The Lending Standards Board (LSB) and the Money Advice Trust, the charity that runs Business Debtline, have published a report that explores the impact of vulnerable circumstances on people who run small businesses. The report draws on insight gathered from LSB registered firms, as well as interviews with money advisers and clients of Business Debtline,…

Freelancers and micro-business owners throughout are suffering from late payments from clients, new research has revealed. Large businesses continue to pay suppliers late as late invoices payments continue to drive more small businesses into financial distress. The new research from cloud accounting software company FreeAgent has revealed that UK-wide, just 52 per cent of invoices sent…

The number of failures of UK companies has risen 30.0% to 4,827 in the second quarter of the year, compared to the same period a year ago, according to the latest figures from Creditsafe’s Watchdog Report. The quarterly Watchdog report, which analyses financial data across 12* UK business sectors, showed that high profile high street…

The Government has published its Brexit white plans on the future relationship between the UK and the European Union Commenting on the document Duncan Swift, Vice-President of insolvency and restructuring trade body R3, said “It’s encouraging to see the Government take post-Brexit cross-border insolvency issues seriously, and we welcome both the commitment to seek a…

Credit risk analytics expert, Jaywing, has announced a new partnership with specialist SME bank Hampshire Trust Bank (HTB). Increasing regulatory demands on small banks via their ICAAP and SREP poses new challenges to firms who need to be able to actively identify, understand and manage all aspects of risk that their organisation faces in the…

An independent study commissioned by Dun & Bradstreet reveals a UK business community that believes it has already lost out due to the EU referendum. When asked how the Brexit process has affected business finances, 43% of business leaders say they have felt a negative financial impact since the Brexit vote. More than a third…

The number of UK company directors disqualified has increased for the third year running to 1,231 in 2017/18, according to analysis from Moore Stephens. Thre research also shows that bans for disqualified directors are getting longer. The UK has tightened its disciplinary regime for rogue directors, with the number of disqualification orders increasing to 1,231…

Following the recent increase in company voluntary agreements (CVAs), the British Property Federation (BPF) has called on the government to conduct an urgent review. The BPF believes the process is now being misused, saying that this risks undermining the UK’s global reputation and deterring much-needed investment into town and city centres, at a time when it…

Reforms should be made to improve the effectiveness of Company Voluntary Arrangements, a common High Street insolvency procedure, according to research commissioned by insolvency and restructuring trade body R3 and supported by ICAEW. The research report, produced by the University of Wolverhampton and Aston University, recommends a cap on CVA lengths, more time for companies…

Big business has been put on notice by the Federation of Small Businesses (FSB) and warned that they must do more to end late payments, poor payment practice and supply chain bullying that is damaging the UK economy. A letter from FSB National Chairman, Mike Cherry, to all FTSE 100 companies urges Chairs and CEOs to…

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