Reflections on the changing funding world

Posted Posted in Asset based finance, Banks, Bibby Financial Services, Blog, Chancellor of the Exchequer, Crowdfunding, David Postings, Economic growth, Invoice finance, Leasing, News, Non-bank lending, P2P lending, Regulation, SMEs

Some onlookers thought that 2015 would be the year when we might be able to move on from the fallout of the financial crisis, with UK banks finally forgiven for their past misdemeanours. There were positive murmurs from the Government and a clear desire to get on with the vital work of restoring trust and confidence in the financial services sector. Indeed, in his June Mansion House speech, Chancellor George Osborne spoke about the UK […]

A new opportunity

Posted Posted in Bibby Financial Services, Blog, David Postings, News

Last week, I was appointed as Global Chief Executive for Bibby Financial Services. I first joined BFS in April 2012 as UK CEO and since this time I have been consistently impressed with the determination, commitment and spirit of the people within this business. In the announcement of my appointment, I commented that BFS was a progressive company with fantastic people and genuine commitment to delivering market leading service to our clients. I meant all […]

Mind the skills gap

Posted Posted in Bibby Factors, Bibby Financial Services, Blog, Skills gap, SMEs

SMEs recognise that the UK economy is suffering from a prolonged skills shortage. The CBI recently warned that this is a barrier to recovery, with 2 in 3 businesses saying they expect their need for staff with higher level skills to grow in the years ahead. The skills gap is seen as one of the main reasons for the UK’s productivity woes, particularly affecting sectors like engineering and construction. The Institution of Engineering and Technology […]

Why P2P lending is not a silver bullet

Posted Posted in David Postings

The myth of the P2P panacea I am in favour of anything that increases choice and enables the UK’s SMEs to access the funding they need to grow. The peer-to-peer (P2P) lending market has grown substantially since the first provider, Zopa, arrived in the UK in 2005, with the market surpassing the £1 billion funds advanced mark by the end of last year. To be clear, this is the total of all loans and not […]

Next Government must recognise the full range of financing options for UK SMEs

Posted Posted in Bibby Factors, Bibby Financial Services, Blog, David Postings

The lead-up to the General Election on 7 May has had an unprecedented focus on small businesses, with all parties outlining policies designed to support their growth. The parties appear determined to help ‘working Britain,’ particularly the small business owner. But the political parties’ manifestos indicate a worrying ignorance of how SMEs seek financing. They imply that UK SMEs are faced with a simple dichotomy: the big banks on the one hand and emerging peer-to-peer […]