A boom in the construction industry created unprecedented demand for the Target Group which specialises in digger, dumper and access platform hire across Colchester and Ipswich, London and Kent. To fund new dumpers, tippers and excavators, Target Group turned to the Metro Bank at Colchester to help finance the equipment their customers urgently needed. Each of Metro Bank’s 77 stores has a local director who specialises in supporting their local businesses and SME communities. “We were able to pull the asset financing together for Target in just a matter of weeks,” explains Colchester Metro Bank’s local director Chris Morgan. “Target was pleased with the speed at which…
Author: sme-admin
A Dorset team of social entrepreneurs have launched an ambitious start-up which is turning plastic waste into building materials, and empowering communities in developing countries to do the same. Wimborne-based Greenbrick Workshops was founded by Ben Gibbons, and soon joined by co-founder Connor Winter, after the Covid-19 pandemic forced them to return to the UK from Nepal, where they had been working with rural communities to reduce the damage caused by plastic pollution. After catching the last flight back from Nepal before the borders closed in March 2020, they began setting up a plastic recycling workshop that would enable them to…
Xero, the global small business platform, today announced a major milestone in the growth of the Xero ecosystem, with more than 1000 certified apps connected to Xero. Ten years after Xero certified its first third-party app, over 2.7 million subscribers now have access to a thriving ecosystem of more than 1000 apps and 300 connections to banks and financial services partners. This breadth of offerings enables small businesses and advisors to customise their unique workflows along with their Xero subscription. The milestone comes at an important time for small business. Never have digital tools been more important than during the economic conditions…
Allica Bank has appointed three Business Development Managers to further drive its broker distribution channel. The appointments coincide with a decision to further increase its commercial mortgage maximum loan size from £3 million to £5 million following feedback and requests from brokers. Allica’s maximum asset finance loan has also been increased from £250,000 to £500,000. The bank says it has a joint mission with brokers to help more SMEs gain access to the finance they need to grow, and this is part of an ongoing journey to expand its broker operations in the UK. Having been in the banking and finance sector for 14 years, Arshad Miah joins Allica to manage its asset finance broker relationships in the Midlands and East Anglia regions. With recent experience of a…
Brexit is undoubtedly causing more SMEs to expand their importing and exporting horizons which is good news for the UK economy. However, this potentially provides a problem for time starved business owners who will have to deal with an increasing range of foreign currencies. Alternative lender Just Cashflow has been quick to anticipate this and formed a partnership with Infinity International Ltd, a leading provider of FX services in the UK. The services, that are now available for Just Cashflow customers, have been developed for SMEs that are currently supplying too and buying from overseas territories, providing a means to…
As leading BAME fostering agency Banya celebrates its 25th anniversary, the team is appealing for more foster carers to come forward – the need post pandemic is greater than ever. Set up in South London in 1996 by Nyasha Gwatidzo and her late husband Dr Paul Soper, Banya’s directors are all black women and 98% of the staff are also female. Nyasha explained: “Here at Banya we pride ourselves on supporting our foster carers through their fostering journey, whether they are new to fostering or more experienced. As a result, we are on average ten times more successful when it…
Female entrepreneurs are hit harder by the pandemic, here’s what they’re doing about it. It’s been well documented that Covid-19 has disproportionately affected women’s careers. Data shows that during the pandemic, women were more likely to be furloughed, have spent significantly less time working from home, and have spent more time on unpaid childcare and housework. But what about the state of female entrepreneurship? While the percentage of women-owned businesses in the UK grew from 17% in 2016 to just over 32% in 2020, women are more likely to run businesses in areas harder hit by the pandemic, like wellness…
Salim Somjee, Head of Private Equity at Cripps Pemberton Greenish talks to SME Today about why Private Equity-backed businesses shouldn’t shy away from Mergers & Acquisitions in new sectors… Private equity firms have been key in driving Mergers & Acquisitions activity over the last 10 years, for various reasons; they have been able to offer healthy multiples they quite often come to the table as cash buyers While the process when selling to trade is involved, a sale to private equity can be even more complex, but that is not, in itself, a bad thing. Private Equity transactions are more…
Channel Factory, the global brand suitability and ad performance platform for YouTube, has announced the results of recent research into inclusive advertising practices on YouTube. It has looked at the diverse range of languages spoken in the UK and consumer sentiment towards English-only advertising practices, which shows a real need for marketers to be more diverse and inclusive in their advertising campaigns. The study has revealed that 81% of respondents live in bi-lingual homes, while 18% state English is not their native language. A further 29% speak at least one other language in addition to English in their home. In…
Redundancy has always been a driver for entrepreneurialism. Of course, it can be a devastating personal experience which suddenly fills life with uncertainties, but after recovering from the initial shock, for many, it’s a great time to step back and re-evaluate life and career. And that often leads to people finally fulfilling some lifelong dreams, including leaving the rat race behind and starting up their own company & being their own boss. That’s exactly what happened to Ben Veal, founder of the boutique communications consultancy, ‘Second Mountain Communications’. Born out of Covid redundancy, Second Mountain Communications specialise in supporting and…