R3, the insolvency and restructuring trade body, has launched its 2019 election manifesto, which sets out the policies that will help the insolvency and restructuring profession continue to support businesses and individuals going through financial distress. These include: The abolition of plans to make HMRC a priority creditor in insolvencies The introduction of the proposed…

The  Commercial Credit & Collections conference has confirmed its speaker agenda for the next event which takes place in January. CVR Global and Aon’s Commercial Credit & Collections conference agenda now includes speakers from Onguard and Cifas whilst three Credit Managers will debate the impact of technology on credit management. The event will open with…

Bank lending to small and medium sized (SME) retailers in the UK has fallen 6% from £15.6 billion to £14.7 billion since the Brexit vote in 2016, meanwhile large retailers have benefited from a sharp rise in bank lending, says accountants and business advisors, Moore. Over the same period that lending to SME retailers has…

Nearly half of small business owners and managing directors (47 per cent) had to stop their own pay due to the impact of unfair payment practices by their buyers, according to new survey findings from engineering services trade bodies ECA and BESA. Overall, three-quarters of business owners said they had made sacrifices, including reducing their…

Samantha Barrass has been named as the first Chief Executive Officer of the Business Banking Resolution Service (BBRS). The BBRS has been set up to resolve disputes between small and medium-sized businesses and their banks to deliver independent transparent, fair and reasonable outcomes The BBRS is backed by Britain’s six biggest high street lenders. Sarrass…

Construction company Laing O’Rourke has been reinstated to the Prompt Payment Code (PPC). The company has been reinstated to the Government’s code seven months after being removed for failing to pay suppliers on time. The Prompt Payment Code is a voluntary code which is administered by the Chartered Institute of Credit Management (CICM)on behalf of…

High street chains have closed almost 6,000 stores so far this year, according to the Centre for Retail Research, which also revealed that retailers with 10 or more stores have already closed 5,834 shops in 2019 – up 77% on the whole of last year. Some 708 shops have been closed by large retailers falling…

The number of manufacturing businesses entering insolvency has hit a five-year high rising 7% to 1,466 in the last year (to 30 September 2019) up from 1,373 the previous year, says chartered accountants and business advisors, Moore. Moore says that the rise in manufacturing businesses going insolvent is being driven in part by Brexit-related uncertainty…

Over half (54%) of the UK’s SMEs, equating to 3.1 million businesses, admit they had not prepared in any way for Brexit ahead of the 31 October deadline according to the latest Q3 SME Confidence Tracker from Bibby Financial Services. Fewer SMEs are investing and the amount they are investing on average has also fallen.…

Responding to the speech delivered by Labour leader Jeremy Corbyn this morning, Federation of Small Businesses (FSB) National Chairman Mike Cherry, said “It’s very positive to see the Labour party putting late payments and business rates at the top of its business agenda.” “Our late payment crisis remains the biggest scourge afflicting the UK’s small…

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