24th February 2025 - Credit Connect

Sharp increase in ‘zombie’ companies

24th February 2025 Commercial Credit Management | #zombie companies

The number of UK mid-sized businesses at risk of becoming a ‘zombie’ company has risen, as rising costs and challenging economic conditions leave little breathing room for growth, according to new researchfrom accountancy and business advisory firm BDO. In the last 12 months, one in six mid-sized businesses (15.9%) have been deemed to be at risk…

Open Banking API call volume predicted to hit 720bn globally by 2029

24th February 2025 Consumer Lending | #open banking

A new study from Juniper Research has found the number of Open Banking API calls globally will increase 427%, from 137 billion in 2025. The report predicts Artificial Intelligence (AI) will become increasingly integrated with open banking offerings; creating personalised banking solutions for users for finance management and customisable loan allowances, driving the growth of…

Creation of new businesses plummets to eight-year low

24th February 2025 Commercial Credit Management | #new businesses

The dynamism of the UK’s private sector has plunged to its lowest ebb for eight years as bigger firms hit the rocks and new company creation according to research by Cynergy Bank. The Bank’s research draws on latest ONS data finding that in 2024, new company formations plummeted to 306,995, the lowest since at least…

Consumer confidence rises

24th February 2025 Consumer Lending | #consumer confidence

The GfK consumer confidence index has increased by two points to -20 over the month to mid-February, as households said they were becoming more optimistic about their personal finances and the economic outlook. The research found that the better-than-expected findings were driven by the Bank of England’s latest interest rate cut earlier this month. The…

Call for change to fix the barriers locking out entrepreneurs from mortgages

24th February 2025 Commercial Credit Management |

Better access to mortgages, banning ‘harsh’ personal guarantees, and ensuring entrepreneurs can have a comfortable retirement will encourage more people to launch small businesses, research by the Federation of Small Businesses (FSB) shows. The research found that a quarter (25%) of entrepreneurs say that being self-employed has made it more difficult for them to get…

IE Hub and Welfare Together announce partnership

24th February 2025 Company News |

IE Hub has announced a new partnership with Welfare Together, an organisation focused on supporting individuals and families struggling with debt. As part of the partnership, IE Hub’s free online budgeting platform will be merged with Welfare Together’s support services, helping individuals take control of their finances with ease. The budgeting tool allows users to…

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