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Warrington Youth Zone now open as Caddick hand over £7m scheme

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Hundreds of youngsters from across Warrington are now enjoying the social and sports facilities at the new state-of-the-art Youth Zone, recently completed by Caddick Construction.

Construction began on the £7million centre in 2020, on behalf of the national charity OnSide.

Located in the stadium quarter next to the University Technical College (UTC) off Dallam Lane, Warrington Youth Zone boasts an indoor climbing wall, 3G rooftop kick pitch, four court sports hall, dance and drama studio, training kitchen, arts and crafts space, fully equipped gym, music room with recording studio and enterprise suite.

OnSide now has a network of 14 Youth Zones across the country including similar centres in Wigan, Chorley, Bolton, Manchester, Oldham, London and Birkenhead. For just 50p per visit, they offer young people a space to enjoy a wide variety of sports, arts, learn new skills, or just socialise and have support from trained and dedicated youth workers.

Warrington Youth Zone, which has become home to the well-established Warrington Youth Club charity, is now open seven days a week with over 2,000 members registered. More than 20 activities are on offer for up to 250 young people, aged between seven and 19 or up to 25 for those with additional needs, every day.

Adam Poyner, Head of Construction for OnSide, said: “The Youth Zone looks absolutely amazing both inside and out. I would like to thank Caddick Construction for taking our designs and vision to the next level and skilfully brought this building to life.”

David McNicholl, CEO of Warrington Youth Zone, added: “It has been an exciting journey to get Warrington Youth Zone up and running, and to see the young people already in and using the facilities make it all worthwhile. We’ve been open for a few weeks now and to see it packed out every evening really is a dream come true – it’s the building and the place they deserve.

I’d like to thank all our supporters, particularly Warrington Borough Council, who have made this facility possible which will undoubtedly help improve the opportunities and life experiences of young people from across the district.”

Ian Threadgold, Managing Director of Caddick Construction NW, said: “It has been a privilege to work on this project with Onside Youth Zones. Not only is it an eye-catching landmark that has been designed to really make a statement, the facilities are just awesome and will inspire young people to try new activities that just weren’t possible before.

He added: “And this Youth Zone couldn’t have come at a better time for Warrington and its youngsters when so many hard-working families are feeling a real cost of living squeeze.”

The project team consisted of Seven Architecture, HL Engineers, Hurstwood Environmental Consulting and Walker Sime.

SER GROUP LAUNCHES INNOVATIVE EV BATTERY RECYCLING DIVISION

 

  • New Electric Vehicle (EV) battery recycling facility established in the north-west of England

Manchester-based IT recycling business The SER Group, has launched Cellcycle, a specialist battery recycling division to process and recycle the expected surge in the UK’s end-of-life batteries and manufacturing scrap. Early indications suggest around 350,000 tonnes of expired electric vehicle batteries will be recycled in the UK by 2040*.

Compliance with accreditation benchmarks has already been secured with the company holding both its Approved Battery Exporter (ABE) and Approved Battery Treatment Operator (ABTO) permits, which uniquely places Cellcycle amongst just a handful of fully accredited recycling companies in the UK qualified to treat and recycle end-of-life batteries without the need for expensive exportation.

Cellcycle’s facility will dismantle batteries before the mechanical and chemical separation recycling processes are completed. When fully dismantled and disassembled, there are several applications for the recyclable extracted raw materials – for example, cobalt can be used within the chemical industries, lithium is recycled for rechargeable batteries, copper for electrical wiring, and aluminium for cans and foils.

Cellcycle will offer a truly circular economy solution and is an important first step on the UK’s journey to create an ethical and sustainable supply chain for batteries that will be increasingly necessary when transitioning to a Net Zero future.

Gary Mo, Managing Director the SER Group comments,

“The battery market in the UK is growing exponentially and with the introduction of new legislation, the demand for battery recycling innovation in the UK is rapidly rising. Moreover, we, as a nation, will not reach carbon neutrality without increasing our investment and development of new technologies and recycling opportunities, particularly as the demand for electric vehicles increases, therefore establishing Cellcycle was a priority for us.”

Currently, most companies in the UK export their end-of-life and redundant batteries to Europe, Asia, and other parts of the world for material-level recycling and face heavy transportation costs associated with that service.

Cellcycle will now change that, according to its Battery Division Director, Jeff Borrman.

“We are aiming to provide businesses with a closed-loop battery recycling process directly here in the UK that will not only be cost effective for customers but more sustainable too.

“With a reduction in the requirement to export, transportation costs will be kept to a minimum, but more importantly, recovering valuable materials from a range of different types of batteries like lithium-ion and nickel-metal hydride whilst maintaining a zero-carbon footprint is key to progressing towards compliance with the UK’s Green Agenda.

The valuable materials that are recovered through this process will help provide manufacturers and other businesses within the UK battery supply-chain with the resources to produce new, more sustainable battery technology”

KEENANS EXPANDS WITH DEAL FOR LETTING LOCATIONS

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A north west estate and letting agent has expanded into West Lancashire with a swoop for a Preston-based business.

Keenans Group has acquired Letting Locations for an undisclosed sum.

Letting Locations, which trades as Guildhall Residential Lettings, operates from Blackpool Road in Ashton-on-Ribble and has 350 properties under management.

Its managing director Robert Shields is being retained by Keenans on a consultancy basis following the deal.

Keenans is an independent, family-owned group which until now has focused on Greater Manchester and East Lancashire, with 10 branches covering 115 postcodes. It deals with over 2,500 sales and 400 lettings per year and employs nearly 100 staff.

Matthew Catterall, a corporate partner at north west law firm Taylors Solicitors, advised Keenans on the acquisition. Andrew Tabernacle of Bishops Chartered Accountants in Blackburn and Blackpool provided accounting and tax advice.

Matthew said: “We are extremely pleased to have provided legal advice to Keenans and help ensure its successful acquisition of Letting Locations. This transaction will enable Keenans to continue its impressive growth and extend its reach into West Lancashire.”

Paul Keenan, managing director of Keenans, said: “We are delighted to have completed the acquisition of Letting Locations as part of our geographical expansion in the north west.

“The business is a great fit with our current branch network and it expands our lettings management portfolio.

“The staff have tremendous experience and are passionate about the lettings industry. Their commitment to excellence for landlords and tenants alike aligns perfectly with our ethos, and we extend a warm welcome to them as part of the group.”

He added: “The advice from Matthew and Andrew throughout the process has been invaluable, and we look forward to working with them on future acquisitions as we continue towards our growth target.”

Anthony Seddon Fund gets support to navigate pandemic and prepare for emotional handover thanks to Skills for Growth – SME Support

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Thanks to help from Skills for Growth – SME Support, mental health charity The Anthony Seddon Fund has been able to face off the challenges thrown up by the pandemic and emerge in a better position with a plan for an emotional transition at the top.

Founded in 2014 by Donna Thomas and her husband Brian after the death of their son Anthony, the Fund supports those with mental health issues in Tameside. During the pandemic, the demand for its services increased while the charity was facing issues of its own staying afloat. Last year it received The Queen’s Award for Voluntary Service, the highest award a group can receive in the UK.

It became one of the first organisations to sign up for Skills for Growth – SME Support, a fully funded business support programme designed to help Greater Manchester SMEs achieve their growth ambitions through workforce development, commissioned by the Greater Manchester Combined Authority with funding from the European Social Fund and delivered by GC Business Growth Hub in partnership with the Greater Manchester Chamber of Commerce.

CEO Donna admitted that they were struggling to cope with the increased demands for their services due to the pandemic while she was also looking to hand over the reins to her son Harry. The charity was also struggling to identify its strengths when it came to promotion for funding and claims.

“We’d never planned to start our charity,” said Donna. “We’d started to raise funds for another local charity but quickly that turned into setting up our first shop with a little corner for people to have a brew and talk to us. At that stage we didn’t even know we needed to register as a charity.

“We didn’t know what we were doing but kept growing, so eventually we reached the stage where we knew we had a responsibility to our staff to find out how to run things properly. However, paying for training when you’re a small charity is a big decision because there’s always something else you need to spend the money on, so finding free training with Skills for Growth was massive for us.

“Since we’ve done it, it’s given us a huge boost and the belief that we really can do this. We’ve learned so much and are currently in the process of creating our first ever strategy after eight years as a business. We wouldn’t be able to do any of these things if it wasn’t for the training from Skills for Growth.”

Organisations accepted onto the Skills for Growth – SME Support programme benefit from up to six months support, working alongside a dedicated Skills Coach, who provides an in-depth business diagnostic and workforce development plan tailored to achieve the business’ growth ambitions as well as being further supported to create personal employee development plans and help in finding suitable training courses.

“Having the face-to-face contact with other people who were on the same journey was really important as well as setting us a path of learning that I don’t think we’re ever going to stop doing,” said Donna. “Doing the training has also definitely helped us reflect on what we have achieved and what we’re trying to achieve in the future. We’ve got the tools now to take a step back and look at goals and how we would measure the outcomes of them to decide if it’s something we should try, or not.”

Donna and Harry took up the offer of management training which helped them to both gain the confidence and skills to achieve their goals while the Fund also received support from a Business Change Specialist who helped them to identify the strengths and impacts as well as aligning business and leadership skills to cope with the increased demand.

The Fund was also supported to obtain a grant to accommodate the need for growth to meet that demand as well as helping to protect three jobs at the charity. Now going into its 8th year, Donna and Harry are more confident than ever in terms of its future direction and the emotional transition in leadership from mother to son, while continuing to work in Anthony’s memory.

“This year has been dedicated to sorting out our own business plan and a vision for the charity, working our way through everything we need to do to be set up properly,” said Donna. “I’m working on that with Harry and that transition is in process because I’ve been able to take a step back as a trustee with him as Chief Operating Officer, taking over the day-to-day operations. I have every confidence in him taking the charity forwards and doing things the right way.”

Janine Richardson, Programme Manager, Skills for Growth said: “The pandemic proved just how important the work of mental health charities like The Anthony Seddon Fund are to our communities. Donna and Harry have been working hard behind the scenes with the help of our Skills for Growth team. Specifically, to ensure their charity could meet the increased demand and move towards an emotional handover that ensures that its future is in safe hands.”

Manchester Business Receives R&D Cash Injection With Help From Local Company

Greater Manchester business owner Paul Wilks, Director of Jigsaw Controls and kTech Manufacturing, has been offered a lifeline against rising raw materials costs with a successful R&D claim through Research and Development Specialists LTD.

 

The claim comes after a 300% rise in raw material costs in the last 12-months hit the businesses cash-flow as the price of plastic soared, and will inject a combined value of over £18,500 into the companies to aid future development and clear the impact of COVID-19, despite taking less than 3 hours of Paul’s time and saving him 3-days of business hours.
 
Jigsaw Controls, a bespoke electrical control systems company that specialise in developing solutions to customers’ problems stand to receive a £14240 cash injection and kTech Manufacturing, a leading manufacturer of electrical wiring and accessories, stand to get a £4460 injection of cash into the businesses from successful R&D tax claims with fellow Greater Manchester business RDS.  

 

Company Director Paul has seen the cost of raw plastics rise from £200 per tonne to over £800 per tonne, in the last 12 months. This, coupled with expected delivery dates going from six weeks to nearly six months, has put a squeeze on the expected growth, however, a chance meeting at an event has helped to ease business fears.  

 

Here Paul explains more about the process and how it has helped his company: 

 

“The RDS process was much slicker and required much less of my time” begins Paul, who became aware of RDS when he met business development manager, Chris Cunnane at a Greater Manchester Chamber of Commerce social event earlier in the year.  

 

“My previous claim, with a different R&D company, took nearly 20 hours of my time, which as a business owner I just don’t have readily available. This made me very sceptical about going through the R&D claim again, however, after speaking with Chris at the GMCC event, it became clear very quickly how different RDS were. As a comparison going through two claims with RDS took a total of three hours, saving me nearly 3-days.” 
 
“Chris and his colleagues spent the time getting to know both Jigsaw Controls and kTech, understanding the R&D we had done, this resulted in the time saving as they did a lot of the paperwork for me, whereas previously I spent endless hours on phone calls explaining about the R&D and my businesses. The variety of experts they have in the business meant they quickly grasped and understood what R&D we were doing”. 
 
Paul continues “In happier times the money received back from HMRC would have been put back into the business to grow it further, however with the impact of COVID still being felt the invaluable monies this time will be used to reduce the debts accrued during COVID, allowing us to start really planning for 2023 and beyond.”  
 

The HMRC tax incentive is available to any company no matter the size. It rewards those undertaking original research and development with tax credits that can either be deducted from corporation tax or if a claim is historical, claimed back as a repayment of overpaid corporation tax. The aim of the Government scheme is to stimulate innovation and boost the economy.   

 

Mark Joyner, MD of RDS, added: “We love working with and helping fellow businesses in the North-West, especially ones that have been impacted by rising raw material costs or COVID-19. Greater Manchester has always been a main hub for manufacturing and by supporting businesses who undertake research and development as well as bring jobs to the local economy we feel like we are doing a little bit to help keep the local economy growing.” 
 
“At kTech Manufacturing, Paul and his team have developed products that are easier, simpler and safer to use, then with further R&D have found ways to produce these at a cost-efficient price for the end-user. This is R&D working at its best and demonstrates exactly what the scheme was set up to achieve. 

 

“There are so many companies out there like Paul’s that could be benefitting from a cash injection. At RDS, we look to make sometimes complex processes much simpler, giving business owners like Paul peace of mind and saving them valuable time”.  

 

For more information visit https://randdspecialists.co.uk/ or call 0161 823 5281. 

Law firm expands into North West and enhances support to charities

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Leading full-service law firm Shakespeare Martineau has expanded the support it provides to charities with its newly-launched legacy administration service – helping organisations maximise the gifts they receive in wills.

Alongside interim or permanent legacy administration services, the offering provides charities across England and Wales with strategic legacy project work, legacy forecasting and budgeting, procedure reviews, and team training.

As part of the launch, the firm has a new presence in the North West with the appointment of specialist solicitor Gaynor Lanceley, who will be heading up the service and brings with her almost 20 years’ experience in legacy administration for charities.

A highly experienced solicitor who has both the STEP and Solicitors for the Elderly accreditations, Gaynor has joined Shakespeare Martineau from Catherine Higgins Law. Prior to this, she worked at Jackson Lees Group and Morecrofts Solicitors. Over the years, she has supported multiple charities, including the Yorkshire and North West air ambulance charities, and was previously a trustee for the Woodlands Hospice.

Gaynor, who will be primarily based at home in Liverpool but working with clients and teams nationally, said: “There are very few law firms in the UK that offer a legacy administration service, particularly in the midlands and the north, so this launch is a fabulous experience, venture and opportunity for us.

“I am passionate about working with charities to help them to recognise the importance of legacy income, which is growing year on year. Gifts to charity are very personal and mean so much to the donor who kindly included them in their will – the importance of even the smallest such gift should never be underestimated.

“As a solicitor, I can explain the terms set out in wills and trusts and decode legal jargon. I can answer complex tax and accounts issues, and provide updates regarding the legal administrative process. For me, this is the best job in the world and it is a privilege to be able to work with charities to maximise the gifts they receive in wills and ensure their supporters’ wishes are carried out.

“I am looking forward to supporting charities – making sure they get the gift that is intended for them in its entirety.”

Research by charity legacy consortium Legacy Foresight shows the total UK legacy income grew from £800m in 1990 to £3bn in 2020. It also estimates that legacy income will be worth £19.6bn by 2025 – climbing to £23bn in the second half of the decade.

As well as broad expertise in charity law, Shakespeare Martineau’s full-service team is able to support charities with employment law, funding and corporate advice, intellectual property considerations, and real estate advice. The team also has particular and unique expertise advising charities on contentious probate issues.

Andrew Wilkinson, partner and head of contentious probate at Shakespeare Martineau, said: “We are delighted to welcome Gaynor to the firm. Her experience, knowledge and expertise will be a real asset as we look to grow our charities and not for profit offering, starting with our new legacy administration service.”

Shakespeare Martineau is proactively seeking talented people to join the firm on its growth journey, including mergers, team recruitment and lateral hires nationally.

Generation side hustle’ has potential to help tackle some of society’s greatest social, environmental and economic challenges

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New report highlights how greater support for young, purpose-driven entrepreneurs in the North West could bring social rewards along with huge boost to struggling UK economy

A report launched today by Youth Business International in partnership with The Entrepreneurs Network has revealed the enormous potential for young entrepreneurs in the North West. Often dismissed as ‘generation side hustle’ as many pursue their business passions alongside other work, the new report is clear that these businesses could be a force for good in society.

Young entrepreneurs are creating greener businesses, promoting more responsible working practices and generating a significant boost to the economy, but only if they are given the right support to start up and grow their business.

Tomorrow’s Entrepreneurs looks at the differences between entrepreneurial behaviours of those over and under 35. Based on extensive polling of UK business owners, the report uncovers how they operate their businesses and what sets them apart, indicating the ways the younger generation runs their businesses has changed dramatically in recent years.  One of the key findings is a generational gulf in attitudes on the purpose of businesses, with entrepreneurs under 35 in the North West almost twice as likely to say their business’s primary aim is to solve a social or environmental problem (37% vs 21%) and also more likely to say their business focuses on promoting diversity and social good, even if that comes at the expense of profit (37% vs 26%.)

The younger generation of entrepreneurs is also more likely to choose suppliers that are aligned to their values, with 47% in the North West saying that they will choose suppliers which do good for society, even if they cost more or they have to compromise in another way. However, this social purpose is not incompatible with pursuing growth. In fact, the more a business turns over the more likely they are to agree that their business’s primary aim is to tackle a social or environmental problem, with close to half (47%) of entrepreneurs across the UK turning over £1m+ each year agreeing.

Anita Tiessen, CEO of Youth Business International comments:

“The findings of this research show what we know to be true through our daily conversations with our global network – the next generation of entrepreneurs want to change the face of business for the better, but they can’t do this alone.

At a time when we are facing so many social, environmental and economic challenges we cannot afford to ignore the enormous potential of this next generation of business founders and it’s vital that we give them greater access to finance, information and tailored support that reflects the changing face of entrepreneurship.”

The report also highlights the ways in which young entrepreneurs in the North West are doing business differently, for example they are more likely to do their business mostly online (38% vs 26%) and to have mentors and attend business networking events (55% vs 32%) than older business owners. Business owners under the age of 35 actively seek out external sources of information about the best way to run their business in a way their older counterparts don’t, with 35% listening to podcasts, 67% utilising social media and 15% turning to accelerators or incubators for knowledge.

Despite the enthusiasm of many in this younger generation to start their own business (more than half people aged 14 to 25 in the UK have thought about starting a business.) it remains an extremely uneven playing field, with young entrepreneurs three times as likely to be privately educated. Of those surveyed for the report, business owners under 35 were more likely to say they had help through personal connections to get their business running than older entrepreneurs (47% vs 39%) and were more likely to have raised finance from family and friends, making it increasingly challenging for those from less affluent backgrounds to be able to fulfil their entrepreneurial ambitions.

Philip Salter, Founder of The Entrepreneurs Network comments:

“Many young entrepreneurs have their sights set on the world’s biggest challenges. If many of these ambitions are to be realised we need to make sure that the best ideas are funded – not just the best connected.”

In order to help realise the full entrepreneurial potential of Britain’s young people the report outlines three key ways that policy makers, funders and those within the entrepreneurship ecosystem can take action:

  1. Create new sources of funding for businesses seeking to address the world’s big challenges
  2. Bring back support for people who quit their jobs in order to start businesses
  3. Provide more support for entrepreneurs through mentoring and by opening up networks.

The report was launched at a reception at the Houses of Parliament today and Youth Business International and The Entrepreneurs Network will be inviting stakeholders to work together to support the implementation of the report’s recommendations.

Sophie Ukor, serial entrepreneur and founder of Violet Simon, who will address the audience at the launch of the report today said: “Supporting entrepreneurs, especially now, during the cost of living crisis is so important for the future diversity of our business communities and society at large. I moved to the UK and gave up my network and my connections and resources to be here. I know that the work I am doing is worthwhile, but we need adequate funding and more networking opportunities to be able to make the impact we know we can.”

To download the full report please visit https://www.tenentrepreneurs.org/s/Tomorrows_Entrepreneurs.pdf

Biggest manufacturing show in the UK includes exhibition from Red-Fern Media

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Smart Factory Expo, the industry’s biggest digital manufacturing exhibition in the UK is coming to liverpool from 16 – 17 November 2022.

Burnley-based digital and technology agency, Red-Fern is exhibiting at the Smart Factory Expo, produced by The Manufacturer, for Digital Manufacturing Week 2022. The company will be showcasing some of the digital innovation projects it’s achieved for local and global manufacturing businesses.

This includes immersive augmented reality experiences, bespoke system development, website design and branding, and strategic marketing.

Smart Factory Expo brings together the latest innovations in digital technology, processes, and thinking to help national and international manufacturers at all stages of their digital journey.

The event provides industry leaders with all the tools, insights and solutions they need to move forward in digital. It’s a chance for manufacturers to network, connect with peers, and keep track of technological developments.

Sean Redfearn, CEO, and founder at Red-Fern said: “Red-Fern is proud and very excited to be exhibiting at the Digital Manufacturing Week Expo 2022. We’ll be showcasing some of the world-class projects in AR, digital strategy, design, and marketing that we’ve delivered for global manufacturers.

“If you’d like to learn how manufacturers are reducing their sales cycles, optimising internal processes, and marketing their businesses/products, come and visit us on stand F44.”

Red-Fern is excited to meet other exhibitors and experts in the industry and help manufacturers at all stages of their journey. Other exhibitors include Microsoft, Nokia, and Fujitsu.

Top ranking regional creative agency Leith expands into Manchester

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Scotland’s largest creative agency opens first office in Manchester fuelled by back-to-back record breaking years.

  • Leith increased revenue to £11.5m in 2021, growing headcount to 131
  • Leith’s client list also includes IRN-BRU, NatWest/Royal Bank of Scotland, Network Rail, Edrington Group, Nando’s, and The Scottish Government.
  • Recently launched Leith Studios end-to-end production offering to be led by ex Havas Head of Film and Creative Director with 10 new hires based in Manchester office.
  • Growing healthcare division also ideally situated in the North West England.

Founded in Edinburgh’s docks in 1984, Leith grew to become the No.1 Regional Agency in the UK (Campaign 2021). Highly creative and renowned for award winning creative campaigns with the Scottish Government and the Extra Time Badge (Clio 2022), Leith is consistently one of the most awarded agencies in the UK (Roses 2022).

On the back of successive record-breaking years, creative agency Leith is opening an office on Richmond Street in Manchester for the first time, its first office outside of Scotland that will focus on offering end-to-end production facilities through its new venture Leith Studios. Led by ex-Havas Head of Film Neil Williams, the new production unit has a state of the art online editing finishing suite and has recruited 10 new hires, supported by 131 “Leithers” at the agency’s Edinburgh headquarters.

Neil Williams said: “It’s a great step change and opportunity for Leith in Manchester, with the extraordinary production talent available in the North West fuelled by Leith’s award winning creativity, clients can expect a fresh and innovative new approach to their content creation.”

Additionally the office will look to grow the agency’s Healthcare expertise which now accounts for 25% of Leith’s revenue, specialising in pharmaceuticals and increasingly in areas like mental health and wellbeing, working with brands nationally and globally including EFPIA, IFPMA, IPHA, L’Oreal and Worldwide Cancer Research.

Richard Marsham, Group Managing Partner, Leith, said “We’re excited to see years of growth for Leith come to fruition, Manchester feels like a natural second home for Leith; combining our top drawer creative firepower with our leading edge Health expertise and enhanced production facilities. We are broadening our client offer in light of market demand, and continue to attract clients across the UK and beyond.”

The agency appointed John McPartland from Havas Lynx last year to oversee its Health team’s creative output, and the team subsequently won Grand Clio Health in New York earlier in the year.

Leith was founded in 1984, and was acquired by Lumanity (previously known as Cello Health) in 2004. With over a thousand employees worldwide and offices in America, London and across Europe. Lumanity is on a mission to bring together incisive thinking and decisive action to cut through complex situations and deliver transformative outcomes to accelerate and optimise access to medical advances.

Credit Reports: How To Avoid Financial Anxiety

Knowing how to manage your finances is essential so that you can make informed decisions and stay out of difficulty. For some of us, making important decisions with our money is difficult, and can lead to financial anxiety. This can be brought on if you’re in debt and it may feel like you can’t get a handle on your cash. But don’t worry, there are ways in which you can boost your credit report and ease your money worries for good. Read on to find out more.

What is your credit report?

Your credit report is a statement that will stick with you throughout your life. Credit bureaus and other reporting agencies collect information and data about how you manage your bills. They gain this information through lenders and credit card companies that report back to them on how you deal with your finances. If you take out a short-term loan, car finance, or credit card, this will appear on your report, as well as information on whether you made the repayments in full and on time.

Working to create a good credit report means that lenders will be less likely to see you as a risk. If your credit score and report are viewed by a lender, and you have outstanding debt, or missed payments on your credit report that you struggled to make in the past, they will see you as a risk – this means that they may raise interest rates so you end up paying more for your loan, or you may not be offered financial help at all. It is essential that you work to keep your credit report in good condition so that you can have a chance of being approved for finance in the future.

Financial anxiety

You may not realise it, but many of us suffer from financial anxiety at some point in our lives – sometimes managing your money can be difficult, especially when you aren’t sure what to do for the best! You can identify whether you are suffering from this if you find that you are struggling to get on top of your finances and can’t pay bills on time. You may also lack the confidence to get started when it comes to gaining back control. Another element of financial anxiety may be that you don’t think you’re well prepared for an emergency. This can all be overwhelming – but there are ways that you can improve your feelings of anxiety and take back control! Such as…

Understand reports and scores

Keeping up to date with how your credit score look and what is being shown to lenders on your report is key to easing your anxiety. Even if your credit history isn’t great, there are things that you can do to improve it. Make sure that you meet your payments on time each month, and if you’re in debt, take the necessary steps to ensure that you are paying it off monthly. If you don’t have a credit score, start to build one. You can do this by applying for a credit card and making small purchases that you can afford to pay off. Check your credit report for mistakes as this can make a huge difference!

Keep track of your finances

You’re likely going to suffer from financial difficulty if you’re not sure how your finances are looking – it’s always worse in your head! Make sure that you get to know your income and outgoings throughout the month so you can get a better idea of where you are spending, and how much you have left over. This will also allow you to get to grips with controlling your money and making it go further.

Build emergency savings

Making sure that you save for emergencies will eradicate a lot of anxiety that you may have surrounding your finances. Building up an emergency fund means that you will be less stressed when it comes to dealing with issues like a broken boiler, or an urgent car repair and it is something that we should all prioritise as we never know what’s around the corner! These emergency savings give you a form of financial security in the way that you won’t have to worry about your income taking a hit if you need to spend in an emergency because you will already be prepared.