The Department for Business, Energy and Industrial Strategy (BEIS) has announced it has £2 million to invest in trials of innovative ways to improve productivity for micro and small and medium-sized businesses (SMEs). Read more
New data from Thomson Reuters reveals that mergers and acquisitions (M&A) activity involving UK firms has remained strong over the past two years, despite concerns raised previously that Britain’s vote to leave the European Union (EU) would have a negative impact on deal-making. Read more
Businesses need to be aware of important new rules governing mergers and acquisitions (M&A) which took effect on Monday 11 June 2018. Read more
A Swiss-based luxury goods group has acquired an emerging British online retailer in recent days, it has emerged. Read more
Recent research has found that 80 per cent of businesses fail within the first five years, and of those that survive, 80 per cent will fail within the next five. However, much of this could be changed if new businesses were given better access to the funding they need for their growth plans. Read more
Although many small firms have concerns over accessing funding for growth or development plans, many are unaware that there are a number of Government grants they could use to further their plans. Read more
Barclays and the NatWest have launched funds specifically aimed at small and medium-sized businesses, with Barclays channelling cash towards the Northern Powerhouse and NatWest aiming to support manufacturing and technology sectors.
Barclays is launching a £500 million growth fund for small and medium-sized enterprises (SMEs) in the north of England, dubbed the ‘Northern Powerhouse’. The fund is part of the bank’s commitment to support the Government initiative, which aims to boost manufacturing, transport and logistics firms.
The fund also aims to help established businesses with ambitious growth plans, start-ups with high growth potential, firms with early-stage equity funding and businesses focusing on innovation, research and development (R&D) and technology.
Under the Northern Powerhouse Growth Fund, businesses can get an overdraft of up to £250,000, without the need for property security, for transport, business services, wholesales and manufacturing firms.
They can also get up to £25,000 of term lending fee-free, plus up to £100,000 of lending, without the need for tangible security and cash flow funding, to invest in acquisitions and organic business growth. As well as this, they can get lending and debt support, which can be combined with the Northern Powerhouse Investment Fund.
Meanwhile, NatWest has said it will lend an extra £1 billion to SMEs over the next year, which is specifically designed to help UK businesses invest in technology, R&D and manufacturing.
As a spokeswoman for the bank said, SMEs are the lifeblood of the economy and there is more that can be done to support them. She added that the bank has changed its culture since the financial crisis and is “deeply sorry” for the way restructuring banks mistreated thousands of small firms.
Nigel Fry, General Practice Partner at Milsted Langdon, said: “SMEs need to keep up to speed with the latest news in relation to growth funds – as you never know when a new fund might pop-up that’s perfect for your business.”
For more information about how Milsted Langdon can help, please contact us.
The competition watchdog has ordered a US electrical company to sell its UK division due to competition concerns following a recent acquisition. Read more
Mergers and acquisitions (M&A) activity in the UK’s manufacturing sector remains strong despite a slight slowdown in manufacturing production and trade, recent reports have revealed. Read more
‘Fintech’ platforms are helping small businesses in the UK to raise the funding they need to drive growth, and this is disrupting the traditional banking system. Read more