NEWS

The latest from Balance for Business

Two thirds of UK SME bosses face recruitment and retention difficulties

Aldermore’s latest Future Attitudes report reveals that 67% of SMEs, representing 3.82m firms across the UK, find it difficult to hire qualified staff members or retain existing talent. The study, which surveyed more than 1,000 business decision-makers across the UK, found that the most commonplace concern is finding the right people (32%), with key employee […]

MORE

Business rates retention warning

The Government has been warned that allowing councils in England to retain more of their business rates revenue could actually result in damaging shortfalls in funding while also driving divisions between different areas. The Institute for Fiscal Studies says local authorities which enjoy the biggest increases in such revenues are unlikely to be those with […]

MORE

How to beat the dividend allowance cut

Ahead of the tax-free dividend allowance being cut from £5,000 to £2,000 in April, Your Money highlights some of the ways in which employees and directors of small businesses can shield their portfolios from tax.   Click here for the full article Click here for related articles

MORE

SMEs shun big banks for funding

Businesses in the UK are shunning traditional overdraft and loan facilities from the high street banks according to in-depth nationwide study. The SME Finance Monitor, which is funded by the high street banks themselves, shows that 50% of small and medium-sized companies describe themselves as “permanent non-borrowers” which is up from 33% from 2012.  Indeed, […]

MORE

Growth on the agenda for 80% of SMEs

The latest Flexspace Business Sentiment Survey suggests around 80% of SMEs expect moderate or substantial growth for their business in 2018. Of the 150 businesses surveyed, 126 (78%) also expect their confidence in the UK economy to increase or remain the same for the remainder of 2018. Some 43% of business owners said they intended to […]

MORE

P2P becoming more popular

Peer-to-peer lending platform Lendy says the number of conversions of farm buildings into homes dropped 20% in the last year. Lendy adds that bank lending to property developers remains low and that peer-to-peer lending is becoming more popular as a result.   Click here for full article Click here for related articles

MORE

Half of UK SMEs unable to access growth funding

New research from small business finance provider, Liberis, shows that over half of UK businesses are unable to access the funding they need to grow, with the main factor being a lack of knowledge or understanding of funding options. Rob Straathof, the firm’s CEO, said: “These findings have opened our eyes to a lack of […]

MORE

Finance options broaden but regional funding gap continues

Businesses in the North of England are increasingly benefiting from better access to equity and alternative finance, according to the organisation behind the Northern Powerhouse Investment Fund, but the majority of any such backing remains concentrated in London. About 51% of the total number of UK equity deals between Q4 2016 and Q3 2017 took […]

MORE

Treasury reports less borrowing and high tax income

The Treasury has enjoyed a double-header of good economic news this week, as figures show the government is on track to borrow considerably less than expected this year due to significantly stronger tax receipts than predicted in January. Figures from the ONS showed that public sector borrowing was in surplus of £10bn in January, beating […]

MORE

Small businesses look to specialist lenders for loans

Keith Morgan, chief executive of the British Business Bank, has said SMEs are diversifying their sources of funding away from big banks, choosing instead to shop around for specialist lenders. There was a 79% leap in equity investment to £4.5bn, a 12% jump in asset finance to £18.6bn and a 51% rise in peer-to-peer lending […]

MORE