Businesses predict strong festive trading period as payments volumes rise

British SMEs are starting to feel more confident about the performance and resilience of their own businesses, despite challenges in the wider economy, according to the latest quarterly Barclaycard Payments SME Barometer. Over half (54 per cent) of UK SMEs are expecting revenues to increase in Q4, compared with performance in Q3 2021. Yet concerns…

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HMRC intensifies efforts to claw back fraudulent pandemic payouts

HMRC has ramped up efforts to recoup £1 billion from fraudulent or incorrect furlough pay-outs, with more than 26,500 investigations into potentially fraudulent pandemic support claims launched over the past eight months. The level of fraud and error in the benefit system almost doubled during the pandemic from what was already the highest rate since…

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Three out of four corporates and large SMEs looking to strengthen cash reserves

16th November 2021 Commercial Credit Management |

New Investec research has shown that nearly three out of four (73%) corporates and large SMEs are looking to strengthen cash reserves as part of the long-term switch in risk management, so they are in better shape for any future crisis. The change in policy and planning builds on experience during the Coronavirus crisis which…

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Six out of ten businesses rely on credit to buy insurance

16th November 2021 Commercial Credit Management |

New research by finance company, Premium Credit has revealed that 59% of SMEs are relying on credit to pay for their insurance, borrowing on average around £1,832. Some 16% of SMEs claim to be using over £3,000 of credit a year to buy their cover. Premium Credit’s Insurance Index, which monitors insurance buying and how…

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Danske Bank reprimanded over Bounce Back loans

15th November 2021 Business Lending | #business lending

Danske Bank has been reprimanded by the Competition and Markets Authority (CMA) over the treatment of some small businesses applying for Coronavirus Bounce Back loans, having required up to 205 firms to open business accounts to access a loan. The CMA said this meant the firms faced new fees, warning that the practice restricts customer…

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Late payments by retailers at highest-recorded levels

Late payments by UK retailers are at the highest-recorded levels, according to research by Sidetrade. The analysis found that almost a quarter (23%) of UK retail company invoices were deemed overdue in October. The research revealed that the proportion of invoices left unpaid* by UK retail companies in October 2021 hit an all-time high since…

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SMEs urged to talk about money

New research from GoCardless, has revealed a quarter (25%) of British small business owners feel uncomfortable talking to their customers and suppliers about money in a business context, rising to 32% for women. Almost four in ten (38%) SME decision-makers say they feel awkward chasing customers for late payments and one in ten (10%) believe…

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High energy costs predicted to increase construction business failures

10th November 2021 Business | #business insolvencies

New research from CompanyDebt has predicted an incoming wave of business failures among the UK’s construction sector. The report says that supply and demand in the global energy market have pushed prices to a record high this month in what industry pundits are called a ‘perfect storm.’ Energy prices are now over 250% higher than…

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INSOLVENCY NOTICES: Appointment of Administrators – October 2021

10th November 2021 Business |

In October the following administration notices have been issued and advertised in the London Gazette for the following companies: ACCENTHANSEN LTD ACHIEVEMENT FOR ALL (3AS) LTD AE AEROSPACE LTD AVPE DURHAM LTD AVRO ENERGY LTD BARLOW’S (PROPERTIES) LTD BBS GRANITE CONCEPTS LTD BISHOPSGATE CONTRACTING SOLUTIONS LTD BLUE MARBLE HOLDINGS LTD CAPITAL DATA MANAGEMENT LTD CAPITAL…

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LIQUIDATION NOTICES: Creditors Voluntary Winding-Up – October 2021

10th November 2021 Business |

Creditors Voluntary Winding-Up – Appointment of Liquidators notices have been issued in the London Gazette for the following companies in October: (JAS) THE HOUR GLASS LTD 102 COUTURE LTD 1A AUTOSCREENS LTD 1ST CHOICE SKIP & GRAB HIRE LTD 2020 LEISURE LTD 247 GT LTD 29 PRODUCTS LTD 2PLAY INC LTD 360PIC LTD 4.T.W.C. LTD…

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INSOLVENCY NOTICES: Winding Up Petitions – October 2021

In October Winding Up Petitions (Companies) have been issued and advertised in the London Gazette for the following companies: ALBION CONSULTANTS UK LTD ALE PILING LTD ANCESTORS OF DOVER LTD ASHTON WOOD LTD BARNSTAPLE ESTATE PROPERTIES LTD BRYANT HOUSE LTD BUILD MODULAR LTD CFL FINANCE LTD CHAPPELL CREST LTD COOKSON DEVELOPMENTS LTD DRAGON FIRE SYSTEMS…

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Jump in creditors using court action to recover debts sparks insolvency surge fears

9th November 2021 Business | #business insolvencies

A jump in creditors using court action to recover debts has sparked fears of a surge in insolvencies, with the 21,764 county court judgments lodged against companies in the three months to the end of September marking a 51% increase on the previous quarter. The latest red flag research for Q3 2021 from Begbies Traynor,…

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Government announces new laws to resolve remaining pandemic commercial rent debts

The Government has announced new laws and a Code of Practice to resolve the remaining commercial rent debts accrued because of the pandemic, Under the new code, commercial tenants will be protected from eviction until 25th March 2022, this follows government action last year to provide firms with breathing space and help protect jobs when…

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