Credit, Collections & Insolvency News
Invoice insurance startup, Nimbla has announced a commercial partnership with business insurer, QBE, with the goal of bringing affordable trade credit insurance to small and medium-sized businesses. The new partnership makes Nimbla a delegated underwriting authority of QBE and allows Nimbla to expand into new geographies through the global capabilities and professional network of QBE.…
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The latest Aldermore Future Attitudes study has revealed that nearly a fifth (19%) of UK SMEs have missed a new opportunity in the past 12 months due to a lack of available funding. Medium-sized businesses are worst hit, with over a quarter (28%) saying they have been affected. The report, which surveyed over a thousand…
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Small businesses are collectively subject to almost 10,000 cyber-attacks a day, according to new findings from the Federation of Small Businesses (FSB) One in five (20%) small firms say a cyber-attack has been committed against their business in the two years to January 2019. More than seven million individual attacks are reported over the same…
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The latest Lloyds Bank Business Barometer has shpown that overall business confidence was steady in July at 13%, in line with the average this year, but below the long‑term average of 24%. Trading prospects for the year ahead fell by 3 points to 19%, but economic optimism rose 1 point to 6% Employment expectations rose…
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Smart infrastructure solutions company, Costain has been reinstated to the live Prompt Payment Code list. The Chartered Institute of Credit Management (CICM) has acknowledged the group’s real and fast progress to ensure its suppliers are paid in line with the requirements of the code. In a press announcment, Cosatain said “Costain was an early signatory…
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New research from Begbies Traynor, the UK’s leading independent insolvency firm, reveals there are now 484,000 UK businesses in significant financial distress with the property, leisure and tourism sectors particularly badly affected. The Red Flag Alert data for Q2 2019, which monitors the financial health of UK companies, found that 14% of all UK businesses…
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Latest figures from the Insolvency Service have shown that the number of company insolvencies increased in Q2 2019 compared with Q1 2019 this was driven by an increase in creditors voluntary liquidations, Compulsory liquidations, administrations and company voluntary arrangements (CVAs) decreased in Q2 2019 Company insolvencies, in Q2 2019, increased to 4,231 (2.6%) its the highest…
Read moreNearly half (44%) of the UK’s SMEs, equating to 2.5million businesses, are struggling with cashflow as they attempt to prepare for Brexit, according to the latest SME Confidence Tracker from Bibby Financial Services. The report, which surveys one thousand business decision makers on a quarterly basis from across the UK, found that there has been a 6% rise (to 29%) in…
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Retail sales fell for the third consecutive month in the year to July, marking the longest period of decline since 2011, according to the latest CBI monthly Distributive Trades Survey. The survey of 93 firms, of which 46 were retailers, showed that sales volumes fell in the year to July, albeit to a lesser extent…
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County Court Judgments (CCJs) against businesses in England and Wales rose four percent in the first half of 2019, according to new figures released by Registry Trust. Year-on-year numbers have risen for the past three years and in the first half of 2019 are 56 percent higher than 2016’s record low, for a first half-year,…
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The number of corporate business insolvencies in Scotland fell by 15% in April-June 2019 compared with the previous quarter (January-March 2019), and fell by 2% compared with the same quarter the previous year (April-June 2018) according to latest Accountant in Bankruptcy (AiB) statistics. The number of Scottish registered companies becoming insolvent or entering receivership decreased…
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The number of permanent pub closures across England and Wales has halved in the first six months of 2019 compared to the previous half-year, analysis of government data has revealed. A total of 235 pubs closed in the UK in the six months to June, according to new analysis by Altus Group, an average of around forty pubs each…
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In 2018, Global Working Capital Requirement (WCR) hit its worst level since 2012 (+1 day, 70 days). The evolution of WCR indicates which businesses have improved, or in this case, deteriorated, their capacity to maintain operating cash flow and internal funding for investment according to a new study by Euler Hermes. The report focuses on Working…
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