Funding Options announces new leadership to drive future growth

Finance marketplace Funding Options has appointed Simon Cureton as the company’s interim chief executive officer (CEO) to lead a growth strategy that includes international expansion. The strategy will build on the company’s innovations around Open Banking and its recent expansion into the Netherlands. Cureton, who was previously commercial director, will be implementing a new organisational structure for the business. He succeeds Conrad Ford, the founder of Funding Options, who stepped down from the CEO role last month.

Funding Options announces new leadership to drive future growth

Oct 15, 2019

Finance marketplace Funding Options has appointed Simon Cureton as the company’s interim chief executive officer (CEO) to lead a growth strategy that includes international expansion. The strategy will build on the company’s innovations around Open Banking and its recent expansion into the Netherlands. Cureton, who was previously commercial director, will be implementing a new organisational structure for the business. He succeeds Conrad Ford, the founder of Funding Options, who stepped down from the CEO role last month.

Cash is king for UK SMEs ahead of Brexit

UK businesses are keeping cash close at hand and limiting their use of business savings accounts, according to new research. Hampshire Trust Bank’s latest annual SME Savings Tracker found that businesses have been reducing their savings balances over the past two years as they look to pay off outstanding loans and pursue investments. Factors behind the trend include Brexit, with the UK’s current departure deadline of October 31 fast approaching. More than one-third of businesses expressed concern about the impact of Brexit on the short-term economic outlook.

Cash is king for UK SMEs ahead of Brexit

Oct 12, 2019

UK businesses are keeping cash close at hand and limiting their use of business savings accounts, according to new research. Hampshire Trust Bank’s latest annual SME Savings Tracker found that businesses have been reducing their savings balances over the past two years as they look to pay off outstanding loans and pursue investments. Factors behind the trend include Brexit, with the UK’s current departure deadline of October 31 fast approaching. More than one-third of businesses expressed concern about the impact of Brexit on the short-term economic outlook.

UK SMEs overcome Brexit fears to seek investment for growth

The growth and funding ambitions of SMEs have strengthened during 2019 despite the uncertainty caused by Brexit negotiations. According to a new report from asset-based lender Independent Growth Finance (IGF), almost three quarters (73%) of small businesses expect to see their revenues climb in the next 12 months, compared to 69% at the start of the year. Of those seeking to raise funds to support growth, the average amount has also increased by 22%, or £250,000. Three-quarters of businesses are looking to secure funds in the next 12 months. On average, they are seeking £1.4 million.

UK SMEs overcome Brexit fears to seek investment for growth

Oct 11, 2019

The growth and funding ambitions of SMEs have strengthened during 2019 despite the uncertainty caused by Brexit negotiations. According to a new report from asset-based lender Independent Growth Finance (IGF), almost three quarters (73%) of small businesses expect to see their revenues climb in the next 12 months, compared to 69% at the start of the year. Of those seeking to raise funds to support growth, the average amount has also increased by 22%, or £250,000. Three-quarters of businesses are looking to secure funds in the next 12 months. On average, they are seeking £1.4 million.

EMEA

Bibby Financial Services research finds political uncertainty and rising costs causing global concern for SMEs

Oct 09, 2019

Political uncertainty and rising raw material costs are causing increasing concern among SMEs throughout the world, according to new research. The Global Business Monitor study from Bibby Financial Services, in partnership with trade credit insurance provider Euler Hermes, surveyed more than 2,300 SMEs in 13 countries across Asia, Europe and North America. It found two-fifths of businesses (42%) believe rising costs and overheads are their greatest challenge. Government regulation (36%) and cashflow (32%) were also cited in the top three concerns in 2019. When asked for the top three threats to global economic growth in 2019, political uncertainty in the U.S. (42%), Brexit (35%) and rising raw material costs (23%) featured most frequently. Despite concerns about the knock-on effects of global uncertainty, almost half of companies say they believe their business performance will improve in the next 12 months.

Americas

Three new appointments at Wells Fargo Equipment Finance

Oct 07, 2019

Wells Fargo Equipment Finance, a division of Wells Fargo Commercial Capital (WFCC), has named three new leaders in its specialty industries business unit. National sales executive John Crum (pictured above) is to head up the commercial vehicle group, a provider of loan and lease financing options to the commercial vehicle industry, which includes trucks, semi-trailers, specialty vehicles, buses and motor coaches, as well as dealer finance programs.

Asia Pacific

Identifying growth opportunities in Islamic finance

Feb 08, 2019

Islamic finance is available in 56 countries through 1,389 sharia-compliant companies that have total assets under management (AUM) of $2.4 trillion, according to a 2018 study from Thomson Reuters. In 2017, the market grew 11% and while recent expansion has been slower in core markets, such as the Gulf and south-east Asia, future trends are significantly rosier.