Corporate governance change will help poor payment culture

29th August 2017 Commercial Credit Management |

The Government has announced changes to corporate governance. Commenting on the announcement Mike Cherry, the Federation of Small Businesses National Chairman, said: “Poor payments culture in the UK has grown into an epidemic, with research showing that a third of payments to small businesses are late. These practices are immoral, with the largest businesses using their dominant position to…

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New SME lender Redwood Bank launches

29th August 2017 Commercial Credit Management |

Redwood Bank, a new business bank for SMEs, has announced that just over four months after securing its initial banking licence, it has completed its “mobilisation” phase and has now opened for business, offering secured SME mortgages for business owners, as well as for experienced commercial and residential property investors. It has also launched a…

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Late payment remains a global issue

29th August 2017 Commercial Credit Management |

Late payments remain a persistent issue globally nearly a decade past the 2008 crisis, but the long-term outlook is optimistic. A 3% improvement in the cash-to-cash cycle of UK companies has released £8.8bn previously tied up in working capital, according to Grant Thornton’s latest UK Working Capital Survey. Individual businesses, not just the economy benefit…

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