In Asia Pacific, the number of businesses taking a more strategic approach to credit management is increasing according to new research by Atradius. While global GDP growth is forecast to slow from 3.2% in 2018 to 2.7% this year, global insolvencies are expected to rise 2%.  As an integral part of the global supply chain,…

Fifteen of the seventeen businesses highlighted for poor payment practice in May have filed action plans or are preparing submissions to improve their treatment of smaller suppliers, demonstrating the effectiveness of the Prompt Payment Code. Philip King, Chief Executive of the Chartered Institute of Credit Management (CICM), says firms have responded positively to approaches by…

Celebrity chef Jamie Oliver’s British restaurant chain filed for bankruptcy protection on Tuesday, mainly due to increased competition and escalating rents in local commercial districts according to reports. The insolvency will leave 1,000 people out of work. Oliver wrote on Twitter “I’m devastated that our much-loved UK restaurants have gone into administration, I am deeply…

Vehicle credit management specialist,  Anglia UK has announced it has appointed Keith Hayward as its new Sales Director Hayward brings a wealth of experience in banking and vehicle finance, having spent the majority of his working life within the RBS group. Prior to joining Anglia, he led Lombard’s Wholesale Funding division for 10 years, managing…

North Wales debt recovery agency specialist CCI Credit Management (CCICM) has announced that it has earnt its first prestigious Chwarae Teg FairPlay Employer Award for workforce inclusivity and gender equality. CCICM was awarded top-level ‘Leading’ status by Chwarae Teg – the foremost equality charity in Wales – for diversity best practice in 10 areas of…

The announcement by Chancellor Philip Hammond that HM Revenue and Customs (HMRC) would revert to secondary preferential creditor status for taxes collected on its behalf in all insolvency situations will likely have a significant negative impact on lending to UK Plc, according to analysis by Duff & Phelps. In a return to the pre-Enterprise Act…

HMRC is continuing its campaign of targeting restaurants and takeaways as financial stress makes tax evasion more tempting for smaller operators in the sector, says the accountancy and business advisory firm, BDO. According to BDO, restaurants and takeaways account for 26% (200 of 775)* of businesses ‘named and shamed’ by HMRC as ‘deliberate tax defaulters’ since…

A report detailing the major economic and political updates of North American markets has been published by global trade credit insurer Atradius. The Atradius North American Country Report is a free publication for any business that is trading, or seeking to trade, within the region. Richard Reynolds, head of Strategic Accounts for Atradius UK, said…

New research by fraud investigation technology provider HooYu has identified loopholes at Companies House that enables individuals to register as a director, to run businesses and to enable fraud and money laundering, even after they have been struck-off from holding company directorships. The analysis also uncovered over 500 so-called “chameleon” directors who have been disqualified…

The latest statistics from the Valuation Office Agency’s ‘Check, Challenge, Appeal’ business rates system show a 97% drop in the number of businesses challenging their rates bills in the last two years in England, compared to the two years following the previous revaluation. Responding to the figures, Federation of Small Businesses (FSB) National Chairman Mike…

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