9th September 2024 - Credit Connect

Forecast predicts that the economy faces slower growth

9th September 2024 Commercial Credit Management | #economy

The British Chambers of Commerce (BCC) has warned that the UK economy is set to grow at a slower pace, with gross domestic product (GDP) expected to decline to 0.4% in the third quarter and 0.2% in the final quarter of the year. The BCC expects the UK economy to grow by 1.1% for 2024,…

SMEs confidence grows

9th September 2024 Commercial Credit Management | #SME confidence

SMEs’ confidence is growing according to new research by Shawbrook wth nine in ten (86%) SMEs reportedly feeling confident about their business prospects, with a quarter (27%) saying they felt extremely confident. In comparison just 4% admitted to not feeling confident at all. The research also highlighted economic uncertainty and political uncertainty as top worries,…

Late payments increase by 48% with £348bn of debt outstanding

9th September 2024 Commercial Collections and Recoveries | #late payments

Over 3.6 million (72%) small and medium-sized enterprises (SMEs) have some form of outstanding late payment from customers, leaving them £96,772 out of pocket on average, according to new research from Aldermore’s SME Growth Index. The total value of late payments has increased from the end of 2023, up 41% from £68,715 with outstanding balances…

Consumers have an over-exaggerated fear of debt litigation

9th September 2024 Arrears and Recoveries | #debt litgation

A new report from the Credit Services Association has found that public perceptions of debt enforcement are at odds with reality, with anxieties about talking to a debt collector about arrears out of line with the likelihood of enforcement proceedings. The report titled ‘ Tackling the Engagement Gap: Addressing the reluctance of consumers to discuss…

Over half of people believe they are more competent in managing their finances

9th September 2024 Consumer Collections |

Over half (51%) of adults believe that they have become more competent in managing their finances over the past 12 months, new research by SmartSave, a Chetwood Financial brand, has found. The digital bank commissioned an independent, nationally representative survey of 2,000 UK adults, which revealed that due to their financial constraints, nearly half of…

ClearBank appoints Chief Financial Officer

9th September 2024 Appointments |

ClearBank, the enabler of real-time clearing and embedded banking, has announced the appointment of Valerie Romanovskaya as UK Chief Financial Officer, subject to regulatory approval. In this role, Romanovskaya will join ClearBank UK’s executive team and board of directors. Romanovskaya joins ClearBank following her role as Director of Finance and Head of FP&A at HSBC Innovation Bank.…

Create your Account:

1. Please fill in the boxes below with your email, tick the relevant newsletters you would like to subscribe to and click the Sign Up button.

2. Wait for the double opt-in page to open and confirm your email address.

3. You have subscribed and have agreed to receive the newsletters.

Credit Connect Media is committed to reserving your right to privacy. By using our website and services you consent to our collection and use of your information as described in or privacy policy.

Credit Connect Media has set up a network of business partners whose products and services may be interesting and useful to you. They may contact you from time to time. By subscribing you confirm that you agree to our Terms & Conditions statement.