Credit, Collections & Insolvency News
SMEs believe access to finance could become harder over the next three years, with the late payment of invoices flagged as an area of concern. A study by MBH Corporation found that while 40% of SME leaders believe applying for funding will become more difficult, just 10% expect the process to become easier. The study…
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Independent motor finance broker and technology provider Evolution Funding has announced it has appointed Daniel Reeve as its Chief Technology Officer (CTO). Prior to joining Evolution, Reeve held a number of senior technology appointments, including CTO at one of UK’s leading car park management companies, CTO at Capita (Travel and Events), and Technical Director at…
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The owners of small businesses in the UK are reporting increased levels of stress and anxiety as they try to plan a route back to profitable trading, according to a survey from ACCA UK (the Association of Chartered Certified Accountants) and The Corporate Finance Network (CFN). A figure of 37% business owners said they were…
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The number of pensioners in poverty has now passed the two million mark, with Black and Asian older people most at risk of struggling financially in later life, according to analysis by charity, Age UK. The charity is working with the DWP to encourage pensioners on low incomes to see if they can receive a…
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The trade body UKHospitality has warned that the newly announced four-week delay to restrictions being lifted could cost its sector as much as £3 billion in lost sales and will have a knock-on effect on bookings throughout the summer and into the autumn. Operators of bars, restaurants and nightclubs have been put under huge financial…
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The Federation of Small Business (FSB) is leading calls for a new strategy to help bolster ailing hospitality and tourism sector. Research by FSB has highlighted the devastating impact of the pandemic on the UK’s tourism and hospitality sector and its supply chain, and outlines what small firms, which make up the majority of the…
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The High Court Enforcement Officers Association (HCEOA) has released new guidance on VAT. The HCEOA has written to all members with an updated recommendation regarding the treatment of VAT on High Court enforcement fees, ahead of expected new guidance from the UK Government. The HCEOA has recommended to all members that their treatment of VAT…
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Figures from the British Business Bank and Beauhurst show that investment in UK small businesses hit a record high last year, with equity investment up 9% to £8.8bn. SMEs continued to draw investment in Q1 2021, with £4.5bn raised in the first three months of the year. Catherine Lewis La Torre, CEO, British Business Bank,…
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Almost 200,000 travel jobs already lost or at risk due to the pandemic according to new analysis from ABTA which estimates that 195,000 people working in the UK travel industry have either lost their job or are at risk of losing their job. The Association is reiterating its calls for the UK Government to provide…
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