Credit, Collections & Insolvency News
Latest data from the Office of National Statistics (ONS) has showed the annual rate of CPI inflation remained flat at 8.7% in May 2023, with core inflation rising from 6.8% to 7.1%, There is no a fear that the rise in core inflation could spook the markets with core inflation (stripping out energy, food, alcohol…
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Equity finance provision for SMEs fell sharply in the second half of 2022, according to the British Business Bank (BBB). The BBB said 2022 was a tale of ‘two halves’ with a record level of investment in businesses in the first two quarters followed by a decline driven by concerns about potential overvaluations and a…
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Latest data from UK Finance has indicated that in the first quarter lenders saw a rebound in applications for both loans and overdrafts, with banks reporting quarter-on-quarter growth of 20% and 11% respectively with the increases may indicating that SME demand for finance is turning a corner. The weak levels of demand for finance from…
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New anaylsis by EY Item Club has found that the construction Purchasing Managers’ Index (PMI) rose to a three-month high in May. With the services index also pointing to robust growth, it’s looking more likely now that the economy will manage to expand in Q2, despite the drag on activity from the extra public holiday…
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Just under half (45%) of small businesses say economic uncertainty is holding their business back, with the figure is up from 36% a year ago according to research by Novuna Business Finance With the percentage of small businesses predicting growth remaining static at around 33% for the third consecutive quarter. Overall, eight in ten small…
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Nearly two thirds (63%) of mid-sized businesses expect economy to improve over next six months according to RSM UK’s latest Middle Market Business Index (MMBI) The research found that over two thirds of businesses (69%) expect turnover to improve in the second half of 2023, the highest proportion since the pandemic, while 67% expect profits…
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Continued supply chain pressures, including cost increases, delayed materials and shortages outrank workforce challenges and increasing business costs as a main concern for over a third (36%) of mid-sized businesses, according to latest research from accountancy and business advisory firm BDO. The bi-monthly survey – which looks at the challenges and opportunities facing mid-sized businesses…
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Sentiment among British businesses declined in May, with firms concerned over the economy and their trading prospects. Lloyds Bank’s Business Barometer fell to 28% in May from 33% in April, marking the first decline in three months, while optimism over the economy fell by six points to 22%. Confidence levels remain in line with the…
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The Institute of Directors (IoD) Directors’ Economic Confidence Index, which measures business leader optimism in prospects for the UK economy, stabilised at -6 in May 2023, little changed from the previous month’s value of -5 and ending a five-month climb from a low of -64 in November 2022. The current reading is a broadly neutral-to-negative…
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New industry-wide data shows just 29% of hospitality businesses feel optimistic about the next 12 months, with energy their biggest concern, prompting an alliance of trade bodies to once again make a plea for Government to direct energy suppliers to offer fair rates. The survey asked people running pubs, bars, restaurants and other hospitality businesses…
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New research by Allianz Trade has found that 43% of exporters are expecting an increase in the risk of non-payment in 2023 (up from 27% last year). Globally, roughly 70% of companies expect business turnover generated through exports to increase year-on-year, down from 80% in the 2022 edition. In the UK, 83% of exporters expect…
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New research by the Business Debtline has revealed the impact of the cost of living crisis on struggling small business owners, with a majority of callers to the free debt advice survey going without essentials and worrying about meeting their commitments – and a third turning to credit to help cover essential household bills. The…
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Energy suppliers are set to file a record number of winding-up petitions against businesses as companies struggle with soaring energy costs according to new research by Harcus Parker. Court filings show that there have been more than 400 attempts by suppliers to shut down companies to reclaim their energy debts over the past decade. The…
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