Credit, Collections & Insolvency News
Most businesses are optimistic about their prospects for 2025, with new surveys indicating plans for growth despite lingering economic challenges. According to Lloyds Bank’s monthly survey of 1,200 businesses revealed that about 70% expect their turnover to rise in the coming year, an increase from 62% recorded in December 2023. Additionally, 73% of respondents expressed…
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New research by Go.Compare Money has revealed Britain’s biggest money concerns for the new year, with 45% of people saying they are anticipating a bad year financially. The survey asked consumers about their feelings towards their finances as the new year begins, as well as their top money worries. It found that more women (47%)…
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The retail sector is braced for a challenging year, with a record 17,349 shop closures forecast for 2025, according to the Centre for Retail Research. If the forecast is correct then this would surpass the previous record of 17,145 in 2022. Last year, 13,479 shops closed and 169,395 retail jobs were los marking a 28% increase from…
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According to a free money advisory service, nearly 4,000 people searched for debt help over Christmas. Data from the Money Wellness website showed that 3,994 people visited the website on Christmas Eve, Christmas Day, and Boxing Day seeking advice on dealing with unmanageable debt. Almost 2,000 (1,835) people in London searched for support, followed by…
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Business confidence in the UK has fell to its lowest level at the end of 2024, dropping two points to 39%, according to the latest Lloyds Business Barometer. Despite the fall, 55% of businesses expressed optimism about the broader economy, with nearly two-thirds anticipating stronger output. However, 19% of respondents plan to reduce their workforce,…
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IE Hub has announced a new partnership with Smart Money Cymru, which provides finance and savings accounts to those living in Wales. The new partnership will enable Smart Money Cymru customers to share their finances and plan a manageable budget via IE Hub as well as maximise income and reduce outgoings. Smart Money Cymru is…
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Scotwest Credit Union has announced a partnership with LendingMetrics to install automated underwriting technology to speed up decisioning. The Glasgow-based provider, which offers loans and savings accounts. David Wylie, Commercial Director of LendingMetrics, said: “After considering a range of options, Scotwest decided ADP represented their optimal choice. They particularly liked the facility to change rules…
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