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Britain’s longest serving independent local TV station, Northants TV, which produces news, sports and feature programmes for local cable television, is expanding its operation to broadcast on terrestrial television, thanks to additional funding from Cattles Invoice Finance.
18/04/2002
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Small businesses are becoming increasingly worried about the tax system. More than one in five small business owners (22%) say that the tax system is the biggest concern to their business - a rise of 6% since July 2001. The findings come from the latest Alliance & Leicester Business Barometer report.
This tax system worry is lower among businesses in the Ј500,000-plus turnover category (15%). However, they appear most concerned about late payments - the number citing this as their leading burden is up from 34% last year to 45%.
18/04/2002
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Leading business finance firm Bibby Factors Bedford are celebrating their continued success by becoming a limited company.
The firm started life when parent company Bibby Line Group acquired Berrisford Factors operating from Borehamwood in 1990. Their success mean that in 1998 a satellite client service office was set up in Bedford to support clients in the local area.
The Bedford office has grown rapidly in recent years and has a rapidly expanding client base. This success has resulted in Bibby Factors Bedford becoming its own limited company.
17/04/2002
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Leading provider of invoice discounting and asset-based lending Lloyds TSB Commercial Finance has recently backed Stokes Forgings Limited in the acquisition of Dudley Die Forgings Limited. Stokes Forgings Limited is one of the largest suppliers of forgings to the UK automotive industry and is based on the outskirts of Walsall in the West Midlands.
Stokes Forgings approached Simon Woodcock, Senior Regional Manager of Lloyds TSB Commercial Finance in Birmingham, to help finance the acquisition and provide the requisite working capital to fund its strong growth plans.
16/04/2002
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Fresh statistics for 2001 have shown a 12% growth for worldwide factoring according to the latest figured for the industry just released by Factors Chain International (FCI).
15/04/2002
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Vladimir Putin, Russian president, yesterday lent his weight to calls for lower taxes and reductions in red tape in an effort to boost the country's poorly-developed small business sector.
He told a session of the State Council, an advisory body of regional leaders, entrepreneurs regularly had to face inspections from para-government bodies that amounted to little more than "legalised bribery".
12/04/2002
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The NIKoil Financial Corporation has just announced the establishment of a separate factoring company named "Operational Factoring Company NIKoil" in order to speed up its regional development programme.
Roman Ogonkov was appointed as General Manager and Mikhail Treyvish is to represent shareholder's interests. Mr Ogonkov commented that he hoped the move would “enforce the market development and our profits as well.”
12/04/2002
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The Small Industry Finance Corp, a state-agency set up specifically to help small and medium-sized enterprises has announced that following a loss of 47m bath in 2000, SIFC has recorded a profit in 2001.
The 1997 economic crisis has led many banks to clamp down on lending procedures in an effort to restrain the problems of non-performing loans. Yet the banks, with a risk-averse attitude, have led to many firms complaining of a cash crunch.
12/04/2002
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Nearly 440,000 (15%) of small businesses are now using on-line banking facilities according to figures released by the British Bankers’ Association (BBA).
End-year 2001 figures from the 10 largest banks offering small business banking facilities also show that:
12/04/2002
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Leading business finance firm Bibby Factors Scotland has opened its doors in Glasgow to provide cash flow solutions to small and medium-sized businesses throughout the country.
Bibby Factors Scotland was launched just over two years ago in Edinburgh to provide financial solutions, such as factoring and invoice discounting, to help firms improve their business finances. In that time, the company has expanded rapidly, recording a 300% increase in the value of factored turnover during 2001 and, as a result, plans to double staff numbers within the next two years.
09/04/2002
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The Mangalore-based ICICI group, which consolidated its in-house IT department to launch ICICI Infotech in 1999, is preparing to develop a new factoring software product.
ICICI Infotech has expanded from India to the United States, Singapore and Sri Lanka. What began as primarily a business-process outsourcing company has grown into software development, product, solutions and IT-enabled services. The number of employees is approaching 2000.
V. Srinivasan, MD and CEO, has said "We are…developing a product for value-at-risk calculation, factoring and retail lending.”
05/04/2002
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US service-sector activity suffered a minor setback last month but is still close to a 15-month high.
The Institute for Supply Management, formerly known as NAPM, yesterday said its index of non-manufacturing business activity for March fell to 57.3 from 58.7 in February, but the number is still the second-highest reading since November 2000.
05/04/2002
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Phase 3 of the Late Payment of Commercial Debts Act to be introduced in the autumn 2002, will allow large firms to charge interest on late payments of commercial debt. Research by CMRC found that only 14% of businesses, were aware of this. Professor Nick Wilson, director of CMRC, said: "Our survey shows that usage of the Late Payment Legislation by small firms has dropped 50% to 1 in 20 in the last 12 months. Whereas SMEs are reluctant to enforce the interest charge for fear of losing business, large firms will almost certainly make full use of the act."
05/04/2002
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Services activity has picked up to its strongest in a year as demand continues to strengthen and future business confidence has hit a sixteen-month high.
04/04/2002
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As the country slowly winds its way out of the protracted recession, small-and medium-sized enterprises (SMEs), the backbone of the economy, are still struggling to obtain financing.
Despite very high liquidity, commercial banks are still reluctant to increase loans to many small companies, which need capital for expansion.
During the crisis, an alternative financing business-factoring-has slowly picked up steam and is now a significant financing avenue for SMEs.
03/04/2002
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