Credit, Collections & Insolvency News
The UK economy grew by 0.5% in February, according to the Office for National Statistics (ONS), the biggest monthly rise in more than two years. The ONS said the services sector, which accounts for more than three-quarters of the economy, grew by 0.5%. Production output also grew by 0.5%, while construction rose by 1%. The…
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The percentage of small businesses predicting growth for the next three months (28%) remains largely unchanged from last quarter (27%) – although 78% of enterprises go into the summer fearing the economic impact that geo-political and economic tensions will have on their businesses, according to new research from Novuna Business Finance. Based on polling a…
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New data shared by independent SME lender, Time Finance, has shown a significant rise in web searches for Asset Based Lending (ABL), in an encouraging sign business owners’ awareness, appetite and uptake of multi-product finance is on the rise. Analysis of search data from Semrush has shown that average monthly searches for Asset Based Lending…
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Accountants and financial advisers warn that clients are increasingly struggling to pay tax bills with Corporation Tax the biggest concern, new research* from Premium Credit, a leading provider of finance for businesses, shows. The number estimating that at least 15% of clients found it difficult to pay tax bills (37%) has more than doubled from…
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Business lender 365 Finance has reported a sharp rise in the demand for funding from high street businesses, with a staggering 43% increase in restaurants opting for revenue-based finance when comparing Q1 2026 in-house data to Q1 2025. Among SMEs in the hospitality industry that increasingly seek finance, the owners of pubs and bars are…
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Retail footfall in the UK increased by 2.4% in March, driven by Easter shopping, according to the British Retail Consortium (BRC). However, this boost fell short of retailers’ expectations. Total UK footfall increased by 2.4% in March (YoY), up from -4.7% in February. High Street footfall increased by 2.0% in March (YoY), up from -5.4% in…
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Business optimism among UK CFOs has fallen to a six-year low, according to Deloitte’s latest survey of Chief Financial Officers (CFOs). CFO confidence fell to a net -57% from -13% in the previous quarter, with concerns around energy prices, inflation and interest rates surging in the wake of the situation in the Middle East. As…
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More than half (55.8%) of failed payment transactions among UK SMEs are never recovered, according to new research by Access PaySuite. The survey of 250 UK SME finance and payments decision-makers found that 3.4% of transactions fail on average. Nearly 50% of SMEs experience checkout abandonment, with an average rate of 7.8%. Whilst almost one…
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Increasing numbers of businesses are seeking protection against bad debt as they navigate tough trading conditions, according to SME funder, Bibby Financial Services (BFS). BFS’s latest SME Confidence Tracker reveals that the average amount SMEs are owed in unpaid invoices is £66,770 – a 10 per cent increase year-on-year – and 30 per cent have…
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The ICAEW’s Business Confidence Monitor shows sentiment has fallen for a fifth consecutive quarter, reversing earlier signs of recovery. Before the conflict, businesses had reported improving domestic sales and easing inflation, but rising geopolitical tensions have sharply dented optimism. Labour costs and energy price volatility remain the biggest pressures on firms. Business confidence in the…
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Small business confidence is crawling back from historic lows, but without Government action, fresh cost pressures could drag it straight back down, the Federation of Small Businesses (FSB) has warned. FSB’s Small Business Index (SBI), which tracks how optimistic small firms are feeling, registered at -53 in Q1 2026, 18 points up from Q4 2025’s…
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Rising energy costs, supply chain disruption and ongoing geopolitical uncertainty linked to the Middle East conflict are already impacting the majority of UK businesses with two thirds (66 per cent) reporting experiencing energy and fuel cost pressures, while shipping and logistics costs (43 per cent) are also weighing on margins. According to the latest Barclays…
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Small businesses say that the hike in energy prices following the war in the Middle East will cost them an average of £2,273.90 extra a month, according to new research conducted by Novuna Business Finance. Whilst many consumers have noticed prices soaring at the pumps, small businesses need energy in various other ways. The national…
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