A Freedom of Information request to the British Business Bank by Purbeck Personal Guarantee Insurance, has revealed that one in ten firms who borrowed money under the Bounce Back Loan Scheme (BBLS) are in arrears by over ninety days, with £29.357 owed in total.
About one in eight of the 1.5 million small businesses in the UK who were encouraged to take out loans under the COVID-19 Bounce Back Loan Scheme have fallen into arrears on their repayments.
The impact of the COVID-19 pandemic has been felt more strongly by women business owners and entrepreneurs compared to their male counterparts, new research by Royal Bank of Scotland suggests. A YouGov survey commissioned by the bank found that nearly three-quarters (71%) of female business owners a
The Gleneagles Hotel has announced that it will close with immediate effect and not reopen until February. The hotel, which is one of the most luxurious in Scotland, has decided to close its doors from today and has been writing to customers who have booked stays over the next seven weeks.
More than a fifth of retailers and wholesalers in Scotland were already stockpiling before the coronavirus pandemic in anticipation of Brexit, helping firms feel more prepared for COVID-19, according to a new report from Barclays Corporate Banking. The report found that while the retail and wholesal
Scottish listed companies recorded the smallest increase in profit warnings across the UK during the first three-quarters of 2020, according to new analysis from EY. The number of profit warnings in the first nine months of 2020 from companies headquartered in Scotland increased by 6%, the smallest
Staff at Big Four accountancy firm PwC and asset manager company Schroders are to work from home permanently signalling a change to flexible working in the wake of the coronavirus pandemic. Kevin Ellis, PwC’s chairman, has said thousands of the firm’s 22,000 UK staff will never retu
Borrowing money from loved ones dropped by almost a third (30%) in the last year, then a further 44% during lockdown, according to the latest data from Bank of Scotland.
The UK economy has officially entered a recession as it suffered its biggest decline on record between April and June, according to the latest statistics from the Office for National Statistics (ONS).
Debbie Mayor, director at accountants and business advisers Grant Thornton, reveals why businesses must adopt a similar approach to that taken by Holyrood policymakers in easing lockdown restrictions. Throughout the COVID-19 lockdown businesses of all sizes have demonstrated remarkable agility and r
Royal London has paid out £8.5 million in claims to the families of more than 1,200 customers whose deaths were caused by the coronavirus. The firm, which employs 1,561 people in Scotland, reported an interim loss of £181m after a £397m profit at the same time last year.
The downturn in the Scottish private sector eased noticeably in July, with clear signs that the economy is approaching stabilisation, according to the latest Royal Bank of Scotland PMI. The seasonally adjusted headline Royal Bank of Scotland Business Activity Index - a measure of combined manufactur
Perthshire-based timber manufacturing company, Glenalmond Timber, has received £600k in CBILS funding from the Royal Bank of Scotland to help safeguard the future of the business following the coronavirus pandemic. The finance package will assist the third-generation family bu
Retailers in Scotland lost £1.9 billion of retail sales during the first four months of the coronavirus pandemic, according to new analysis by the Scottish Retail Consortium (SRC).
Tom Nener, legal director at Pinsent Masons, highlights the importance of protecting your brand as criminals take advantage of the pandemic. The coronavirus crisis has provided a fertile platform for sophisticated counterfeiters, as highlighted in recent reports by cross-border law enforcement