Expressions of interest have come in from over 490 businesses across the North West keen to access funding from the Northern Powerhouse Investment Fund II (NPIF II) according to fund managers. Across the North of England as a whole, the £660 million fund which launched earlier this year, over … [Read more...]
News for: Finance
£660 million second Northern Powerhouse Investment Fund launches
Small businesses in Cheshire and across the North of England are set to benefit from the launch of the new £660 million Northern Powerhouse Investment Fund (NPIF) II from the British Business Bank. Since the launch of the first Northern Powerhouse Investment Fund in 2017, it has delivered over … [Read more...]
Bellway partners with mortgage provider to support Cheshire homebuyers
Housebuilder Bellway has partnered with Own New on a mortgage product that will make it more affordable to purchase a new homes at three of its Cheshire developments. A new mortgage product, Own New Rate Reducer, could see buyers of new-build Bellway homes benefit from interest rates from below … [Read more...]
Inflation drops to lowest level in nearly two and a half years
The Office of National Statistics (ONS) has reported that February 2024 saw inflation fall to its lowest since September 2021, with its headline Consumer Price Index (CPI) now at 3.4%. The fall, down 0.6 percentage points on January's figure, has helped largely by a slowdown in food and drink … [Read more...]
Food prices fall for first time in two years, reveals ONS inflation data
The Consumer Price Index (CPI), the Office of National Statistics’ (ONS) headline rate of inflation, has held at 4% in January, despite forecasts predicting a small rise. A small rise in inflation in January had been expected as a result of the increase in Ofgem’s energy price cap pushing up … [Read more...]
CPI falls to lowest rate in two years
The Office of National Statistics' (ONS) headline measure of inflation, the Consumer Price Index (CPI), fell to 3.9% in November, its lowest rate since 2021. The latest fall brings inflation down further from 4.6% in October. Driving the slowdown in price rises was a number of staple food and … [Read more...]
Northern Powerhouse lender hits £17.5 million funding milestone in the Cheshire & Warrington sub-region
NPIF-FW Capital Debt Finance, part of the Northern Powerhouse Investment Fund (NPIF) managed by FW Capital, has approached £17.5 million of funding to businesses in the Cheshire & Warrington sub-region. The investment has supported over 50 growing firms in the area, and attracted private … [Read more...]
Chancellor sets out Autumn Statement
Chancellor of the Exchequer, Jeremy Hunt, has set out his plans for the economy in his Autumn Statement, presented to the House of Commons on Wednesday 22nd November. Addressing the House of Commons, the Chancellor outlined proposals to grow the economy through boosts to productivity, and to … [Read more...]
Royal London announces acquisition of later-life lender
Alderley Park-based financial services group, Royal London, has announced the acquisition of later-life specialist mortgage broker and lender, the Responsible Group. The Responsible Group was established in 2010, and acquisition by Royal London builds on the financial service provider's existing … [Read more...]
October saw inflation fall to 4.6%
The rate of inflation has fallen to less than half the rate seen at the start of 2023 according to the the Office of National Statistics' (ONS) headline measure of inflation, the Consumer Price Index (CPI). The latest CPI data shows inflation having fallen 2.1 percentage points to 4.6%, down from … [Read more...]
Bank of England keeps interest rates 5.25%
Economists on the Bank of England’s Monetary Policy Committee (MPC) once again voted to hold interest rates at 5.25% when they met on 2nd November. The MPC voted 6-3 in favour of the hold, with those opposing calling for 0.25 percentage point rise in the bank’s base rate, although rates remain at … [Read more...]
One in five SME owners planning to sell by 2025, finds Handelsbanken study
A study conducted for Handelsbanken Wealth & Asset Management has found that one in five SME business owners plan to sell all or part of their business within the next two years. The survey also found a further 11% will seek to downsize during the same period. Of those considering sale or … [Read more...]