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Meet the SME Finance Broker Supporting New Businesses During COVID-19

Meet the SME Finance Broker Supporting New Businesses During COVID-19

BizBritain

BizBritain
BizBritain
BizBritain

London, UK, Oct. 08, 2020 (GLOBE NEWSWIRE) — While the COVID-19 outbreak continues to spark uncertainty throughout the economy, a growing number of ambitious entrepreneurs are using the pandemic as a unique opportunity to design, build, and develop their own businesses from the ground up. Following a worrying period of job losses, the number of new businesses being registered with Companies House is understood to have experienced a 50% year-on-year increase, with many new start-ups securing essential funding through SME finance expert, BizBritain.

A UK-based commercial finance broker, BizBritain has secured funding totalling more than £30 million since the service was first launched in 2012, with an estimated £6 million being distributed over the past 6 months alone during the country’s COVID-19 lockdown. Companies House data suggests that while the number of new businesses initially dropped through March, April, and May, start-up registrations grew to a whopping 77,574 in June 2020, up from 52,779 the year before; a notable 47% increase in new business registrations. 

BizBritain is supporting these new SMEs as they work to identify and secure the most suitable and affordable funding options for their ventures. A prime example is that of James and David Hennessy, who both lost their jobs as a direct result of the pandemic. With support from BizBritain, the Hennessy’s launched commercial flooring company Hennessy Flooring in June. BizBritain-secured a working capital loan that enabled Hennessy Flooring to more effectively handle the unprecedented number of orders that came flying in. 

“While it is certainly very good news – both for the economy and for people themselves – that those in challenging situations are using a very difficult and uncertain period as a driver of innovation, and as a chance to transform passion into a livelihood, the harsh truth is that early-stage

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BMW On Track to Meet 2020 Financial Targets, CFO Peter Says

BMW On Track to Meet 2020 Financial Targets, CFO Peter Says

(Bloomberg) — BMW AG is on track to meet its full-year targets after a recovery in auto sales led by China helped the manufacturer weather the coronavirus pandemic.



a car parked in front of a mirror posing for the camera: A BMW automobile i8 electric vehicle stands parked inside a Bayerische Motoren Werke AG showroom in Frankfurt, Germany, on Tuesday, Aug. 4, 2020. The German automaker said it is seeking to reduce CO2 output per car by at least a third by 2030, and track progress via raw material sourcing, production and road emissions.


© Photographer: Bloomberg/Bloomberg
A BMW automobile i8 electric vehicle stands parked inside a Bayerische Motoren Werke AG showroom in Frankfurt, Germany, on Tuesday, Aug. 4, 2020. The German automaker said it is seeking to reduce CO2 output per car by at least a third by 2030, and track progress via raw material sourcing, production and road emissions.

The German carmaker will meet both its full-year forecasts and the European Union-mandated CO2 targets this year, Chief Financial Officer Nicolas Peter said Thursday. He cited a boon from China, where car sales rose by a fifth in September from a year ago.

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“The third quarter was much better than the second quarter, but with different speeds in different markets and regions,” Peter said during a call with reporters.

BMW has projected an automotive Ebit margin of between 0% and 3% this year, and for sales to be significantly lower than last year after the pandemic shut down factories and dealerships. Deliveries of BMW-brand vehicles are down 11% this year through September, the company said earlier this week.

The automaker is also trying to ramp up sales of electric cars to meet emissions regulations in Europe that will get stricter in 2021. Peter said he sees the company complying with those rules this year and next year.

Read more: EV Sales Needed to Hit European CO2 Targets

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©2020 Bloomberg L.P.

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