BGF pitches £15bn growth fund for struggling businesses post-coronavirus

Originally written by Timothy Adler on Small Business Business Growth Fund is proposing a £15bn growth fund to help businesses struggling under the weight of coronavirus emergency loan debt. Stephen Welton, chief executive of Business Growth Fund, is talking to investors, the Government and his banking shareholders about the new fund. BGF’s shareholders include Barclays, HSBC, Lloyds and RBS. Welton told the Financial BGF pitches £15bn growth fund for struggling businesses post-coronavirus

BGF pitches £15bn growth fund for struggling businesses post-coronavirus

Originally written by Timothy Adler on Small Business

Business Growth Fund is proposing a £15bn growth fund to help businesses struggling under the weight of coronavirus emergency loan debt.

Stephen Welton, chief executive of Business Growth Fund, is talking to investors, the Government and his banking shareholders about the new fund. BGF’s shareholders include Barclays, HSBC, Lloyds and RBS.

Welton told the Financial Times that the UK faces a more devastating economic crash than the Great Recession of 2008, warning of “a totally unsustainable debt mountain” following the Government’s emergency coronavirus lending schemes.

Like others, Welton believes that many businesses will be crushed by this debt mountain, forcing them into bankruptcy and making a lot of people redundant.

Target viable businesses

The BGF fund would specifically target viable businesses that have borrowed money from the Coronavirus Business Interruption Loan Scheme (CBILS) but cannot repay it, because of the complete absence of customers.

Like the Future Fund, any BGF investment would have to be matched by private investors, which could include pension funds. Welton said that he had been talking to a couple of institutions about them coming on board. It has long been an ambition of his to have pension funds diversify into supporting fast-growth British businesses.

The BGF is not alone in calling for some kind of vehicle to invest in Britain’s brightest and best.

Former Treasury minister and Goldman Sachs chief economist Jim O’Neill has called for pretty much then same thing, a £25bn Patient Capital Fund to help businesses get out from under the debt mountain.

And Lord Blackwell, chairman of Lloyds, has suggested the Government could convert bad coronavirus emergency loan debt into equity, giving it stakes in thousands of small businesses.

To date, BGF has invested more than £2bn in growth businesses, making it the most active investor in the UK as well as globally by number of transactions. Two thirds of businesses it has supported have tapped state-aid schemes to get through the pandemic. Well-known companies backed by the BGF include meal-box service Gousto, ceramics brand Emma Bridgewater and fitness chain Gymbox.

BGF pitches £15bn growth fund for struggling businesses post-coronavirus

Source : UK Small Businesses More   

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Top 3 Ways Your Company Can Attract Employees

Attracting top talent is an important priority for many growing businesses. If you’re looking to hire the best people for your team, you’ll want to take strategic action now. The post Top 3 Ways Your Company Can Attract Employees appeared first on Young Upstarts.

Top 3 Ways Your Company Can Attract Employees

If you’re looking to grow your business and attract top talent, you may be looking for some hiring ideas. After all, growth is a sign of a healthy business, and investing in high-quality, capable employees is one of the best investments you can make for your company’s long-term success. While the process of hiring and retaining top candidates may seem daunting at first, it certainly doesn’t have to be – in fact, there are several strategies that can help you build the best team possible.

To learn more about the top three ways your company can attract (and retain!) great employees, keep reading.

1. Understand Organizational Psychology.

If you want to understand what draws the best candidates to your company and keeps them working there once hired, you might benefit from learning about the field of organizational psychology. Organizational psychology is a subfield of psychology that researches workplace issues and ways to resolve them. This field has many practical business applications, from improving manager-employee relationships to boosting productivity. This knowledge is especially useful during periods of growth, when it’s crucial to focus on expanding your company while maintaining your unique culture.

2. Offer Student Loan Benefits.

If your prospective employees have multiple degrees, this means they’re highly educated and qualified – but in many cases, it could also mean that they have student loan debt to pay off. In total, according to the St. Louis Federal Reserve, student loan borrowers in the United States owed over $1.5 trillion dollars in 2018. In fact, studies have shown that the typical borrower owes upwards of $25,000 a person! What this means for you is that offering loan repayment benefits could go a long way in attracting top talent to your company. There are a few different ways you can implement this strategy, from offering a set amount for loan repayment per paycheck to growing benefits offered over time. Other education-related perks that could draw applicants in include tuition benefits, where you would reimburse employees for pursuing a degree related to their work. A better education benefits both you and your employee!

3. Include Wellness Perks.

Adding extra workplace perks is a relatively new strategy that’s attractive to many candidates! Beyond standard benefits like 401k contributions or two weeks of paid leave time, some companies have started to offer health and wellness benefits to the packages they offer prospective employees. These perks can range anywhere from stocking free, healthy snacks in the office break room to giving employees an in-house gym membership and more. These benefits are great for your employees, but they’re also great for you, since a fit workforce with a good work-life balance leads to greater productivity. Investing in your employees is never a bad idea, and offering wellness perks may be the best example of this!

Attracting top talent is an important priority for many growing businesses. If you’re looking to hire the best people for your team, you’ll want to take strategic action now. With these three top tips on hiring the cream of the crop, you’ll be on your way to building an outstanding team in no time!

The post Top 3 Ways Your Company Can Attract Employees appeared first on Young Upstarts.

Source : Young Upstarts More   

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