Latest news with #NovunaBusinessFinance
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
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
Scotsman
02-05-2025
- Business
- Scotsman
Luminous Energy secures three year £5.5m development finance facility with Novuna Business Finance
Luminous Energy, a leading UK-based renewable energy and battery storage developer, has successfully signed a three year £5.5m development finance facility with Novuna Business Finance. This strategic financial arrangement will support the company's global development pipeline and wider corporate overheads as it transitions from a pure play developer to an independent power producer (IPP). Sign up to our daily newsletter – Regular news stories and round-ups from around Scotland direct to your inbox 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... Luminous values the finance facility agreed with Novuna Business Finance for the optionality and flexibility it provides, making it a key component of the company's broader strategic funding arrangements. To provide the facility for the development phase on a global scale, Novuna Business Finance has taken security over Luminous's UK distribution-connected solar development portfolio, which includes the recently energised Bracon Ash, a project for which Novuna has already provided senior debt funding. Three notable aspects of the funding agreement include: Advertisement Hide Ad Advertisement Hide Ad User (UGC) Submitted Global flexibility: The ability to use the funding across both development and overhead needs on a global basis – in Australia, US and Germany, and not only limited to the UK. Repayment and redraw flexibility: The facility offers flexibility to repay and redraw funds over the term. Facility adaptability: The facility offers flexibility with assets, requiring due diligence only when drawn against, up to a committed facility of £5.5m. Guy Laverack, Chief Investment Officer, at Luminous Energy Group: 'This facility represents a continuation of the excellent working relationship originally established through the senior debt financing of Bracon Ash. It underscores Novuna Business Finance as a serious player in the emerging development finance space, which has seen limited competition to date. Additionally, it highlights Novuna's confidence in Luminous and their willingness to support our business at both a corporate and development level as we pursue our IPP strategy over the medium term." Advertisement Hide Ad Advertisement Hide Ad
Yahoo
17-03-2025
- Business
- Yahoo
Novuna Business Finance partners with BBB for green asset finance pilot
Novuna Business Finance has announced a partnership with the British Business Bank (BBB) to pilot a green asset finance variant of the Bank's Growth Guarantee Scheme. The initiative is designed to support smaller businesses in accessing funding for green assets that facilitate the transition to a low-carbon economy. The pilot will focus on financing assets such as electric vehicles (EVs), EV chargers, solar photovoltaic panels, heat pumps, wind turbines, battery storage systems, and biomass. Leveraging the existing infrastructure of the Growth Guarantee Scheme, the programme aims to increase the availability of affordable finance for businesses investing in sustainable technologies. The launch comes as small businesses place greater emphasis on sustainability. Novuna Business Finance research found that 88% of SMEs consider sustainability more important at the start of 2025 than a year ago. Similarly, the British Business Bank's Small Business Finance Markets report highlighted that 53% of smaller businesses are prioritising environmental sustainability over the next year. Geoff Maleham, Managing Director of Novuna Business Finance, said: 'We are proud to be working with the British Business Bank as their chosen lender on this innovative pilot. At Novuna Business Finance, sustainability is at the heart of our business, and we are committed to supporting SMEs in their journey towards Net Zero.' The Growth Guarantee Scheme, facilitated by the British Business Bank and delivered through its accredited lenders, provides facilities of up to £2 million to businesses that might otherwise struggle to secure financing. Launched on 1 July 2024, it supports various financial products, including term loans, overdrafts, asset finance, invoice finance, and asset-based lending. Novuna is a trading name of Mitsubishi HC Capital UK PLC. "Novuna Business Finance partners with BBB for green asset finance pilot" 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.
