Pay Day Loans

Pay day loans, although being a solution to short term debt problems are clearly a quick fix and can do more harm than good in the long run. With these loans interest rates incurred can be very high and if not managed correctly can make the situation worse long term, with many taking out further loans to cover the initial loan.  This can spiral out of control and you can find yourself in worse debt then when you started.

If a pay day loan seems like too big a risk for you or the bank won’t give your company finance then contact Beer & young for a chat about private investment, how it works and how it could work for you.

Small businesses are the way forward

We have recently been informed that we are in a double dip recession. If we would like this to change then we need to find a solution and a way out of the slump the economy has been in for the last few years.

The governments priority is about reducing debt, so can’t afford to invest in public infrastructure, thus growth is stagnant. The same worry about debt has had an impact on consumer spending. 

Outside of the public sector, 97% of all UK workers are employed by small businesses; however, they are currently being very cautious, not taking risks or moving forward with growth and development. We therefore require these companies to keep people in jobs and boost the economy

Part of the worry for small businesses is funding. Banks are not as prepared to lend as they used to be. You have always needed to be in a very strong position to get a bank interested and now this has become even more difficult.

If your company is struggling financially and could do with a cash injection, call Beer & Young today and discuss business angel investments.

Approximately 3,000 jobs lost as Clinton Cards goes into administration

Having been in business since 1968 and trading as the largest UK retailer across its two retail brands, (Clinton Cards and Birthdays) it has come as a huge blow for almost 3000 employees to lose their jobs as the company goes into administration. The group has suffered due to bad trading conditions causing significant cash flow problems.

Half of Clinton Cards retail estate will close, taking the number of stores from 784 to 350 Nationwide. The closures include 200 Clinton Card stores with the remainder being all of the Birthdays stores.

With Moonpig doing so well it may be fair to say that Clintons and Birthdays need to reconnect with the great British card buying public.

The key to business survival, particularly when running a small business is to stay in control and to talk to a professional within the industry. Call Beer and Young today for a free, no obligation chat.

Beer & Young MD Visits 10 Downing Street for the Second Time This Year

For the second time this year Beer & Young managing Director, Nick Young will be attending a breakfast meeting at 10 Downing Street to discuss the role and expansion of business angels.

The topics due to be covered in the meeting are attracting potential angels, how existing angels can act as figureheads to encourage others to consider angel investing, which groups should be involved and which focus to take. Other material covered will be the Business Angel Co-Investment Fund, the Enterprise Investment Scheme and Venture Capital Trusts, the Seed Enterprise Investment Scheme, the Business Coaching for Growth Campaign and the Get Mentoring Initiative.

Nick is a key player within the industry and has many years’ experience and a vast knowledge in the field. If you are considering the Business Angel route for your business then call Beer & Young today.

SME Bank Lending Crisis

Banks are the main finance source for SME’s in the UK. Recent reports show negative growth for SME’s which has not been helped by banks not lending so freely, thus making it harder to acquire traditional sources of working capital.

It appears that banks were over £1 billion short of the agreed target to lend to SME’s when the government scheme was launched over a year ago.

Due to the global framework governing the regulation of bank capital in the current financial crisis also known as Basel III, which encourages and promotes banks to lend to fewer high risk businesses and instead hold onto the capital. SME’s are considered high risk ventures which will ultimately hinder their growth and expansion.

If your business in struggling financially and can’t get backing from your bank, why not talk to Beer & Young. Beer & Young offer free, no obligation advice as well as having the largest network of active business angels in the UK. Call today- help could be at hand.

Rising Business Failures

Recent figures show that over 5000 businesses have gone bust so far this year. There has been a 4.3% rise on liquidations during the first quarter of 2012 on the same period in 2011.4,303 liquidations have occurred during the time period.

There has also been a 1.8% rise on the period Q1 2011 to Q1 2012. 1,290 other forms of insolvencies have also taken place. These include administrations, receiverships and CVA’s.

It is believed by professionals in the industry that the situation will get worse before it gets better, with many more businesses failing in 2012.

Many companies are only currently surviving due to creditors propping them up. An increase of pressure from creditors could push companies over the edge and bring to light the number of companies that are truly struggling with debt.

Don’t let your company fail. Contact Beer & Young to discuss business angel investment and see if you can save your business!

More than 1860 businesses failed a month in Q1 of 2012

Figures released this week show that over 60 businesses a day went bust in the first quarter of this year, the highest number recorded since 2009. There was a 5% rise from the same quarter of 2011. Failures in the business services sector contributed to 25% of the total company insolvencies.

The biggest sufferers were reported as design agencies, PR agencies, IT consultancies and equipment and manufacturer suppliers with hospitality, tourism and construction not far behind. The construction sector made up for 10% of al insolvencies and the property services sector for 7%.

If your business is having financial difficulties, don’t wait until you are insolvent before dealing with the problem… call Beer & Young today!