Management buyout positions CCBS Group for another decade of growth

Award-winning commercial finance specialist CCBS Group has completed a management buyout, positioning the North East business for a dynamic new chapter following the celebration of its 10th anniversary last year.

The buyout sees Graeme Harrison, who joined CCBS five years ago to drive business development, take over as Managing Director. Founder Peter Cromarty, who established CCBS in 2014, will remain involved as Non-Executive Chairman, supporting the leadership team and continuing to work closely with clients.

Graeme Harrison said:
“We’ve built a resilient, client-focused business with an unwavering passion for delivering exceptional results for our clients. This transition marks an exciting new phase, and I’m looking forward to working with Michael Horner, Matt Lister, and the wider team to bring our ambitious plans to life.”

CCBS Group, known for its expertise in delivering bespoke funding solutions for businesses across the North East, has experienced consistent year-on-year growth since its inception. The company prides itself on providing clear, strategic advice for clients navigating funding landscapes, particularly during uncertain times and when traditional routes may be unavailable due to complex factors.

Reflecting on the journey to date, Peter Cromarty commented:
“It’s been an incredible journey, building CCBS from a one-man operation to a leading independent finance boutique with a team boasting over 125 years of lending experience. We’ve supported businesses through every stage of growth – from acquisitions and management buyouts to international expansion. I’m immensely proud of everything we’ve achieved, and I’m excited to see the business continue to flourish under Graeme’s leadership and the new management team.”

The strategic move, advised by Square One Law and BK Plus, ensures the business remains independently owned and firmly rooted in the North East. Management team members received legal and financial advice from Clark Mairs and The Advisory Group, helping to secure a seamless transaction process that underpins CCBS’s ambitions for long-term growth.

Harrison added:
“While to the outside world CCBS will look very much the same, this internal evolution strengthens our ability to deliver even more for our clients. Our ethos remains firmly in place – understanding client needs and delivering exceptional funding outcomes — but with a renewed energy and shared vision for the future. With our experienced leadership team, robust network of funders, and unwavering commitment to the businesses we serve, we are well placed for another decade of success.”

Looking ahead, CCBS plans to continue expanding its presence across the North East, building on its strong reputation for client service, industry expertise, and resilience. Recent investments, including the opening of a new office in Teesside, reflect the company’s ambition to support even more businesses across the region.

Harrison concluded:
“This is a proud moment for the team. We are passionate about the future and committed to growing CCBS in a way that stays true to our culture and values, and contributes positively to the North East business community.”

Short term secured finance – your favourite wingman

Let’s face it – sometimes business gets bumpy. And cashflow can suddenly feel like trying to fill a bath with a sieve. Enter short term secured finance: the unsung hero of business funding – and quite possibly the thing that keeps your plans from being parked indefinitely.

So, what is short term secured finance?

In the simplest terms, it’s borrowing money over a short period (typically 3 to 24 months) using an asset – like property, machinery, or invoices – as security. It’s fast, flexible, and usually less faff than a traditional bank loan. Ideal when time is tight and your business needs to move quickly.

When does it make sense?

You might consider short term secured finance when:

It’s not for keeping the lights on long-term—it’s the “get-it-done-now” option when you need money fast and you’ve got the assets to back it.

Not all lenders are created equal, and not every deal is a good one. That’s why working with the right broker — cough — makes all the difference. We get under the bonnet of your business, figure out what’s really needed, and then pull in the right funding match faster than you can say “short-term cash injection”.

Get in touch to discuss whether short term secured finance could help you over the next few months.

This month, we’re celebrating our 10th anniversary, a significant milestone for our team.

Founded by Peter Cromarty in 2014, CCBS has grown from a one-man operation working out of a home office to a thriving team with over 125 years of combined industry experience, headquartered in Newcastle with a new office in Teesside.

Reflecting on a decade of consistent growth, Peter acknowledges the journey has been marked by both triumphs and challenges:

“When I launched CCBS, we were emerging from the shadows of the 2008 banking crisis, and the funding landscape was shifting dramatically. Little did we know the curveballs still to come – Brexit, a pandemic, and political instability have all shaken the finance world. Yet, despite it all, our focus on supporting North East businesses has kept us strong and adaptable. There’s a lot of pride in reaching this 10-year mark.”

Our journey is peppered with milestones: from our first hire, Matt Lister, to its recent addition of Michael Horner, each team member has been instrumental in our commitment to finding tailored finance solutions for clients. We’ve also enjoyed a decade of steady year-on-year growth, which Peter credits to a team driven by clarity, expertise, and a genuine desire to see North East businesses thrive:

“Our success is built on putting people and relationships first. Navigating an ever-shifting finance landscape requires an in-depth understanding of not just numbers but the businesses and aspirations behind them. We pride ourselves on being trusted advisers who can guide clients through any storm.”

Looking ahead to the next ten years, we’re focused on expanding our service offerings while maintaining the high standards of personal service. We’ll be embracing new technology and as always, getting out and about to meet our clients and intermediaries across the region.

We’ve been busy with a wide variety of deals this summer – check out our Q3 highlights reel which showcases how we approached some of our clients’ challenging situations…

 

 

If you would like to talk to the team about your, or your client’s, situation – contact us today for an informal chat.

Tax time stress? Here’s how tax funding can save your cashflow

Ah, tax season – everyone’s favourite time of year, right? The joy of crunching numbers, the excitement of HMRC deadlines looming ever closer… Okay, maybe not. For most businesses, tax time can be a real cashflow killer. But what if there was a way to get ahead of the game and avoid the scramble? Enter tax funding, the unsung hero of working capital solutions.

Whether it’s VAT, corporation tax, or even R&D tax credits, tax funding gives businesses the flexibility to manage their tax bills without wreaking havoc on their cashflow. Let’s dive into the different types of tax funding available and why they might just be the answer to your tax-time woes.

1. VAT loans

VAT – it’s one of those unavoidable costs that likes to pop up quarterly and give your cashflow a nice little shock. But rather than scrambling to pull together enough cash to pay that bill on time, you could opt for a VAT loan instead. These short-term loans are designed specifically to cover your VAT liabilities, letting you meet your obligations without draining your bank account.

Here’s the beauty of it: you don’t have to repay it all in one go. With VAT loans, you spread the cost over the following quarter, usually in two or three manageable payments​. So, when HMRC comes knocking, you’re ready, and your cashflow stays intact.

Example:
Let’s say your VAT bill is £30,000. Instead of paying that lump sum straight away, you take out a VAT loan. You can now split it into 3 payments of £10,000 over the next few months. No drama, no stress, and your business can keep running smoothly.

2. VAT bridging finance – for those larger VAT headaches

If VAT loans are the sticking plaster for your typical VAT payments, VAT bridging finance is like bringing in the heavy artillery. This is particularly handy for businesses involved in property transactions, where VAT can be a significant cost that you’ll eventually reclaim – but until then, you’ve got a big, VAT-shaped hole in your cashflow.

With VAT bridging finance, the lender steps in to cover the VAT liability upfront, so you don’t have to. Once you’ve reclaimed the VAT, you use those funds to pay back the lender​. It’s a straightforward way to smooth out the bumps in big property deals and make sure your cashflow doesn’t take a hit.

Example:
Picture this – you’re buying a commercial property, and the VAT liability is £100,000. Rather than coughing that up and waiting months to reclaim it, you secure VAT bridging finance. The lender covers the VAT, you get the property, and when HMRC processes your reclaim, you repay the lender. Cashflow crisis averted.

3. R&D tax credit advances 

We all know R&D (research and development) can be a big win for businesses – both for innovation and for those sweet tax credits. But the problem with tax credits? You’ve got to wait for them to roll in. And if you’re investing heavily in R&D, waiting isn’t always an option.

Enter the R&D tax credit advance. This handy funding solution gives you an advance on your expected tax credit, so you don’t have to wait for HMRC to approve your claim. You get the cash upfront to cover your expenses, and once the tax credit is paid out, you repay the advance​. It’s a neat little way to keep the wheels turning while you wait for the taxman to play catch-up.

Example:
Your business is expecting a £50,000 R&D tax credit, but you need the cash now to continue your projects. By securing an R&D tax credit advance, you get a chunk of that money upfront, keeping your R&D efforts on track and your cashflow healthy.

4. Corporation tax funding

Corporation tax – the tax we all love to hate. While paying it is a sign your business is doing well (profits, yay!), it can still be a bit of a kick in the teeth when that bill lands. But what if, instead of forking over a huge lump sum, you could spread the cost over the year?

That’s where corporation tax loans come in. These are designed to help you manage your corporation tax payments without wiping out your cashflow. You can spread the payments over 12 months (or less), which is a huge relief if your business experiences seasonal fluctuations or has irregular revenue streams​.

Example:
Your corporation tax bill is £60,000, due next month. Rather than draining your account in one go, you take out a corporation tax loan and spread the cost over 12 months. That’s £5,000 per month, which feels a lot more manageable – and your cashflow remains in good shape.

Let’s face it, tax bills aren’t going anywhere. But with the right tax funding solution, you can manage your obligations without putting a strain on your cashflow. Whether you’re dealing with VAT, corporation tax, or waiting on R&D tax credits, there’s a funding option that can take the pressure off and keep your business running smoothly. Get in touch with our team to discuss any of the above, or your unique tax challenge.

Growth guarantee scheme opens the door to asset finance for more SMEs

Asset finance is the unsung hero of the business world, allowing companies to spread the cost of vital equipment, machinery, or vehicles over time. Instead of a massive upfront hit, asset finance lets you pay in manageable chunks. Now, with the new Growth Guarantee Scheme (an upgrade of the Recovery Loan Scheme), it’s about to get even better for UK businesses.

So, what’s the deal with this Growth Guarantee Scheme? Well, it’s designed to provide businesses with ongoing access to finance, as they recover from the pandemic’s aftermath. Whether you’re replacing outdated machinery or acquiring new tech to stay ahead of the curve, the scheme opens the door to asset finance solutions that were previously out of reach. Basically, it lowers the risk for lenders, meaning they’re more likely to say ‘yes’ to funding your business needs.

fleet of vehicles in car park

The magic of asset finance is in its flexibility. Thanks to the Growth Guarantee Scheme, SMEs can now explore a broader range of financing options without putting their balance sheets at risk. Whether it’s a hire purchase arrangement, leasing, or refinancing existing assets, you get more breathing room to manage your cash flow while still getting the kit you need to keep your business thriving.

For businesses worried about taking on too much debt, asset finance is a much more palatable option. And with the government’s backing, it becomes even less of a gamble for lenders. It’s a win-win: You get access to the tools your business needs to grow, and the lenders feel confident they’re making a sound investment.

 

If you’re looking to grow or upgrade but you’re concerned about cashflow, now’s the time to explore how the Growth Guarantee Scheme and asset finance could work for you. Get in touch with us today.

What is your role at CCBS and how did you get here?
I founded CCBS in 2014 after a number of roles working for financial institutions predominantly in the asset-based lending space. The role initially was to help North East entrepreneurs and business owners navigate the new funding landscape that had arisen after the banking crisis of 2008. The commercial finance brokerage element quickly moved to a little more than that, where we provide support to businesses around cashflow processes and often being a sounding board to clients who need help on strategic business decisions

What is your specialism in the team?
Other than running CCBS as a business, which takes more and more time as we grow, I mostly focus on all matters working capital finance. I have a lot of experience over the years, in corporate finance and corporate recovery transactions, which tends to help clients and professional intermediaries on deals.

What is a typical day like for you at CCBS?
The beauty about CCBS is that there isn’t a typical day, but it will consist of working on existing transactions with clients and intermediaries and looking for new ones too. That, interspersed with the nitty gritty of running the business and strategic planning, and supporting the team as best I can pretty much fills the time.

What do you do in your spare time?
I used to play a lot of rugby and cricket back in the day but I’m confined to watching those sports now. My real passion now is golf and I really enjoy playing socially and competitively in weekly competitions at Close House Golf Club where I’m a member. Other than that, spending time socially with my family and friends and also travelling.

Have you ever played golf naked?
Only once before and it was so cold the head fell off my mashie niblick.

If you weren’t Managing Director at CCBS, what job would you be doing?
Well if I had my choice I would be in a band, probably a lead singer and/or lead guitarist. On the basis I can’t play the guitar and I’m a dodgy karaoke singer at best then I think this was never going to be a reality, so realistically I think I would have been an insolvency practitioner as it’s the easiest job in the world.

What is your role at CCBS and how did you get here?
I’m a Debt Recovery Specialist so I support and improve collections processes for companies across all industry sectors. I’ve been doing this for over 20 years, working for asset-based lenders and accountancy firms.

What is a typical day like for you at CCBS?
I visit customers onsite to secure and back up all the information and documentation relevant to maximising recoveries then head back to the office to complete a full assessment of recoverability of the Sales Ledger. This includes pulling together a detailed report highlighting best and worse case scenarios with cashflow recovery forecasts and reconciliations.

What do you do in your spare time?
I have two boys aged 13 and 11, and a 3-year-old cocker spaniel called Stanley. I’m mostly a Mam Taxi to their hobbies and clubs like karate championships and swimming! I like pilates and yoga and my husband and I have a property management and holiday let business which takes up a lot of spare time too.

If you weren’t Debt Recovery Specialist at CCBS, what other job would like to be doing?
I’d like to be a professional sleeper and food critic (just for the grub)!

What is your role at CCBS and how did you get here?

My role is Relationship Development Director. I lead client engagement and retention at CCBS, supporting the team to maintain and develop their relationships with existing clients and nurturing my own client relationships. This includes initiatives such as the monthly client newsletter and events throughout the year. My focus is very much on our clients, I work for them and try to find them the best deal I can – the funders are very much part of what we do but our job is always to find the right funder for the client and their situation.

Prior to joining CCBS Group in May 2023, I spent 36 years working for NatWest in various roles, and that is where I first met Peter and Matt. In the last 20 years at the bank I was a Relationship Director, very similar to what I do now, but it has been great to work for an independent small business here in the North East and build some really strong relationships across the sector.

What is your specialism in the team?
I don’t have a specialism as such, but I do like looking at trading businesses who are looking to grow and need funding to assist this growth.  That could take the shape of asset finance, invoice finance or indeed growth capital. The interesting thing is that working for CCBS Group allows me to look at a much wider suite of lending products than I was ever able to do in previous jobs. For example at NatWest I would bring in an asset finance colleague to support on a deal, whereas at CCBS I am doing that in conjunction with a funder.

What is a typical day like for you at CCBS?
I will start with what a typical week looks like as I now don’t work on a Monday or a Friday, so my working week is Tuesday, Wednesday and Thursday.  I will let you work out the acronym. The theory of reducing your working week sounds easy although the reality is a little different especially having worked full time for over 35 years.  I am well organised and that is a key thing that you need when reducing your working week.  I still check emails on a Monday and Friday so that when I get to work on a Tuesday, I know what needs to be done.  I don’t want to spend the first hour of Tuesday wading through emails.  A typical working day involves coming into the office – I do not want to do my job sitting at home on my own – there is too much to learn and I couldn’t do it there. I always try and have at least one meeting per day with either clients, intermediaries, or funders. The rest of my time is spent progressing deals.

What do you do in your spare time?
Now I have a little more of that, my plan is to spend some of that with Helen (my wife) as she doesn’t work on a Friday and riding my bike (on a Monday when Helen is at work). I must admit that I have become a fair-weather cyclist during the winter and need to get my act together and get back on the roads and tracks. I have some cycling targets (ride 100km a week and more than same week last year) and I am ahead of both.

Have you ever tried cycling naked?
Only in the garage (door shut) BUT had to wear my shoes to clip into the pedals. So – not 100% naked.

If you weren’t the Relationship Development Director at CCBS, what other job would you like to be doing?
When I was little (believe it or not I was once) I wanted to be an astronaut.  Obviously, for a number of reasons that wasn’t going to happen, and I realised that quite quickly. Over the years I have spent a lot of time playing sport (mostly rugby) and coaching (football). The latter for the last 10 years and predominantly because my son played for the teams that I have coached. I really enjoy coaching (even U18s) and do think that I would have liked to have gone down that route as a career albeit that ship has sailed.

You can contact Steve to discuss any finance queries or situations by emailing steven@ccbsg.co.uk or calling the office on 0191 211 1450.

Did you know that there are grants available for businesses across the North East open NOW – from support with capital expenditure and creation of jobs, to setting up apprenticeships and installing EV charging points – that you could apply for?

Find out more below and contact us for further information:
If you would like more information on any of these opportunities, contact us on 0191 211 1450 or email info@ccbsg.co.uk.