Jul
29 Banks to be pressured to increase business lending
Vince Cable, the government Business Secretary, has warned banks that
they are not acting in the national interest, failing to increase
lending to businesses. The banks argue that there are loans available
but many cautious business owners are not applying.
Mr. Cable has made it clear that the government are currently monitoring
the situation and if it does not improve sufficiently in the near future
more bank regulation may be needed. This may be in the form of bonus
restrictions or loan guarantee schemes.
Mr. Cable is looking into a range of measures to improve the flow of
cash to businesses. However many business owners do not want to take out business
loans where the high rates of interest make it difficult for them to
afford repayments. Perhaps the business secretary should be pressing for
banks to reduce rates offered to customers first.
Finding the best rate
business loans could save your business money each and every month.
Whilst high street banks insist they are lending to businesses it is
certainly at a price and many business owners would be better looking at
an independent business loan broker who have access to multiple lenders
to secure the best deals.
A quick enquiry to them will show you whether they can offer you a
better rate than your bank. They are also useful if your business has
had credit problems in the past or been turned down elsewhere. By
utilising a broker you have access to specialist lenders looking for
your type of business.
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Economy
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Financial
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Jul
15 More businesses relying on credit cards
A recent survey from the Scottish Government suggests that around one
third of Scotland’s small businesses are relying upon credit cards to
keep their business going. Most are using corporate credit cards but
some are using their own personal credit cards. Either option is likely
to attract extremely high interest rates if the full amount is not paid
off at the end of the month.
Many businesses that have approached their banks for funding have been
turned down. Whilst business lending from banks has improved since 2008,
at the height of the financial crisis, it is still difficult to get a business
loan from a traditional high street lender.
Another option for businesses is to approach a broker, such as
ourselves, who have access to a number of different lenders. Each lender
has its own acceptance criteria and if one cannot help your business it
is very likely that another will.
We keep abreast of all of the latest business
loan rates and plans to enable us to quickly fit a loan to your
individual circumstances. We can guide you through the application
procedure and help with paperwork and other requirements from lenders.
Already been offered a business loan? Still get in touch with us to see
if we can offer you a better rate. A few pounds per month saving can add
up over the course of your loan term and it’s better the money is in
your pocket rather than the banks!
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Business
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Economy
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Financial
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Jul
07 Any purpose business loans
We deal with all types of businesses and can provide business loans and
finance for a variety of reasons. Some typical examples of our any
purpose business loans are as follows:
1. New equipment
As technology advances new equipment becomes available which may improve
the efficiency of your business. As the years go by your old equipment
wears out or breaks. In either of these situations a loan for new
equipment would help your business.
2. Refurbishment
Offices, shops, pubs and restaurants will from time-to-time require
“doing up”. Business loans for refurbishing your property are available.
3. Property purchase
If you want to buy a property to house your business loans are available
to fund buying the property in question.
4. Buying a new business
If you wish to buy a business that is already trading there will be a
cost involved. We can help you fund buying a business.
5. Bridging
Loans
You might have a property on the market and are awaiting sale and you
need to release the cash tied up in it, you may need to move quickly in
the property market or have had a last minute hitch, or bought a
property at auction and only have 14 days to complete.
These are just some of the ways we can help you with business finance.
Whatever you need money for, contact Yes
Business Loans – we are here to help your business.
Categories:
Business
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Financial
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Jul
02 G20 leaders welcome UK budget actions
Leaders of the world's major economies are committed to halving their
deficits by 2013. The actions taken in last week’s emergency budget by
the UK Chancellor, George Osborne, have been welcomed by the G20 leaders
at their summit in Canada.
With the UK having one of the largest deficits the need to take action
early was imperative, confirmed by David Cameron in his press conference
at the end of the summit - "For some people, particularly countries like
Britain with the biggest budget deficit in the G20, that action has to
be fiscally consolidated, it has to be sorting out our debts and our
deficit so we get confidence in our economy."
The “tough but fair” budget measures have meant tax rises and spending
cuts on a significant scale. These have been opposed by the Labour
opposition as too much, too soon. Only time will tell.
For businesses, those dealing with the public sector could be worst hit
as spending is set to be slashed by up to 25% in many departments. This
will have a knock on effect on suppliers. Other business measures in the
budget were generally welcomed by the business community as they could
have been a lot, lot worse.
Business loans were
unaffected by the budget and signs of recovery in the market continue
with more lenders and money available.
Categories:
Business
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Economy
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Financial
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Jun
28 Housing market receives boost due to scrapping of HIPs
The 2010 RICS Housing Market Survey headline net price balance for May
increased from +19 to +22.
This is it's best level since January, buyer interest also continued to
increase during the month. The new enquiries net balance edged up from
+9 to +10. More significantly, the abolition of HIPs has resulted in a
sharp increase in new instructions, with the net balance jumping from
+11 to +21. This trend should also continue in the near future.
In response to a specific question, 73% of surveyors said that they
expected the decision on HIPs to lead to a much higher level of new
instructions with the increase in supply anticipated to be around 15%.
Categories:
Economy
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Financial
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Jun
14 Highest stock levels since Jan 08 due to increased seller confidence
According to FindaProperty.com the number of properties for sale in the
UK has risen for the fifth month in a row, with stock levels now 145%
higher than in January 2008.
Their research also shows that the scrapping of HIPs and worries over
changes to Capital Gains Tax have convinced would be sellers to market
their properties. Despite the increase in the number of property for
sale, prices have also risen in June. The average home in the UK is now
priced at £220,308, up 0.3% when compared to May (£219,748).
Categories:
Economy
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Financial
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Jun
02 Housing market gets boost with the removal of HIPs
The latest Agency Express Property Activity Index shows a massive boost
for the UK housing market last month with the abolition of Home
Information Packs (HIPs) which contributed to a significant increase in
housing activity.
Ther was a 13.6% increase in the number of homes being put up 'For Sale'
in May which was up a massive 89.4% on April 2009's level. It's the
highest level seen for more than two years (since April 2008).
The number of properties Sold also increased in May by 8.6% on April and
17.0% up on May 2009. May's sales were the third highest monthly level
since April 2008.
Categories:
Economy
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May
24 Business investment rises 6% in first quarter 2010
Figures from the Office for National Statistics show that business
investment for the first quarter 2010 is up 6% over the previous
quarter. Whilst this is good news, the figure is still 11% lower than
the same period last year. So we won’t get too carried away!
The 6% rise indicates an increase in business confidence, albeit small,
and backs up our view that business
lending is now becoming more available. The business friendly
measures announced by the Government recently should further increase
business confidence and continue the growth in business investment.
Hopefully the forthcoming budget will cement the pro-business view of
the government and continue the rise in confidence and investment.
Is your business looking to invest? Say Yes to a business loan from Yes
Business Loans. All types of businesses catered for and competitive
rates and terms can be obtained for the majority of loan requests put to
us.
Categories:
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Economy
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May
19 Business awaits first coalition budget
The newly formed independent Office for Budget Responsibility will in
future publish economic and fiscal forecasts in advance of the budget,
rather than the government. These won’t be binding upon the Chancellor
of the day but will be difficult to ignore politically.
The “emergency budget” of the new coalition government will take place
on Tuesday 22nd June. In advance of this the government is expected to
reveal how it will save £6bn this year in spending cuts.
Critics argue that cuts should be delayed due to the fragile nature of
the economic recovery so far. However the Government looks set to press
ahead straight away to reduce the colossal deficit of around £166bn.
Many economists are predicting a rise in VAT from the current 17.5%.
This could rise as high as 20%, although the increase may be delayed for
retailers to cope with the complicated changes needed to their
infrastructure. A 20% rate of VAT could raise as much as £11.5bn a year
for the Treasury.
There is also expected to be news on Capital Gains Tax (CGT) with some
form of rise in the offing. Full details are not yet known although the
rate for business assets is likely to stay lower than for personal
assets, protecting perceived entrepreneurship.
Categories:
Business
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Economy
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Financial
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May
17 Affordable business loans available now
The new coalition government have declared that supporting the growth of
small businesses should be a core priority. In addition, the appointment
of Vince Cable as Secretary of State for Business, Innovation and Skills
has been welcomed by a number of business organisations including the
FSB and British Chambers of Commerce.
Ensuring the flow of credit to business will be key in getting business
moving again and kick-starting the recovery, as will government moves to
reverse the proposed National Insurance rise and increase tax thresholds
for low earners.
Whilst many businesses have been struggling to obtain a loan through
traditional high street lenders, Yes
Business Loans continues to lend to all types of business for any
circumstance. Our position as brokers leaves us ideally placed to
service business loans with a number of lenders to choose from.
Reversing the recent decline in business
lending will take time for the new Government but in the meantime
Yes Business Loans are open for business. We welcome all enquiries so if
you are a business looking for any type of funding please get in touch.
Categories:
Business
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Economy
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