6th July 2023 - Credit Connect

Together hires Group Chief Operating Officer

6th July 2023 Appointments | #appointments

Specialist lender Together has bolstered its executive team by appointing experienced financial services leader John Barker as the Group’s Chief Operating Officer (COO). In his new role as Group COO at Together, Barker will take responsibility for operations across the Cheadle-based business, which provides personal and commercial secured finance and has a loan book of…

Millions of older people borrowing money and unable to pay bills

6th July 2023 Arrears and Recoveries | #cost of living #old people debt

One in five (3.4 million) people aged 50-69 and one in twelve of over 70s (670,000) in the UK have had to borrow more money or use more credit than usual in the last month compared to a year ago, new research by Age UK has found. The analysis showed that 1.3 million over 50s have a…

Higher wages driving business price rises

6th July 2023 Commercial Credit Management |

Higher wages are the driver of price rises for two-thirds of businesses, according to the British Chambers of Commerce’s (BCC). The findings also showed that the pace of wage increases had become the biggest cost headache in the period, replacing energy bills. The Quarterly Economic Survey (QES) for Quarter 2 2023 shows that less than half of firms…

Five restaurants a day are shutting down

6th July 2023 Business | #restaurant insolvencies

Research analysis by Price Bailey shows that restaurants closed at their highest rate in a decade in the first three months of the year. A total of 569 restaurant businesses filed for insolvency in Q1, an average of 5.6 per day. The Quarter 1 data shows that over the last 12 months, 2,028 restaurants have…

Four out of five small businesses turning a profit

6th July 2023 Commercial Credit Management | #business news

Latest research by Purbeck Personal Guarantee Insurance has revealed that 78% of small businesses are currently turning a profit. While one in five (19%) are breaking-even and 44% are in the black by a small margin, over a third (34%) said they are making a good profit. just 3% are loss-making and 1% close to…

Freedom Finance Mortgages appoints new Commercial Director

6th July 2023 Appointments |

Freedom Finance Mortgages (FFML) has announced it has promoted Gareth Wallace to be its new Commercial Director. The mortgage advisory business, focuses on second charge mortgages. Wallace has worked for the company for eight years and has previously held the position of operations manager and sales underwriting. Wallace said “As the UK economy continues to…

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