Credit, Collections & Insolvency News
New data from Millbrook Business Finance has found that four in ten (35%) said access to affordable finance is one of their biggest challenges. The survey data asked SMEs what the single biggest challenge facing their business right now, with 14% highlighting rising operational costs, whilst 14% noted economic uncertainty, and 13% cited late payments. A…
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New analysis by the British Retail Consortium (BRC) shows that 400 large-format stores are at risk of closure, if they are included in the Government’s new business rates surtax on premises with a rateable value over £500,000. The retail industry accounts for 5% of the economy yet pays over 20% of all business rates bills.…
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Latest ONS data has shown that GDP showed no growth in July 2025, following growth of 0.4% in June Real GDP grew by 0.2% in the three months to July 2025 compared with the three months to April 2025, down from three-month-on-three-month growths of 0.3% in June 2025 and 0.6% in May 2025. Services output…
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New research by Capital on Tap has found that 46% of business owners don’t have a business credit card, with 54% of consumers actively avoiding them For business owners, cash flow management is the main purpose of a credit card, with 80% highlighting this as their reason for use. Employee-related expenses such as payroll and…
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The UK government may be celebrating favourable tariffs with the USA and new trade deals with countries outside the EU, but the vast majority of UK small businesses are now focused on the domestic British market to secure growth over the next 12-months, according to new research from Novuna Business Finance. The nationally representative survey…
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The UK economy is expected to grow by 1.3% in 2025, revised up from the previous forecast of 1.1% according to the British Chambers of Commerce (BCC). The BCC says that the upgrade reflects better-than-expected economic performance in Q1, supported by public spending. However, GDP is expected to slow slightly in 2026 to 1.2%, before…
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Purbeck Insurance Services has reported a significant rise in the number and value of personal guarantee backed loans secured by young businesses. In Q2 2025, 16% of small business loans supported through Purbeck’s Personal Guarantee Insurance (PGI) were for businesses under two years old. This marks a sharp increase from 9% in Q1 2025 and just 6% in Q2 2024,…
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Latest data from Allica Bank has revealed that 48.5% of brokers have seen an increase in applications over the past six months. That’s up from 40% in Q4 2024, and comes despite a period marred by global uncertainty, trade tensions, high costs, and the introduction of higher employer National Insurance contributions. Only 20.3% of brokers…
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The IoD Directors’ Economic Confidence Index, which measures business leaders’ optimism in prospects for the UK economy, rose to -61 in August 2025 from -72 in July. The August reading of the Index takes us back to the sort of levels seen immediately after last year’s Budget, having dropped to its worst reading on record…
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Business confidence has risen two points to 54%, according to the latest Lloyds Business Barometer. The August reading marked the fourth consecutive monthly increase. Economic optimism edged down for the first time since April, with a fall of three points to 44%, but it remains above the long-term average of 19%. The increase was driven…
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The Trades Union Congress (TUC) has reported that over half of adults fear artificial intelligence (AI) may threaten their jobs. A recent survey revealed that 51% of working adults are anxious about AI’s impact, with concerns peaking among younger workers aged 25 to 34, where 62% expressed worry. The union body says AI technologies can…
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Business confidence in the UK’s services sector has significantly declined in the quarter to August, albeit at a somewhat slower pace, according to the latest CBI survey. Companies are facing profit squeezes due to rising costs and falling sales, leading to reduced hiring and investment. With average selling prices rising at a much slower pace…
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The Night Time Industries Association (NTIA) has reported that over 800 late-night venues have closed since 2020, marking a 26.4% decline in the sector leaving just 2,424 late night venues still operating. According to the research, compiled by the NTIA and CGA by NIQ, losses have stepped up over the past three months with three…
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