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Are Payday Loans the Future of Short-Term Financing?

Claire James
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Are Payday Loans the Future of Short-Term Financing?

Stories of irresponsible lending, extortionate interest rates and ridiculous fees and charges hit the headlines just a few years ago, leaving many people sceptical about payday loans. But since then, a lot of changes have come about in the industry, with new government regulations introduced to ensure that payday loan companies are lending responsibly, and protecting borrowers from financial harm if they are unable to make repayments. The payday loan industry has had a complete overhaul, with irresponsible lenders shut down, and lending companies working towards fairer, more responsible policies.

Today, there are several trustworthy and responsible payday lenders to choose from, providing an ideal option for those who are in need of quick cash. Here’s why payday lending could just be the future of short-term financing.

It’s Quick and Easy

Borrowing a short-term loan has never been easier. Whether you need to repair your car or replace a broken kitchen appliance, if you don’t have the funds available right now, you can easily get the exact amount that you need in mere minutes. Typically, you will apply for a short-term loan online by entering personal and financial details that the lender will use to determine whether or not they can responsibly allow you to borrow the funds that you need. No need to visit the bank, or wait days for approval – you can have the funds you need to fix whatever financial problem you are dealing with on the same day.

Borrow Small Amounts

Sometimes, you may be in need of just a little bit of quick cash. For example, let’s say your fridge has broken and you need just £100 to purchase a new one second-hand so that you can quickly get your food into it and not have to worry about losing that too. Along with being quick and convenient, payday loans are typically available in small amounts. That way, you don’t have to borrow much more than you actually need in order to cover your unexpected expense, as might have been the case in the past.

Bad Credit Options Available:

If you’ve got a poor credit rating, the chance of being accepted for a loan from the bank is fairly slim. Typically, you will need at least an average credit rating to be accepted for a bank loan, and they are often quite large amounts – it’s unlikely that your bank will lend you just £200. Thanks to the wide range of payday lenders available, even those with a poor credit rating can find an option that is suitable for them. Many payday lenders don’t just look at your credit score; they will also take your income and expenses into account, and base their decision on how likely you are going to be able to repay the loan comfortably rather than your past experiences with money.

Several Lenders to Choose From

Finding the right payday loan for you is easier than ever. Payday UK, for example, is a trusted broker that works with a panel of reputable direct payday lenders. All you need to do is enter your details into the form at paydayuk.co.uk, and they will search their panel for lenders who are willing to provide you with the funds that you need. This can make the whole process of getting a loan much easier, since you can minimise the risk of your credit rating being negatively impacted should you apply for a loan that you are not eligible for and get rejected. And, it allows you to compare your options from various different lenders in very little time. Brokers like Payday UK are changing the public perception of payday loans by taking their customers’ finances very seriously, only suggesting loans and lenders that borrowers are actually eligible for, and only working with responsible lenders who ensure that borrowers are able to make repayments before paying out.

Short Repayment Terms

Perhaps you want to borrow money, but the last thing that you want is to be tied down to a longer repayment term. Borrowing a payday loan means that you can get the debt repaid in a very quick time frame, so you don’t have to spend the next few years budgeting to repay it. Since you can borrow very small amounts from payday loans, you might find that it’s easy for you to repay the loan in full on your next payday, or there’s the option to spread your repayments out over several months and smaller payments, which is ideal if you would struggle to repay it all at once and want to avoid getting stuck in a payday loan cycle.

Flexibility

Compared to other forms of borrowing, payday loans are very flexible and give you more options to take control of your own borrowing. You can choose to repay most payday loans over longer terms, usually up to 36 months; however, there’s always the option to pay it off faster or make larger repayments on the months that you are able to afford to do so. They are also very flexible with the amount that you borrow, and many lenders are willing to offer top-up loans should you need one after proving your ability to responsibly make repayments for the first few months of the term. In addition, many payday lenders offer additional flexibility for those who wish to reduce their monthly payments. If your situation changes at any point and you would like to repay less per month, you may be able to have your payment term extended with no impact to your credit score.

Build Your Credit Rating

If you have a poor credit rating and want to improve it, a payday loan could be an ideal choice for you. Not only are many lenders more likely to accept borrowers with poor credit for smaller loans over a short repayment term because they are less risky, but each time you make a payment or repay your loan in full, it will have a positive impact on your credit score. Since you are not tied into a longer repayment term, there is less risk of your financial situation changing and leaving you unable to make repayments.

Consolidate Debts Quickly

Another increasingly popular use for payday loans is debt consolidation. More and more borrowers are turning to short-term loans to pay off their existing debts in full quickly, leaving them with just the short-term loan to repay over a shorter repayment term. This can be an excellent way to clear your debts in a much shorter amount of time than continuing to make the minimum repayment on several lines of credit. For example, if you have several smaller loans that you are repaying over a several-year period, not only can this be difficult to keep up with when you have various payments coming out each month and interest on each one, but it can also take a long time to repay in full. A short-term loan allows you to repay them all in full immediately and then focus on making just one repayment over a timeframe chosen by you.

Payday lenders used to have a bad public reputation, but recently they have been making some huge positive changes, which has led to a much more favourable public perception.

5 Online Business Ideas

Claire James
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5 Online Business Ideas

Getting started with your own online business is much more straightforward nowadays due to the technological advances we all enjoy. You have the opportunity to become a web developer, blogger or set up an e-commerce store and sell products. Here are five top business ideas you can use to get started:

Web Developer

Learning HTML, CSS and JavaScript have never been easier. If you desire to become a professional web developer, you can use numerous online resources for free. Taking time each day to learn this new skill may be challenging but highly rewarding once you start assisting others by building the front end and backend of their website or landing page.

Ecommerce Store Owner

Setting up an online business involving e-commerce is a way to satisfy people’s desires and make a profit at the same time. You can choose to utilize a drop shipping model or purchase products from a discount supplier and stock them as inventory until you receive an online buyer. Using a service providing templates and support may be your best option if you like this idea.

Blogger

While blogging has been around for several years, it is still one of the best ways to communicate with a targeted audience and sell them services or products. Choosing a niche and setting up your blog can be done by picking a topic you’re passionate about and using a content management system. It’s best to get started on topics where there are affiliate products you can sell. Whether you’re interested in teaching people about hypnosis, online marketing or building better relationships, being a blogger can be financially rewarding.

Virtual Assistant

If you’re not interested in the challenges that can come with being the boss of an online business, you may want to choose to assist the owner of another online business by becoming a virtual assistant. Going this route may also be a good option if you are unsure about where to start and want to learn the ins and outs of running email campaigns, advertising or dealing with customer support. Getting started by helping another online business owner may be what you need to build confidence.

Consulting

Learning about a specific online area, such as search engine optimization, paid advertising or social media, and consulting with online businesses with challenges in these areas is another business idea you may want to utilize. When you become an expert in a specific niche, you have skills that are required to succeed online. Some business owners are willing to pay for your knowledge and assistance to help them run better SEO or social media campaigns.

Getting Paid

Once you have your online business up and running, you need to set up a system to get paid. There are several options you can use to have clients send money online for the services they use or the products they purchase. Utilizing Western Union, PayPal or another payment processor are all viable solutions.

Getting started with your online business can be an exciting new adventure. Be prepared to pace yourself and conquer any hurdles you may come up against along the way. View this as a new journey in your life towards independence and financial freedom.

Other Great Uses for Home-Grown Food

Sam Allcock
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Other Great Uses for Home-Grown Food

We already know the benefits of home-grown food. Fruit and vegetables harvested from your own garden help to reduce carbon emissions, promote a balanced diet, and allow you to exercise your green fingers.

But the pay-off of personal crops goes beyond just a healthy lifestyle – the uses are of home-grown food are diverse and numerous. Sometimes, we have extra fruit and vegetables that just aren’t made for the dinner table, but their use is not limited to the bin.

From the sustainable to the unusual, we look at those other uses for home-grown food that you may have overlooked.

Pollen promoter

When growing fruit and vegetables, it’s easy to ignore the needs of other plants in our garden. Of course, the roses that you planted look nice, but they don’t require as much careful maintenance and attention as your blossoming tomatoes.

However, putting home-grown food first does not have to be injurious to your other growing successes.  In fact, the growth of certain fruit and vegetables can help to increases biodiversity in your garden by attracting bees and butterflies which are vital for further pollination amongst the more decorative plants in your back yard. To achieve this, we recommend growing produce such as melons, courgettes, and cucumbers. As these plants are closely related, they grow well in similar soils, reducing maintenance.

Changes to industrial agriculture since the latter half of the 20th century have led to a reduction in bee colonies. But a biodiverse garden, including the growth of fruit and vegetables allows these at-risk-insects to thrive. You won’t just be benefitting yourself with food – you’ll be helping an entire species.

Pimp your compost

You’re already doing your bit for the planet by growing your own vegetables – but you can go one step further. Using your home-grown fruit and vegetable scraps to compost your garden can help you produce a more successful harvest.

The nutrients that your crops have absorbed from the soil during its growth are concentrated and released back into the soil when you compost. This concentration of good plant fertiliser can then be quickly absorbed back into the next generation of potatoes or peppers for even better growth the second time around.

Fruit and vegetable scraps should also be composted with carbon-rich materials for successful decay – your grass cuttings will do fine. One-part food scraps and three-parts hay or turf is easily achievable in a low waste garden. When we home-grow food, we think of food for thought. After this, it’s food for your food!

Food on your face

Rich with vitamin and nutrients, fruit and vegetables have as much use on your face as they do in your gut. Of course, we’re talking about face masks. When selecting your skincare products, if you’re inclined to choose a naturally based product, consider creating your own from the food you grow in your garden.

A skincare recipe that is particularly suited for the British garden is a carrot face mask. Carrots are pack full of vitamin A, with additional ingredients including vitamin C, potassium and folacin. This means that carrots in a face mask can help moisturise skin tissue and help to repair it. Carrot face masks also help build your defences against sun damage and can help to tone your skin.

The recipe is simple – cook three carrots, blend into a smooth puree, and mix with four tablespoons of honey. Allow your mixture to sit on your face for about 10 minutes before washing it off with cold water – this will allow all those important nutrients to get absorbed into your face.

There are, of course, even more recipes for natural facemasks that you can make from your home-grown food. Different combinations of fruit and vegetables will help release their respective nutrients into your skin for different results – just make sure that your creation is safe before you use it.

Colour inspiration

Do you remember using carefully carved potatoes and carrots with paint to create amazing prints as a child? Your parents may even have your garden scene on the refrigerator. We’re taking this to another level and saying you can actually use your home-grown fruit and vegetables to create your own paint.

The process is easier than you may expect. Simply boiling colourful fruit and vegetable materials will release their natural colours into the water. Choosing your colours is equally uncomplicated: strawberries make red, blueberries make blue, kale makes green, and oranges and carrots make orange. Other fruit and vegetables are unlikely to trip you up on their colour production.

After boiling, strain and keep your coloured water and put your food waste into the compost bin. You can use your coloured water to naturally die materials or create paint by adding powder sugar to create a thicker consistency that is more suitable for traditional canvas painting. With a bit of practice, you’ll be able to use your last supper to recreate Da Vinci’s The Last Supper.

The uses of home-grown fruit and vegetables are clearly numerous. But by using natural ingredients and materials to achieve great results in many different aspects of life, the benefits reach beyond the initial uses of their produce. The use of grow bags has made it easier to grow your own fruit and vegetables in your garden. While we don’t expect you to eat everything you produce, you can certainly make more than carrot cake with your crops. You can help the planet and do more than just eat your greens!

A green thumb for greener air

Sam Allcock
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A green thumb for greener air

It’s no secret that air quality, particularly in cities and built-up areas, is a growing issue. For example, the Guardian reported earlier this year that London had hit the legal limit of air pollution for the whole of the year in less than a month. According to the same report, around 40,000 deaths are caused every year by the staggering levels of air pollution in urban areas in the UK.

If you live in a larger city or built-up area, air pollution is likely a concern. But what can you do to take care of your health and help out your area?

Get out your trowel and come with us, as we join Compost Direct, a leading supplier of mulches, and venture into the garden to find out the best air-cleaning plants you can grow right now.

Gerbera daisies

Green doesn’t need to be the only colour on the quest to greener air! A recent study by NASA has provided a few colourful blooms for gardeners keen to clean the air.

Gerbera daisies are bonny, beautiful blooms that come in many different colours; white, orange, red, pink — whichever you pick, they’ll give your garden a splash of colour. These flowers love direct sunlight and a bit of space, so make sure not to leave them in a shady corner of your garden.

NASA states that these wonderful flowers are great for dealing with multiple air toxins, such as benzene.

English Ivy

A classic climbing plant, you might already have the hedera helix climbing up the walls of your house. Though it has a bad reputation in the States as being a weed, it can be a lovely addition to your garden if tended to.

The plant offers benefits for wildlife and for the air – Goldsmiths, University of London, states that the wide leaves of the common ivy traps particulates, which makes it a great choice for purifying the air.

Wallflower

If you’re looking for a little more colour for your garden, why not introduce the wallflower, also known as the Erysimum? Goldsmiths also names this plant as being akin to the common ivy for its particulate-cleansing power. These flowers have a bright display of petals during the first half of the year. You can grow wallflowers in many colours, with purple and yellow popular choices.

Conifers

Hedges are great for combatting air pollution, and Homes & Property recommends conifers for the job. Specifically, the western red cedar hedge is named as an ideal conifer to plant in your garden. But if your garden is a little smaller, the publication also names the yew as a great alternative, citing its evergreen nature and easy trimming.

Practices

Of course, green gardening doesn’t end at what plants you have. You have to consider how you are tending to your garden as well.

SmilingGardener offers five great ways to reduce pollution in ways beyond planting shrubs and flowers:

  • Start composting. You can turn many waste products into compost to stop it going to the landfill.
  • Avoid corn gluten meal. SmilingGardener notes this meal is made up from genetically modified corn, so best to stay away from using it, if possible.
  • Quiet equipment. This one’s more for noise pollution, but it’s certainly an added bonus for the pollution-conscious gardener to take note of!
  • Stay away from using pesticides. This one is probably a given, but if you can avoid using chemicals on your garden, please do.
  • Consider indoors as well as outdoors. As well as planting outdoor plants to combat air toxicity, consider bringing in some houseplants to cleanse the air in your home.

More Christmas Shopping than Ever is to be Done Online: What Does this Mean for Retail?

Sam Allcock
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More Christmas Shopping than Ever is to be Done Online: What Does this Mean for Retail?

2020 has, to put it mildly, been a bit of a grim year. Economically and socially, the country (and the western world) is in a pretty dire state, with businesses folding and jobs disappearing on a regular basis.

There are a few corners of the economy which are thriving, however. These are social media giants like Facebook and Twitter, whose platforms we’re using more than ever before. But the real winners have been e-tailers like Amazon. It’s to these platforms that we turned during lockdown and it’s to these platforms that we’ll be returning when the time comes to buy our Christmas gifts.

With no means of getting out and buying stuff during lockdown, many of us resorted to online shops. And, having done so, it’s likely that we’ll keep doing so – because, when it comes to shopping, habits are especially difficult to break. Thus, Amazon’s timeline for world domination has been brought forward a decade or so, with Prime Day 2020 sure to smash records for the company.

Traditional high-street retailers have fared less well, as they didn’t have the logistical infrastructure and technical expertise to pivot to online instead. Personalised advent calendars and other niche gifts can be more easily bought online, after all.

While they made the necessary adaptations, the already-existing e-commerce players were able to build up a sizeable lead. High street giants like John Lewis, for whom Christmas is an absolutely critical time of year, are preparing to pull out every stop to meet the challenge – opening stores early to cope with higher demand while still keeping customers safe from contagion.

The best way to get ahead of the crowd, as ever, is to go shopping as early as possible. After Halloween, the season of shopping will really begin – and this time, it’ll be a season of uncertainty. For essential Christmas supplies like advent calendars, decorations and frozen turkeys, many shoppers will find themselves turning to the internet in order to skip the crowds.

The thing that’s making the advent season especially troublesome is the uncertainty surrounding future lockdown measures. Local lockdowns are gradually rolling into force, and the possibility of a second national lockdown in England is still dangling. Retailers who have made the switch to online will be better prepared to weather changes in conditions than those who haven’t – it’s unlikely, after all, that delivery networks will be effected to anywhere near the same degree as your local high street or shopping centre.

Even before the arrival of the novel coronavirus, the British high street was in dire health. Business Live, in an article late last year, predicted that ‘more closures’ would arrive soon, as the cost of rent simply didn’t justify a physical premises for many storeowners. Throw in a lockdown, and the case for closure becomes even more irresistible.

Best for Business: How User-Generated Content Can Help You Corner the Social Media Market

Sam Allcock
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Best for Business: How User-Generated Content Can Help You Corner the Social Media Market

From the days of flyers and telephone calls to the evolving world of social media content and tailored online advertising, brands and businesses are constantly thinking of new ways to gain exposure and sell their products to customers.

Thanks to the power of social media, almost every company includes platforms like Facebook and YouTube. From TikTok to Instagram, it’s all part of a strategy to reach new audiences and increase sales.

You’ll already know that “influencer marketing” has been the way forward for many marketing professionals. Tapping into the success of everyday people who’ve taken the internet by storm has been seen as the logical way to go about it.

But, with high follower counts comes the high price you’ll have to pay to get social media users—who are bombarded by brand deals—to pay attention. Even if you opt for an influencer with fewer followers, you can never guarantee a return on investment.

Today, we look at how new tactics are being used to corner the social media market, including User-Generated Content and the phenomenon of “unboxing”.

Unique touches over fake presence

The traditional use of influencer marketing, where you pay a social celebrity to post your product on their platform, is a dying art. The facts and figures certainly back this up, especially around the use of fake followers.

According to a report in 2019, fake followers cost advertisers $1.9 billion, with companies “ripped off” for the price they paid for sponsored posts. It’s no small cost for a market said to be worth $8.5 million in the same year—based on advertising spend.

But it’s not just fake followers that point to influencer marketing being less effective than it once was. In the same year, American internet sensation Ariana Renee had to cancel her own clothing range after failing to sell the minimum 36 T-shirts required to start her first shipment, despite having a following of 2.6 million on Instagram. 

Examples like this has got brands thinking. How can they promote their products in a way that people on social media will share it, without having to be paid a small fortune for the pleasure?

The answer in a nutshell—User-Generated Content (UGC). In simple terms, UGC is any content, whether it be videos, text, or audio, that’s shared by social media users. For brands, it’s a means to get creative and add personal touches to their products and packaging. This will have people reaching for their phones to post about it without hesitation.

Personalisation has boomed in recent times, with everything from personalised wrapping paper to personalised candle holders available online. It’s a trend that even celebrities are on board with. David Beckham’s 45th birthday celebrations saw Victoria give him his presents wrapped in paper printed with his own face!

It’s more than plausible to say that people want more unique, personal items these days, with the world of social media playing a key role in the desire for personalisation. If you think about it for a second, what is more likely to be shared on social media, a shopping bag with a brand name on it, or one that’s been designed to feel like it’s special to a specific individual and nobody else?

To quantify this from a financial point of view, it’s estimated that the global market for personalised gifts will rise to $38 billion by 2021. This provides a closer look at what direction things are heading in.

Unboxing–the never-ending phenomenon

With a continuous conveyor belt of products to choose from, there comes the opportunity for trends to emerge on social media. One of the most popular ones right now is known as unboxing.

Recognised in the Oxford Dictionary, ‘unboxing’ is defined as:

‘An act or instance of removing a newly purchased product from its packaging and examining its features, typically when filmed and shared on a social media site.’

Search for ‘unboxing’ on YouTube and you instantly get a sense of how popular it’s become. A channel known as ‘Unbox Therapy’ has amassed 17.1 million subscribers since its creation in 2010, with over 3.7 billion views in that time, with viewers tuning in for the excitement of unboxing the latest products.

Not only do unboxing videos fuel anticipation of what’s inside, but it always gives key information on the product itself. This is a big deal for consumers, and a recipe for success when brands think of new ways to present their latest craze.

Unboxing is not some sort of look into the future, it’s an established way to present and digest content right now. As of 2019, YouTube channel Ryan’s Toy Reviews, where youngster Ryan unboxes the latest toys and reviews them with his parents, was worth a whopping $26 million.

Personal reviews, not just views

It’s clear to see that the days of brands relying on social media megastars to post about how much they love the product they’ve just been paid handsomely to share are over. It just doesn’t yield the same results that it used to.

Now people want to see more personalised branding and opinions from the people in the position to blog, vlog and talk about. Not only that, but the everyday person also wants to share what they buy on social media. Making simple changes to packaging, adding unique touches, and even handwriting a note to fit inside the box are all ways for companies to up their UGC game.

Article researched by UK commercial print company: Where The Trade Buys.

Interested in Making a Living from Real Estate? 4 Ways You Can Earn a Side Income

Claire James
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Interested in Making a Living from Real Estate? 4 Ways You Can Earn a Side Income

The real estate industry produces some impressive wealth, however, some people are still skeptical about whether to invest in this lucrative sector. Yet even if you’ve never considered trying to generate an income from real estate before, this could be a perfect time. Here are four proven ways that you could make money from property, even if you’re only starting.

Two Ways Of Generating Cash From Property

According to Ben Siggins, there are two basic ways of generating an income from real estate. One is passive – purchasing and holding. The other is active – flipping homes or putting together a property development deal.

It’s even possible to invest in property with no capital to begin with. There are several methods open to you, including:

  • Seller financing via lease options
  • Bringing in investment partners
  • Getting a bank or hard money loan
  • Trading a fixed asset
  • Taking out a line of credit based on home equity
  • Using peer-to-peer lending or crowdfunding  (this Roofstock review is an example)

Once you have your capital, there are several primary strategies to allow you to generate an income. Here are four of the top contenders.

1.Residential Rentals

A common way of generating an income from real estate is buying and holding residential long-term rentals. People are always going to need somewhere to live, so as long as you source a well-located property that will prove popular with tenants you can make a significant profit. Don’t be deterred if a property is run-down. You can often buy at a low price, carry out affordable renovations and then rent it back out for a considerably higher monthly payment.

2.Flipping Homes

The second most common way to make money from real estate is through flipping homes. Of course, there are some pitfalls to be avoided. Since the goal is selling quickly, you want to choose the right property if you want to make maximum profits. One of the best things to do is to choose an ugly home in a nice neighborhood. This is the key to finding great value for money. Make sure you don’t choose a property that will cost too much to renovate, though – failing to understand the potential value and underlying costs is a recipe for failure. Make sure you do your research well from the outset for success.

3.Short Sales

If a property’s current owner has fallen behind with their mortgage payments but, as yet it hasn’t entered into foreclosure, you can profit from a short sale. It’s a fantastic opportunity to make quick profits with no length renovations required, although it can be tricky to succeed in this strategy. It’s good to know how many missed payments before foreclosure kicks in. Usually, you’ll need cash to pay for the property, and you’ll also need to ensure you’ve had the property inspected and reviewed to avoid serious risks. Nevertheless, with instantaneous potential returns on short sales, it’s a strategy that’s well worth considering.

4.Vacation Rentals

The vacation rental market is thriving and represents a very lucrative way of making a profit within the real estate sector. You can make a significant sum from a rental property, especially if you buy in a popular tourist locale. With websites like Airbnb out there allowing you to list your vacation home for rent where would-be travelers can find it easily and make an online booking, it’s never been simpler to make money from real estate. Of course, you’ll need to ensure you have the right insurance to cover you in the event of a problem. While you can save money on insurance for a vacation rental property by choosing the right provider, you still need to make certain you have sufficient coverage for any losses you could incur. This is a notoriously risky market and, without the right protection, you could end up making losses, not profits.

Making Your First Real Estate Investment

If you’re ready to make your first real estate investment, there’s never been a better time. Whether you decide to opt for a vacation rental, a long-term residential rental property, a flipped property or a short sale, these are just four of the ways that you can get into the lucrative realty market and start enjoying profits. 

Three Affordable Cars with Plenty of ‘Future Classic’ Potential

Claire James
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Three Affordable Cars with Plenty of ‘Future Classic’ Potential

The price of a car tends to appreciate or depreciate based on several different factors. With key criteria like style, desirability, rarity, and innovation often determining a car’s cult status, you could be excused for thinking that only cars with an expensive price tag have a chance of becoming a classic.

But with cars produced to fit every budget, more affordable options can find themselves in the same classic bracket as those that end up in museums and even on the big screen. Today our focus is on three affordable used cars that have a serious chance of earning their own classic badge in the future.

Maserati Quattroporte (fifth generation)

We’ll start with a vehicle that you probably wouldn’t expect to see on the list based on usual sentiment towards Maserati cars. But with prices starting from £9,000 for the fifth-generation Maserati Quattroporte, it was a no brainer to include it on the list.

With a Ferrari-derived petrol V8 engine and super sleek looks for a saloon car, the fifth-generation’s eight-year absence from the market gives it a serious chance of earning classic status. And who wouldn’t be happy with saying they own a Maserati? Especially when you consider the most recent release of the sixth-generation model has a starting price of just over £75,000.

Renaultsport Clio 182 Trophy

Hot hatches are no strangers to causing a positive stir in the automotive world. Due to their high-performance nature, they tend to stand out among hatchbacks with an everyday purpose. And when you’re in the market for a hot hatch, you’re going to want to experience maximum thrills for the price you pay.

The Renaultsport Clio 182 Trophy’s chances of becoming a future classic are high. Firstly, its 2.0 litre engine inside a tiny supermini — which weighs less than a tonne — makes it a powerful vehicle despite its small presence. Secondly, only 500 right-hand drive models were produced by the French manufacturer, meaning your chances of getting your hands on the car when it was released in 2005 were slim, never mind 15 years later. With prices starting from £7,000, it could be a small price to pay for a car with plenty of performance capabilities.

Audi A2

Produced from November 1999 to August 2005, the now defunct Audi A2, provides car lovers with a genuine gap in the market, with the model originally situated between the German brand’s A1 and A3 models.

Built from aluminium, and with a futuristic look, the car was arguably ahead of its time and struggled to gain the commercial success Audi desired. But it may well be a case of the manufacturer and the consumer being left to kick themselves, as the car’s lightweight structure allows for a small, efficient engine that made the vehicle very economical to run — something that’s an expectation rather than a desire for new cars today.

The car almost was electrified back into existence in 2012, but Audi pulled the plug on an electric version of the vehicle due to a price tag that would have surpassed the €40,000 mark at a time when demand for e-vehicles was lower than it is now.

Over 20 years later and the car is now well on its way to becoming a future classic, thanks to a timeless design and an economical engine. You can pick up one up for less than £1000, but the price will naturally vary by specification, miles on the clock and overall condition of the vehicle.

And that completes the list of three affordable vehicles that we could well see earn future classic status in the future, and in the process, prove to be a worthy investment for car lovers.

British Bookmaker’s Debut in Washington DC a Success

Sam Allcock
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British Bookmaker’s Debut in Washington DC a Success

British bookmaker William Hill recently made headlines when it opened its first-ever sportsbook in Washington D.C. The company, a major bookmaker in the UK, has expanded heavily over the past decade to take advantage of growing international demand for sports betting. 

In its first month of activity, the D.C.-based sportsbook, which is located inside the Capital One Arena, reported $9.1 million of activity — a figure significantly higher than total betting activity at many long established, competing sportsbooks serting the region. 

Over the course of the month, the sportsbook processed a total of 69,085 bets and paid out an impressive $7.7 million to customers generating $1.4 million in total revenue.

Figures such as these are particularly impressive considering the company’s Washington D.C. sportsbook is currently a temporary facility, with a permanent sportsbook being built within the inside of the stadium in order to better serve customers.

William Hill’s D.C.-based operation is part of a partnership with US brand Monumental Sports and Entertainment, a sports and entertainment company operated by American investor Ted Leonsis. 

Monumental owns several Washington D.C. area sports teams, with the Washington Wizards NBA team and Washington Capitals NHL franchise part of its sports portfolio. 

Sports betting is a significant, growing industry, both in the UK and internationally. The American market has long been a major target for UK-based bookmakers thanks to its incredible size and the country’s high level of interest in competitive sports.

Interest has grown significantly in the wake of legal decisions in the UK that have paved the way for a large-scale betting industry outside of traditional centers such as Las Vegas.

In 2018, the United States Supreme Court reversed a federal statute that limited sports betting to the state of Nevada. As of May 14th, a total of 18 states that include upwards of 30 per cent of the US population now allow regulated sports betting. 

In the two years since the law change, more than $20 billion has been wagered with US-based sportsbooks — a figure that dwarfs the estimated £8 to £14 million bet in the UK on all forms of gambling, despite only a small percentage of US states currently allowing sports betting.

As more states begin to legalise regulated sports betting, experts predict that the total amount of money bet on sporting events will grow significantly, creating a fast-growing, lucrative market for established international sportsbooks.

Data shows that despite the establishment of offline sportsbooks, the majority of sports betting in the United States occurs online. According to ESPN, approximately 84 per cent of the $4.6 billion wagered via New Jersey sportsbooks during 2019 took place online. 

In addition to sports betting, American consumers have long been interested in online gambling in general, with casino games and other forms of betting attracting significant attention over the past several decades.

Aiming to tap into the large, prosperous American market, many European live casino operators have expanded their offerings to appeal to non-EU customers, adding slots and table games for specific international markets.

Many of these brands offer a live casino experience, with live dealers in place of the quieter and less personalised experience offered by many other casinos and betting companies.

With regulations changing across the United States, operators other than William Hill are paying more attention to the American market, with both bookmakers and casino brands aiming to take as much market share as possible.

As the bookmaker’s successful D.C. launch shows, the possibilities are significant, resulting in a lucrative industry for bookmakers and a larger selection of options for sports betting enthusiasts in the United States.

Defending my business against legal action from creditors

Sam Allcock
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Defending my business against legal action from creditors

If your business is on the receiving end of serious creditor pressure, the next step is likely to be legal action to force your business into making debt repayments. The severity of legal action can gradually increase over time if you no longer have the necessary funds to fulfil liabilities. The best way to protect your business is to fight the threat face-on by raising finance to repay your debts or to seek a company rescue or closure solution.

What action can a creditor take against my business?

A creditor will need to demonstrate that every possible avenue to recoup funds has been taken before issuing a winding up petition against your business to force it into liquidation. Here are some of the ways a creditor can launch legal action against your company to recover outstanding funds:  

Statutory Demand – A statutory demand is the first step which is a formal demand requesting payment, failure to fulfil the statutory demand could result in serious legal action. The statutory demand should be fulfilled in 21 days by either making the payment or entering into a payment agreement with the creditor(s).

County Court Judgment (CCJ) – A County Court Judgment is a form of legal action taken against a business, calling for the urgent repayment of debts. Failure to settle the debt within one month could leave a permanent mark, adversely affecting your credit rating as the CCJ will remain on your record for six years.

Winding up petition – If a statutory demand or County Court Judgment is ignored, a creditor can issue a winding up petition, which if granted by the court could lead to the forced closure of your insolvent business. This action can only be taken if the debtor owes £750 or more.

How can you dispute a winding up petition?

Object – If you have reasonable grounds to object the winding up petition, you should do this early to avoid advertisement in the Gazette which could draw other creditors to your door. The London Gazette publishes legal notices concerning insolvency action involving UK businesses.

Make repayment – If you have the funds to repay creditors, you should make repayment to prevent the court from issuing a winding up order. If the court date is set and you have repaid the debt, you must still attend court and show formal evidence illustrating settlement of the debt.

Negotiate payment plan – You can avoid company liquidation and the winding up petition can be withdrawn if you enter negotiations with the creditor and arrive at an agreement to repay the debt.

Seek formal insolvency procedure – If your business requires professional support to get your finances in order, seek urgent advice from a licensed insolvency practitioner to explore the business rescue or closure options available to your business. Taking a route as such could protect your business against legal action from creditors and the looming threat of forced closure.

What route can I take to rescue my business from debt?

Time to Pay Arrangement – A Time to Pay Arrangement (TTP) is a formal agreement with HMRC to restructure your tax liabilities into affordable instalments. A TTP is more likely to be accepted if you propose realistic repayments which are feasible. By spreading your tax payments following an agreement with HMRC, you can allocate any funds to repay your creditors.

Traditional or Commercial Finance – By borrowing funds to repay creditors, you can clear your debtor book, inject your business with cash and invest in your services, stimulating the growth of your business. Traditional finance consists of calling for investment from family and friends or turning to the bank for a business loan. Commercial finance is essentially asset-based finance to fuel working capital and increase cash flow. There are many variations of commercial finance which can be used to stimulate company development.

Company Voluntary Arrangement – Halting legal action from creditors, a Company Voluntary Arrangement is an insolvency procedure used to renegotiate payment terms with creditors to reduce the burden of repayment and to generate returns for creditors.  If your ailing business shows signs of viability and has the potential to generate profits, a CVA is an ideal way to keep creditors at bay and help rescue the business.

Company Administration – If you are experiencing creditor pressure and there is an indication that legal action will be launched against your business, an administration order could protect your business from company liquidation. This is a suitable route for an insolvent business with asset value, as by realising assets to generate funds to repay creditors, the business can avoid liquidation.

The route you take will be ultimately determined by the financial health of your business and the expected rate of survival. Facing the problem later than necessary could lead to the forced liquidation of your company, closing the door to any possible actions of defence. If you act early, you may be able to arrive at an agreement with creditors or seek the necessary support for your business.

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