As we approach the general election on July 4th, businesses, especially SMEs, need to prepare for potential economic instability caused by wavering confidence in the business landscape.
In today's rapidly changing economic environment, protecting your assets has become more than just a preventative measure; it's now a necessity.
The start of a new fiscal year presents the perfect opportunity to reassess your business’s financial position and plan ahead to ensure future success.
April 2024: As the Federation of Small Businesses (FSB) calls for a more comprehensive investigation into the use of personal guarantees for small business loans, the number of small business owners becoming personal guarantors continues to rise. According to new analysis of applications for personal guarantee insurance in Q1 2024, by Purbeck Personal Guarantee Insurance, the UK’s sole provider of insurance protection for personal guarantees, there has been a 49% rise in business owners seeking Personal Guarantee Insurance (PGI) for a small business loan. And most of these were for loans to simply keep their business running.
Imagine you’re launching your business – a passion project that’s been brewing in your mind for years. You have the idea, the plan, and the drive to make it happen, but when it comes to securing the financing needed to turn your vision into reality, you hit a brick wall.
March 2024: As the FCA outlines its plan to address the Federation of Small Business’ super-complaint regarding the use of personal guarantees on small business loans, Todd Davison, MD of Purbeck Personal Guarantee Insurance says:
FCA response to FSB super-complaint is imminent
When it comes to navigating the market and understanding complex insurance options, clients sometimes need a little helping hand to find the right solution that will meet their needs.
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