Invoice Finance
Invoice Finance (IF) can be a vital product to ensure sufficient working capital for both day to day costs, as well as growth or acquisition ambitions. It can also be important to ensure overtrading doesn’t occur, after all cash is king! Invoice Finance, at present, is fundamental in order for businesses to ‘regrow’ revenue back to pre- covid levels and beyond. A misunderstood product in the market, Invoice Finance is used by some of the most well known and…
A Message From Nordens Chairman – Stand Up For Your Business
We are in lockdown, the days are short and it seems to continuously be raining….. but for the first time in what feels like forever, it feels like there is light at the end of the tunnel with announcements about vaccines, improved testing and economic forecasts. However, how are all of these positives going to help you and me as business owners. My first question is how long will the restrictions affect my business? If we look back at Lockdown 1,…
Another Furlough Extension Until March 2021
For the second time in a week, the Job Retention Scheme aka furlough has been extended. Workers across the United Kingdom will benefit from increased support with a five-month extension of the furlough scheme into Spring 2021. The funding is now also open to Scotland, Wales and Northern Ireland. The reasoning behind this sudden change? The Chancellor stated that although lockdown is only proposed until December 2nd 2020, the economics effects are much longer lasting for businesses and areas that…
Two More Government Updates That Could Benefit You
Loan Extensions The government has extended applications for its coronavirus business support loan schemes - Bounce Back Loan Scheme (BBLS), Coronavirus Business Interruption Loan Scheme (CBILS) and Coronavirus Large Business Interruption Loan Scheme (CLBILS) - until January 31st 2021, ahead of England entering a second lockdown on Thursday. Many of you may have already applied these loans and have spent the money you received. As we go in to a second lockdown, do you require more finance? Will what you…
Extended Furlough And All Government Updates
Following the Prime Ministers announcement on 31st October, people and businesses across the UK are being provided with additional financial support as part of the government’s plan for the next phase of its response to the coronavirus outbreak. These latest updates mean that many business up and down the country will have to close. The categories of businesses forced to close under the new restrictions are near-identical to those required to close following the initial announcement of ‘Stay at Home’…
How Do I Know What Finance Option Is Best For Me?
Taking on debt finance is not something that should be done without considering all your options available. With the number of lenders and lending products on the market, it can be a little overwhelming... that's where we come in to help. There are a lot of options! Often many people are not even aware of the full finance offering that is on the market and typically end up taking on finance that has not been designed for their particular needs.…
Latest Government Updates
Yesterday the government announced it will significantly increase the generosity and reach of its winter support schemes to ensure livelihoods and jobs across the UK continue to be protected in the difficult months to come, supporting jobs and helping to contain the virus. Job Support Scheme In recognition of the challenging times ahead, the Chancellor said he would be increasing support through the existing Job Support and self-employed schemes, and expanding business grants to support companies in high-alert level…
Working From Home Could Land You A Tax Bill
For the first few weeks of lockdown, millions of people were working with their laptops propped up on their kitchen tables. Once it became apparent that we would be working home for a long period of time, many chose to upgrade to a 'home office'. If you have spent the pandemic creating the ultimate home office, you are probably feeling pretty satisfied and comfortable. That satisfaction might dissipate somewhat when you try to sell your house, however — and…
Government Announces New Support Measures
The Government has announced a series of new financial support measures to help businesses or sectors that are forced to shut due to local or national lockdowns. Employees who work for UK firms forced to shut by law because of coronavirus restrictions are to get two-thirds of their wages paid for by the government. The scheme, announced by Rishi Sunak, begins on 1st November for six months, however, it will only apply to businesses told to close (local lockdowns) rather…
