SMEs believe access to finance could become harder over the next three years, with the late payment of invoices flagged as an area of concern. A study by MBH Corporation found that while 40% of SME leaders believe applying for funding will become more difficult, just 10% expect the process to become easier. The study…

Almost 200,000 travel jobs already lost or at risk due to the pandemic according to new analysis from ABTA which estimates that 195,000 people working in the UK travel industry have either lost their job or are at risk of losing their job. The Association is reiterating its calls for the UK Government to provide…

The Government has announced that a ban on landlords evicting firms for unpaid commercial rent is being extended for another nine months. The ban, which stops landlords from taking tenants to court for non-payment, was due to end on 30th June. The Government says that the extension to the order will give places such as…

The Government has announced the extension of temporary insolvency measures which includes the restrictions on issuing of winding up petitions and statutory demands. The change to the regulations will mean restrictions on statutory demands and winding up petitions will remain for a further three months until 30th September 2021. The measures were introduced in the…

Nearly half of companies have said that they were lucky to have survived 2020 according to new research by Intrum. The research as part of Intrum’s sixth UK edition of the European Payment Report 2021 also found that companies have also taken the opportunity to tighten payment terms and focus on liquidity. However, most businesses…

Half of all business to business (B2B) credit sales in Asia are overdue, according to the latest Payment Practices Barometer from trade credit insurer Atradius. Many Asian businesses polled in the region are feeling the pinch of the global pandemic recession with around 40% of respondents pessimistic about the outlook for their Days Sales Outstanding…

Latest figures from the Insolvency Service have indicated an 8.8% increase in business insolvencies in England and Wales when compared to April’s figure of 929, and increased by 6.9% compared to May 2020’s figure of 946. The figures show that business insolvencies increased to 1,011 in May 2021 compared to April’s figure of 929, and increased…

Latest figures released by Accountant in Bankruptcy (AIB) have indicated that Scottish business insolvencies rose by 46% in May 2021. The figures show that there were 51 business insolvencies registered in Scotland, this was 46% higher than in May 2020 but 35% lower than in May 2019. This was comprised of eight compulsory liquidations, 37…

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