Government reveals airline insolvency reform

16th October 2019 Commercial Credit Management |

New legislation is being proposed by the government to create a new class of special administration to allow failed insolvent airlines to be able to fly passengers home. Under the existing system, when an airline folds its planes are grounded, leaving passengers at risk of being stranded The government believes enabling the CAA to use…

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UK companies to cut costs and hiring in next 12 months

15th October 2019 Commercial Credit Management |

Chief Finance Officers (CFOs) are intensifying their focus on cost control, with 58% saying it is a strong priority for the next 12 months, according to Deloitte’s latest CFO Survey. This is the highest level for ten years. Almost two-thirds of CFOs (65%) say their business faces high or very high levels of external financial…

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British SMEs least likely to invest

15th October 2019 Commercial Credit Management |

SMEs are least likely to invest in their businesses during the remainder of 2019 according to the latest Global Business Monitor from Bibby Financial Services (BFS) and trade credit insurer, Euler Hermes. The report offers insight into the opportunities and threats faced by SMEs worldwide, based on a survey of businesses across 13 regions, with…

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Call for swift appointment as late payments leader steps down

14th October 2019 Commercial Credit Management |

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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Late payments causing mental health issues among freelancers

11th October 2019 Commercial Credit Management |

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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Asset finance new business increases 11%

10th October 2019 Commercial Credit Management |

New figures released by the Finance & Leasing Association (FLA) show that total asset finance new business (primarily leasing and hire purchase) held steady in August 2019, but was up by 6% in the twelve months to August, compared with the same period last year. The commercial vehicle finance, and plant and machinery finance sectors…

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Third of businesses concerned about Brexit supply chain impact

9th October 2019 Commercial Credit Management |

One third (33%) of UK businesses are concerned about the potential impact Brexit will have on their suppliers and customers, according to new research from R3, the insolvency and restructuring body. The research, a survey of 1,200 senior business financial decision-makers, carried out for R3 by BVA BDRC, found that 11% of businesses have reviewed…

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No deal Brexit threat holds back spending

9th October 2019 Commercial Credit Management |

The Spectre of a no-deal Brexit is holding back consumer spending according to the latest figures from the British Retail Consortium. The figures show that in September, UK retail sales decreased by 1.7% on a Like-for-like basis from September 2018, when they had decreased 0.2% from the preceding year. This is worse than both the…

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One in three SMEs struggling with cashflow

9th October 2019 Commercial Credit Management |

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 rise for first time in ten years

7th October 2019 Commercial Credit Management |

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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SMEs expecting business performance to worsen

7th October 2019 Commercial Credit Management |

Small firms are calling on the Government to secure a Brexit deal and come forward with radical policy interventions to arrest a dogged lack of confidence among business owners as new FSB research shows rising costs and uncertainty increasingly taking their toll.Its SBI confidence measure stands at -8.1 in Q3 2019, down more than six…

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Commercial Credit & Collections conference confirms January date

4th October 2019 Commercial Credit Management |

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…

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UK economy facing ‘heightened risk of recession’

4th October 2019 Commercial Credit Management |

The 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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