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Bounce Back loans were a key plank in the government’s strategy for supporting SMEs through the Covid lockdown. Payment was deferred for a year, which for many seemed too far ahead to worry about. So how is it going? What Were Bounce Back Loans? So much has happened since the scheme began, that even if you have a loan, your memory of its terms could be slightly hazy. Briefly, the scheme went live on 4th May 2020, all

The perfect balance for any landlord is to ensure a regular, unbroken income for your property with a minimum of effort and hassle. And the best way of ensuring that is to keep any good tenants you already have. So, what can you do to make it a no-brainer for your great tenants to stay? 5 Ways of Keeping Good Tenants Make the property a home for the tenant. Tenants who see the property simply as meeting bare minimums

The liquidation of a company doesn’t always have to be a traumatic event. Ther are many reasons why a decision may be taken to close down a company, and as long as it has enough assets to pay all the creditors in full, this can be done in an orderly fashion through a solvent liquidation. However, occasionally this procedure goes wrong, and the liquidator is forced to convert the process to an insolvent liquidation. T

None of us like to think of our companies facing insolvency, but unfortunately that can be the reality of business, especially at the moment. Record numbers of business insolvencies are being recorded, so it’s vital for Directors to be clear what they should and shouldn’t do — preferably before they’re faced with the choices. What Is Insolvency? Section 123 of the Insolvency Act 1986 sets out variou

Eighteen months after the last Covid restrictions were lifted, it might be expected that SMEs would be relying less on new technology, especially technology allowing their employees to work from home. However, a survey last month suggests this is far from the case. SMEs Are Still Relying on Technology A study in September by Novuna Business Finance shows that 67% of small business owners consider technology to be hav

During the pandemic, the government brought in measures that restricted the power of landlords to seek possession from tenants who fell behind in their rent payments. Most of these restrictions ended from 31st October, but what does this actually mean for landlords? The Pandemic Restrictions on Evictions In March 2020, the Coronavirus Act 2020 placed major restrictions on landlords’ ability to seek possession o

The perfect balance for any landlord is to ensure a regular, unbroken income from your property with a minimum of effort and hassle. And the best way of ensuring that is to keep any good tenants you already have. The obvious advantage of keeping a good tenant is that you won’t have gaps in the rent coming in, but there are other benefits. If the tenancy isn’t constantly changing, you’ll be spending

So you’ve got your court order that says you’re entitled to the money your debtor owes you. Now what? It’s one thing to be entitled to it, but that’s not much good if they claim not to have the funds available to pay you. Or do they really? Getting the Information You Need Fortunately, you don’t have to take your debtor’s word that they can’t afford to pay you. If you have a judgement about the debt, you’re entitled

SMEs that rely on large companies as clients have always suffered from a power imbalance when it comes to paying bills, and the situation seems to be getting worse. It’s been estimated £266bn is being withheld from SMEs through late payment, and there are signs this has been increasing since the Brexit vote. Duty to Report All political parties are promising action, and the Duty to Report measures were introduced in

New requirements for residential landlords to ensure that a tenant or lodger can legally rent a property are coming into effect. The new requirements requires private landlords, including those who sub-let or take in lodgers, to check the right of prospective tenants to be in the country to avoid being hit with a penalty. The changes will start where a tenancy agreement commences on or after 1 February 2016 in Englan