Latest news with #Novuna
Daily Mirror
20-05-2025
- Business
- Daily Mirror
Younger couples are saving up in-case they break-up new research shows
New findings show that younger generations are preparing for break-ups by keeping a 'secret stash' - despite saying they highly value financial honesty in their relationships The promise of love is not enough to make millennials and Gen Z give up control of their finances. In fact, new research indicates that many are preparing for potential heartbreak by adding to their own secret piggy bank. According to research from Novuna Personal Finance, half of UK adults say that they have an 'independence fund'. Essentially, a secret stash of savings set aside specifically in case their relationship breaks down. This new trend is being spearheaded by younger generations who are determined to redefine the parameters of relationships. The findings show that among 25-34 year-olds, 79% have an independence fund and nearly half say they have not shared their entire financial situation with their partner. Common secrets when it comes to money range from hidden savings and investments to concealed salaries and bonuses and secret splurges. The average balances in these private funds are between £4,000 - £5,000, with couples in London most likely to have an independence fund, compared to other major cities like Glasgow, Manchester and Birmingham. The rising trend indicates that younger generations are prioritising their financial independence and security over complete financial integration in a relationship. But that doesn't mean they don't trust their partner to be financially savvy. In fact, younger Brits find financial savviness attractive. A quarter of them share that investment acumen is an attractive money trait in a partner and that overspending is their biggest red flag. Their preference to keep finances separate is also not an indication that they don't want to bring money talk into their relationships. The opposite is true, according to Novuna's findings. Nearly a third of Brits surveyed said they had detailed conversations about money early while dating their partner and the average couple talks about money seven times a month. Coupled up millennials and Gen Z want to speak openly about money in their relationships as 86% said they value financial honesty in a relationship. Though, they may struggle to disclose their personal finances. Theresa Lindsay, Chief Marketing Officer at Novuna Personal Finance, says that financial independence is becoming a deal-breaker in modern relationships. 'There's a quiet shift happening in relationships today – financial independence is becoming just as important as emotional connection.' 'While many couples are still working together to build their future, more people are also putting individual safeguards in place, just in case,' says Lindsay. 'The positive takeaway here is that Brits are becoming more financially empowered – but transparency and trust still matter. Open conversations about money are the foundation for any long-term relationship.' It's not hard to understand why many millennials and Gen Z are prioritising financial freedom. Even though 44% of Brits surveyed said they would reconsider a relationship if their partner tried to control their finances, it's not that easy to get out of a relationship where one person controls all finances. Economic abuse is a legally recognised form of domestic abuse and data reveals that it's a growing threat to women in the UK. According to the charity Surviving Economic Abuse (SEA), 15% of women in the UK experienced economic abuse in 2024, equating to over four million victims. Economic abuse is when a partner or ex-partner takes control of someone's access to money, finances and things that require money including education, transport, food and shelter. This lopsided financial dependence is meant to limit a partner's freedom and ability to leave the relationship. It's no surprise that finances are a key concern when it comes to dating and relationships, especially for women. The consequences of entering and leaving an economically abusive relationship can be a lifetime of financial instability, due to crippled credit ratings and large amounts of debt.
Scotsman
15-05-2025
- Business
- Scotsman
Need for finance among Scottish small businesses hits eight-year peak
The percentage of Scottish small businesses that rely on finance or funding to invest in business growth has reached an eight-year high - and those most in need of it are the enterprises predicting significant expansion for the months ahead, according to new research by Novuna Business Finance. Sign up to our Scotsman Money newsletter, covering all you need to know to help manage your money. Sign up Thank you for signing up! Did you know with a Digital Subscription to The Scotsman, you can get unlimited access to the website including our premium content, as well as benefiting from fewer ads, loyalty rewards and much more. Learn More Sorry, there seem to be some issues. Please try again later. Submitting... · 51% of small businesses will ditch growth plans if they are unable to secure funding · Direct impact this summer on job creation across Scotland · Scottish small business most likely in UK to suspend launching new products and services if they are unable to secure funding Advertisement Hide Ad Advertisement Hide Ad Joanna Morris, Novuna Business Finance The nationwide poll of 1,242 small business owners revealed that 51% of Scottish business owners said they would have to put one or more growth projects on hold in the coming months if they were unable to secure funding or finance to power their growth plans. The growth initiative that is most likely to be affected is investing in the launch of new products and services (34%) – the highest figure in the UK, compared to the national average of 25%. Across Scotland, 31% of small business owners said they would put on hold plans to hire new staff if they were unable to secure funding – whilst others would put off plans to run an advertising campaign or halt their plans to invest in new production lines or machinery. The growth initiatives Scottish small businesses are most likely to put on hold if they were unable to secure funding Launch new products/ services 34% Increase headcount/ hire new people 31% Run a marketing/advertising campaign 26% Invest in new production lines/ machinery 16% Invest in new vehicles 16% Launch into new markets outside the UK 6% Modernise IT capability/purchase new IT equipment 9% This reliance on finance comes at a time when the ripple effect of geo-political disruption is making it harder for small business owners to forecast organic growth. Nationally, the percentage of UK small business owners predicting growth for the three months to the end of June has fallen to a four-year low (29%) – with significant falls in the manufacturing, construction and retail sectors. Advertisement Hide Ad Advertisement Hide Ad The Novuna Business Finance research also dashes any assumption that access to finance is the preserve of business start-ups. Rather, the Novuna data suggests that established and successful businesses were those most in need of funding to turbo-charge existing growth plans. For example, enterprises that predicted significant expansion over the next three months were far more likely to need funding to power growth than those enterprises trying to overturn contraction (90% Vs 57%). Also, established small businesses with a turnover of £1-10 Million were more likely to need finance than start-ups with a turnover of less than a £1 Million (66% VS 55%). Joanna Morris, Head of Insight at Novuna Business Finance commented: 'Our research makes clear the immediate and tangible impact of Scottish small businesses not securing funding – job creation put on hold, product innovation delayed and plans to modernise machinery cancelled. All this directly contributes to the economic growth – and this is why supporting small businesses at this critical time is so important.
Yahoo
13-05-2025
- Business
- Yahoo
Half of adults have an emergency break-up fund their partner doesn't know about, poll shows
Half of British adults admit they have set aside money specifically in case their relationship breaks down – without telling their partner, a new survey has shown. The poll, which looked at the money habits of people in relationships, also showed more than a third (39 per cent) had kept bonuses secret, while 40 per cent saw overspending from their significant other as a big red flag. The most notable trend, however, was those having secret savings accounts as a failsafe - with the average amount held within those accounts totalling £4,739. Research by Censuswide, on behalf of personal finance firm Novuna, found that 43 per cent of respondents admitted not telling the full financial truth to their partners - though at the same time, the average couple discuss money matters seven times a month. 'Our research reveals how love and money are evolving in modern Britain, with millions quietly building 'independence funds' – as a financial safety net,' Theresa Lindsay, chief marketing officer at Novuna told The Independent. 'While younger generations are embracing joint financial planning more than ever, they're also leading a movement towards financial autonomy and honesty. It's not about mistrust – it's about empowerment, preparedness and having open conversations about money from the start.' That openness is reflected in the fact 89 per cent of respondents felt 'financially compatible' with their partners. However, it hasn't stopped an element of self-spending or taking place without letting the other person know. A third (33 per cent) admitted buying treats or frivolous spending without telling their partner and 51 per cent had savings or investments the other person had no idea about. Gen-Z and Millennials were the age groups who were most likely to have the just-in-case breakup fund, yet 25- to 34-year-olds were more likely to have fully merged finances with their partner than over 55s. 'There's a quiet shift happening in relationships today – financial independence is becoming just as important as emotional connection,' Ms Lindsay added. 'While many couples are still working together to build their future, more people are also putting individual safeguards in place, just in case.'
The Independent
13-05-2025
- Business
- The Independent
Half of adults have an emergency break-up fund their partner doesn't know about, poll shows
Half of British adults admit they have set aside money specifically in case their relationship breaks down – without telling their partner, a new survey has shown. The poll, which looked at the money habits of people in relationships, also showed more than a third (39 per cent) had kept bonuses secret, while 40 per cent saw overspending from their significant other as a big red flag. The most notable trend, however, was those having secret savings accounts as a failsafe - with the average amount held within those accounts totalling £4,739. Research by Censuswide, on behalf of personal finance firm Novuna, found that 43 per cent of respondents admitted not telling the full financial truth to their partners - though at the same time, the average couple discuss money matters seven times a month. 'Our research reveals how love and money are evolving in modern Britain, with millions quietly building 'independence funds' – as a financial safety net,' Theresa Lindsay, chief marketing officer at Novuna told The Independent. 'While younger generations are embracing joint financial planning more than ever, they're also leading a movement towards financial autonomy and honesty. It's not about mistrust – it's about empowerment, preparedness and having open conversations about money from the start.' That openness is reflected in the fact 89 per cent of respondents felt 'financially compatible' with their partners. However, it hasn't stopped an element of self-spending or taking place without letting the other person know. A third (33 per cent) admitted buying treats or frivolous spending without telling their partner and 51 per cent had savings or investments the other person had no idea about. Gen-Z and Millennials were the age groups who were most likely to have the just-in-case breakup fund, yet 25- to 34-year-olds were more likely to have fully merged finances with their partner than over 55s. 'There's a quiet shift happening in relationships today – financial independence is becoming just as important as emotional connection,' Ms Lindsay added. 'While many couples are still working together to build their future, more people are also putting individual safeguards in place, just in case.'
Yahoo
02-05-2025
- Business
- Yahoo
Luminous Energy secures £5.5m development facility from Novuna Business Finance
Luminous Energy has signed a £5.5 million three-year development finance facility with Novuna Business Finance to support its international development pipeline and corporate operations, the company said in a press release. The UK-based renewable energy and battery storage developer said the funding will aid its transition from a pure-play developer to an independent power producer (IPP). The company highlighted the 'optionality and flexibility' of the facility as central to its broader funding strategy. The deal allows Luminous to allocate funds across both development-stage projects and overheads in multiple jurisdictions, including Australia, the United States and Germany. As part of the agreement, Novuna has taken security over Luminous's UK distribution-connected solar development portfolio. This includes Bracon Ash, a project recently brought online and previously backed by Novuna through senior debt financing. Three key features of the funding facility are: Global deployment: Funding can be used across geographies, not limited to UK assets. Flexible repayment: The facility can be repaid and redrawn over the term. Asset adaptability: Due diligence is only required when funds are drawn, up to the £5.5 million limit. Luminous's Chief Investment Officer Guy Laverack said the arrangement 'underscores Novuna Business Finance as a serious player in the emerging development finance space', noting the company's continued support at both corporate and project levels. Novuna's Head of Sustainable Energy, Philippe Bazin, said flexibility was 'key to getting the deal over the line', and that the facility would allow Luminous to pursue its strategy of expanding renewable energy globally. "Luminous Energy secures £5.5m development facility from Novuna Business Finance" was originally created and published by Leasing Life, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
