The Analysis News & Opinions
Opinion
SMEs waiting on £300m in ‘emergency’ support
Pressure maintained for EU data sharing
The lending industry has continued to express its support for ongoing data-sharing rights with the European Union (EU) after Brexit, amidst fears that any significant restrictions could cause serious economic and security damage. Responding to a speech by prime minister
New research from Gerald Eve indicates that more than 40% of the £175m allocated to councils for the year ending March 2018 from the chancellor’s £300m business- rates hardship fund is yet to be passed on to local firms. It is hard to believe that small firms, hit
by last year’s bruising business-rates revaluation, are still waiting on what, at the time, was dubbed ‘emergency’ support, more than 300 days , or 10 months, after it was launched. The small-business community was,
indeed, facing an emergency this time last year. Our research showed that one in five firms, facing business-rates hikes, were planning to sell, hand-on, or close their business. The chancellor’s £300m hardship fund offered a small glimmer of hope. For many, it has proven to be false hope. What is really shocking is that, in some
cases, you have the government confirming that councils have emergency schemes in place, when, in reality, they have given out very little, and, in some instances, none of the money they have been allocated. And, of course, there is no guarantee that
councils will have access to their year-one allocation once we get to April. Many local authorities have designed
great emergency-support schemes, enabling them to get their allocation to firms that need it months ago. If some can get their houses in order, then they all can.
Mike Cherry National chairman, The Federation of Small Businesses
Theresa May, UK Finance’s chief executive Stephen Jones said: “The prime minister’s commitment to maintaining a close security partnership with the EU will be welcomed by businesses on both sides of the Channel, who want to see close co-operation against all forms of economic crime continue, as well as against the drug and people-trafficking and terrorist activities to which such crime is often linked. “It is also encouraging to see proposals
for bespoke arrangements to allow the continued sharing of data that is central to our security and economic prosperity. “Every day, millions of consumers and
businesses in Europe rely on the free flow of personal data across borders. It is crucial an agreement is reached that allows these vital
data transfers to continue, along with high standards of data protection. “This should form part of a broader
Free Trade Agreement involving close regulatory and supervisory cooperation, and reflecting the EU and UK’s unique trading relationship.”
New financial services debate is scheduled
At a time when established lenders and new market entrants are facing intense social and regulatory change, the consumer-lending market is to be up for discussion, as senior figures gather to consider how to move forward with customers at the heart of everything they do. Amidst a ground-shift in the technologies
available to lenders, as well as the attitudes and requirements of customers, the lending industry has begun to see an emergence of renewed dynamism, with new entrants bringing a fresh approach and significant modern ideas. Stephen Kiely, editor of CCRMagazine, said: “After a period of consolidation
6
www.CCRMagazine.com
amongst lenders, it has been remarkable to see how a new wave of modern companies are now coming to market. “They often have a very different
approach, and set of understandings, compared to the existing players. So we will consider how all these new players are impacting upon the market, where they are meeting the needs and expectations of modern customers, and how the existing players can respond.”
March 2018
Page 1 |
Page 2 |
Page 3 |
Page 4 |
Page 5 |
Page 6 |
Page 7 |
Page 8 |
Page 9 |
Page 10 |
Page 11 |
Page 12 |
Page 13 |
Page 14 |
Page 15 |
Page 16 |
Page 17 |
Page 18 |
Page 19 |
Page 20 |
Page 21 |
Page 22 |
Page 23 |
Page 24 |
Page 25 |
Page 26 |
Page 27 |
Page 28 |
Page 29 |
Page 30 |
Page 31 |
Page 32 |
Page 33 |
Page 34 |
Page 35 |
Page 36 |
Page 37 |
Page 38 |
Page 39 |
Page 40 |
Page 41 |
Page 42 |
Page 43 |
Page 44 |
Page 45 |
Page 46 |
Page 47 |
Page 48 |
Page 49 |
Page 50 |
Page 51 |
Page 52