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Latest News R3 warns of dangerous times for businesses
R3 warns of dangerous times for businesses
Now could be "the most dangerous time for businesses", it has been suggested.
Although the recession may technically be over, significant number of businesses will continue to experience financial difficulties as the year progresses.Such is the assertion of insolvency trade body R3, which reports that some 28,000 corporate insolvencies are expected in 2010.
Not only does this represent a slight increase from figures recorded in 2009, it is also a 22.8 per cent rise from the 22,792 seen in 2008.
And now could be an ideal time for firms to assess their business account use, as president Peter Sargent points out that a period of economic recovery "is the most dangerous time for businesses as creditors attempt to collect money owed and policy makers cut measures aimed at helping those in financial trouble".
Those looking to make repayments on business credit cards may also want to consider his claims that the Bank of England's recent interest rate hold suggests that there is a danger of "a double-dip recession".
Such sentiment was echoed by Forum of Private Business spokesperson Phil McCabe who claimed that despite recent signs of improvement, "the worst certainly isn't over" and businesses should look to keep a firm grip on costs.
By Joe Letts
Monday, 08 February 2010 00:00
| Card | Balance Transfers | Purchases | Typical APR (variable) | Apply |
|---|---|---|---|---|
| View Full Table > | ||||
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Barclaycard MasterCard Business Card | |||
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N/A
N/A
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N/A
N/A
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15.2%
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Barclaycard Visa Gold/Platinum Business Card | |||
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N/A
N/A
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N/A
N/A
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15.2%
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Barclaycard Platinum/Gold Corporate Charge Card | |||
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N/A
N/A
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N/A
N/A
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N/A
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Introductory Offer
- Balance Transfer Rate:
- N/A
- Balance Transfer Fee:
- N/A
- Purchase Rate:
- N/A
Typical APR
- Purchases:
- 15.2% p.a.
- Balance Transfers:
- 15.2% p.a.
- Cash Advance:
- 26.9% p.a.
- Annual Fee:
- £32 p.a.
Standard Features
- Credit Limit:
- £10,000 (Subject to Status)
- Interest Free Days:
- Up to 56 days
- Online Banking:
- Yes
Introductory Offer
- Balance Transfer Rate:
- N/A
- Balance Transfer Fee:
- N/A
- Purchase Rate:
- N/A
Typical APR
- Purchases:
- 15.2% p.a.
- Balance Transfers:
- 15.2% p.a.
- Cash Advance:
- 26.9% p.a.
- Annual Fee:
- £32 p.a.
Standard Features
- Credit Limit:
- £10,000 (Subject to Status)
- Interest Free Days:
- Up to 56 days
- Online Banking:
- Yes
Introductory Offer
- Balance Transfer Rate:
- N/A
- Balance Transfer Fee:
- N/A
- Purchase Rate:
- N/A
Typical APR
- Purchases:
- N/A
- Balance Transfers:
- N/A
- Cash Advance:
- N/A
- Annual Fee:
- £32 p.a.
Standard Features
- Credit Limit:
- £10,000 (Subject to Status)
- Interest Free Days:
- Up to 38 days
- Online Banking:
- Yes
| Provider | Account | AER | Free Banking Duration | Interest Paid | Apply |
|---|---|---|---|---|---|
| View Full Table > | |||||
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FREE day-to-day banking forever
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6%
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for Unlimited
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Monthly
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Free day to day banking and a market leading cash deal
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0.25%
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for Unlimited
|
Monthly
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2 years FREE business banking with NO charges
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0%
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for 24 mths
|
Monthly
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Up to 2 years free banking & free automated transactions
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N/A
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for up to 24mths
|
Monthly
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Get free automated transactions, plus a whole lot more
|
N/A
|
N/A
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Monthly
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- ***CALL 0845 606 0875 TO APPLY***
- (This offer is only available over the phone).
- 6.0% AER for the first 12 months on balances up to £2,500 when you use the Account Transfer Service
- Free day to day banking includes:
- Unlimited direct debits, standing orders and bill payments
- Unlimited debit card payments
- Unlimited automated BACS credit
- Unlimited transfers between linked Abbey accounts
- 100 cheque deposits per month
- 100 cash and cheque withdrawals per month
- £3,000 in cash deposited per month
- Operate the account through the internet, by phone, by post and ATMs
- Cheque book, paying in book, debit card and regular statements
- No monthly charge
- No minimum balances
- No minimum amount required to be paid in each month
- Monthly deposits of £1,000 or more are required to earn 6% AER / 5.84% gross
- Free access to Relationship Managers as your business grows
- Authorise others to operate the account on your behalf
- Awarded ‘Best Business Current Account Provider’ for 7 years year running.
- The rate of base +0.60% is applicable for 12 months from opening your account, then reverts to a rate of base -2.00% gross per annum. This rate will not to fall below 0.10% regardless of any downward movements in our base rate.
- **Unrivalled access and convenience** - Pay in and withdraw money at any branch as well as at any Post Office Nationwide. That’s a bigger branch network than all of the big banks combined!
- FREE & UNLIMITED day to day banking:
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- FREE cash deposits up to £3,000 each month, then it is just 50p per £100
- Bank online, over the phone or via the post, plus you can pay in or withdraw money at any Alliance & Leicester branch or Post Office.
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- **Unrivalled access and convenience** - Pay in and withdraw money at any branch as well as at any Post Office Nationwide. That’s a bigger branch network than all of the big banks combined!
- No minimum balance of funding requirements
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- Bank by Internet, fax, phone or at 14,000 Post Offices
- Up to 2 years free banking*
- Free Automated Transactions Tariff as standard (at the end of the Free Banking Period)
- Your own Local Business Manager – backed up by an Award Winning Telephony Team**
- Bank in branch, online or by phone
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- Free CREDITFOCUS Classic - an award wining credit management tool***
- We offer up to 45 minutes’ free consultation with local professional experts in accountancy, marketing and law.
- Free Local Business seminars
- Free - Securely back up 2GB of your business data
- Access to unique business management software so that you can spend less time on admin and more time on what you love doing
- * There is no charge for standard transactions for two years if the Barclays Business Essentials and CREDITFOCUS Pro or Barclays Business Essentials Plus and CREDITFOCUS Pro or Barclays Business Manager and CREDITFOCUS Pro are purchased at the time of opening the account. This is only applicable for new businesses opening their account with Barclays. This applies to everyday Sterling, debit and credit transactions and the maintenance fee. Please note: accounts must be active.
- **Best Large Call Centre in 2007 European Call Centre Awards
- ***Available to small businesses with a turnover below £1m
- Free Automated Transactions Tariff as standard
- Your own Local Business Manager – backed up by an Award Winning Telephony Team**
- Bank in branch, online or by phone
- We offer more than you’d expect from a bank…
- Free CREDITFOCUS Classic our award winning service to help cut out late payers and the risk of bad debt until 31st December 2009 *
- Free advice from a local solicitor
- Free Local Business seminars
- Free - Securely back up 2GB of your business data
- Free online skills training
- Free advice from our Legal & Tax helpline
- Plus, access to unique business management software so that you can spend less time on admin and more time on what you love doing
- **Best Large Call Centre in 2007 European Call Centre Awards
- *Available to small businesses with a turnover below £1m
