The Office for National Statics (ONS) has reported that fraud crime in England and Wales has hit 3.3million in its latest statistical bulletin. Responding to the reportt John Cannon, Commercial Director Fraud & ID, Callcredit Information Group, said: “Today’s ONS statistics, reveal that there were 3.3 million incidents of fraud in England and Wales alone, and over half…

Credit insurer, Atradius latest report has indicated that nine out of ten suppliers surveyed in Asia Pacific experienced late payment of invoices from their B2B customers over the past year. To protect their businesses from late payments, 33.3% of the suppliers surveyed reported having taken specific measures to correct cash flow. Despite the ongoing deceleration…

The cyber security risk to UK organisations continues to increase in both severity and impact, but nearly one in five (17%) admit they don’t prepare or drill for cyber attacks, and fewer than half (49%) conduct penetration tests to examine their defences according to a new report by PWC.   PwC’s Global State of Information Security Survey…

Credit management software suppliers, OnGuard and Credit Tools have they announced that they have completed their merger. The companyies have announced that the new company will be calledOnguard. In addition to a cosmetic change, the newly created company will create a software platform in which customers can resolve all issues which arise within the order to cash chain.…

Nearly half (44%) of SMEs have never checked their company’s credit score, according to research from RateSetter Business Finance. Credit scores are used by lenders to determine whether businesses have a good track record of repaying debt, and are therefore one of the key factors affecting an SME’s ability to get a loan. Credit reference…

New Government figures show that less than half of eligible English councils have begun allocating their share of the £300 million business rates hardship fund launched six months ago. Sixteen English councils have not implemented any of the three business rates relief measures announced by the Chancellor at the Spring Budget. The area worst affected…

An OECD report has concluded the UK’s insolvency and restructuring framework is the most effective in the organisation at preventing a build-up of productivity-sapping zombie companies, says UK insolvency and restructuring trade body R3. The report, ‘Insolvency regimes, zombie firms and capital reallocation’, says that zombie companies – struggling companies aged 10 years or older…

Debt owed to suppliers across key UK business sectors has risen by 95.4% to £962 million between July and September 2017, eclipsing the 1.5% rise seen at the end of Q2. Bad debt owed to companies also increased by 12.2% to £247million, up 55.6% since the start of the year. This signals a worrying trend…

The next two years will bring significant challenges to UK businesses, many of which may succumb to insolvency as a result. ICAEW conducted a survey of those working with the insolvency and business restructuring sectors* and asked what they felt would be the three greatest threats to British businesses over the next two years, the…

55% of UK small businesses are still not familiar with the General Data Protection Regulation (GDPR) despite its introduction being now less than a year away, according to a new business research by Collyer Bristow. The survey further reveals that the knowledge of GDPR is higher in larger businesses. However, 30% of executives at companies…

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