Credit, Collections & Insolvency News
The cyber security risk to UK organisations continues to increase in both severity and impact, but nearly one in five (17%) admit they don’t prepare or drill for cyber attacks, and fewer than half (49%) conduct penetration tests to examine their defences according to a new report by PWC. PwC’s Global State of Information Security Survey…
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Credit management software suppliers, OnGuard and Credit Tools have they announced that they have completed their merger. The companyies have announced that the new company will be calledOnguard. In addition to a cosmetic change, the newly created company will create a software platform in which customers can resolve all issues which arise within the order to cash chain.…
Read moreNearly half (44%) of SMEs have never checked their company’s credit score, according to research from RateSetter Business Finance. Credit scores are used by lenders to determine whether businesses have a good track record of repaying debt, and are therefore one of the key factors affecting an SME’s ability to get a loan. Credit reference…
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New Government figures show that less than half of eligible English councils have begun allocating their share of the £300 million business rates hardship fund launched six months ago. Sixteen English councils have not implemented any of the three business rates relief measures announced by the Chancellor at the Spring Budget. The area worst affected…
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An OECD report has concluded the UK’s insolvency and restructuring framework is the most effective in the organisation at preventing a build-up of productivity-sapping zombie companies, says UK insolvency and restructuring trade body R3. The report, ‘Insolvency regimes, zombie firms and capital reallocation’, says that zombie companies – struggling companies aged 10 years or older…
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Debt owed to suppliers across key UK business sectors has risen by 95.4% to £962 million between July and September 2017, eclipsing the 1.5% rise seen at the end of Q2. Bad debt owed to companies also increased by 12.2% to £247million, up 55.6% since the start of the year. This signals a worrying trend…
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The next two years will bring significant challenges to UK businesses, many of which may succumb to insolvency as a result. ICAEW conducted a survey of those working with the insolvency and business restructuring sectors* and asked what they felt would be the three greatest threats to British businesses over the next two years, the…
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55% of UK small businesses are still not familiar with the General Data Protection Regulation (GDPR) despite its introduction being now less than a year away, according to a new business research by Collyer Bristow. The survey further reveals that the knowledge of GDPR is higher in larger businesses. However, 30% of executives at companies…
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Liquidation notices have been issued and advertised in the London Gazette for the following companies: 07715030 LTD 1ST CALL AUTO SOLUTIONS LTD 2 AM CREATIVE LTD 21 TOMBLAND LTD 2EON LTD A M COURIERS (NW) LTD A R A (2014) LTD A RUSHTON JOINERY LTD A.E.CROSS LTD ABOARD LTD ACE MOULDING SERVICES LTD ACTIVE PROPERTY SOLUTIONS…
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Winding up Petitions (Companies) have been issued and advertised in the London Gazette for the following companies: 12 PROPERTY RENTALS LTD 19 RM LTD 19/9 194F LTD 1ST BASE PROPERTIES LTD 20/20 BEEF LTD A & I CHILDCARE LTD A & M LONDON DEVELOPMENTS LTD A J CONTRACTS (WHITSTABLE) CONSTRUCTION LTD A STAR DRIVERS LTD…
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New research has found that 65% of businesses embrace fintech. Business finance company MarketInvoice surveyed UK businesses on their awareness and adoption of fintech (financial technology) products and services. 77% of UK businesses are aware of fintech products and services and two-thirds (65%) have adopted at least one fintech application, with a fifth (19%) taking…
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Businesses trading in the Americas have been warned about potential payment delays in a new report by trade credit insurer Atradius. The Atradius Payment Practices Barometer is an annual research report into the payment behaviours of global businesses and was prepared ahead of the recent natural disasters that have severely impacted parts of the region.…
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Bottomline Technologies has become a Corporate Partner of the Chartered Institute of Credit Management (CICM). Bottomline Technologies help businesses pay and get paid. The technology and software company has a strong focus on business payments, Direct Debit and cash management, and document automation. Philip King, CICM Chief Executive, is happy to welcome the company as…
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