Tag Archive for Coronavirus

Small business confidence grows as shops reopen in England and Wales

Originally written by Anna Jordan on Small Business
Small businesses are feeling much more confident as shops reopen in England and Wales, according to the Federation of Small Businesses (FSB).
The group reports that its UK Small Business Index confidence measure has risen to 27.3 in Q1 2021, up from -49.3 in the last quarter. The index is at its highest level since Q3 2014 when it hit +41.00 and is in positive territory for the first time since Q2 2018.
Figures also show that close to two-thirds (58 per cent) expect performance to improve while fewer than a third (31 per cent) are expecting it to worsen.
More than half (51 per cent) of the almost 1,700 business owners surveyed believe their revenue will increase over the next three months. That’s the highest proportion since the summer of 2015. Fewer than one in four (24 per cent) expect sales to fall. The same figure stood at 84 per cent at this time last year.
Even more (53 per cent) aspire to grow their businesses over the next 12 months, the highest since Q3 2019, marking a 22-point percentage jump since this time last year.
It’s not all positive, though. Research from Nucleus Commercial Finance also

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Small business confidence grows as shops reopen in England and Wales

Originally written by Anna Jordan on Small Business
Small businesses are feeling much more confident as shops reopen in England and Wales, according to the Federation of Small Businesses (FSB).
The group reports that its UK Small Business Index confidence measure has risen to 27.3 in Q1 2021, up from -49.3 in the last quarter. The index is at its highest level since Q3 2014 when it hit +41.00 and is in positive territory for the first time since Q2 2018.
Figures also show that close to two-thirds (58 per cent) expect performance to improve while fewer than a third (31 per cent) are expecting it to worsen.
More than half (51 per cent) of the almost 1,700 business owners surveyed believe their revenue will increase over the next three months. That’s the highest proportion since the summer of 2015. Fewer than one in four (24 per cent) expect sales to fall. The same figure stood at 84 per cent at this time last year.
Even more (53 per cent) aspire to grow their businesses over the next 12 months, the highest since Q3 2019, marking a 22-point percentage jump since this time last year.
However, the FSB is also calling for cuts to hiring costs

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Recovery Loan Scheme 2021 full update – where do I apply for my loan?

Originally written by Anna Jordan on Small Business
The Government has launched its long-awaited recovery loan scheme today (April 6).
Announced at last month’s Budget, the recovery loan scheme (RLS) has replaced the Bounce Back Loan Scheme (BBLS) and the Coronavirus Business Interruption Loan Scheme (CBILS).
The aim of the scheme is to help businesses of all sizes to access loans and other finance so they can recover from the pandemic and move forward. It can be put towards improvements like managing cash flow, growth and investment.
Up to £10m is available per business. The minimum funding is £1,000 for asset and invoice finance and £25,001 for term loans and overdrafts. The total amount offered is at the discretion of the participating lender. They will carry out credit checks and fraud checks before granting you the finance.
>See also: What is invoice finance?
The Government is guaranteeing 80 per cent of the finance to the lender and the borrower will always be 100 per cent liable for the debt. The annual interest rate and upfront and other fees cannot be more than 14.99 per cent.
Unlike BBLS and CBILS, the RLS is being lent on standard commercial banking terms. Kreston Reeves says that businesses will need to

Read more...

Recovery Loan Scheme 2021 full update – where do I apply for my loan?

Originally written by Anna Jordan on Small Business
The Government has launched its long-awaited recovery loan scheme today (April 6).
Announced at last month’s Budget, the recovery loan scheme (RLS) has replaced the Bounce Back Loan Scheme (BBLS) and the Coronavirus Business Interruption Loan Scheme (CBILS).
The aim of the scheme is to help businesses of all sizes to access loans and other finance so they can recover from the pandemic and move forward. It can be put towards improvements like managing cash flow, growth and investment.
Up to £10m is available per business. The minimum funding is £1,000 for asset and invoice finance and £25,001 for term loans and overdrafts. The total amount offered is at the discretion of the participating lender. They will carry out credit checks and fraud checks before granting you the finance.
>See also: What is invoice finance?
The Government is guaranteeing 80 per cent of the finance to the lender and the borrower will always be 100 per cent liable for the debt. The annual interest rate and upfront and other fees cannot be more than 14.99 per cent.
Unlike BBLS and CBILS, the RLS is being lent on standard commercial banking terms. Kreston Reeves says that businesses will need to

Read more...