Credit, Collections & Insolvency News
Sales on credit are on the up despite the prevailing economic challenges as UK businesses strive to appear more attractive to potential customers, reveals the latest economic report by trade credit insurer Atradius. The Western Europe Payment Practices Barometer research report by Atradius found offering credit was being used by UK firms as a tool…
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Around 1.5 million businesses face a greater risk of having their energy supply disconnected than the average household, and of exploitation by unscrupulous energy brokers. This is all due to a lack of protections in the microbusiness market, according to a new report from Citizens Advice. Microbusinesses, which make up 96% of all UK businesses,…
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Ofgem is proposing new reforms for existing suppliers to drive up customer service standards, reduce the risk of energy supplier failure and strengthen the safety net. Increased competition in the retail market has benefitted consumers with cheaper deals, put pressure on incumbent suppliers to improve their customer service offering and brought in new and innovative…
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681,000 UK individuals and businesses are so far behind on their tax bills that they have been forced to reschedule their payments with HMRC, research UHY Hacker Young shows. Taxpayers are able to reschedule their tax payments with HMRC by agreeing ‘time to pay’ arrangements. These allow taxpayers to pay their taxes over a longer…
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New research from Begbies Traynor has revealed that numbers of businesses in significant1 financial distress has increased 40% in the three years since the EU referendum, affecting 489,000 UK businesses with the real estate and property, construction, retail and travel sectors the most severely affected. The latest data for Q3 2019 found that a large…
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Two in five small business owners (40%) say they are taking legal action against customers not paying them on time and many bosses are foregoing their own salary in order to ensure their employees get paid on time – according to new research from Hitachi Capital Business Finance One in five business owners (20%) are even…
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Paul Uppal has stepped down from his role as Small Business Commissioner. Fiona Dickie, the Deputy Pubs Code Adjudicator, will provide oversight in the Small Business Commissioner role until early November, pending the appointment of an Interim Commissioner. An open recruitment campaign to appoint a new Small Business Commissioner will get underway immediately. The role…
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Over three quarters (76%) of freelancers have experienced mental health issues as a result of late paying clients in the last 12 months, according to new research. In its latest report Late Payments: The Cost to Business and Our Health, Hitachi Capital has investigated the mental health impact of late payments on the UK’s SMEs…
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Rising costs are the greatest challenge facing small businesses around the world, according to the latest Global Business Monitor study from global SME partner, Bibby Financial Services (BFS) and global leader in trade credit insurance Euler Hermes. Findings of the research, based on a survey of more than 2,300 SMEs in 13 countries across Asia,…
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Global insolvencies are rising for the first time in a decade with the greatest uptick seen in the UK, reports leading economists at trade credit insurer Atradius. The Insolvency Outlook report by Atradius forecasts business failure rates in developed markets will increase by 2.8% this year – the first rise since the global financial crisis.…
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The second Commercial Credit & Collection conference has been confirmed as Thursday 23rd January by the organiser Credit Connect Media. The event will once again be hosted in partnership with CVR Global and Aon. The conference will tackle issues across the full life-cycle of business credit and collections. The conference series also aims to provide…
Read moreThe latest Purchasing Managers’ Index data for the service sector highlights the rising risk of a recession in the UK. The drop from 50.6 points to 49.5 points in September, means the service sector is the latest to fall below the neutral 50-points line that divides expansion from contraction. This is only the fifth time…
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In September, Winding Up Petitions (Companies) have been issued and advertised in the London Gazette for the following companies: 1 LOVE COMMUNITY C.I.C. 4 SEASONS WINDOWS DOORS & CONSERVATORIES LTD AAM FAST FOODS LTD ABSOLUTE VINTAGE LTD ACTIVESALE LTD ADBASE LTD AFFINITY ELECTRICAL SOLUTIONS LTD ALL STAR LEISURE (GROUP) LTD AMERICAN SWEET WORLD LTD AMIR…
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