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Pret A Manger questions suppliers over food miles

first_imgSandwich chain Pret A Manger says it is looking at the environmental impact of food miles on its products. “We’re completely reassessing all our suppliers at the moment,” creative chef Nick Sandler told British Baker. ”We’re scrutinising our suppliers more along environmental lines, even down to where the flour in the bread comes from.” There is also a drive within the company to use more environmentally friendly and biodegradable packaging, he added.The chain has also begun trialling an ‘Artisan Baguette’ – a slow fermented multi-cereal bread made partly from levain, devised by French catering company Lenôtre – which is par-baked by Bridor bakery in Brittany, northern France, and baked-off in-store. The baguette, with a ham, egg and Italian cheese filling, retails for £2.70.last_img read more

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first_imgApril21 Full-Day Chocolate WorkshopLocation: The Slattery School of Excellence, ManchesterContact, tel: 0161 7679303email: [email protected] – 22 Two-Day North European Baking CourseLocation: Bread Matters, CumbriaContact, tel: 01768 88189922 – 27 World Bread ForumLocation: All Russia Exhibition Centre, MoscowContact, tel: +95 181 99 04/ +95 755 50 35email: [email protected] Richemont Club of Britain AGMLocation: The Slattery School of Excellence, ManchesterContact, email: [email protected] – 27 Advanced Practical Bread TechnologyLocation: Campden & Chorleywood, Chipping CampdenContact, tel: 01386 842104email: [email protected] – 29 SourdoughLocation: Panary, DorsetContact, tel: 01722 341 447email: [email protected] – 06 Two -Day Bread Matters Fundamental CourseLocation: Bread Matters, CumbriaContact, tel: 01768 88189905 – 09 SIAB Bakery ShowLocation: Verona, ItalyContact, tel: +39 045 829 831505 – 09 AB Tech ExpoLocation: Milan, ItalyContact, tel: +39 02 40922511email: [email protected] Bread CompetitionLocation: Artisan Food Centre, DorsetContact: Todd Sadler, email: [email protected] Half-Day Chocolate WorkshopLocation: The Slattery School of Excellence, ManchesterContact, tel: 0161 7679303email: [email protected] – 16 Residential – multiple programmeLocation: Panary, DorsetContact, tel: 01722 341 447email: [email protected] – 18 Advanced Practical Cake TechnologyLocation: Campden & Chorleywood, Chipping CampdenContact, tel: 01386 84210416 Sugar Craft – Cake Decorators at Work: three-hour demonstrationLocation: The Slattery School of Excellence, ManchesterContact, tel: 0161 767930316 Federation of Bakers ConferenceLocation: Westminster, LondonContact, email: [email protected] bakersfederation.org.uk19 – 20 Basic Bread-makingLocation: Panary, DorsetContact, tel: 01722 341 447email: [email protected] – 22 Essential Skills For Working With ChocolateLocation: The Slattery School of Excellence, ManchesterContact, tel: 0161 7679303email: [email protected] Advanced Skills for Working with ChocolateLocation: The Slattery School of Excellence, ManchesterContact, tel: 0161 767930323 – 24 Caffè CultureLocation: Olympia, LondonContact, tel: 020 7288 6176email: [email protected] Chocolate Wedding and Celebration CakesLocation: The Slattery School of Excellence, ManchesterContact, tel: 0161 767930325 Chocolate Desserts and Individual CakesLocation: The Slattery School of Excellence, ManchesterContact, tel: 0161 7679303email: [email protected] Easy-to-Make ChocolatesLocation: The Slattery School of Excellence, ManchesterContact, tel: 0161 7679303email: [email protected] Sugar Craft – Human Figure ModellingLocation: The Slattery School of ExcellenceContact, tel: 0161 7679303email: [email protected] Adult & ChildLocation: Cann Mills, DorsetContact, tel: 01722 341 447email: [email protected] Sugar Craft – Character ModellingLocation: The Slattery School of ExcellenceContact, tel: 0161 7679303email: [email protected]last_img read more

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Bakers’ Fair hits Bolton

first_imgMore than 400 bakers and food-to-go retailers from all over the country travelled from as far afield as Devon to the Bakers’ Fair North West on October 14.The show, held at Bolton Arena in the shadow of Bolton Wanderers’ stadium, kicked off at 9am on Sunday morning. And the queue of visitors waiting outside for the doors to open already suggested it was going to be a successful day.The one-day event, sponsored by Norbake, brought together specialist bakery exhibitors, millers, ingredients manufacturers, machinery suppliers, wholesalers and drinks companies, attracting names such as Coca-Cola, Unifine Food & Bake, British Bakels, Aga Foodservice, Christian Salvesen and Rank Hovis.Many of the visitors who poured through the door were carrying large cake boxes or trays of baked goods. It was not a case of coals to Newcastle, though; these were entries into the prestigious Richemont Club of Great Britain annual competition, which was being judged live at the show.In all, some of the UK’s finest bakers and confectioners tested their skills across 19 categories, ranging from fresh creams to Christmas novelties. There were also newly introduced competition classes for young bakers, with an exceptionally high standard of entries, according to judges.The Richemont Club, which has a membership of top craft bakers and confectioners, also hosted a live cake-decorating demonstration and competition at the show, with five stunningly talented teams put through their paces for two-and-a-half hours in front of eager crowds.Around the show, visitors were also checking out the exhibitors’ wares, or even tasting the evidence. Greenhalgh’s, which exhibited alongside Eurobake, did a roaring trade in hot sausage rolls, with wholesale sales manager Garry Thew taking the opportunity to tell visitors about the wholesale side of the business.Jus-Rol also had tempting savouries on offer to an eager reception and both Puratos’ and Bakels’ samples proved more than a little popular. Coca-Cola also did its bit in keeping visitors’ strength up; it was offering free drinks through a promotion in British Baker. On its stand, a specially made video demonstrated a makeover at Sparks bakery and it also showcased automatically energy-efficient open chillers, which adjusted their temperature.Rob Ledwith, regional sales manager at distribution firm Christian Salvesen, another exhibitor at the show, explained that the company was building its name in the baking industry and was very impressed with the show as a means to do that.richemont crowdsRichard Lyons, UK manager of equipment supplier Koma, had just one complaint: his stand was too busy at times! He was located in front of the live Richemont competition, which attracted crowds of five rows deep. Show sponsor Norbake also had a suc—-=== Richemont winners ===Section OneClass 1: Three Sausage Rolls – Charles Bamford,Peter Herd of WilmslowClass 2: Three Meat Pasties – Eric CranClass 3: One Vegetarian Product – Rob Simms, P&A DaviesClass 4: One Quiche Lorraine – Rachel Wilkinson, Arthur ChatwinMilling & Baking Trophy -P & A DaviesSection TwoClass 5: One Brown Tin loaf – Andrew Parkinson, Glovers BakeryClass 6: One Multigrain Cob – Martin Ormisher, Glovers BakeryClass 7: One White Plaited Loaf – Richard Griffiths, Glovers BakeryRank Hovis Trophy – Glovers BakerySection ThreeClass 8: Four Fresh Creams – Kelvin Davies, P&A DaviesClass 9: Four Danish Pastries – Kelvin Davies, P&A DaviesClass 10: Four Christmas Fancies – Jeanette Ramsden, Slattery’sClass 11: Four Puff Pastries – Steven Barnes, SlatterysBakeMark Trophy – P&A DaviesSection FourClass 12: One Novelty Celebration Cake – Tracy Jones, Arthur ChatwinClass 13: One Sugar Paste/Marzipan Model – Marianne Stockton, Arthur ChatwinClass 14: One Character Biscuit – Margaret Ellis, P&A DaviesClass 15: Three Almond Goods – Michael Wilde, Slattery’sRenshaw Trophy – Arthur ChatwinSection Five (Open)Class 16: Four Fruit Scones – Gabrielle Baxter, Tameside CollegeClass 17: One Oven Bottom Loaf – Monique Spivey, Tameside CollegeClass 18: One Round Pizza – Monique Spivey, Tameside CollegeBritish Baker Trophy – Monique SpiveySection Six (by invitation)President’s Challenge Cup (sponsored by British Sugar) – Elaine Hamey and Lisa Smith, Peter HerdsBest in Show (sponsored by Smilde Bakery Group) – Martin Ormisher, Glovers BakeryRichemont Trophy 2007 – P&A Davieslast_img read more

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Organic at heart

first_imgHoneyrose Bakery, the organic cake baker based in Park Royal, London, is significantly stepping up its operations to meet the growing market for organic hand-baked cakes. The firm, founded in 2000, has outgrown its current bakery, having “knocked through into neighbours until we’ve run out of neighbours”, as Adrian Apodaca, Honeyrose’s marketing director, puts it.According to Apodaca, the wholesale baker is “healthily profitable”. While its turnover is under £2m at present, he expects that to double in the next 18 months. Staff numbers are also expected to grow and there are plans to employ over 120 people by 2010. Drivers behind the growth plans are twofold: domestic sales and international sales.The company produces award-winning, totally organic cakes, loaf cakes, cookies, muffins, and a range of baked treats, including a line of wheat-, gluten- and dairy-free products. Honeyrose bakes everything by hand, and all its products are certified by the Organic Food Federation. One of the children’s lines in development is “healthy cup cakes”, says Lise Madsen, founder and managing director. “The topping is coloured with dried spinach powder, fruit juices or beetroot powder.””The bulk of the growth will come from our UK customer base, as we expand into more retail outlets,” says Apodaca. This customer base ranges from quality supermarkets, such as Waitrose, Fresh & Wild and Planet Organic, to institutions such as The Foreign & Commonwealth Office, House of Commons and the Tate Museum. It also supplies Royal Ascot, the Chelsea Flower Show and coffee, tea and farm shops throughout the UK.Own-label sales to supermarkets have increased to a point where Honeyrose is increasing its production facility by 400% to meet demand from existing and potential customers.Having negotiated the purchase of premises for a new bakery on 5 February, the building, also in Park Royal, will be entirely refurbished and is scheduled to be working by July 2008. The cost of the building and its refurbishment will be around £2.5 million and is being funded by the bakery with the aid of “a generous DTI grant”, says Apodaca.The firm has worked closely with the DTI in planning the new bakery and is employing specialists in BRC certification, product flow and project management, as well as architects with food manufacturing experience. The building will be gutted and completely refurbished and Honeyrose has been able to plan the layout from a blank slate, improving workflow and employee satisfaction with, for instance, a better system for goods in and out and new improved changing rooms for staff.The company has also launched an online shop and Madsen credits that with much of the international sales growth. “We had to photograph everything, put all the information on prices, nutritional values, and so on in one place,” she says. “At 3am Moscow time, anyone can go online and see what’s available. It’s great. Being online provides market feedback and shows us which of our products are working well.”Business has been flowing in. A retailer from Spain, who runs a funky new bar with a café/dining room in Madrid’s fashionable Salamanca district recently ordered a pallet of frozen cakes worth around £1,000. And Alnatura, one of the biggest German supermarkets to sell organic products, has been talking to Honeyrose, as have three other German retailers. Honeyrose has now delivered to customers in Scandinavia, Spain, Italy, Turkey and the USA. “We now know how to get cakes overseas in three business days and we can send them ambient or frozen,” says Apodaca.International orders currently run at less than £20,000 a year, but the prospects are promising, says Madsen. She believes Denmark, Germany and Holland will show most growth, as these countries have most awareness of organic products. Apodaca says, the Indian market is also expanding rapidly, with chains such as Café Coffee Day opening 30 stores a month, and Honeyrose may look at a joint venture there in future. The firm’s secret weapon has been front-office staff who speak 10 languages, including Danish and Portuguese.The company is looking at Fairtrade products but won’t sell one unless it has at least 50% Fairtrade products in it. “To put a Fairtrade label on something that only contains 20% is a bit of a cheat,” says Madsen. “We think a Fairtrade brownie is possible.” Sugar will be one of the main Fairtrade ingredients; chocolate and nuts are also possible.And the company’s ethos won’t change with the new bakery. “We are hand bakers at heart,” says Madsen. “We are optimistic and we know it’s possible to grow while keeping our quality standards high.” n—-=== Honeyrose at a glance ===Established: 2000Key personnel: Lise Madsen, founder and MD; Adrian Apodaca, marketing directorLocation: Park Royal, West LondonStaff: 30+Products: Organic cakes, loaf cakes, cookies, muffins, brownies, bars and a range of baked treats, including a line of wheat-, gluten- and dairy-free productsProduction: Over 4 million units a year, rising to 10 million units with the new bakeryOne for the future: A Fairtrade brownieTurnover: Under £2mBusiness model: Organic hand-baker and wholesaler. Everything is baked by hand with individual attention, and all products are certified by the Organic Food FederationCustomers: Waitrose, Fresh & Wild, Planet Organic, The Foreign & Commonwealth Office, House of Commons, the Tate Museum, Royal Ascot, the Chelsea Flower Show and coffee, tea and farm shops throughout the UKInteresting fact: Lise Madsen speaks Danish, English, French and German. Other staff speak Spanish, Italian, Polish, Hungarian, Portuguese and HindiWebsite: [http://www.honeyrosebakery.com]last_img read more

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Cashing in on the campus

first_imgStudent life is all about long sessions in cafés and bars, a frantic social life and minimal studying, right? A captive audience, and a gift to caterers and food-on-the-go brands.If that is where your image of university living is stuck, then you are probably showing your age. As Sodexo’s latest student survey indicates (see panel), today’s students increasingly see their debt-ridden time in higher education as an investment, involving hard academic application, a part-time job (for a third of them) and less time on-campus.The positive side to all of this is that university authorities are keener than ever to use innovative catering to reinforce that flagging sense of community.Richard McGloin is head of trading services at Sheffield Hallam University (SHU), and also chair of The University Caterers Organisation (TUCO), the body representing higher education establishments that run their own catering. In his experience, even where universities are managing the catering themselves, they are increasingly eager to bring brands, from Starbucks to Subway, on to campus.McGloin emphasises the role of catering in supporting the student. He adds: “Most of it is now run on a commercial basis, or at least has to cover costs. So the quality of what we provide is important.”There are practical limitations, too. SHU’s sit-down catering can feed 16% of the 30,000 student population, he estimates. But grab-and-go outlets play a major role in supplementing this capacity.SHU currently uses Café Direct products and branding. Until 18 months ago, it had a similar arrangement with Whitbread’s Costa Coffee for outlets around the campus. “If you wanted to use their logo and cups, you had to sign up to their service standards, with the possibility of spot audits, and you couldn’t sell coffees for less than 10p under the high-street price,” McGloin recalls.But the real sticking point was the fact that Costa will only allow its brand to be used where service is from a trained barista. “They didn’t offer services for bean-to-cup or push-button self-service,” says McGloin. “Their feeling was that this would be dumbing down the brand.”Café Direct, on the other hand, offers 14 outlets around the campus, only two of which are barista-run. “If you have a 300-seater restaurant, you cannot manage that with a barista,” he says. Café Direct quotes a recommended retail price, but there is more flexibility on pricing.== Wholesale deals ==Costa has wholesale agreements with some 30 universities, says corporate sales director Rob Gower, involving use of its equipment and coffee. But despite its strong position in other markets, from airports to the corporate sector, it has no full-franchise operations in any UK university. Gower explains: “A full outlet has to look and feel like one of our high-street shops, which means that a level of investment is required by either the university itself or the contract caterer.” So while Compass Group has opened Costa shops in a number of NHS hospitals, for instance, it has not done so in those universities where it manages catering.Compass says it uses a combination of its own and others’ licensed brands (within agreed guidelines) inside universities. It applies these brands flexibly across the various sectors where it operates, in a ’best fit’ approach.Sector brand manager Kevin Hall says: “We find that high street-style ’grab and go’ brands, such as Upper Crust, are particularly popular. It suits the student lifestyle and income, which is often time- and cash-poor.” He adds: “Outlets, products and brands that offer variety and international flavours are also very attractive to this market.”Sodexo runs its range of student-orientated, branded outlets called ’theunity’ in 18 UK higher education establishments. These include shops selling deli-type products, wraps, pasta and Greek-style salads. There is also a premium option, offering remote online pre-ordering for products such as sandwiches, says head of universities Peter Taylor. But are brands as important to students as operators like to make out? In fact, Sodexo’s research says that just 6% claim to seek out particular food brands, while 25% say they are influenced by coffee brands. And here, a clear ethical message is de rigueur.Taylor says that Sodexo can supply coffee which is not only organic and Fairtrade, but also Rainforest Alliance-certified. Costa says it can offer the same but, like Starbucks, adds its own initiatives – in this case the Costa Foundation, which provides direct investment in the country of origin. Costa’s Gower explains: “Fairtrade is a very successful brand, but few people know where the money goes.”Nonetheless, more campuses are aiming for Fairtrade status. SHU achieved this last year, meaning the university needs to stock a Fairtrade version of a given product, if one is available (whether alongside standard products or not). This is less of a problem with food and drink products than with, for instance, clothing, says SHU’s McGloin.== Shaping the offer ==Branding and ethics aside, universities are looking creatively at how they can shape their café and snack areas to better reflect student needs, while still maintaining commercial viability. SHU is running trials on two sites, using its own Chef Hallam brand. “We’re looking at catering outlets more as social spaces, with bigger meeting tables and places where academics can interact with students,” says McGloin. “It has also helped sales.”Here, branded suppliers such as Café Direct support the Chef Hallam identity. And, as he says: “There are rules we have to adhere to, even within a brand that we’ve created.” Consistency is still key, but here, at least, the model is based on student and staff needs, rather than being imported from a less relevant high-street environment.Sodexo’s Taylor says: “We will help universities plan how to make the most of the social space. A restaurant is likely to be packed just for a couple of hours a day, so we aim to make the space more interesting and relevant to work, rest and play.”Gower at Costa predicts that it is “only a matter of time” before UK universities take up the option of a “full Costa shop”. Maybe so, but how widespread is any such move likely to be? Institutions will be looking not only at fit-out costs and pricing, but also at the relevance of relatively rigid layouts to student and staff needs.For anyone busy revising the university market, there seem to be at least two lessons here. One is that brands are increasingly being encouraged by those managing university catering operations. This favours high street businesses with a strong identity, especially if that includes an ethical message. As Sodexo’s research shows, a ’local sourcing’ slant could be just as influential as a Fairtrade or rainforest protection angle, for instance.But secondly, it is clear that the practicalities and products of university catering have to be tuned into the realities of campus life. Students may aspire to brands and what they represent, but they live with tighter budgets, heavier workloads – and, increasingly, mum and dad.—-=== Student snapshot ===Sodexo’s 2008 University Lifestyle Survey paints a less-than-encouraging picture when it comes to on-campus catering.Most strikingly, 67% of students questioned said they did all or most of their socialising at non-university venues (up from 44% in 2006). And 56% said they spent two hours or less per day socialising. Almost two-thirds estimated they spent £20 or under per week on their social life, with £3.25 as the average lunchtime spend.Almost the same proportion of students attached importance to Fairtrade products (52%) as to UK/local sourcing (51%). But then only 37% said they would pay more for a Fairtrade product.[http://www.uk.sodexo.com]last_img read more

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GreenPalm first for Burton’s Foods

first_imgBurton’s Foods has announced it is the first UK sweet biscuit manufacturer to acquire GreenPalm certificates for 100% of its palm oil usage.From 1 January 2010, its usage of both palm- and palm kernel oil will be covered by the certificates, in the scheme which is internationally recognised by the Roundtable on Sustainable Palm Oil (RSPO).The firm has also announced that its long-term strategy is to be able to use segregated sustainable material throughout the entire product range by 2013.British Baker has previously reported that fully traceable, segregated and sustainable refined palm oil is available from suppliers such as New Britain and can be used in biscuits, however most bakery manufacturers use palm derivatives such as olein, stearin and fractions, which are not currently available in sustainable, certified forms. This leaves manufacturers with the option of buying GreenPalm certificates.The scheme is run by fats supplier AAK, and certificates can be purchased for every tonne of palm oil used by a company. This premium is then paid to farmers producing an equivalent amount of sustainable palm oil. Certificates cost around $8, while a tonne of palm oil is around $650.“We are delighted to be able to kick-start 2010 with such a major step forward for our CSR programme– baking a difference,” commented head of CSR at Burton’s Foods, Jo Shears. “Moving forward, consumers will be reassured that when purchasing some of the UK’s favourite brands such as Jammie Dodgers and Maryland they are making environmentally responsible purchasing decisions.”last_img read more

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IFE Show preview

first_imgThe International Food and Drink Exhibition takes place from 13-16 March 2011 at ExCeL, London, and will feature a number of bakery exhibitors and new product launches. The Bakery & Confectionery area is just one part of the show, which expects to attract up to 20,000 visitors this year. Exhibitors include Bagel Nash, which will be promoting its range of bagels, muffins, brownies, bagel bars and pizza bagel melts. Delifrance, which is exhibiting for the first time in 10 years, will be showcasing its latest range of French-style bakery products. Scone manufacturer Haywood & Padgett will also be at the show, as will Heavenly Cakes, a handmade cake specialist based in Hertfordshire, which supplies shortbreads, brownies, chocolate cakes, flapjacks and its new gluten-free varieties to businesses across the UK.Dina Foods will be promoting its range of retail bakery products, including Mediterranean flatbreads, while Wiltshire-based Marshfield Bakery will display its portfolio of snack bars, cakes, biscuits, brownies and shortbreads. Other exhibiting firms include Rich Products, Speciality Breads and the English Cheesecake Company.New Products Live, a new area of the show this year, will feature product displays, the chance to win the Fresh Ideas accolade, and free-to-attend Future Trends seminars, run by Mintel. The show will also host its Key Buyer Initiative, with senior buyers from the UK’s leading retailers, including Morrisons, Sainsbury’s and Asda, set to hear pitches from exhibitors on their latest products.l To find out more about the show visit www.ife.co.uklast_img read more

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Greener system from Allen

first_imgCoding and marking equipment manufacturer Allen Coding Systems has introduced a ’greener’ labelling system. Diagraph’s Platinum E Series All Electric Labelling System claims to use 50% less energy than other pneumatic models. UK sales and OEM manager Steve Ryan said it offers all the performance and features of its earlier equipment, but with the added financial and environmental benefits of using less energy. The firm said the new system uses less power than a hairdryer and, as it does not use compressed air, it can be moved easily from one production line to another, as no air hoses are in the way.The system features a counter rotating blade fan that secures labels during application, and has a label range of one to six inches wide, and 0.5 inches to 13 inches long.last_img read more

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Get your World Scotch Pie entries in

first_imgEntries are now open for this year’s World Scotch Pie Championships, which sees bakers and butchers vying against each other for the top spot.The championships, now in their 13th year, will be held at Carnegie College, Dunfermline. Judging will take place on Tuesday 15 November, and the prizes will be awarded at a celebration lunch on Thursday 5 January 2012.Fourth-generation baker Maurice Irvine, of Irvine’s of Beith in Ayrshire, took the title of World Scotch Pie Champion at the last championships.Buckhaven-based baker and butcher, and organiser of the event, Alan Stuart said he hoped the decision to announce the winner in January, would enable all winners to better capitalise on their awards, “instead of trying to fit things around the Christmas and New Year rush”.“In these difficult times, we believe that success in competitions like ours can help tremendously to bring your business to local and national prominence,” he added.Entry forms are available from Anna Drogon at Scottish Bakers by calling 0131 229 2401, or visit www.scotchpieclub.co.uk for more information.last_img read more

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first_img More than 40 accredited lenders provide finance to their SME customers under the British Business Bank’s Enterprise Finance Guarantee (EFG) scheme. The Business Secretary has written to all accredited Enterprise Finance Guarantee (EFG) lenders to draw their attention to this additional support, and expects them to ensure that they are actively engaging with SME businesses in Carillion’s supply chain so they can give them the support they need. Accredited EFG lenders are listed on the British Business Bank website. The Business Secretary has written to all accredited Enterprise Finance Guarantee (EFG) lenders to draw their attention to this additional support, and expects them to ensure that they are actively engaging with SME businesses in Carillion’s supply chain so they can give them the support they need. Accredited EFG lenders are listed on the British Business Bank website. UK Finance Managing Director, Commercial Finance Stephen Pegge said: A further package of support for the businesses and workers affected by Carillion’s liquidation was welcomed today (Saturday 3 February) by Business Secretary Greg Clark.Through delivery partners that include all the major high street lenders, the British Business Bank will provide support to make available up to £100 million of lending to small businesses who may not have the security otherwise needed for conventional bank lending using its Enterprise Finance Guarantee programme.This will be of benefit to small businesses, including the chain of subcontractors to Carillion, who may not have sufficient assets as security to access conventional loans. These guarantees can be used to support overdraft borrowing and refinancing of existing debt.The UK’s leading banks have also furthered their commitment to provide support to those affected with UK Finance confirming additional support for personal banking customers concerned about overdraft, mortgage or credit card repayments, as well as further financial support for small businesses to provide short-term relief to help keep them afloat.Business Secretary Greg Clark said: The British Business Bank is the UK’s national economic development bank. Established in November 2014, its mission is to make finance markets for smaller businesses work more effectively, enabling those businesses to prosper, grow and build UK economic activity. Its remit is to design, deliver and efficiently manage UK-wide smaller business access to finance programmes for the UK government. The Enterprise Finance Guarantee (EFG) is an important option for smaller businesses who need access to finance, but may not be able to meet a provider’s normal security requirements. To help in these exceptional circumstances, we have designed additional flexibility into EFG that could be particularly suitable for firms in the Carillion supply chain. We would encourage lenders to work with their customers to use these new flexibilities to meet their needs. On Thursday 18 January the Business Secretary chaired the first meeting of a taskforce set up to monitor and advise on mitigating the impacts of Carillion’s liquidation on construction firms, particularly SMEs and those working in the sector. This meeting builds on a series held by the Business Secretary last week with trade associations, unions and banks. British Business Bank CEO Keith Morgan said: We want to signal very clearly to small and medium sized businesses who were owed money by Carillion that they will be supported to continue trading. The banks have responded to my request by agreeing to support businesses and individuals affected. This further guarantee will help those businesses who may not be able to provide the usual security for a loan. I will continue to work closely with business organisations, trade unions and banks to actively support those affected by Carillion’s insolvency. UK banks are working with government to support customers and businesses who have been impacted by the Carillion liquidation. The enhancement of the Enterprise Finance Guarantee by the British Business Bank will help those facing temporary cash flow issues to access the finance they need to support their businesses through this period. Information on how the Enterprise Finance Guarantee scheme operates and supports businesses can be found on the British Business Bank website. This package is in addition to the more than £200 million already announced by Lloyds Banking Group, HSBC and RBS.Notes to editors British Business Bank to support up to £100 million of lending to small businesses through its delivery partners UK Finance confirms an additional multi-million pound package for SMEs and extra help for customers concerned about their mortgage or credit card payments industry and government continue to work together to ensure businesses and workers are supported following Carillion’s liquidationlast_img read more

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