Government-backed bank fuels entrepreneurship for unemployed Brits Business The British Business Bank has announced that nearly £150m in loans has been handed to unemployed people to help them start their own businesses since 2012. The figure represents 22 per cent of all finance issued through the government-backed ‘start-up loans’ programme, which aims to support entrepreneurs who may find it difficult to secure funding [...]
Allica Bank makes major acquisition as it eyes £1bn SME lending goal Banking Allica Bank is set to announce a fresh acquisition as the firm looks to beef up its lending capacity for small businesses, City AM can reveal. The digital bank has snapped up London-based fintech Kriya, which specialises in embedded finance and business loans. The takeover, set to be announced on Wednesday, marks Allica’s third acquisition [...]
Government accused of ignoring SMEs as firms fight for survival Business Three in five small business owners feel ignored by the government, according to a fresh survey, an increasing amount firms raise the alarm on their fight to stay afloat. Small and medium-sized enterprises (SMEs) are calling on Westminster to take further measures to support businesses after 57 per cent fear for their survival in the [...]
Simply: Fintech SME lender expands loan book as firms turn to debt finance June 17, 2025 Simply Asset Finance notched a record loan total in the last year as firms turned to debt financing to fuel their expansion plans. The UK lender to small- and medium-sized enterprises topped £1.75bn in the total cumulative value of all loans they’ve approved and funded after the firm’s loan book expanded by £505m over 2024. [...]
Collapse in SME employment growth serves as ‘wake up’ call to government November 12, 2024 Employment growth within Britain’s small and medium sized enterprises (SMEs) fell drastically last month in the run-up to the Autumn Budget’s tax hike on employers. The rolling six-month average for annual employment growth in full-time jobs dropped to 2.6 per cent at the end October, down from 12.8 per cent in October of last year, [...]