Credit, Collections & Insolvency News
Two thousand of the nation’s pubs are facing last orders, the British Beer and Pub Association (BBPA) has warned as it calls on the Government to extend a lifeline to the sector. The British Beer and Pub Association (BBPA) is calling on the Government to use the Spring Budget to show it understands just how…
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Analysis by Lloyds shows that optimism among businesses in London dipped in February, with uncertainty over whether the economy will fall into recession having an impact on confidence. Optimism among the capital’s companies has dipped 19 points to 18%, according to the bank’s business barometer, with this coming in slightly lower than the 21% national…
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Almost two-thirds (65%) of UK retail business owners report that the rising cost of living has made running their business harder, with nine out of ten (87%) of those businesses saying it has been the “toughest winter in memory” for their business according to a new poll by Santander. The data revealed the biggest challenges…
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Although the outlook for consumer inflation and interest rates is stabilising, industrial inflation could remain in double digits until the end of 2023, according to new projections from EY-Parthenon. EY-Parthenon’s latest research finds that, although consumer price index (CPI) inflation could fall to around 4% by the end of 2023, producer price index (PPI) inflation…
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The Institute of Directors’ (IoD) Economic Confidence Index, which measures business leader optimism in prospects for the UK economy, rose to -17 in February 2023, up from -28 the previous month and a near-record low of -64 in November. Confidence in the UK economy is now similar to the time of the Omicron restrictions in…
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Data from small business accounting platform Xero has indicated that late payment days are worsening. The research found that the average time it takes to get paid rose by 0.6, to 30.5 days in January, the longest payment time recorded since September 2020. In January, payments to UK small businesses were also late by an…
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For the first time in six months, all 14 sectors monitored by the Lloyds Bank UK Sector Tracker reported that they expected their output to grow over the next year, up from 13 in December. According to the Tracker, improved optimism was driven by expectations of weaker inflation over the next 12 months. The number…
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Analysis from credit score company Experian has found a third of small businesses might not be able to cover their costs when energy bill support is slashed by the Government in April. Experian analysed the finances of 1.16 million small businesses and forecasts that 30% of these will become ‘at heightened risk’ – meaning they…
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Latest Office for National Statistics (ONS) data has shown that price rises in the UK slowed for a third month in a row as inflation fell to 10.1% in the year to January from 10.5% in December. The drop was largely due to the price of fuel and cost of restaurants and hotels slowing. This…
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Businesses remain pessimistic about the outlook for the economy, with BDO’s optimism index stuck in negative territory for a fourth consecutive month according to latest research from accountancy and business advisory firm BDO. Global and domestic supply chain pressures outrank access to labour, rising interest rates and mounting costs as the top concern facing over…
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Latest Office for National Statistics (ONS) figures that showed monthly GDP fell by 0.5% in December 2022, leading to an overall estimate of a flat economy in the final quarter of the year. Whilst the Bank of England is predicted we’re still heading for a recession later this year, but it will be shorter and…
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The National Institute of Economic and Social Research (Niesr) has predicted that the UK is likely to avoid a recession this year. Niesr says that the UK will likely avoid a protracted recession in 2023, but GDP growth is set to remain close to zero. However, with the cost-of-living crisis having a lasting effect on…
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The biggest threat to British businesses over the next six months is disruption to supplies, according to a survey by BDO with 54% of mid-sized companies saying that chaos in supply chains was the biggest challenge they faced. The bi-monthly survey – which looks at the challenges and opportunities facing mid-sized businesses – reveals the…
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