Credit, Collections & Insolvency News
Businesses in the UK have reported decreasing bad debt losses in a sign of a strengthening economic environment. On average, businesses wrote off 2 percent of annual revenue due to non-payment in the past 12 months; a decrease from the 4.7 percent reported by UK companies in 2017. The findings are part of the European Payment…
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As a strong sign of a stable economic development in the majority of Europe, businesses are reporting decreasing bad debt losses. On average, 1.7 percent of the yearly revenue had to be written off due to non-payments in the past 12 months; a decrease compared to the 2.14 percent reported by European companies in 2017…
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The number of small firms planning to decrease investment has hit an 18-month high, according to new research from the Federation of Small Businesses (FSB). It was announced on Friday that UK business investment fell to £46.1 billion between Q4 2017 and Q1 2018. Seven in ten (69%) small firms are not planning to increase…
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New research released by Callcredit Information Group has revealed that over half (59%) of businesses predict a serious fraud incident or security breach within the next year if they continue with their current technology, processes and tools. In addition, a further 17% of those surveyed revealed that this is something they have already experienced. The…
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As the largest data protection changes in a generation, the General Data Protection Regulation (GDPR), comes into force today, there are concerns that many small businesses are still unprepared. The warning comes from the Federation of Small Businesses (FSB) alongside a call on the Information Commissioners’ Office (ICO) to take a sensible and proportionate approach…
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The number of retailers entering insolvency has increased by 7% in the past year from 999 in 2015/16 to 1,071 in 2017/18 according to new research by insolvency specialist RPC. RPC says that the retail sector continues to suffer from a high-cost base whilst the shift in sales from the high street to the internet…
Read moreThere has been an 11% drop in the number of job vacancies in the UK’s restaurant sector over the last six months, according to research by Moore Stephens which suggests companies are cutting staff to save on costs. The research indicates that the number of vacancies fell to 32,900 in April 2018, from 36,900 in…
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The total value of adverse county court judgments (CCJs) recorded in England and Wales rose sharply during the first quarter of the year, according to figures released today by Registry Trust. Rising seven percent compared to Q1 2017, this bucked a four-year trend where the number of CCJs issued had fallen year-on-year. However, an unusual…
Read moreIn the latest report into the collapse of Carillion, the Work and Pensions and Beis committees called Carillion’s rise and fall “a story of recklessness, hubris and greed” Responding to the publication of the Business, Energy and Industrial Strategy and Work and Pensions Committees’ full report on Carillion, Federation of Small Businesses (FSB) National Chairman…
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Ahead of the launch of the final report of their inquiry into the collapse of Carillion this week, the Work and Pensions and BEIS Committees has published evidence from Santander, the bank which operated Carillion’s Early Payment Facility. The report has found that despite being signatories of the Prompt Payment Code, Carillion were “notorious late…
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Business credit check specialist Cocredo has announced that it has launched Dual Report a new company reporting service. Cocredo’s research has found that a growing number of people use multiple reports when credit checking companies to gain a wider understanding of a business. However, it can become very costly and time-consuming logging into different systems and comparing credit reports that…
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Research from the Federation of Small Businesses (FSB) has highlighted poor payment practices epidemic running through public sector supply chains putting many small firms at risk FSB’s new data, which is part of wider forthcoming research into how the UK can better use supply chains, shows that nine out of ten (89%) public sector suppliers have been paid late. This…
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New research from insolvency firm, Begbies Traynor has revealed that nearly 43,000 retailers ended the period in a state of ‘Significant’ financial distress. According to Begbies Traynor’s Red Flag Alert research for Q1 2018, which monitors the financial health of UK companies, 42,958 retailers were experiencing ‘Significant’ financial distress at the end of March 2018, up 21%…
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