Startacus Join Now! /
View Our Toolkit

Financial news round-up for Small Business - October 14

Startacus RSS

by Startacus Admin

Welcome to the Startacus monthly financial news round-up, brought to you by Sophie Turton of Crunch Accounting.Financial news round up

British SME confidence lags behind other major economies, yet London reigns supreme as the world’s most desirable city to live and work in. Bank lending to SMEs fell again over the past quarter, prompting the government to focus on challenger banks as a source of lending power to small business.

British SME confidence lags behind International companies

British entrepreneurs’ confidence in their company’s future prospects lags behind other large economies, the latest Sage Business Index has shown.

The report shows a UK business confidence rating of 62.55, just above the average across all markets of 62.02.

Brazil reigns supremely confident with a score of 71.62, followed by Singapore at 66.96 and Canada at 66.80. Banks were cited as a key factor to blame for the lack of confidence, alongside lack of support from the British government. Over two-thirds of businesses said the government isn’t doing enough to put pressure on the banks to provide capital investment for small enterprise.

Bank lending to SMEs falls by £400 million

SMEs are still struggling to access funding from big banks, the latest Trends in Lending report has found.

The Bank of England’s study shows lending to small businesses through the government’s Funding to Lend scheme fell by £400 million in the second quarter of this year. This fall is less steep than the previous three months, which hit a low of £700 million. However, more needs to be done to support Britain's growing businesses.

Financial news round upGovernment unveils plans to boost UK “challenger” banks

Government proposal to support so-called “challenger banks” started gaining traction this month as economic secretary to the Treasury, Andrea Leadsome, outlined plans to boost SME lending.

An agreement has been made with large banks to disclose lending data by geographical location to help challengers identify exactly where help is needed. SMEs who want loans will be matched with challenger banks and other finance providers.

Ms Leadsome said the government plan to create a “more level playing field” for challenger banks, while helping SMEs gain access to better finance, as well as financial guidance.

London crowned “most desirable global city to move to for work”

More people around the world want to live and work in London than any other city, a survey of 200,000 people working in countries has found.

Despite London being the most expensive city, with property prices increasing by 18.4% in the past year alone, one is six want to come here to work, ahead of New York and Paris.

Startacus gives a huge thanks once again to Sophie and Crunch Accounting for sharing their expertise !


Startacus RSS
Business DealsSubmit Your Startup
Win TicketsNetwork and Collaborate
Our Latest Features



Published on: 3rd November 2014

If you would like to enable commenting via your Startacus account, please enable Disqus functionality in your Account Settings.


Create an Idea!View Other Ideas, Projects or Startups
Drive with Belron Why not Sign Up?
Create Projects
Edit Projects
Self Interviews
Self Starter of the Year
Product Giveaways
Subscribe to our Newsletter
  • AIB Start-up Academy Summit returns to Belfast! 13th Jan 2017 Northern Ireland startups and entrepreneurs listen up! The AIB Start-up Academy Summit will be back in Belfast and we’ve all the important info you need to bag your free ticket to attend!
  • Newcastle Startup Week Set to Inspire 11th Jan 2017 Newcastle Startup Week - a new festival of entrepreneurship aims to inspire local people to start businesses and attract greater inward investment to the city and wider North East of England region.
  • Drive with Belron Accelerator seeks disruptive Startups 7th Jan 2017 The world’s leading vehicle glass repair and replacement service provider Belron is back on the hunt for innovative startups to joins its ten week accelerator Drive.
  • Startup News UK 2016 Review - November and December 5th Jan 2017 The Donald, Startup programmes and Accelerators, investment news, & the UK's first university campus VC firm, it's all included in part 6 of our UK Startup News Review 2016.
Startacus
Check us out at our Google+ page!