Financing business

UK banking culture 'throttling' economic recovery

UK banks have been accused of 'throttling' the country's economic recovery because of an 'anti-business culture' and an 'obsession with short-term trading profits', business secretary Vince Cable has warned.

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Average cost of starting a business edges close to six-figures

Entrepreneurs require an average of £94,000 in capital to get their business off the ground, research from personal asset lender Borro has found.

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'Serious failings' in bank mis-selling to businesses

The Financial Services Authority (FSA) has found 'serious failings' in the ways banks sold specialist insurance products to businesses, it has announced.

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Scotland: SME access to finance eases

More than four out of five small businesses in Scotland are successfully applying for finance, latest figures from the Scottish Government indicate.

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Four in ten SMEs win appeal against rejected bank loans

Around 40 per cent of SMEs who had their loan requests rejected by a bank have had their appeals overturned, an annual report from the British Bankers Association (BBA) has found.

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£100 million of SME funding open to alternative lenders

The Government has opened up £100 million in funding to alternative lenders wishing to invest in small businesses.

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SMEs reject business payday loans

Small businesses are unwilling to use payday loans as a way of financing their business, according to market research company BDRC Continental.

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£200 million coaching programme aims to accelerate SME growth

A new £200 million coaching programme aimed at helping up to 26,000 small and medium enterprises (SMEs) to reach their full potential, has been launched by the Government.

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Corporate insolvencies on the rise while personal insolvencies fall

The number of company insolvencies increased in the first quarter of 2012, although personal insolvencies were down compared to last year, figures from the Insolvency Service show.

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MPs call for Government to help SMEs in bank 'mis-selling scandal'

Toby Perkins, shadow small business minister, and Chris Leslie, shadow Treasury minister, have called for the Government to take urgent action against growing claims that mis-selling by banks has driven many driven small businesses to the point of bankruptcy.

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