Here at GIC Capital, we've launched a new service for firms seeking a business overdraft. 

The new addition will allow us to put our extensive business finance experience to use in a new field – matching ambitious companies seeking a new line of working capital with a vetted business overdraft lender. Mindful of the fact that many small businesses often rely on an overdraft function to help them achieve their growth objectives and alleviate cashflow issues, this service is tailored and fully personalised. 

We fully appreciate how difficult running a small business can be and know that sometimes, an overdraft is an invaluable lifeline. However, it’s not always easy to work out which product is the most suitable. Our new service is designed so that we can match businesses looking to get an overdraft facility in place with an experienced lender – one that truly understands the challenges and opportunities faced by small businesses in the current economic landscape.

The business overdraft service delivers a carefully vetted and highly flexible line of credit to the SME business owner, particularly those with ambitious growth forecasts. GIC Capital takes the role of impartial expert advisor, guiding the business to the most suitable facility. 

We’re passionate about helping small businesses seize every opportunity that comes their way and whether that means having more cash available to pour into a marketing campaign or immediate funds to purchase new inventory, we want to make that happen. Millions of businesses put off the search for a business overdraft because it can seem daunting or, they’ll turn to their regular bank or lender rather than research other options. Often, shopping around and taking a more detailed view of the marketplace can lead to a better deal – or at least peace of mind that the facility being offered by the usual bank is the most appropriate agreement for that business.

Our dedicated team works in collaboration with the borrower to streamline the process of getting a business overdraft facility set up. The entire process has been developed to be quick and stress free for the busy business owner. To get started, the borrower is asked to complete a single form online. An experienced GIC Capital team member is on hand to offer advice and smooth the pathway from initial enquiry to the overdraft function being made available. 

To ensure a frictionless experience, we work only with lenders that adhere to clear and transparent codes of practice, especially with regards to considerations such as the interest rate to be paid on the overdraft. 

Any business owner or director over the age of 18 is able to take advantage of the new GIC Capital service and, funds are made quickly available via a direct bank transfer or through means of a prepaid Business Plus MasterCard. This immediacy of funds means the overdraft can be put to work right away to benefit the small business concerned, helping to smooth out cashflow blips before they become a bigger problem. 

To find out more, visit https://www.giccapital.co.uk/business-overdraft 

A high proportion of SMEs in the UK are choosing to only accept cash payments from customers, putting themselves at a serious competitive disadvantage.   

According to a recent study, around 2.6 million SMEs across the UK are still not accepting card payments, something that is likely to prevent them from attracting more sales. 

With 81% of people claiming that they would be more inclined to shop locally if they knew that shops accepted cards, failing to offer this payment service is likely to alienate a large chunk of an SME’s prospective client base. 

Small businesses in the UK are in constant competition with larger organisations and because of this, they need to take advantage of every opportunity that they have at their disposal. 

They should also recognise the merits of making it as fuss-free as possible for customers to buy from them by offering the facilities for card payments as well as more traditional payment methods, such as cash. 

Card payments began to overtake cash payments as the main method of purchase in July last year and since then have been growing in popularity. 

Figures released by the British Retail Consortium have also revealed that the average Brit has only £32.54 cash in either their purse of wallet at any given time. This would only be enough to cover the cost of one average transaction size, which currently stands at £18.42. 

The merits for businesses that choose to offer their customers card payments also go well beyond financial accessibility. There is the element of increased safety to consider, as it means that businesses will not be holding as much cash on their premises. 

They are also likely to ease the workload that is synonymous with cash payments, which often results in numerous transactions as opposed to a regular statement from card transaction. 

GIC Capital offers UK businesses operating across a variety of sectors including retail and construction with fast and flexible expansion capital options. The business loans and overdrafts that they provide are from substantial private owned investment companies and their strong connections with such businesses allow them to make suitable matches for businesses. 

A British think tank believes that a £10,000 payment to people at the age of 25 could help young people expand their careers and start their own businesses. 

The Resolution Foundation is committed to improving the quality of life for those in low to medium income families. The organization feels that amendments to the tax system, as well as a substantial payments being made to millennials, is needed to heal the intergenerational divide. 

The independent think tank, which was established in 2005, has suggested that the new payment would be funded by a newly issued ‘lifetimes receipt tax’ that would replace the current inheritance tax. 

While there is plenty of variation in terms of the costs associated with starting a business depending on size and industry, a 2016 survey by Geniac found that the average UK startup will spend £23,000 during its first year.

This figure suggests that a £10,000 cash boost would be significant to entrepreneurial youngsters keen to get their business idea up and running and in action. 

As the housing market in the UK continues to be blighted by a serious shortage, small and medium-sized developers are complaining about a lack of support from the government and other legislators. 

Builders and developers face a number of pressures and challenges at present that are making their jobs difficult. A survey conducted by CRL revealed that one such challenge included inadequate support from those that are responsible for setting regulatory and legal requirements. 

Shocking figures revealed that 53% felt that the government was ‘unsupportive’ and ‘very unsupportive’, with just 2% feeling as though legislators are ‘very supportive’ of the industry. Sentiments that Government policy also unfairly favours larger homebuilders over smaller ones have continued to circulate. 

The Government has set a target of building 300,000 houses each year to address the shortage. While this is necessary to improve the shortage and present millennials with the opportunity to get on the property ladder, legislators will need to consider how they can get behind small homebuilders and support their businesses and the work that they do. 

There is a focus on producing homes quickly, with ministers suggesting that developers who fail to erect properties at a suitable speed should have their land confiscated. Measures like this may be necessary if homes are going to be built at the rate that they need to be, but the Government should consider how removing unnecessary red taping from the process could be beneficial. 

While corners should never be cut when it comes to building properties that are safe and structurally sound, there may be merits to simplifying inspection and certification, both of which will speed up the housebuilding process for SMEs and other developers. 

GIC Capital offers UK businesses operating across a variety of sectors including retail and construction with fast and flexible expansion capital options. 

Latest statistics have revealed that UK manufacturing grew steadily at the end of the first trimester of this year but there are concerns about the stability of this growth. 

The Markit/CIPS UK Manufacturing purchasing managers' index (PMI) showed a reading of 55.1 for March, which was higher than February’s score of 50. Anything above 50 tends to indicate growth, suggesting the future of UK manufacturing could be set to return to positive output levels despite a rocky start to 2018.   

Figures revealed that output for UK manufacturing fell by 0.2% in February as the sector struggled to emerge from the depths of the recession. 

The statistics came as a shock, especially given the fact that economists had forecast a 0.2% rise in industrial and manufacturing output in February. 

The ONS had attributed this fall in performance to the bad weather that the UK has been subject to in at the beginning of the year, although this is hard to quantify.   

The UK manufacturing industry seems to be moving in the right direction and is taking steps to reverse the damage that a fall in output at the start of the year contributed to. 

Despite these most recent positive figures, the construction industry has still contracted by 3% in the last year, with private house building being the only sector experiencing growth. Other sectors including the construction of infrastructures, such as road and rail projects, are down on this time last year. 

While the PMI figures are of course encouraging and 55% of manufacturing companies have forecast that their output will be higher in 12 months’ time, the lack of job creation this year means that the foundations for continuing growth in the manufacturing industry still seem somewhat unstable. 

Exports have also been steadily growing, but there are concerns that certain versions of Brexit that are currently in discussion could slash this figure by a third. 

A paper by the UK Trade Policy Observatory has revealed that even if the government was to strike a free trade agreements (FTAs) with every other major country, it would still lead to falls in exports of 34%. 

As Brexit continues to loom large on the horizon and many businesses are faced with doubts about the implications of it, 61% of UK SMEs are keen to reverse the process. 

A survey conducted by Citibase, a company specializing in flexible office solutions for entrepreneurial professionals, has revealed that of 1,059 SMEs asked, 49% are delaying investment decisions until a decision has been reached regarding the UK’s exit from the EU. 

These figures come as a surprise, especially given the fact that 78% of SMEs have seen their revenues either increase or stay the same since the vote to leave the UK was finalized. 

Common concerns for SMEs across the UK include the weakening pound, as well as the implication of Britain leaving the Single Market, resulting in difficulties surrounding free trade and exporting. 

Brexit continues to concern many small businesses across the UK and another issue for SMEs is how they can go about retaining EU workers within their companies. 

The skills shortage is something affecting many SMEs in the UK and the problem is only being made worse by the fact that many EU residents are leaving the UK amid fears about their rights post-Brexit. 

According to the Federation of Small Businesses, around 21% of SMEs employ EU citizens, suggesting a fairly significant amount of companies are set to be affected by the amount that are choosing to leave the UK. 

37% of SMEs are also having difficulties when it comes to both raising finance and attracting investment, things that capital funding company GIC Capital can certainly help with. 

The closure of more high street shops has highlighted a transformation in the retail industry and the way that consumers are choosing to shop for fashion items. 

Thanks to a rise in the popularity of internet shopping and a weaker pound, shoppers are choosing to spend less time in their favorite high street shops and the statistics are telling of a worsening crisis for the industry. 

Last year 5,855 UK high street stores closed, with fashion and footwear outlets being the hardest hit according to statistics compiled by The Local Data Company. 

The problem has continued to deepen this year following the collapse of both Toys R Us and Maplin, which has resulted in the loss of over 5,000 jobs. 

While the consumerist element of our society shows no sign of slowing down, what is changing is the way that people are choosing to buy their goods. 

In particular, the emergence of e-commerce is resulting in a shift to online shopping, with customers favouring the convenience and speed of browsing for clothes on websites as opposed to visiting busy shops. 

You only need to look at recent statistics from leading online retailer ASOS, which show that their profits are up 10% to £29.9m, to see that these sorts of businesses are leading the way for the retail industry. 

In order to remain competitive, brands will need to consider utilising websites to sell their goods and will also need to take steps to ensure that their online presence is pertinent with their target market. 

E-commerce refers to the buying and selling of both goods and services on the internet and harbours a number of benefits for both retail businesses and customers. 

For businesses, e-commerce gives them the ability to overcome geographical locations and take advantage of global markets while also gaining new custom thanks to the potential of search engine visibility. 

The UK property market still holds a lot of potential for savvy investors, but uncertainty is making it more difficult to access the expansion capital needed to tap into lucrative growth areas. We. at GIC Capital, are urging experienced landlords, investors, and property traders to seek the finance they need elsewhere. 

Brexit has caused many of the traditional high street lenders to take a more cautious approach when it comes to investing in all business ideas, including those within the property sector. But there’s still a housing crisis and it’s an issue many council leaders are acknowledging. Despite Prime Minister Theresa May pledging £2 billion to fund homes last year, many Conservative party members have commented that it doesn’t go far enough, demonstrating the continued demand. 

Of course, the housing crisis doesn’t mitigate all the risks and investors in the property sector need to take the time to understand where the fast growing market hotspots are. However, there are still areas that can generate significant returns, whether landlords are looking for their next rental property or investors want to back profit generating projects. 

The flexible approach to funding growing property portfolios means GIC Capital provides a critical alternative to high street lenders. 

The changing approach of traditional lenders means that many potential and experienced invests are being left out, it’s not only harming their personal options but the wider economy too. It’s important that much needed property developments, in both residential and commercial, receive the backing they need to go ahead. 

Discussions that took place during a Think Tank session held at Hotelympia in London earlier this year have revealed that a lack of trust in leadership could be stopping SMEs from reaching their full potential. 

The event was attended by a mix of entrepreneurs from a variety of sectors including the hospitality and sports industry and focused on discussions about company culture, as well as the changing face of business environments that are making way for younger talent. 

We at GIC Capital provide business leaders and entrepreneurs with vital funding resources to leverage their company’s potential and we’re concerned that a lack of strong leadership within businesses could be detrimental to UK SMEs, especially given the added financial pressures that a weak pound and uncertain Brexit are having on UK businesses. 

A number of UK industries are facing tough times at the moment and without strong leadership, many could face crippling under the pressures of the economy and the current business landscape. 

The hospitality sector, for example, is set to be negatively impacted by Brexit, especially given the fact that three million EU nationals currently work within the industry. With concerns as colossal as these hanging over the heads of business leaders and companies, the need for strong leadership that can inspire workers has never been more important.

The Think Tank discussion also touched on the fact that the business leaders of the future, many of which will be from the millennial era, will have differing views on leadership thanks to their exposure to social media and higher education. 

As a capital funding organization that offers SMEs a range of different financing options, we are celebrating a significant milestone for one of the many industries that we provide for. 

SMEs are the lifeblood of the British economy, responsible for 60% of all private sector employment, and it seems one industry in particular is flourishing at the moment - construction. 

The number of SMEs operating in the construction sector across the UK has increased by 32,000 in the last year, meaning that there are now over 1 million construction-related SMEs in the UK- a significant feat given the fact that there are around 5.5 million small businesses currently operating in the UK. 

GIC Capital provides funding options for a plethora of different industries and employs a tailored approach with each of their clients to ensure that they maximize their potential and facilitate growth. 

SMEs in the UK are doing well at the moment and it seems that the economy is faring better than businesses were initially anticipating in 2018.

All companies, including small ones, want to see their businesses blossom, and often this will mean having access to the appropriate financial options. Luckily we have a number of different choices available to SMEs. 

Whether you are looking to expand your offering or just want to maintain the level that you are currently operating at, our bespoke service can help you get where you need to be.

GIC Capital has a number of connections with substantial privately owned investment companies and their commitment to getting to know each and every client that they work with means that they can guarantee substantial returns for SMEs.