Credit, Collections & Insolvency News
The current uncertain economic climate caused by the COVID-19 pandemic is, for many, bringing back memories of the 2008 recession. In these fast-moving times, we see the importance of maintaining the smallest possible DSO levels come to the forefront in order for businesses to maintain a sustainable cash flow. As a result, during challenging times…
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It’s estimated that more than 59 zettabytes (ZB) of data will be created, captured, copied, and consumed in the world in 2020 – compared to just 1.2 trillion in 2010. Managing and using these vast volumes can be overwhelming but acting on gut instinct when it comes to making strategic decisions and moving in new directions…
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B2B businesses are a substantial contributor to the UK economy. It’s estimated that 40% of UK businesses derive all or most of their revenue from B2B trade, and a further 42% of businesses derive at least some of their income from it1. This huge portion of the economy is also more susceptible to the trade…
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The Resolution Foundation has predicted that the coronavirus crisis will see Britain’s 15-year squeeze on household incomes prolonged, with pay cut by £1,200 annually within the next four years. The Foundation’s report ‘Here Today, Gone Tomorrow ‘shows that the Covid crisis is causing immense damage to the public finances and permanent damage to household finances…
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Specialist home credit provider Morses Club, says its revenue increased by 14.3% to £133.7 million (FY19: £117 million) in its preliminary results for the 53 weeks ended 29 February 2020. The listed business also reports a statutory pre-tax profit of £11.5 million (FY19: £20.2 million). Total credit issued to Home Collected Credit (HCC) customers was…
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As consumers prepare for one of the biggest shopping days of the year, Cifas, the UK’s leading fraud prevention service, is warning shoppers of the dangers of online fraud. With a large proportion of the UK still in lockdown, online sales are expected to soar this Black Friday as shoppers look for bargains on the…
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The Money Advice Trust, the charity that runs National Debtline and Business Debtline, has announced Baroness Tyler of Enfield as its new President. Baroness Tyler takes over the role from Baroness Coussins who will remain involved with the charity as an Ambassador. Otto Thoresen, author of the ‘Thoresen Review’ into financial advice that led to…
Read moreWomen approaching retirement are facing a confidence conundrum: they are the most anxious about being able to afford a comfortable retirement yet are the least likely to consider alternative funding options to plug the gap. A new report published by the Equity Release Council (the Council) and finance specialist, Key, titled The Pension / Property…
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The Institute of Directors (ioD) has welcomed the reinstatement of a key insolvency protection for company directors, the suspension of liability for so-called ‘wrongful trading’, through a statutory instrument laid before parliament. In June, the Government introduced emergency coronavirus legislation to facilitate a time-limited suspension of director liability for ‘wrongful trading’ applying from 1 March…
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Late payments have escalated since the onset of the coronavirus pandemic, according to the latest UK Payment Practices Barometer by trade credit insurer Atradius.. The new report reveals that nearly half the value of Business to Business (B2B) bills are being paid late, while half of the businesses surveyed have been hit by revenue loss…
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The opportunity of a triple win is clear – engaged and empowered employees, better business performance and competitor differentiation, and helping address the climate crisis – but the areas that need your real workplace attention in 2021 probably aren’t what you’d expect. Over the years there have been many predictions about what the world of…
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In the Questions and Answers article Julian Hudson, Head of Trade Credit, Chubb, provides a brief overview of Chubb’s trade credit capabilities and insights into current market conditions. When did Chubb Global Markets start writing trade credit business? Chubb Global Markets has been underwriting Political Risk & Credit business for over 20 years. We operate…
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Credit Connect has announced its annual Credit & Collections Technology company power list for 2020. The section edition of the power list is a round-up of the most prominent innovating companies within credit and collections technology. Credit Connect has identified the top 20 ‘Premier’ innovators highlighting the achievements and successes of the top-performing companies.The list…
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