Credit, Collections & Insolvency News
More small businesses expect to downsize or close than grow over the next 12 months, according to a survey by the Federation of Small Businesses (FSB). In the first quarter of the year nearly half of small businesses (48 per cent) expected to grow over the coming year, while only around one in six (18…
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Four in ten (39%) senior financial professionals working in the UK say the country’s dominance in financial services has weakened in recent years, according to research by CRIF. As a result, nearly half (44%) say they no longer consider the country a global leader in financial services, with the top reasons behind this including Brexit’s…
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Latest ONS data has shown that GDP unexpectedly fell by 0.1 per cent in May, marking a second consecutive monthly decline. This follows April’s decline of 0.3 per cent and underscores the challenge the Government’s faces in terms of the overall economy. Manufacturing, retail, and energy sectors saw notable drops, including weaker car production and…
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The British Beer and Pub Association (BBPA) has warned that one pub will close every day this year, with a projected 378 closures across England, Wales, and Scotland. The industry body, which represents more than 20,000 pubs, estimated that the pub closures would amount to more than 5,600 direct job losses. The BBPA says that…
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Business confidence in the UK has fallen to its lowest level in three years according to ICAEW’s Business Confidence Monitor. Tax worries, weakening economic conditions and growing global volatility pulled UK business confidence deeper into negative territory in Quarter 2. The research put confidence at -4.2 on the index, its weakest reading since Q4…
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Around one in five SMEs believe it will become more difficult to pay tax bills in the year ahead as business tax rises come into effect, new research from Premium Credit shows. The study by the leading provider of finance for businesses found worries about paying tax bills are a long-standing issue for SMEs but…
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The percentage of UK small businesses predicting growth has fallen for the fourth consecutive quarter, plummeting to the low levels seen during the lockdown era of 2020, according to new research from Novuna Business Finance. A year on from the Labour Government taking office, the immediate ‘Election Bounce’ in small business confidence (35%) has fallen…
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The overuse of personal guarantees in borrowing is hindering UK business growth, according to a survey by the Federation of Small Businesses (FSB). Research by the business group shows that six in ten (60%) limited company directors would borrow to grow their business, if they did not have to put hard-earned assets like savings or…
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A new Dun & Bradstreet report has highlighted the lowest level of business optimism for the upcoming quarter since late 2023. Following a 12.9% drop in optimism for Q1 and a modest 1.3% drop for Q2, the Global Business Optimism Index declined another 6.5% amid continued macroeconomic uncertainty and mounting supply chain concerns around the world. The…
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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 The data also showed that 36% of business owners have never owned a business credit card, and 54% of consumers said they actively avoid using credit cards. For business…
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Latest data from Purbeck Insurance Services has found SME loans for working capital fell 24% in Quarter 1 (Q1) 2025. The number of SMEs needing finance to keep their business on an even keel has not been this low since Q3 2024, based on Purbeck’s data. In contrast, refinancing deals grew dramatically year on year…
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Deloitte’s latest survey of Chief Financial Officers (CFOs) reveals that finance leaders view the UK as the most attractive destination for investment, alongside India, with 13% describing it as very or somewhat attractive. Richard Houston, Senior Partner and Chief Executive of Deloitte UK, said “These results reveal a shift in sentiment with the UK now…
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Total like-for-like retail sales in discretionary categories (fashion, homewares and lifestyle) remained below inflation in June, compared to a positive base of +3.2% in June 2024, according to the latest High Street Sales Tracker from accountancy and business advisory firm BDO. The disappointing performance was driven largely by low sales growth in stores, at just +0.6% compared…
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