Media

Hard winter for businesses forecast as rents arrears and debts trigger big increase in insolvencies

August 14, 2020
By
Hard winter for businesses forecast as rents arrears and debts trigger big increase in insolvencies

A steep rise in corporate insolvencies linked to the coronavirus pandemic is being predicted for this winter – and could start as early as October. New research from insolvency and restructuring trade body R3 indicates that lack of funds to pay their rent is likely to be the biggest cause of firms getting into...

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Two new joiners strengthen team at SWIG as demand for finance increases

August 4, 2020
By
SWIG-logo

Regional alternative finance lender South West Investment Group (SWIG) has made two appointments to its growing team while also saying farewell to Brian Steer, one of its longest-standing employees, who has retired. Nicki Kimberley has joined as start-up loans officer, a role that involves supporting applicants to the Start Up Loans scheme and helping...

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Profit warnings soar to 20-year high as Covid-19 crisis hits South West’s quoted firms

July 23, 2020
By
EY

The coronavirus pandemic has pushed up the number of profit warnings issued by South West listed businesses to a 20-year high, with those in the travel and leisure sector hardest hit. According to new figures from accountancy group EY, profit warnings soared by 73% year-on-year in the first half of 2020 to 26 – with 85%...

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Chancellor’s summer economic statement: National business reaction

July 8, 2020
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Chancellor’s summer economic statement: National business reaction

The CBI said Chancellor Rishi Sunak was “absolutely right” to prioritise jobs in his summer statement this afternoon. Director-general Dame Carolyn Fairbairn, pictured, said: “Flattening the daunting unemployment curve about to hit our country could not be more important. Joblessness scars lives and hits the young and most disadvantaged hardest.  “Today’s jobs plan is an...

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Chancellor’s summer economic statement: Regional business reaction

July 8, 2020
By
Chancellor’s summer economic statement: Regional business reaction

Measures to address the huge economic impact of the coronavirus pandemic announced this afternoon by Chancellor Rishi Sunak have been welcomed by Business West, the region’s largest business group. Matt Griffith, director of policy at Business West – which runs the Swindon & Wiltshire Initiative – described them as impressive but also added that...

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Chancellor’s summer economic statement: Key points . . .

July 8, 2020
By
Chancellor’s summer economic statement: Key points . . .

Chancellor Rishi Sunak is making his economic statement in the Commons. He said the government would do “all we can” to help prevent job losses in the wake of the coronavirus pandemic. The main points were:  Government will pay £1,000 to businesses for each furloughed employee they bring back and retain until January. Cut in...

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Gloom lifts slightly as survey shows marked bounce back in business confidence in South West

July 7, 2020
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Gloom lifts slightly as survey shows marked bounce back in business confidence in South West

Business confidence has bounced back stronger in the South West than any other part of the UK, according to a new survey – but many firms remain gloomy and one in 10 expects to stay closed due to the coronavirus pandemic. The monthly Business Barometer from Lloyds Bank Commercial Banking had shown a huge...

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Business West initiative selected to help UK food and drink firms bounce back by selling overseas

July 2, 2020
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Business West initiative selected to help UK food and drink firms bounce back by selling overseas

A coronavirus business bounce-back campaign to encourage UK food and drink producers to break into overseas markets is being spearheaded by the South West’s largest business organisation. Hampers full of British artisan food and drink are being sent all over the world as part of the Business West-led campaign, which was chosen by government...

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Finance hub launched to connect borrowers, lenders and investors – without the hard sell or jargon

June 25, 2020
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Finance hub launched to connect borrowers, lenders and investors – without the hard sell or jargon

An online service promising impartial financial advice for Swindon firms on funding options has been launched by Business West, the region’s largest business organisation. According to Business West, which runs the Swindon & Wiltshire Initiative, its Finance Hub will be free from confusing jargon or any hard sell, enabling businesses to decide what sort...

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Welcome for lockdown easing from business leaders – but they warn it alone will not save all firms

June 23, 2020
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Welcome for lockdown easing from business leaders – but they warn it alone will not save all firms

Business groups have cautiously backed the reduction of many coronavirus lockdown restrictions announced this afternoon by the Prime Minister. But they also warned that other measures to boost the economy were still needed to avoid widespread business failures and job losses.  In a major boost to the West of England’s vital tourism and hospitality...

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