NEWS

The latest from Balance for Business

Accessing Funding in 2019

With many things seeming uncertain at the moment, we are still busy helping SME businesses to access funding in 2019 and wanted to share some thoughts with you. It has been split into 4 sections as below:- The process of obtaining funding Whilst funders try to move quickly, it often takes longer than we may […]

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Record profits for iconic sports car maker

An iconic 110-year-old British sports car manufacturer almost doubled its profits during 2018 to record levels. Morgan Motor Company has reported a pre-tax profit of £3.1m for the year to 31 December 2018, up from £1.7m in 2017. The new figures come after Investindustrial acquired a majority stake in the business for an undisclosed fee in […]

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Google boss calls for simpler taxes

The boss of Google in Europe has called for company tax rules to be simpler, while saying firms like his were boosting the economy in other ways. Matt Brittin said: “We want to make a big contribution. Tax is one way, but actually using our products and services to save you money, get new jobs […]

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FCA issues fines over unsuitable pension advice

The Financial Conduct Authority has published Decision Notices against three firms and five individuals for “acting without integrity” in relation to their pension advice business and for misleading the regulator. The three firms include Financial Page Ltd and Henderson Carter Associates – which are now in liquidation – and Bank House Investment Management which the FCA […]

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Tech to boost SME finance market

New research from PwC has found that technology will help to grow the UK SME finance market by £4.1bn within a decade as tech companies and peer-to-peer lenders move into small business lending. PwC predicts that established tech players and peer-to-peer lenders will carve out a 37% share of the SME finance market between them […]

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HMRC breached privacy rules with voice recordings

HMRC is deleting voice records of five million taxpayers as the way they were collected broke privacy rules, with the Revenue failing to gain explicit consent from individuals using a voice ID system for telephone enquiries. The Information Commissioner’s Office (ICO) said there had been a “significant” breach of data laws and issued an enforcement […]

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Regulators join forces to tackle financial services pheonixing

The FCA has launched a new working group to tackle the ongoing issue of pheonixing in financial services. Pheonixing involves firms and individuals deliberately seeking to avoid their liabilities to consumers or poor conduct history by closing down firms – or resigning senior positions – only to re-emerge in a different legal entity. The FCA […]

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Free cash machines disappearing fast

Free-to-use cash machines have been disappearing at a rapid rate across the UK, according to a study by Which? The consumer group found nearly 1,700 machines started charging for withdrawals in the first three months of the year, with the majority starting to charge in March. Cardtronics, which runs most of those, and fellow provider […]

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London named top European city to invest in…

London has moved up to second in Schroders’ global ranking of cities with the most investment potential. The capital rose from third place in 2017 and eighth place in 2016 in the Schroders Global Cities 30 index, with only Los Angeles ahead of it. Paris in 17th place and Munich in 28th are the only […]

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Over 20% of SME leaders unaware of key stats

Over a fifth of SME bosses are unable to recall any key financial statistics about their business, according to research by Nucleus Commercial Finance. The research, which surveyed over 500 senior SME decision makers, also revealed that 50% were able to recall their turnover for the last financial year; 46% were able to recall the […]

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