New scheme launched to improve UK exporters’ access to trade finance

A new scheme has been launched to increase the availability of trade finance facilities for UK exporters and help ease the cash flow challenges of exporting. By providing lenders with a partial guarantee on trade finance facilities, the UK Export Finance (UKEF) General Export Facility scheme, which was launched in December 2020, is hoped to
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Credit Reinsurance Scheme extended as rising late payment revealed

Businesses have welcomed the news that the Government has extended its Trade Credit Reinsurance Scheme as new figures reveal that the pandemic has exacerbated Britain’s late payment problem. According to the Institute of Directors, over a third of company directors polled said they had faced an increase in late payments during the pandemic, with almost
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New business start-up challenges you may face and how to overcome them

If you’re thinking about becoming your own boss or you’ve recently started a business there are many challenges you will face that could be the difference between success and failure. There were 672,890 new companies registered in 2018 to 2019, according to Companies House data. Some will become multi-million pound successes, some will last forever,
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Now is the time to benchmark your funding for 2021

For many businesses this year, accessing cash has been at the front of their minds, and they are likely to be using a very different combination of funding facilities than they were this time last year. While the funding options some businesses have used during the pandemic have been critical to their survival, others may
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Building a High-Functioning Team

Public policy response to the pandemic, mandating lockdowns and other restrictions on commerce, has created special challenges for business. Recruiting now comes with a unique set of considerations, along with the integration of new employees. Hiring and on boarding new staff remotely is new territory for most of us and working from home. The terrain
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Application deadlines for COVID loan schemes extended

The government has announced plans to extend the application deadline for loan guarantee schemes – that is, the Bounce Back Loan Scheme, Coronavirus Business Interruption Loan Scheme, and Coronavirus Large Business Interruption Loan Scheme – to the end of January 2021. This will give businesses two extra months to make loan applications, relative to the
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UK Governments small business support packages labelled confusing by 73%

New research has shown that almost three in four people feel that the government’s business support packages were confusing. Additionally, 85% of respondents said that the measures launched to help businesses combat the impact of the pandemic were still not enough to give them the support they needed. The latest measures, announced last week by
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It’s an interesting thought: is it really possible to characterise an entire profession, one which plays such a crucial role in the performance and strategy of businesses in the UK today?

A deeper understanding of the characteristics and skills involved in the role of finance director can help CEOs and recruiters when filling those positions, and can also be hugely beneficial to finance directors themselves. It can highlight areas they may want to develop, help them realise their own strengths and give them the opportunity to
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Economic update reveals new schemes to support employment in the UK

The latest Economic Update Statement from Rishi Sunak today has detailed a new scheme to replace furlough, as well as further funding and cash flow support for UK businesses. Unveiling the latest plans, Mr. Sunak spoke of the importance of creating new opportunities that would translate to viable, secure jobs and allow the economy to
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Loan schemes provide over £50bn, but is it a long term solution?

Loan schemes put in place at the beginning of the Covid-19 pandemic have seen more than 1.23 million British businesses borrow over £50 bn. The end dates for the loan schemes are getting closer, and business will need to act fast if they are still hoping to secure funding through the Corona virus Business Interruption
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