CONTENTS The business finance bible
Group Editor John Woods
Publishing Director Sylvia Waycot
e-mail:
swaycot@moneyfacts.co.uk
Editor Lee Tillcock Tel: 01603 476651
e-mail:
ltillcock@moneyfacts.co.uk
Research Manager Suzanne Greener Tel: 01603 476603
sgreener@moneyfacts.co.uk
Mortgage specialist Darren Cook Tel: 01603 476205
e-mail:
dcook@moneyfacts.co.uk
Personal finance specialist Samantha Owens BA (Hons) Tel: 01603 476307
e-mail:
sowens@moneyfacts.co.uk
Savings specialist Rachel Thrussell Tel: 01603 476402
e-mail:
rthrussell@moneyfacts.co.uk
Client Account Manager Lisa Maxwell Tel: 01603 476855
e-mail:
lmaxwell@moneyfacts.co.uk Marketing
Deborah Howard Tel: 01603 476526
e-mail:
marketing@moneyfacts.co.uk
Graphic Design Adrian Pearce, Marcus Balls e-mail:
graphics@moneyfacts.co.uk
Subscriptions Joanne Green Tel: 01603 476100
e-mail:
subscriptions@moneyfacts.co.uk Cover: Marcus Balls Print: Swallowtail Print
ISSN 1355-8218
MONEYFACTS and MONEY£ACTS are Registered Trade Marks
©MONEYFACTS GROUP plc 2012
Figures compiled on 17 February 2012 Next issue will be published on 20 March 2012
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Graham Toy, Head of Commercial Lending, Norwich & Peterborough BS
Damian McGann, Head of Business Development, Santander Corporate
Kate Sharp, CEO,
Asset Based Finance Association Positive year ahead 18
Steven Nicholas, Chief Executive, Tiuta plc, provides an update on the bridging finance sector and explains why the current growth in bridging is sustainable
News 4, 5, 6, 7 Taking the Pulse; Targets met and further boost; Warning over SME preparedness; Government’s support in spotlight
Hidden strength 8 Peter Ewen, Managing Director at Venture Finance, soon to be ABN AMRO Commercial Finance, urges businesses to grow their way to recovery
Avoiding the truth 11
Phil McCabe, Media and PR Officer, Forum of Private Business, explains why the recent Tax Tribunal ruling on HMRC’s unfair levying of small business late payment fines raised concerns that SMEs are being treated as a cash cow
Losing control of cashflow? 13 Kevin Downton, Client Development Manager at Pulse Credit Solutions, argues that, despite perceptions to the contrary, outsourcing can actually improve the management of cash flow within a business
Dealing with change 15 Noel Meredith, Director at United Trust Bank, discusses the changing role of intermediaries within the development finance sector
Industry insiders 16
Gavin Diamond, Finance Director, Cheval Bridging Finance
7 5
MARCH 2012
Issue No 199 8
Assisted Loans. . . . . . . . . . . . . . . . . . . . . . . 94 Bridging Finance . . . . . . . . . . . . . . . . . . . . . 46 Bridging Finance Bulletin . . . . . . . . . . . . . . . 45 Business Account Selection Quick Guide. . . . . . . . . . . . . . . . . . . . . . . . 19 Business Angel Capital. . . . . . . . . . . . . . . . 102 Business Banking Bulletin. . . . . . . . . . . . . . . 54 Business Charge Cards. . . . . . . . . . . . . . . . . 76 Business Credit Cards . . . . . . . . . . . . . . . . . 84 Business Current/Cheque Account Tariffs. . . . . . . . . . . . . . . . . . . . . . 68 Business Loans . . . . . . . . . . . . . . . . . . . . . . 50 Buy-to-let Bulletin . . . . . . . . . . . . . . . . . . . . 20 Buy-to-let Mortgages . . . . . . . . . . . . . . . . . . 26 Buy-to-let Mortgages Flexible Options. . . . . . 34 Charity & Club Accounts . . . . . . . . . . . . . . . 60 Client Accounts . . . . . . . . . . . . . . . . . . . . . . 58 Commercial Mortgages . . . . . . . . . . . . . . . . 38 Commercial Mortgage Bulletin . . . . . . . . . . . 36 Company and Firm Accounts . . . . . . . . . . . . 55 Consultancy and Training Assistance . . . . . . . 92 Data Page . . . . . . . . . . . . . . . . . . . . . . . . . 122 Exchange and Interest Rates . . . . . . . . . . . . 122 Factoring. . . . . . . . . . . . . . . . . . . . . . . . . . 108 Fixed Rate Accounts. . . . . . . . . . . . . . . . . . . 65 Foreign Money Transmission . . . . . . . . . . . . 67 Grants . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 86 Inflation. . . . . . . . . . . . . . . . . . . . . . . . . . . 122 Introductory Offers on Business Banking . . . . . . . . . . . . . . . . . 54 Invoice Discounting . . . . . . . . . . . . . . . . . . 111 Islamic Buy-to-let Home Finance . . . . . . . . . 21 Leasing and Asset Finance . . . . . . . . . . . . . 114 LIBOR . . . . . . . . . . . . . . . . . . . . . . . . . . . . 122 Money Market Deposits . . . . . . . . . . . . . . . . 54 OECD Export Credit Rates . . . . . . . . . . . . . . 122 Offshore Company and Firm Accounts. . . . . . . . . . . . . . . . . . . 64 Online Business Banking . . . . . . . . . . . . . . . 72 Pension Fund
Managers’ Accounts. . . . . . . . . . . . . . . . . . 63
Procuration/Commission on Bridging Finance . . . . . . . . . . . . . . . . . . 45 on Business Accounts. . . . . . . . . . . . . . . . . 54 on Buy-to-let Mortgages . . . . . . . . . . . . . . . 25 on Commercial Mortgages . . . . . . . . . . . . . 36 on Leasing & Asset Finance . . . . . . . . . . . 118
Purchasing Cards . . . . . . . . . . . . . . . . . . . . . 80 Rent Index and Average Yields . . . . . . . . . . . 35 Sale and Leaseback . . . . . . . . . . . . . . . . . . 114 Sources of Help for Businesses/Stop Press . 121 User Guide for Business Deposit Accounts. . . 54 Venture Capital. . . . . . . . . . . . . . . . . . . . . . . 96
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