GC Business Finance and River Capital have revealed they have supported Northern businesses with over £1.7 million in smaller loans funding in the first year of the Northern Powerhouse Investment Fund II (NPIF II). Since the launch of the fund in April 2024, the consortium has supported 32 … [Read more...]
News for: Finance
GCBF and River Capital drive North West growth with £1.4 million NPIF II investment
GC Business Finance (GCBF) and River Capital have provided £1.4 million worth of funding to 23 businesses in the North West since the second Northern Powerhouse Investment Fund (NPIF II) launched in March 2024. The two organisations manage as a consortium NPIF II - GC Business Finance & River … [Read more...]
British Business Bank reveals impact after a decade of support for small businesses in the North West
Since it was established in 2014, the British Business Bank has delivered funding to over 24,000 smaller businesses across the North West of England according to findings published in the Bank’s The Power of 10: 10 Year Impact Report. Assessment of the British Business Bank’s impact found … [Read more...]
Inflation rose to 2.3% in October
October Consumer Price Index (CPI) data from the Office of National Statistics (ONS) has revealed a 0.6 percentage point rise in the rate of inflation. Annual inflation reached 2.3% in October, its highest rate since April, after a sharp rise on the previous month’s figure of 1.7%. While … [Read more...]
Bank of England cuts interest rates to 4.75%
The Bank of England’s Monetary Policy Committee (MPC) has voted to cut interest rates by 0.25 percentage points to 4.75%, the second cut of this year. Economists on the MPC voted 8-1 in favour of the cut, with the decision following the ONS’ announcement that CPI inflation fell below the … [Read more...]
£150,000 refurbishment completes at Poynton building society branch
Vernon Building Society has completed the refurbishment of its Poynton branch, the last remaining bank or building society branch still open in the town. The £150,000 refurbishment of the Stockport mutual’s branch on Park Lane, Poynton, is a further demonstration of the building society’s … [Read more...]
Inflation holds at 2.2% in August
Latest inflation data from the Office of National Statistics (ONS) has found that prices rose 2.2% over the 12 months to August 2024, the same rate as recorded the previous month. The latest Consumer Price Index (CPI) data from the ONS sees inflation remain slightly above the Bank of England’s 2% … [Read more...]
Alderley Edge financial advisors sponsor charity golf day
Wilkinson Financial Management, an advisory firm based in Alderley Edge, served as the headline sponsor for a charity golf day on 5th September 2024 in aid of Seashell Trust. The event attracted almost 100 local business professionals and golf enthusiasts who engaged in a challenging 18-hole … [Read more...]
ONS reveals July rise in inflation
The latest inflation data from the Office of National Statistics (ONS) has revealed the rate of price rises quickened in July for the first time this year. The ONS recorded that its headline measure of inflation, the Consumer Price Index, rose by 2.2% in the 12 months to the July 2024, up from … [Read more...]
Bank of England cuts interest rates for first time since March 2020
Economists at the Bank of England have voted in favour of cutting its base rate to 5%, the first cut in interest rates since March 2020. The Monetary Policy Committee voted 5-4 in favour of the 0.25 percentage point cut in interest rates. The decision follows interest rates having been held at … [Read more...]
North West profit warnings down of previous year’s figures
UK-listed companies in the North West have issued 21% fewer profit warnings in the first six months of 2024 than in the same period last year, according to EY-Parthenon’s latest Profit Warnings report. A total of 11 warnings were issued by businesses in the region in the six months to … [Read more...]
Bank of England continues to hold interest rates at 5.25%
Leading economists on the Monetary Policy Committee (MPC) of the Bank of England have once again chosen to hold interest rates at their current 16-year high of 5.25%. Committee members voted 7-2 in favour of keeping rates at 5.25% for at least a further six weeks; the two members voting against … [Read more...]