matchmaking service for small businesses

Small businesses struggling to access finance from big banks will be matched with alternative finance options, under a new government scheme.

Image credit: Ken Teegardin (Flickr) under Creative Commons

From the 1st November 2016 9 of the UK’s biggest banks will pass on the details of small businesses they have rejected for finance to three finance platforms - Funding Xchange, Business Finance Compared and Funding Options.

Update: Alternative Business Funding Ltd. added to the list of designated finance platforms on 1 November 2017.

These platforms will then share these details with alternative finance providers and go on to facilitate a conversation between the business and any provider who expresses an interest in supplying finance to them.

These new rules make it easier for businesses to access finance when they have been turned down by traditional lenders.

RBS, Lloyds, HSBC, Barclays, Santander, Clydesdale and Yorkshire Bank, Bank of Ireland, Danske Bank and First Trust Bank, will all have to offer access to these finance platforms, with small business having to give their permission before their details are shared.

From:

HM Treasury and The Rt Hon Philip Hammond MP

Published:

1 November 2016

Last updated:

1 November 2017, see all updates

Grants of £6,800 per hectare available to Farmers

The two-month countdown has begun for the Countryside Stewardship Woodland Creation Grant.

Copyright John Woracker

Farmers, foresters and landowners are today being encouraged to plan ahead for the next round of funding for woodland creation, which opens for applications in just two months.

From 2 January 2018, landowners can apply for up to £6,800 per hectare to plant and protect more trees under the Countryside Stewardship Woodland Creation Grant – a scheme to help landowners make the most of their land and reap the benefits of woodland creation.

Not only do woodlands help to protect wildlife, improve water quality and manage flood risk, they also offer landowners an alternative source of income, help to boost timber production, and bring economic growth to rural areas.

Richard Greenhous, Forest Services Director for the Forestry Commission, said:

By investing in tree planting now, landowners can both benefit financially and help to secure a brighter future for our environment.

I would encourage landowners to talk to their local Woodland Officer and start planning now before the scheme opens for applications to be submitted in January.

We have made guidance available much earlier this year and brought in a number of improvements to the scheme – and our Forestry Commission teams are on hand to provide advice and support throughout the process.

The Woodland Creation Grant is open to all land managers, and successful applicants will receive a two-year capital grant, alongside an opportunity to apply for annual maintenance payments for ten years.

Guidance and application forms for the scheme were made available in September to give potential applicants more time to develop their plans, and a number of improvements have been made this year to make it easier to apply.

Applicants can contact the Forestry Commission for further advice and assistance.

Alongside the Woodland Creation Grant, landowners can also apply for the Woodland Creation Planning Grant to help with planning and proposals, as well as the Woodland Carbon Fund – a scheme designed to encourage large-scale planting and reduce our carbon footprint.

The Forestry Commission has appointed a new team of specialised woodland creation officers to assist landowners through the application process for large scale projects.

More information on the funding options available is on the Forestry Commission website.

Funding available for replacing fishing vessel engines

Through the European Maritime and Fisheries Fund (EMFF) funding is now available in England towards replacing of engines on fishing vessels.

copyright john woracker

The Marine Management Organisation (MMO) has made a number of changes to the EMFF scheme to make sure it continues to provide maximum possible benefit to the fishing sector and associated communities. This includes gathering feedback from the fishing industry and representative bodies as to where financial assistance would be of most use.

A significant development is that funding is now available towards the replacement of engines on fishing vessels. Other changes include to some funding thresholds. Full details are available on the MMO website.

Michelle Willis, MMO Chief Finance Officer, said:

“We are committed to ensuring that the EMFF scheme meets the needs of the people it is designed to serve and we regularly use stakeholder feedback to refine and improve the scheme. These changes are further evidence of that commitment.

“The changes we have made will allow fishermen to apply for funding to upgrade their engines, which will improve reliability, reduce running costs, provide safety benefits and also reduce the impact on the environment. The amendments to increase funding thresholds in a number of areas should also help strengthen the fisheries sector and be of significant benefit to the industry as a whole.

“I would urge people to visit the MMO website to learn about the changes, see if they can now benefit from EMFF funding and submit an application or expression of interest to us.”

From:

Marine Management Organisation

Part of:

Marine fisheries

Published:

30 October 2017

small businesses can now access government-backed export finance

UK government ramps up support for SME trade

International Trade Secretary Liam Fox has announced that small businesses can now access government-backed export finance directly from their banks, boosting UK trade.

UK Export Finance (UKEF), the UK’s export credit agency, is on Monday 16 October launching a new partnership with 5 major high street banks allowing smaller businesses to access millions of pounds in government-backed trade finance directly from their bank in seconds.

UKEF, as part of the Department for International Trade, provides financial support to help UK companies sell to international customers. This new partnership with Barclays, HSBC, Lloyds, RBS/NatWest and Santander, announced by Liam Fox in July, comes as the Board of Trade met for the first time last week (12 October).

For the first time companies which supply exporters can now access UKEF-backed finance, helping them become part of major export contracts and spreading the benefits of trade to small and medium-sized enterprises (SMEs) across the UK.

From:

UK Export Finance, Department for International Trade, and The Rt Hon Liam Fox MP

Part of:

Exports and inward investment

Published:

16 October 2017

Full article

Plastic Bag usage down by 83 percent

Since its introduction, the 5p plastic bag charge has reduced use by over nine billion bags – enough to wrap around the world more than 100 times. 

Money raised from the charge has generated £95 million for good causes.

Samantha Harding, litter programme director at the Campaign to Protect Rural England (CPRE), reflected on the latest statistics:

“It is fantastic to see that the huge reduction in bag use has been sustained since the scheme was introduced over 18 months ago. Over time, it will have a positive effect on the disastrous plastic pollution in our seas and countryside, and it proves that the public support environmental incentives.”

From:

Department for Environment, Food & Rural Affairs and The Rt Hon Michael Gove MP

Part of:

Environmental quality, Waste and recycling, and Marine environment

Published:

21 July 2017