The Covid-19 pandemic crisis is affecting the European payments landscape with businesses facing unparalleled uncertainty according to late insight research by European credit management specialist Intrum. The report indicates sharp drops in GDP across Europe are now pushing down revenues for businesses, restricting cash flow while increasing pressure on businesses to manage their cash and…

The Finance & Leasing Association (FLA) has published its recovery plan for the economy – Shaping the UK’s future prosperity: recognising the opportunities for recovery – which recommends a phased approach of short, medium and long-term measures that will ultimately position the UK to meet the Government’s key objectives of achieving a net-zero, low carbon…

The overall number of company insolvencies in England and Wales decreased by 50% in June 2020, when compared to the same month last year. This was primarily driven by a decrease in the numbers of CVLs and compulsory liquidations which fell by 45% and 78% respectively. Additionally, there was a 60% decrease in the numbers…

More than 1.1 million businesses backed by £46 billion through Covid-19 lending schemes according to the latest HM Treasury figures. The figures show that the banking and finance industry has approved £46.3 billion to over 1.1 million businesses so far through government-backed coronavirus lending schemes with Almost 1.05 million small and micro businesses have received…

The latest figures from the Insolvency Service have shown that business insolvencies decreased in Scotland  in June 2020 Company insolvencies decreased by one-third when compared with the same month last year (June 2019. Figures from the  Accountant in Bankruptcy (AIB), Scotland’s Insolvency Service, administers company liquidations and receiverships in Scotland show there was 46 company…

The latest figures from the Insolvency Service have shown that personal insolvencies increased in Northern Ireland during June 2020. The figures show that there were 272 individual insolvencies in Northern Ireland, up 42% from June 2019; this consisted of 242 IVAs, 24 DROs and six bankruptcies. The increase in individual insolvencies was driven by delayed…

ACCA (the Association of Chartered Certified Accountants) has joined with champions of small business to call for more help for the troubled sector in the wake of Covid-19. The call came in a roundtable discussion hosted by ACCA with the Forgotten campaign, which supports small limited company directors affected by the coronavirus; the Corporate Finance…

The boss of a UK Challenger Bank is urging business owners to ‘recoup what they are owed’ with the help of a free Government-appointed support service. Gary Wilkinson, Chief Executive Officer and Co-Founder of Redwood Bank, recommends that small business owners tackle late payment issues with help from the Small Business Commissioner (SBC). The SBC…

1 2 3 107