Scottish debt decrees fall to record low

8th February 2017 Business |

The number of debt decrees registered against Scottish businesses fell to the lowest recorded level during 2016, according to figures released today by Registry Trust. There were 3,523 business decrees in Scotland during 2016, 24 percent fewer than the previous year. The total value surged to £45.8m, the highest on record, but this was due to…

Read more

UK organisations suffering from ‘fraud tunnel vision’

7th February 2017 Commercial Credit Management |

Despite over half (56%) of UK organisations being affected by fraud, confidence levels in fraud prevention techniques is remarkably high, reveals research from Callcredit Information Group. The Fraud & Risk report of 201 Fraud Prevention Managers and Directors, finds that a majority of businesses (75%) believe they are one step ahead of fraudsters, with a…

Read more

Call to tackle unregistered judgements in Ireland

7th February 2017 Business |

The number of debt judgments recorded in Ireland’s Four Courts fell to a historic low during 2016, according to figures released today by Registry Trust.  There were 2,155 judgments registered against consumers in 2016, 38 percent fewer than the previous year and a record low. The total value of consumer debt judgments similarly fell to…

Read more

Brexit will lead to corporate insolvencies rise: R3 study

6th February 2017 Business |

An overwhelming majority of industry experts believe the UK’s decision to leave the EU will lead to a rise in corporate insolvencies over the next year, according to a new study by R3. A survey of insolvency and restructuring firms also shows that 55 per cent believe their finances “have been hurt” since last June. Insolvency…

Read more

New Small Business Cash Management guide launched

The Chartered Institute of Credit Management (CICM) and the Federation of Small Businesses (FSB) have launched a new guide to support small businesses in managing cash through Brexit. The guide is titled Managing Cash Through Brexit guide to highlight the basic principles of cashflow and credit management to help steer businesses through the current uncertainty. The guide…

Read more

UK insolvency levels will increase by 5%

1st February 2017 Business |

UK business failures will rise by 5% in the next 12 months as the economic slowdown, rising input prices and increased late payment risks begin to take their toll, according to Euler Hermes. This is in sharp contrast with the rest of the continent, where insolvencies will fall by 4% in Western Europe and 1%…

Read more

Late Payment government announcement welcomed by FPB

1st February 2017 Commercial Credit Management |

The Forum of Private Business (FPB) has welcomed the announcement from the Department for Business, Energy & Industrial Strategy (BEIS) that late payment of small business invoices is to be a focus of the Minister for Business. They claim that the issuance of guidance to large businesses on how to pay on time is probably…

Read more

Company insolvencies numbers broadly unchanged in 2016

1st February 2017 Business |

The latest Corporate Insolvency statistics from The Insolvency Service have been released. The report shows that the total number of company insolvencies was higher in 2016 than the previous year, primarily caused by 1,796 connected personal service companies entering liquidation on the same date following changes to claimable expenses rules. The underlying number of company insolvencies…

Read more

Downward insolvency trend coming to an end

26th January 2017 Business |

Euler Hermes has released an economic statement suggesting two years of substantial declines in insolvencies is about to end.  Ludovic Subran, chief economist at Euler Hermes said “This is happening because global growth is not accelerating and will linger below +3% in the coming years. Companies are therefore more vulnerable to external shocks.” At a global…

Read more

Corporate insolvency increase in second half of 2016

23rd January 2017 Business |

Analysis from KPMG has shown that 2016 saw the reversal of a six year downward trend in levels of insolvency for British businesses, following an uptick in companies entering into administration in the second half of the year. The numbers, taken from notices in the London Gazette, show that 1,174 companies, or groups of companies, entered…

Read more

Dun & Bradstreet and CICM announce partnership

17th January 2017 Commercial Credit Management |

Dun & Bradstreet has become a Corporate Partner to the Chartered Institute of Credit Management (CICM). Dun & Bradstreet will work closely with the CICM to provide insight from its payment data in support of the Prompt Payment Code and will also continue to be active at the CICM’s quarterly Think Tank meetings.   Ed Thorne,…

Read more

Insolvencies start to increase as currency pressures hit UK businesses

16th January 2017 Business |

 New analysis from KPMG reveals that 2016 saw the reversal of a six year downward trend in levels of insolvency for British businesses, following an uptick in companies entering into administration in the second half of the year. The numbers, taken from notices in the London Gazette, show that 1,174 companies, or groups of companies,…

Read more

EFCIS appoints Director of Sales

10th January 2017 Appointments |

EFCIS has announced the appointment of  Marc Trathern as it’s new Director of Sales. With 15 years of sales experience working for large corporate entities within various sectors, Trathenr has gained a wealth of knowledge during this time and developed a proven track record of over achievement. Tracthen said “I am very excited and grateful for…

Read more