Credit, Collections & Insolvency News
There was a 12 percent increase in the number of county court judgments against all businesses in England and Wales in the first quarter of 2019, according to figures released by the Registry Trust. The total value of the 35,779 business CCJs was £107.2million, a rise of six percent compared to the same period of…
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New figures released by the Finance & Leasing Association (FLA) show that asset finance new business (primarily leasing and hire purchase) grew by 11% in March, compared with the same month last year, and also by 11% in Q1 2019 overall. New finance for plant and machinery grew in March by 11% compared with the…
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Invoice finance broker, Touch Financial Support has appointed a new Head of Digital. Richard Leader, who joins from Funding Options will report to Touch Financial’s Chief Operating Officer Annabel Ah-Lim. With 20 years of experience in digital transformation and digital marketing, Richard has seen and driven change at all levels. As well as working with…
Read moreWhite Oak has announced it has appointed a new Chief Executive Officer (CEO) Managing Director following Peter Alderson’s retirement from the company. Carl D’Ammassa will become the firm’s new CEO. D’Ammassa joins White Oak UK from Aldermore Bank, where he most recently served as group managing director of the bank’s business finance division. There, he…
Read moreMore than three in four small business owners (76%) say business worries keep them awake at night. Whilst sleepless nights are most prevalent among owners of businesses that in serious decline (96%), the new research from Hitachi Capital Business Finance found that even those predicting growth for their business admit they seldom get a good…
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A new report published by Oxford Economics has found that a decade after the financial crisis, bank lending to small businesses has failed to recover significantly. The “Big Business of Small Business” report, launched in partnership with Funding Circle, finds that small business lending makes up a tiny proportion of banks’ overall balance sheets. In the UK,…
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Business lenders White Oak and Spotcap have entered into a partnership to improve access to finance for UK businesses. White Oak UK’s offering includes asset finance, commercial mortgages and business finance, while Spotcap provides fully unsecured business loans, without the need for a personal guarantee. With over 400 lenders operating in the UK market, yet…
Read moreNatWest has become the first UK bank to use biometric payment approval for all business payments. The new biometric payment approval feature allows business and commercial banking customers to make payments of any size through their Bankline Mobile app using Face ID or Touch ID, without the need for a card reader – a UK…
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Rimilia has announced that they will co-host an executive event with Microsoft that advises CFOs and CIOs how to use artificial intelligence to improve their financial operations and increase cash. The event titled The Change Catalyst in Working Capital will take place on Thursday, 16th May in London The event will present how global companies…
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The Central Bank of Ireland has published its first SME Market quarterly market report for 2019. The SME Market Report monitors developments in the provision of credit to Irish Small and Medium Enterprises (SMEs) by financial intermediaries. The SME Market Report for 2019 found that: Gross new lending to SMEs declined 1.7 per cent in…
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The Exchequer Secretary, Robert Jenrick, has marked the launch of the new funding that will be made available to innovative businesses through funds supported by the British Business Bank. Jenrick said ministers were determined to make the UK the best place in the world to start and grow a business. This type of funding has…
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Research released from Barclays has revealed that one in seven (14 percent) SMEs have fallen victim to an invoice scam in the last 12 months. Exclusive data from the bank also shows that a quarter (28 percent) of reported invoice scams resulted in losses of more than £5000. The bank’s figures also reveal that hotspots…
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Small and Medium Enterprises (SMEs) represent more than 99% of all European non-financial corporates and depend on banks for 70% of their external financing. Generating close to 60% of total Gross Value Added, they employ over 90 million people. Euler Hermes’ new study focuses on SMEs as critical actors in the European economy; it estimates…
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