Credit, Collections & Insolvency News
The Institute of Economic Affairs has called for the Serious Fraud Office (SFO) to be replaced with a new agency focused on preventing economic crime. The SFO has been plagued by a series of high-profile failures, including ethical misconduct and incompetence. In 2021, a high-profile bribery conviction of a former Unaoil executive was overturned due…
Read more
New research by Zempler Bank has shown that microbusinesses struggle to make over £10,000 in salary The data highlight the day-to-day challenges facing UK entrepreneurs. For many of the UK’s 5.3m microbusinesses, the opportunity to be their own boss is highly attractive, but entrepreneurship isn’t without its challenges. When asked how much they take in…
Read more
Latest analysis of ONS data has found that the average weekly household expenditure was £567.70 in the financial year ending (FYE) 2023, a nominal increase of £38.90 from the previous year (7%); however, after accounting for inflation this was a real-terms decrease of £21.10 (4%). The greatest real-terms reduction in expenditure was in food and…
Read more
The latest Federation of Small Businesses Small Business Index (SBI) for Q2 2024 saw the headline confidence reading tumble to -10.8 points, a fall of 16.3 points from Q1’s +5.5 points. Construction was the least optimistic of the main sectors, with a score of -20.7 points. The wholesale and retail sector was not far behind,…
Read more
Ofgem has confirmed that the energy price cap will rise 9.5% in October, to £1,717 for an average user, adding £148.92 to an average bill or £12.41 a month. The removal of the winter fuel payment for those on low pension incomes, who don’t qualify for pension credit, will make it even tougher to make…
Read more