Credit, Collections & Insolvency News
The Financial Stability Board (FSB) has published the Global Monitoring Report on Non-Bank Financial Intermediation 2018. The report presents the results of the FSB’s eighth annual monitoring exercise that assesses global trends and risks from non-bank financial intermediation. It covers data up to end-2017 from 29 jurisdictions, which together represent over 80% of global GDP. The…
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The number of businesses in ‘significant’ financial distress now stands at 481,000, leaping by 15,000 during Q4 2018, after a winter of uncertainty, according to the latest Red Flag Alert research from Begbies Traynor. The hardest hit sector was real estate and property, which not only saw a 7% (3,134) increase in the number of…
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Graydon, a provider of business data, insights, analytics and data-solutions has announced that the business is to launch in Ireland. Graydon has appointed Jonathan Cushley to spearhead its strategic growth in Ireland, where he will be focused primarily on Graydon’s innovative new onboarding platform, an AI-based, turnkey solution that simplifies credit, fraud and compliance processes…
Read moreScotland’s largest non-domestic water supplier, Business Stream, has bought the customer base of its competitors Yorkshire Water Business Services (YWBS) and Three-Sixty, both part of the Kelda Group, doubling its market share and cementing its position as one of the top three retailers in the UK water market. The acquisition which will take effect this…
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UK Finance has published its latest business finance update for December 2018 which reveals that lending to manufacturers grew by 8.4 percent in the year to December 2018, in contrast to a 0.3 percent contraction in overall UK business borrowing. There was also annual growth in borrowing by the transport and accommodation and food service…
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New research from Experian has revealed businesses in the South West have the strongest average business credit scores in Britain, while London ranks as the lowest. Organisations in the South West have an average business credit score of 54.7 – up from 53.4 last year. A business with this score is considered a below average…
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UK small firms have raised their concerns about weak economic growth, consumer demand and high lending rates in the latest Federation of Small Businesses (FSB) Small Business Index (SBI). Amid persistent political uncertainty, the domestic economy is flagged more often as a growth constraint by small businesses than any other common barrier to expansion. Close…
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Research out today from SAP Concur has revealed that 31 per cent of UK businesses consider growth during 2019 to be critical. Almost all respondents (99 per cent) stated that growth had some level of importance to their business over the next few years. In addition, 96 per cent reported that their company is planning…
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Strengthening the Prompt Payment Code, adopting Project Bank Accounts, and assigning Non-Executive Directors for the supply chain, are vital reforms needed to protect small suppliers against another Carillion payment practices scandal. One year on from the collapse of the construction giant, the Federation of Small Businesses (FSB) is urging the Government to implement a three…
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New figures released by the Finance & Leasing Association (FLA) show that asset finance new business (primarily leasing and hire purchase) in November was at a similar level to the same month in 2017. The plant and machinery finance and business equipment finance sectors reported new business up in November by 9% and 8% respectively,…
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The number of UK business insolvencies is set to rise by 9% this year, even if a deal is agreed with the EU before the Brexit deadline, according to trade credit insurer Euler Hermes. The company’s latest Global Insolvencies Index reveals a further 23,660 businesses are expected to become insolvent in 2019 compared to last…
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A new industry careers site for the credit industry and collections industry has been launched by Credit Connect Media. The website is a careers platform which aims to connect the UK’s top credit and collections industry talent with the best career options. Credit-connection.co.uk is an industry careers website sharing the latest job vacancies and a training course…
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A new report from Euler Hermes has warned that company’s need to prepare for another year of rising insolvencies with based upon the collateral damage of low growth and tightening financial conditions. The report says that in 2018, global insolvencies confirmed an upward trend which started in 2017 after seven consecutive years of sizable declines.…
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