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Health and Beauty Industry Set to Be Revolutionised by New Technology

News Desk

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04/05/2023

Health and Beauty Industry Set to Be Revolutionised by New Technology

Using the latest AI technology, a groundbreaking tool has been developed that is set to transform health and beauty businesses worldwide.

Digital Aesthetics, a digital marketing agency specialising in the health and beauty industry, has announced the launch of their new AI-powered platform. This platform will provide advanced analytics and predictive capabilities for health and beauty businesses.

The partnership with Social Media Status, a predictive analytics and AI software company, is the first of its kind for the UK’s health and beauty sector. It will provide insight into customer behaviour and preferences, allowing businesses to make informed decisions about their online marketing activities.

The platform will be able to accurately predict future bookings and enquiries, as well as traffic from Google search and social media sources. This game changing technology will give business owners more control over their online presence, helping them stay ahead of their competition.

“We have been striving since 2007 to find smart solutions for the needs of our clients. We are thrilled to be able to introduce next generation marketing technology to the health and beauty industry,” said Kostas Alekoglu, Managing Director at Digital Aesthetics.

“This platform will allow clinic and brand owners to make better informed decisions about their online marketing activities.”

Digital Aesthetic’s platform also provides detailed analysis of customer reviews, allowing businesses to get a better understanding of what customers think about their products or services. With this data, companies can develop strategies for improving customer satisfaction levels in order to increase sales.

In addition, the platform can help businesses identify trends in the market that could lead to increased revenue opportunities. By recognizing these trends early on, companies can capitalize on them before they become saturated with competitors.

This new AI-powered platform is poised to revolutionise the health and beauty industry by providing businesses with unprecedented access to advanced analytics and predictive capabilities. With this technology at their fingertips, companies can gain an edge over their competition while providing customers with a superior experience.

Things to Know Before Getting Car Finance

Blog

News Desk

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04/05/2023

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Things to Know Before Getting Car Finance

So, you’ve finally got your driving license and want to treat yourself to a nice car? Maybe, your old car no longer serves your needs and you’re looking for a decent upgrade? No matter the reason, you definitely want to get the best deal without going broke. If you have enough money to purchase the car of your dreams, you may consider yourself lucky. You can grab the keys and start testing your purchase on the roads of your city. Still, if you don’t have money to pay upfront, you can rely on some financing options that may help you become a happy owner of a new car faster.

Car loans

It’s a rare person who can afford to pay all at once for their new vehicle. And purchasing a car on finance makes it possible to spread the whole amount over a more manageable period. Depending on your current financial situation and down payment, you can choose the repayment terms you’re most comfortable with and pay off your loan monthly.

The good news is that today you don’t need to physically visit financing companies and submit the required paperwork in person. You can enjoy more flexibility and convenience offered by online car finance. You can quickly finance the vehicle you’ve got your eye on and own it outright. And you don’t even need to leave your home for that!

If you choose your lender wisely, chances are you won’t encounter any difficulties. Just make sure to stick to your payment schedule and allocate your money accordingly. With this in mind, loan only as much as you know you can afford to pay back.

There are a lot of other things you need to know to get the best lending terms. So, go on reading.

Explore the available options

As it has been noted, it is easier than ever before to get a car loan. If you’re on the lookout for a reliable, no-strings-attached car financing option, consider getting a car loan from a credit union, bank, or any other authorized financing company. Not only is it convenient but also safe and not heavy on your wallet.

If you want to get the best offer, you should definitely shop around. Invest some time in comparing payment terms and interest rates from local lenders to figure out what suits your needs. Don’t forget about online loans, which can save you a lot of time and effort. Just make sure to get the necessary information on financial planning, lending terms, and criteria, and help you process your application within the shortest time frame.

Banks. Banks have long been the first go-tos of people eager to finance their new or used cars. The majority of big banks offer fast car loans to their clients and even have handy loan calculators on their websites to help them figure out the ballpark amount they might need to pay. Previously, you would need to call your bank and apply for the loan in person. But today, you can do this online, provided your loan size doesn’t exceed a specified limit.

Credit Unions and Loan Platforms. Similarly to banks, these institutions make loans, accept deposits, and help their customers perform other financial operations. Still, in the majority of cases, they do this faster and offer more convenient options to their clients. Loan platforms that specialize in lending can quickly match you up with the right loan provider so that you can borrow the required sum in the blink of an eye.

Normally, credit unions and loan platforms offer loans at lower interest rates, which makes them more popular car finance options.

Car Dealers. Car dealerships may also help you finance the vehicle – new or second-hand – if you get it from them. If you’re looking at this option, be sure to weigh up all the pros and cons carefully. Most of the time, car dealers offer higher interest rates and less pleasant lending terms.

The size of the Loan

If you’re eligible for a big loan, it doesn’t necessarily mean you should get one. You don’t want to be overburdened with hefty monthly payments, so the best bet would be to go for the loan size you’re most comfortable paying back. You also would be well-advised to factor in maintenance-related expenses, insurance costs, fuel, MOT tests, etc. before deciding on your loan size.

Repayment period

It’s up to you to choose the repayment period. But before you agree on a period, you want to review your current situation and try to make some tentative prognoses regarding your future paying capacity. If your loan doesn’t exceed €30,000, you may want to spread your payment over no more than 3 years. In some cases, you may need to go for a 5-6-year period, though. It’s also good to know that today a lot of banks don’t impose any penalties for extra repayments or paying off the loan in full.

Wealth of Geeks guide offers offline and online money-making options

Finance

Sam Allcock

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03/05/2023

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Wealth of Geeks guide offers offline and online money-making options

Personal finance experts have revealed that hard-up Americans could earn an additional $30 per session by donating blood plasma, while also performing a good deed. Blood plasma is required to make medications for people with blood clotting issues, and Americans can safely donate several times a month. The personal finance blog, Wealth of Geeks, has included this unusual income idea in a guide of 41 ways to make quick money for those who are experiencing financial difficulties.

Michael Dinich, the personal finance expert and founder of Wealth of Geeks, said that many people believe that the only way to make extra money is online. However, the guide lists many ways to generate additional income without the need for a phone or computer. Dinich suggests that donating blood plasma is an unusual way to make money while doing a good deed.

The Wealth of Geeks guide also includes offline income-generating activities, such as washing cars, selling items from home, pet care, starting a dog-walking company, or providing support to an established dog-walking company. The Rover app is also recommended as a means of securing dog-walking or pet-sitting gigs.

The guide points out that many people require assistance around the home or office with tasks such as furniture assembly, garage or garden clearing, shopping, appointments, or lawn mowing, and that there is an endless list of possibilities.

Michael added that there are many individuals who need this type of assistance, and people should get their name out there and begin working. He also stated that the guide has something for everyone, ranging from completing online surveys to driving for Uber or even flipping cars.

The Wealth of Geeks blog aims to make personal finance enjoyable and provides advice and tips on potential side hustles, money management, as well as fun aspects of travel, food, and favourite TV programmes and movies.

Catch the live interactive show, Murder Trial Tonight, on its UK and Ireland tour

Entertainment

Sam Allcock

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03/05/2023

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Catch the live interactive show, Murder Trial Tonight, on its UK and Ireland tour

Tigerslane Studios, an immersive theatre and production company based in London, have announced tour dates for their new production, Murder Trial Tonight. This thrilling new interactive show brings previous true-story murder cases to the stage, giving audiences insight into the trial process.

Tigerslane Studios creates thought-provoking shows, including true crime courtroom thrillers and original plays, that aim to challenge the audience’s understanding of society and their place within it. They write and produce their bespoke theatre productions in-house, with the goal of providing a unique and exciting experience that fully immerses the audience in the story.

Murder Trial Tonight is a first-of-its-kind production that allows the audience to experience a fast-paced murder trial in a dramatic courtroom setting. The show begins on a screen, introducing the crime and setting the tone for the story. Then, the performance moves to the stage for a live, intense courtroom drama.

During the live courtroom performance, the audience becomes members of the jury and actively participates in the show’s immersive element. The prosecution and defence present their cases and cross-examine the witnesses. After the trial, the audience deliberates and delivers their verdict. Finally, a video of the murder is shown, revealing the true killer.

Murder Trial Tonight offers a unique theatre experience full of twists and turns. The show also acts as a social experiment, allowing audience members to experience the murder trial process and what it’s like to be a member of a jury that decides the fate of a person charged with murder.

Tigerslane Studios has announced the tour dates for season one of Murder Trial Tonight, featuring The Jones Murder Trial, a story of a husband charged with his wife’s murder. The show opens on June 23rd at Big Sky Studios in London and runs until July 2nd in Cork, Dublin, and Belfast. The production of season two, The Julie Banks Murder Trial, is currently in progress.

To check showtimes and ticket availability, visit www.murdertrialtonight.com.

In addition to Murder Trial Tonight, Tigerslane Studios has two other productions in the works: A Night on Wall Street and Pablo Escobar’s Court Trial. A Night on Wall Street is a social extravaganza that combines the frantic atmosphere of a Wall Street trading pit with an outrageous party inspired by The Wolf of Wall Street. Pablo Escobar’s Court Trial is a live court trial set in a New York courtroom that features the infamous drug lord as the defendant. The show offers a disturbing look into the life of Pablo Escobar and his drug trafficking empire. The audience will hear from witnesses, including his henchmen, drug traffickers, DEA officers, victims, and the man himself – Pablo Escobar.

For more information on Tigerslane Studios and their upcoming productions, visit https://tigerslanestudios.com/.

Study shows living near trees increases your life expectancy!

Environment

Danielle Trigg

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03/05/2023

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It’s official: the secret to living a longer and healthier life is right outside our door – in the trees! A groundbreaking study conducted by the Barcelona Institute for Global Health (BIGH) has revealed that living in areas with more trees can dramatically lower your risk of premature death. So how can a bunch of trees be good for your health?

The study was inspired by the work of the Friends of Trees charity in Portland, Oregon. Over the course of three decades, they managed to plant an incredible 49,246 trees! The BIGH scientists were curious to see just how much of an impact this massive tree-planting campaign had on the health of Portland’s residents.

After examining all the data and factoring in relevant socioeconomic factors, the results were clear – people who live near trees are healthier and live longer lives. The study found a significant reduction in non-accidental and cardiovascular disease-related (CVD) deaths. The data shows that for every 12 trees planted, over 20 lives are saved each year – that’s pretty amazing stuff!

So, what makes trees so good for us? For starters, they’re great for our lungs. Trees absorb pollutants and produce oxygen, which means cleaner air for us to breathe. This can help reduce the risk of respiratory diseases such as asthma and COPD.

But the benefits don’t stop there. Being around trees can help reduce stress levels and improve our mental health. Spending time in nature can lower our levels of the stress hormone cortisol, making us feel happier and more alert.

And that’s not all – trees also provide shade, which can help prevent skin cancer and create a great environment for outdoor exercise. So, the next time you’re feeling a little down, why not take a walk in the park and soak up some of these tree benefits?

With so much evidence pointing to the positive impact of trees on our health, it’s no wonder that more and more people are calling for more trees to be planted in our towns and cities. Take Manchester, for example. Despite being a vibrant and bustling city, it’s one of the few cities in the UK that hasn’t made the list of Tree Cities of the World. This is something that tree surgeons in Manchester have been campaigning to change for years.

Of course, one of the concerns about planting more trees in public spaces is how to care for them properly. Professional tree surgeons can definitely help with this. These unsung heroes of the natural world are experts in caring for trees and ensuring they thrive in our urban environments. They understand the importance of trees and the role they play in keeping us healthy and happy.

More specifically, the tree surgeons in Manchester are already experts in the natural environment of trees in our city. This is yet another example where policymakers should consult and work together with local business to create a more self-reliant and sustainable local circular economy.

But the study has more implications for policymakers. It suggests that the presence of trees should be taken into account when planning urban areas and infrastructure projects. Trees should not be seen as just a cosmetic addition to a city, but rather as an essential component of a healthy, vibrant community.

The benefits of trees are clear, but unfortunately, not everyone has equal access to them. In many cities such as Manchester, low-income areas are often lacking in green spaces and trees. This is especially true of Harpurey, Monsall and Ardwick which are polluted and in need of more green spaces and trees.

Policymakers must work to address this issue and ensure that all communities have access to the health benefits of trees. This can be done through targeted tree planting and green space initiatives in underserved areas, as well as policies that prioritise the needs of these communities in infrastructure projects.

Individuals can also play a role in promoting the benefits of trees. They can plant trees in their own gardens, support local tree planting initiatives, and advocate for more green spaces in their communities. By working together, we can create healthier, more vibrant communities for everyone.

The study by the Barcelona Institute for Global Health has confirmed what we have long suspected – that trees can have a lasting impact on an individual’s health and longevity. By planting more trees, policymakers and individuals can help create healthier, happier communities for generations to come. With the help of organisations like Friends of Trees and the hard work of tree surgeons, we can make sure that more and more people can enjoy the benefits of trees for years to come. So, go out and hug a tree today – your health will thank you for it!

Solving Problems with Design Thinking: Emphasising Empathy, Experimentation, and Collaboration

Blog

Danielle Trigg

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03/05/2023

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Solving Problems with Design Thinking: Emphasising Empathy, Experimentation, and Collaboration

How important is the design of a product or service? In one word: very. The quality of our experience as users depends on the work of designers, as that is what will mark if we have a positive interaction with the product/service or if it ends up being a frustrating experience that draws us away from it.

Let’s learn more about the definition of design thinking and its most important process steps and techniques.

Design thinking is an approach referring to the creation of a product or service that focuses on the needs and pain points of users. The primary goal of design thinking is to provide the best user experience possible. Thanks to its innovative nature, design thinking does not apply solely to product design. In fact, design thinking can be applied in different contexts, such as social impact.

This approach relies on a set of principles that help you achieve the best solutions:

Empathy
User-centricity
Creativity
Experimentation
Collaboration
Iteration

As for the process of design thinking, we can sum it up in six essential steps:

Empathise
Define
Ideate
Prototype
Test
Implement

Design thinking is vital in developing any product or service because it improves the user experience, which draws more customers to your business. Furthermore, it encourages the search for innovative and creative approaches to problem-solving, making you unique, and helps reduce the risk of failure by implementing regular testing based on customer feedback.

What about Empathy? Empathy is both a principle and a step of the process because it plays a vital role in design thinking. It allows designers to understand the needs, preferences and even behaviours of customers. That helps them design a product that makes sense to the users and is, thus, useful to them.

Some ways in which designers can empathise with users and gain knowledge about them is by observing their interaction with a product or service in their natural environment, conducting interviews, performing surveys, and blending in with the users by working or living with them for some time.

Defining the problem is what will guide the designers towards the best solutions. Failing to address this step increases the risk of wasting resources on irrelevant solutions that do not fix critical user pain points.

To identify the problem, designers rely on user research to collect information on user needs and pain points and problem-framing to try and identify the root cause of the issue.

Stakeholder analysis is another strategy designers employ. It provides data not only about the user but also about the employees, suppliers, and investors. Meeting the expectations of the broader community creates a positive impact and helps ensure the success of the product or service.

After collecting data from everyone involved in the product or service development, designers present the problem they are trying to solve in problem statements and then create a design brief containing a framework for the design solutions.

Ideation is essential, as it is the process of generating innovative ideas for solving problems in the context of design thinking. That can be achieved by assembling a group and sharing every idea that comes (traditional brainstorming), having each group member share an idea and the rest of the team provides feedback and builds on it (round-robin brainstorming), or generating problems rather than solutions to identify potential challenges (reverse brainstorming).

Besides brainstorming techniques, you can also employ mind mapping, in which you pick a central theme or idea and develop other related ideas to generate more solutions, or the SCAMPER technique – Substitute, Combine, Adapt, Modify, Put to another use, Eliminate and Reverse – that consists of taking an existing idea and adding new concepts that slightly change it to generate new ideas.

In the end, you select the best ideas and refine them into actionable solutions.

Design thinking is a thought process that helps designers generate ideas. It is set on empathising with the users and combines a user-centric approach with innovation, experimentation and collaboration. Apply design thinking techniques to optimise the design of your product with the help of experts from a UX design agency and ensure your customers get the best user experience.

Pareto Financial Planning Named One of UK’s Top Financial Advisers to Work For

News Desk

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03/05/2023

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Pareto Financial Planning Named One of UK’s Top Financial Advisers to Work For

Award-winning Manchester based financial services business, Pareto Financial Planning, today announced that it has been named as one of the best financial planning advisers to work for in the UK, a project from Professional Adviser and Best Companies Group.

This industry-wide survey and awards programme honours the best places of employment in the financial services industry. Financial planning businesses from across the UK entered the two-part process to determine the Best Financial Advisers to Work For. The first part consisted of evaluating each nominated company’s workplace policies, practices, and demographics, while the second consisted of an employee survey to measure the employee experience.

Pareto Financial Planning scored highly across all categories evaluated with particularly impressive results in the corporate culture and communications, training, development and resources and leadership categories.

Paul Stones, Managing Director, Pareto Financial Planning, said: “We put a great deal of effort into providing a working environment and culture that produces the best outcomes for not only our employees but also our clients. To be recognised by the industry as a leader and one of the best financial advisers to work for is fantastic. It’s a massive team effort, this award is for everyone at Pareto,”

Pareto Financial Planning’s team, which is now in excess of 70, grew turnover by 22% and exceeded £1 billion of assets under its management in the financial year 2021/22. Pareto Financial Planning was awarded “Best Nationwide Independent Financial Advisory Firm – UK” by SME News in 2022 and celebrates its 15 year anniversary this month.

Chamber Will Combat “Green” Employment Gaps With Local Skills Strategy

News Desk

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03/05/2023

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Chamber Will Combat “Green” Employment Gaps With Local Skills Strategy

Greater Manchester Chamber of Commerce is calling on businesses to help tackle skills shortages by contributing their views to the region’s Local Skills Improvement Plan (LSIP), which aims to make the skills system more responsive to the needs of employers.

As the designated Employer Representative Body for the Greater Manchester LSIP, which is funded by the Department for Education, the Chamber is tasked with mapping out where the main skills shortages are in each sector and borough of Greater Manchester. It will then work with skills providers, employers and relevant stakeholders in each area to address the skills shortfalls through relevant training and courses to provide businesses with the skilled workers they need.

Currently, the Chamber is asking businesses to tell them about shortages in green and net zero skills. The city region’s environmental vision is to be carbon neutral by 2038, so many businesses will be taking action to do what they can to reduce their carbon footprint, however, many may struggle to find the skilled workers they need to help fulfil their green ambitions.

Chris Fletcher, Contract Director for the Greater Manchester LSIP and Policy Director at Greater Manchester Chamber of Commerce, said:

“From what businesses are telling us so far, there are some clear trends emerging of where the main skills gaps are. However, now we need to find out how ready businesses are to do their bit to reach net zero, and if they are ready, whether there are enough people out there who can make these plans a reality.

“Our green skills survey will capture which skills are in short supply and what measures businesses are taking in order to retain staff who have those skills. This information will help inform the LSIP which in turn will inform the skills provision implemented in each local authority area.

“We are extremely grateful to the businesses who have already shared their views about skills shortages and recruitment problems in their sectors, but now’s the time to talk about green skills and make sure Greater Manchester is ready to supply the skilled workers we need to meet our environmental objectives.”

Businesses large and small and from all sectors across Greater Manchester are invited to complete the Chamber’s short survey designed to understand where the green skills gaps are. The survey can be accessed here.

For more information about the Greater Manchester Local Skills Improvement Plan, visit the website: https://www.gmlsip.co.uk/

JD.com Announces Its Q4 and Full-Year 2022 Results

Blog

Sam Allcock

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03/05/2023

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JD.com Announces Its Q4 and Full-Year 2022 Results

China’s largest online retailer and internet company by revenue JD.com has released its financial results for the fourth quarter and full year of 2022. The figures demonstrate the company’s growth and strong cash flow. Annual revenues exceeded RMB 1 trillion yuan ($151.7 billion) for the first time.

Richard Liu founded JD.com in Beijing in 2004. Today, the technology-driven company’s nationwide logistics network is unrivaled in China. This network serves a population of over one billion and offers a vast range of products, from electronics and cosmetics to clothing and groceries.

JD.com’s 2022 in Review

Overall, 2022 was a successful year for JD.com with impressive full-year financial results and a strong performance across its retail, health, logistics, property, and industrial divisions.

Double-Digit Growth in the Fourth Quarter of 2022

JD.com saw double-digit year-on-year growth in daily active users during the fourth quarter of 2022. The online retailer also experienced an upward trend in user structure and user quality. This upward trend resulted in increased shopping frequency and average revenue per user.

The company’s paid membership JD PLUS also saw a rise in numbers during this period, reaching 34 million. Research conducted by the company has revealed that JD PLUS members spend an average of eight times per annum more than non-members.

Full-Year Earnings Highlights

JD.com’s full-year net revenues for 2022 were RMB 1,046.2 billion ($151.7 billion), a 9.9% increase from 2021. The company’s net product revenues increased by 6.1% in 2022. Full-year net service revenues surged by 33.3%.

JD.com’s non-GAAP (generally accepted accounting principles) net income attributable to ordinary shareholders was RMB 28.2 billion ($4.1 billion), an increase from RMB 17.2 billion in 2021.

The company’s operating cash flow for 2022 was RMB 57.8 billion ($8.4 billion), compared to RMB 42.3 billion in 2021. Free cash flow (excluding the effect of JD Baitiao receivables in the operating cash flow) for 2022 was RMB 35.6 billion ($5.2 billion), up from RMB 26.2 billion in 2021.

Environmental, Social, and Governance Accomplishments

In the fourth quarter of 2022, JD Logistics (JD’s integrated supply chain solutions and logistics services division) deployed its hydrogen energy trucks at Amway’s production base in Guangzhou. This move has contributed to achieving “zero carbon” emissions for transportation along Amway’s supply chain.

In addition, JD Logistics reached agreements with an internationally renowned automobile manufacturer to deploy a fleet of electric trucks. This collaboration has helped JD Logistics achieve “100% electrified” transportation in China.

During the resurgence of Covid-19 in December 2022, over 1,000 JD couriers from across China arrived in Beijing. These couriers volunteered their time to ensure the availability of daily essential supplies.

In addition, JD Logistics used around 100 autonomous vehicles to connect communities with delivery stations. The company also used these vehicles to provide contactless services, improving last-mile delivery efficiency. The autonomous vehicles proved particularly valuable in supporting JD Health’s nighttime medication delivery.

JD.com is proud to have been recognized in the Bloomberg Gender-Equality Index (GEI) for the first time in January 2023. This listing made JD.com the only China-based company in the retail industry included in the index. The GEI is a significant acknowledgment of JD.com’s advancements in promoting diversity and inclusivity.

About JD.com Founder Richard Liu

Richard Liu is the chairman and former CEO of JD.com. Under his leadership, JD.com has become China’s largest online retailer and its biggest overall retailer and the world’s third-largest internet company by revenue. JD.com was the first Chinese internet company to join the Fortune Global 500.

Richard Liu’s pioneering approach to retail, logistics, telemedicine and more areas has benefited millions of families in China and worldwide. His efforts to embrace cutting-edge innovations have led the company transform into a leading supply chain-based technology and service provider which aims to open its technology and infrastructure to partners, brands and other sectors, as part of its Retail as a Service offering to help drive productivity and innovation across a range of industries.

Read JD.com Founder Richard Lui’s story.

145,000 Bounce Back Loans Worth £3.8bn in Arrears as Businesses Fight Tough Economic Climate

News Desk

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03/05/2023

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145,000 Bounce Back Loans Worth £3.8bn in Arrears as Businesses Fight Tough Economic Climate

Purbeck Personal Guarantee Insurance, the UK’s sole provider of personal guarantee insurance (PGI) to small business owners, recently completed a Freedom of Information request to the British Business Bank, revealing the current level of debt and arrears associated with the Bounce Back Loan Scheme (BBLS), The Coronavirus Business Interruption Loan Scheme (CBILS), and the Recovery Loan Scheme (RLS).

Purbeck’s analysis shows that over 145,000 BBL loans worth £3.8bn are in default as businesses continue to battle economic headwinds.

The findings come as latest estimates show that of £47 billion paid out in Bounceback Loans, £17 billion is already expected to be lost, £4.9 billion of that – over 10% of the loans – to fraud.

9% of Bounce Back Loans are currently in default, down fractionally from 12% in July 2022 with the average loan in default standing at £26,571.

While there are fewer CBILS loans in default – under 2% – this is a small rise on July last year when 1% of loans were in default. The average amount owed is £175k, from £164k in July 2022.

The analysis has also uncovered that businesses are typically borrowing £210k under the Recovery Loan Scheme which is open for applications until June 2024, and the average personal guarantee commitment made by business owners to secure a loan under the Scheme is £472k.

Bounce Back Loans default statistics:

29,087 loans in 30 days+ month arrears (£714 million)
115,916 loans in 90 days+ month arrears (£3.139 billion)
Average loan that is in debt is £26,571
There were 1,560,309 loans in total (£47.36 billion)

CBILS default statistics:

706 loans in 30 days+ month arrears (£124 million)
1,288 loan in 90 days+ month arrears (£226 million)
Average loan that is in debt is £175,551
There were 109,887 loans in total (£26.39 billion)

RLS loan statistics:

21,109 loans with a value of £4.450 billion. Average loan is £210k
1,992 loans supported by a personal guarantee, with a value of £940 million. Average personal guarantee backed RLS loan is £472k.

Todd Davison, MD of Purbeck Personal Guarantee Insurance said: “The fractional reduction in BBLS debt levels and increase in CBILS defaults is not overly surprising given the economic environment. The lower level of defaults in CBILS can be attributed to the 80% Government Guarantee leaving 20% the responsibility of the business owner to pay back if the business fails.

At Purbeck, we saw many CBILS applicants take personal guarantee insurance to mitigate that risk. What is very clear is that the RLS has provided a solution to those businesses seeking bigger amounts of cash but again this comes with a risk in the form of a personal guarantee.

Most forms of business funding are now requiring personal guarantees from the owner/director to mitigate the risk. It’s why in the first quarter of this year more SME owners applied for personal guarantee insurance (PGI) to mitigate the risk of business failure, than at any time previously. The number of applications for PGI for business loans was up 93% year on year in Q1 2023.”

Car loans

Explore the available options

The size of the Loan

Repayment period

JD.com’s 2022 in Review

Double-Digit Growth in the Fourth Quarter of 2022

Full-Year Earnings Highlights

Environmental, Social, and Governance Accomplishments

About JD.com Founder Richard Liu

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Company

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