Credit, Collections & Insolvency News
At the Autumn Budget last year, the Chancellor tightened the rules surrounding poor payment practices by introducing deterrents for late taxpayers and encouraging large businesses to improve payment culture. Late payments are responsible for stifling growth, eliminating investment opportunities, and creating serious cash flow shortfalls for SMEs, which subsequently raises the risk of insolvency, hinders…
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Debt charities are calling for a fundamental overhaul of the personal insolvency system in England and Wales, warning that current debt remedies are no longer working for people in crisis or for creditors. In a new joint paper Citizens Advice and the Money Advice Trust, the charity that runs National Debtline, have set out a…
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Research by TSB has found that among the 31 per cent of people who have acted on financial advice on social media platforms, over half (55%) lost money as a result. The data found that over two-fifths (42%) of 16-24-year-olds reported having used social media to access financial advice in the past 12 months, followed by…
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The percentage of UK small businesses predicting growth has fallen for the fourth consecutive quarter, plummeting to the low levels seen during the lockdown era of 2020, according to new research from Novuna Business Finance. A year on from the Labour Government taking office, the immediate ‘Election Bounce’ in small business confidence (35%) has fallen…
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