Credit, Collections & Insolvency News
Persistent low confidence holds back SME borrowing with CYBG’s SME Health Check Index falling by 6.6 points to 48.5 in the first quarter of 2019. this is the lowest level for a year. Despite the gloomy top-line figure, and persistent low confidence amongst the country’s SMEs, there are grounds for cautious optimism with GDP and…
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Almost half (44%) of UK businesses avoid or delay paying bills due to issues within their cashflow. Other commonly cited reasons for non-payment of invoices include receiving an incorrect invoice (21%) and corporate bureaucracy (20%). These were some of the findings of the FinTech Barometer 2019, an annual survey conducted among 1,000 finance professionals by…
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Companies around Europe predict increased bad debt losses, later B2B payments and higher debt risks are ahead, according to the European Payment Report from pan-European credit management firm Intrum. Across Europe, the 2019 report shows an increase in bad debt losses, following several years of declining write-offs. Almost one-fifth (18%) believe their country is already…
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A new European Payment Report 2019, from European credit management services company Intrum, has indicated that an increase in bad debt losses following on from several years of decline means marking that the turning point from a recession may have already passed. Almost one-fifth of those surveyed (18 per cent) believe their country is already…
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Seven in ten small firms do not expect their performance to improve over the coming three months, according to the latest research from the Federation of Small Businesses (FSB). Its quarterly UK SBI confidence measure stands at -8.8 in Q2 2019, down 22 points compared to the same period in 2018, marking a fourth consecutive…
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New figures from the British Retail Consortium-KPMG Retail Sales Monitor analysis show that retail sales suffered their worst month in 24 years. UK shoppers shunned the high street last month leading to sales plunging in May faster than at any time in the past 24 years. Sales dropped 2.7% in the four weeks to May…
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Growing pressure on the retail sector could increase risk-taking in the supply chain, data in a new report suggests. With more than 7,500 shops closing in 2018 and high street brands hitting the headlines, if retailers are not able to manage the trade-off between risk and cost, it could lead to further store closures and…
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More than half of small business owners say they want more help managing their finances, with almost a third adding they have lost sleep over money matters as Brexit continues to dominate the UK economy according to a report funded by small business finance broker Funding Options. Fifty-one per cent of small firms said they “need…
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Invoice finance and trade finance company, Working Capital Partners, have been placed into Administration. According to reports, the insolvency appears to be as a result of recent client fraud. Working Capital Partners, were also members of UK Finance (the industry body for the asset finance sector. The company offered a selective invoice finance service, a…
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The UK’s top 100 restaurants made an £82 million loss in the last year, down from a pre-tax profit of £102 million twelve months ago according to new research by UHY Hacker Young. Pre-tax profits at the UK’s Top 100 restaurant groups have fallen from £345 million since the first quarter of 2017. The huge…
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The proportion of small businesses predicting growth for the next three-months has fallen to 34% – its lowest level for eight successive quarters and, for the first time, the proportion of businesses predicting significant expansion has fallen below 5%. The new research from Hitachi Capital Business Finance asked a nationally representative sample of 1,184 small…
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Outsourcing group G4S has been accused by the small business commissioner of “persistent late payment” towards one of its suppliers and its payment practices are being investigated. In a report, the Small Business Commissioner says a business approached them in December 2018 regarding late payment fees in relation to a project undertaken for G4S. The…
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Dun & Bradstreet’s 2019 Global Bankruptcy report has revealed that business failures have declined globally, despite increased economic challenges. However, with global economic challenges on the rise, most regions are forecasted to grow more slowly than in 2018, with the number of business failures forecast to increase in the coming months. Forty-nine percent (49%) of…
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