Government Urged to Delay New Insolvency Rules
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Small business owners facing failure also face increased risk of losing their home.
Small business owners facing failure also face increased risk of losing their home.
Posted by Todd Davison on
The value of personal guarantee backed business loans to SMEs during the pandemic has risen on average by 45% according to analysis by Purbeck Insurance Services, provider of the UK’s only Personal Guarantee Insurance.
Posted by Todd Davison on
No company director wants to have to face up to the prospect of their business becoming insolvent. But directors have a duty to act in a certain way, in accordance with the relevant legislation, should their company find itself in a position where it can no longer pay its debts.
Posted by Todd Davison on
Applications for Personal Guarantee Insurance double[i] in September 2020 as lenders pull back from emergency loans
Posted by Todd Davison on
More than one million small businesses have successfully applied for a government-backed Bounce Back loan since the scheme was introduced at the start of May, according to figures from the Treasury.
The initiative has handed out loans worth more than £30 billion as SMEs attempt to drive their businesses forward during these testing times.
Posted by Todd Davison on
Posted by Todd Davison on
A rise in start-ups born during the pandemic[i] is hugely positive but also not surprising. We’ve had more time to think and do and explore new avenues, particularly where existing business models or employment have ceased to exist. Necessity truly is the mother of invention. But while the pandemic has created new opportunities, the lending environment for start-ups looks set to be challenging.
Posted by Todd Davison on
‘Keep your hands off my home’ - Start-ups get cash injection of £25 million without risk of personal guarantee
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For smaller businesses across the UK, the government has introduced a favourable lending package to help firms get access to the funds they need to survive the coronavirus crisis. The Coronavirus Business Interruption Loan Scheme (CBILS) is available via British Business Bank-accredited lenders including high-street banks and smaller specialist lenders until 30 September 2020.
Posted by Todd Davison on
Personal cost of Pandemic to business owners is high but optimism for the future prevails
Posted by Todd Davison on
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