Day: October 17, 2020

How to get funding in challenging economic times

Shortly after the 2008 financial crisis, a £25m turnover plant hire business found itself with lower margins, short of working capital and in serious arrears on many of its hire purchase agreements.

Its bank of many years decided enough was enough and requested that the business move its invoice discounting facility elsewhere.

The various Hire Purchase providers were also looking to be re-financed.

It took time to find a solution. The solution came when a UK subsidiary of a Belgian bank saw the potential of the business and decided to back it because there was a credible plan and management team.

Six months later the Belgian bank had created an entirely new product to meet the needs of the business. The business was successfully refinanced and is now a profitable thriving business with a turnover of over £100m.

This example illustrates that it is possible to secure finance in challenging

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One in five working parents has faced unfair treatment at work since COVID onset

Work-life balance charity Working Families has today released figures that show that 1 in 5—or 2.6 million —working parents in the UK feel they have been treated less fairly at work because of their childcare responsibilities since the onset of COVID-19.

The stats come from a poll, which asked working parents whether they agree with the following statement: “I have felt treated less fairly at work because of my childcare responsibilities” since the COVID-19 outbreak in the UK began. 20% of working parents answered “strongly agree” or “tend to agree”. Mothers were more likely to agree with the statement than fathers. Part-time workers were much more likely to agree with the statement than full-time workers.

This polling—launched during National Work Life Week —underpins the charity’s call for adding caring responsibilities to the list of protected characteristics in the Equality Act, providing a legal foundation on which to tackle workplace discrimination

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Judge rules Fast Company senior editor must reveal confidential source

A federal judge for the Southern District of New York ruled that Fast Company senior news editor Marcus Baram must reveal his confidential source within two weeks.

Shervin Pishevar, a venture capital investor, entrepreneur and philanthropist, filed an application for discovery against Baram in October 2019 in an effort to force him to identify the confidential source of a forged police report that Baram used for an article about Pishevar in 2017.

Baram mentioned the report’s existence in his story after Pishevar confirmed he was arrested, but didn’t rely on the report.

In February, U.S. Magistrate Judge Stewart Aaron ruled that Pishevar failed to show that the information could not be obtained from other sources and did not overcome Baram’s claim of reporter’s privilege. Pishevar filed a motion for reconsideration in March, which Aaron found still failed to show that the source’s identity could not be obtained from other sources.

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