business funding

Pension Freedom Reforms to Fuel Rise of ‘Later-Life Entrepreneurs’

Pension Freedom Reforms to Fuel Rise of ‘Later-Life Entrepreneurs’

One in 10 people set to retire in the next 18 months intend to start a business or go into consultancy, following new pension freedom reforms which mean over 55s can access their pension in lump sums. The new reforms enable anyone over the age of 55 to use their accrued pension fund in any way they wish, including taking their entire pension fund out in a single amount. The research from AXA Wealth, which featured 1,500 UK residents, found that the average retiree’s pension fund was £550,000 and, of the one in 10 planning to go into business, 47% expect to use a quarter of their fund to obtain a tax-free cash injection to launch a company. As a result of the new reforms, industries including is healthcare, transport and travel, professional services, manufacturing, IT, education, HR, arts ... »

UK Alternative Finance Market to Double in Growth in 2015

Alternative funding provided over £1.2bn in finance to 7,000 UK small businesses this year Alternative funding to small and mid-sized businesses is on track to reach £1.74bn by the end of this year, with predictions that it will increase by more than double to £4.4bn by the end of 2015, according to a new study. The research, which is the largest alternative finance study to date, found that in the first three quarters of 2014 alternative finance platforms enabled investment of £1.2bn to over 7,000 small and medium firms. The report revealed that peer-to-peer business lending was the most popular form of alternative finance totalling £749m, followed by peer-to peer consumer lending which equalled £547m. Equity-based crowdfunding was another popular option in 2014, up 201% to £84m. Publishe... »

Bibby Financial Services Launches New Funding Initiative

Specialist invoice financier Bibby Financial Services has today launched a new funding initiative aimed specifically at businesses with a turnover of between £250k to £1m. The offering is designed to meet demand in the market for a single fee structure and reduced contract period, assisting those businesses which may not have used invoice finance services before or are unsure of committing to a long-term agreement. The initiative, which will run until the 31st December 2010, will allow businesses to gain instant access to cash tied up in unpaid invoices. The minimum contract period for the offering will be just six months*, with a simple fee structure based on company turnover. Edward Rimmer, UK chief executive, Bibby Financial Services, says: “We’ve launched the initiative in respon... »