Cashflow problems undermine four in ten small firms

Four-in-ten (38%) small and medium-sized businesses (SMEs) have suffered cashflow problems over the past two years, according to new research1 by Amicus Commercial Finance. The figure rises to two-thirds (65%) among medium-sized firms with between 50 and 250 staff. According to the study conducted among 500 small businesses owners, over the past two years one-in-seven (15%)…

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FCA publishes feedback reviewing crowdfunding rules

9th December 2016 Alternative Business Lending |

The Financial Conduct Authority (FCA) has given an update on the post-implementation review of the loan-based and investment-based crowdfunding market. Based on a review of the feedback received, issues seen during the supervision of crowdfunding platforms currently trading and consideration of applications from firms seeking full authorisation, the FCA believes it is appropriate to modify…

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Billions tied up in small business disputes

New research from the Federation of Small Businesses (FSB) shows disputes are costing small firms in England and Wales at least £11.6 billion each year. FSB’s latest report, ‘Tied Up: Unravelling the dispute resolution process for small firms’, reveals for the first time the scale of disputes in the economy and the costs spent chasing debts.…

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Irish SMEs wait the longest to be paid says global study into small businesses

Ireland’s SMEs are waiting the longest for payment from customers, according to the inaugural Global Business Monitor report from international business funder, Bibby Financial Services (BFS). The global study surveyed business owners in the USA, Germany, UK, Poland, Hong Kong and Ireland and found that Irish SMEs wait an average of 38 days for payment.…

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CICM welcomes draft regulation on payment practices

5th December 2016 Commercial Credit Management |

The Chartered Institute of Credit Management (CICM) has welcomed draft regulations that will require large companies to publish details on their payment practices, and the recognition of the Prompt Payment Code (PPC) as the ‘gold standard’ in the fair treatment of suppliers. Philip King, Chief Executive of the CICM, believes that Government has clearly listened…

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SMEs write-off £11,700 a year in unpaid invoices

Over three quarters (76%) of small and medium sized businesses (SMEs) have written off unpaid debts in the past year, according to new research by Amicus Commercial Finance. The average amount written off by UK SMEs in the last year is £11,708, representing just under £50 billion in written off debts, or £134 million every…

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Insolvency Notices: Winding Up Petitions – November 2016

1st December 2016 Business |

Petitions have been issued and advertised in the London Gazette for the following companies: 09232330 LIMITED 09247724 LIMITED ‎1ST RESET LIMITED ‎2 BRIDGE STREET LIMITED ‎519 CONSULTANCY LIMITED ‎A A COM LIMITED ‎A S HANUSCHI SERVICES LTD A1 COMMERCE HOLDINGS LIMITED ‎AB CARRIAGE LIMITED ‎ACCIDENT REPAIR CENTER LTD ‎ADVISORY SERVICES LONDON LIMITED ‎AFFECTIVE LOGIC LIMITED…

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Construction subcontractors feel forced to accept contract terms

30th November 2016 Business |

Over half of UK subcontractors believe they must accept the terms of contracts with large construction firms, or face the risk of losing future business, according to new research from specialist funder, Bibby Financial Services (BFS). Findings of the Subcontracting Growth survey show that the majority of firms (55%) do not believe they can influence…

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Company liquidation rate at all time low

28th November 2016 Business |

Insolvency Office statistics reveal that the company liquidation rate in England and Wales is at its lowest level since records began in 1984 and that there has been a continuous downward trend in the rate since 2011. In the 12 months to the end of September 2016, 0.41% of active companies (about one in 244)…

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CICM urges more support for better payment practice

17th November 2016 Commercial Credit Management |

The Chartered Institute of Credit Management (CICM)  has urged more support for Code in driving better payment practice. A business leader and expert in late payment has welcomed the report from the Federation of Small Businesses (FSB) into the impact of poor payment practice but challenged a proposal that signatories to the Prompt Payment Code (PPC) should…

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Small businesses waiting months for payment

14th November 2016 Business |

Supermarket giant Tesco has the worst payment performance amongst a list of the UK’s best-known retailers, taking an average of 105 days beyond terms to pay its suppliers. Iceland and Debenhams were the next two retailers on the list, taking an average of 75 days and 73 days beyond terms respectively to pay their suppliers.…

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Administrators appointed to American Apparel

9th November 2016 Business |

 Jim Tucker and Richard Beard of KPMG LLP were appointed joint administrators of American Apparel (UK) Ltd and American Apparel (Carnaby) Ltd   The companies run the UK retail and wholesale operations of the US branded high street fashion retailer American Apparel. The UK business trades from 13 stores. American Apparel’s brand and US business is…

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British businesses brush off Brexit vote

7th November 2016 Business |

Three-in-four UK businesses (74%) say they have yet to feel any financial impact – positive or negative – from the 23rd of June vote to leave the EU, according to new research by the insolvency and restructuring trade body, R3. However, 16% of all businesses, equivalent to 283,000 businesses, say the vote has already had…

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