Welcome to the October edition of the Dee Commercial Finance newsletter!
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Optimism continues to improve as business volumes rise
Business volumes rose for a second consecutive quarter in the three months to September, according to the latest CBI/PWC Financial Services Survey. Although growth slowed compared with the previous quarter, business volumes are expected to rise at a stronger pace in the three months ahead.
Second charge agreements more than double in August
The second charge mortgage market has continued to show signs of recovery with the number of new agreements and value of new business more than doubling compared to the same period last year.
According to the latest figures from the Finance & Leasing Association (FLA), there were 2,314 new second charge agreements in August, just over double the figure from the previous year.
SMEs keen to expand their workforce despite economic challenges
Recruiting new staff has become a top priority for UK small- and medium-sized enterprises (SMEs) but employers admit that recruitment could be challenging in the economic environment.
A poll of more than 250 SMEs by alternative lender Capify found that more than one in three expect to increase the size of their workforce by over 10 per cent over the next 12 months but 36 per cent said it would be a challenge
UK SMEs hit by the impact of long COVID
Research from Unum UK show that more than one in three UK SMEs suffered a critical impact on finances and business success due to the effects of long Covid.
The survey of 1,055 SMEs found that 45% reported at least one staff member had been diagnosed with Covid-19, while 35% had an employee report symptoms of long Covid.
A third of SMEs that had a staff contract Covid-19 said it had a “critical” impact…