Credit, Collections & Insolvency News
Business confidence in the UK halved in the third quarter as worries over higher interest rates and weakening sales growth bite, a survey of business leaders has found. Sentiment tracked by ICAEW’s Business Confidence Monitor (BCM) put confidence at 2.9 on the index for Q3 2023, down from 6.1 in Q2 and below the pre-pandemic…
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ICAEW has announced that Alan Vallance has been appointed as its new Chief Executive. Vallance is expected to take up the role in Spring 2024. He will succeed Michael Izza, who has been Chief Executive of the Institute since 2006. Izza announced in March his intention to retire from ICAEW by the end of this…
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Small businesses in the UK are facing a worsening late payment crisis, with payment times hitting a three-year high. According to Xero’s quarterly small business index, small firms are waiting an average of 29.4 days to be paid by their customers, with payments in September being made 7.7 days after the due date. The manufacturing…
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Here is an overview of The Money Charity’s latest statistics for October 2023 Personal debt in the UK People in the UK owed £1,846.5 billion at the end of August 2023. The average total debt per household, including mortgages, was £65,756 and per adult was £34,716, around 100.4% of average earnings. Net mortgage lending increased by…
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