ease temporary cash flow issues, at others, a longer-term finance solution to set your ambitious growth plans into action.
You can use a small business loan to fund:

Hiring more staff
Purchasing equipment
Investing in stock
Paying for crucial expenses
Easing cash flow issues

With so many lenders on the market today from high-street banks to alternative lenders, offering innovative business loan solutions, there’s a business loan option out there for almost every SME.
You might even be eligible for a small business loan if you’ve been trading for less than two years, have a relatively low turnover or a less-than-perfect credit history.
Whatever your circumstances are, this simple guide to getting a small business loan is designed to cover the basics of what you need to know. Let’s start with a definition.
What is a small business loan?
A small business loan provides startups and SMEs with the finance they need to succeed. With a term loan, the business owner borrows money from the lender and agrees to pay it back, alongside any interest, over a set period

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Hot Business News Today

Over 835,000 new UK businesses were registered in the last year

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Originally written by Anna Jordan on Small Business
An astonishing 835,494 new businesses were registered in the UK during the last year, according to Reboot SEO Agency.
That’s a 41 per cent increase from 2019 when 591,924 businesses were registered and a 96 per cent increase from 2018 when the figure sat at 425,703. It’s a 141 per cent increase from 2017 when 345,675 new businesses were registered.
The most popular new business between January 2020 and January 2021 is retail sale through mail order houses or via internet, with 39,733 registered.
Activities within this category could include internet auctions, internet retail sales, mail order, radio direct sales, telephone direct sales, and television direct sales.
This is followed by buying and selling property/real estate with 30,637 businesses registered. In third place is ‘management consultancy activities other than financial management’, with 29,911 new businesses registered. ‘Other service activities n.e.c.’ with 26,397 registrations followed and in fifth place ‘other letting and operating of own or leased estate’ with 26,264 businesses registered.

The city with the highest number of new businesses is London with 219,679. In second place is Birmingham with 19,724 businesses and Manchester in third with 17,517 businesses registered in the last year.
Gen Z are leading the

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