11th July 2025 - Credit Connect

Pubs will close at rate of one a day this year

11th July 2025 Commercial Collections and Recoveries | #pub closures

The British Beer and Pub Association (BBPA) has warned that one pub will close every day this year, with a projected 378 closures across England, Wales, and Scotland. The industry body, which represents more than 20,000 pubs, estimated that the pub closures would amount to more than 5,600 direct job losses. The BBPA says that…

Business confidence hits three-year low

11th July 2025 Commercial Credit Management |

Business confidence in the UK has fallen to its lowest level in three years according to ICAEW’s Business Confidence Monitor. Tax worries, weakening economic conditions and growing global volatility pulled UK business confidence deeper into negative territory in Quarter 2. The research put confidence at -4.2 on the index, its weakest reading since Q4…

Concern raised that Ofwat billing change will impact business customers

11th July 2025 Business Utilities | #business water bills

The Consumer Council for Water (CCW) is concerned that Ofwat’s decision to change the billing accuracy requirement in the Customer Protection Code of Practice (CPCoP) will negatively impact business customers. The consumer watchdog strongly believes the change to the code, which now states that retailers only need to issue one customer bill a year based…

FCA closed 1,600 financial services websites last year

11th July 2025 Consumer Lending | #financial fraud

The Financial Conduct Authority’s (FCA’s) annual report has shown that over 1,600 websites suspected of promoting financial services without permission were suspended, removed or blocked in 2024. The regulator also collaborated with big tech platforms, resulting in over 50 apps being removed from Google Play and the App Store, helping the regulator to block fraud at…

Two-child limit and benefit cap at odds with commitment to end child poverty

11th July 2025 Arrears and Recoveries | #universal credit

Latest Government statistics have shown that in April 2025, 469,780 Universal Credit households were affected by the two-child limit policy: that is, they had a third or subsequent child born on or after 6TH April 2017. This was an increase of 13,520 (3%) from the total number of households affected on either Universal Credit or…

Only half of mid-retirees confident their private pension will last for life

11th July 2025 Consumer Lending | #retirement

New research by Aviva and Age UK has found only half (48%) are confident they are on track to make their private pension savings last for life. Just over a quarter (26%) reported feeling financially secure, with women (19%) feeling less financially secure than men (32%). The research surveyed 1,000 mid-retirees aged 65-75 who have…

One in five SMEs are currently struggling to pay tax bills

11th July 2025 Commercial Collections and Recoveries | #business debt #business tax

Around one in five SMEs believe it will become more difficult to pay tax bills in the year ahead as business tax rises come into effect, new research from Premium Credit shows. The study by the leading provider of finance for businesses found worries about paying tax bills are a long-standing issue for SMEs but…

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