Credit, Collections & Insolvency News
Outstanding bank lending to small businesses in the hospitality sector has fallen by more than £1.4 billion since the end of the Coronavirus Business Interruption Loan Scheme (CBILS) and Bounce Back Loan Scheme (BBLS). Overall Bank lending dropped to £14.6bn in April 2022, down from £16.08bn in March 2021, according to analysis by Hazlewoods. There…
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High inflation is causing real pay packets to shrink at their fastest rate in a decade, while the slowdown in growth may be causing the tight labour market to cool as unemployment ticks up, the Resolution Foundation said today (Tuesday) in response to the latest ONS labour market statistics. With CPI inflation hitting a 40-year…
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Data from PwC show the number of UK firms filing for insolvency in the first quarter was broadly similar to the same period in 2021. However, the analysts show that when the smallest firms and companies that were liquidated when solvent are stripped out, the figures show those filing while insolvent more than doubled in…
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UK Finance’s latest Business Finance Review has indicated a gradual return to normal lending trends across SMEs during the first quarter of 2022. The research found a modest uptick in demand for cashflow finance through overdrafts and invoice finance and asset-based lending – as a consequence of both the end of Covid-19 restrictions and the significant…
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New research from Aldermore has found that over half (54% or 2.1 million) of all UK small and medium-sized enterprises (SMEs) have been impacted by the ongoing supply chain crisis in the last 12 months. Persistent supply chain problems have continued to plague businesses, as a result of a number of factors including labour shortages,…
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Businesses in Northern Ireland had more than 93,000 overdue invoices on their books in April according to new research by R3. The report found that while the north recorded strong start-up numbers in 2022, there are signs of trouble ahead. Analysis of the data from business intelligence provider Creditsafe, show almost 3,000 new businesses were…
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Seven in ten small businesses (70%) that predict significant growth in the next three-month say they will have to put plans on hold if they were unable to secure finance. Access to finance and borrowing is also urgently needed by small businesses most affected by COVID – those that either had to close or repurpose…
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Supply chain issues, rising energy costs or record levels of inflation are three of the biggest threats facing more than half (58%) of businesses in the next six months, according to new research by accountancy and business advisory firm, BDO. The bi-monthly survey of 500 leaders of medium-sized businesses reveals almost a fifth (18%) of…
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The May 2022 Directors’ Economic Confidence Index, which measures business leader optimism in prospects for the UK economy, slid to its lowest level since October 2020 of -45, down from -36 in April. Of those that said they were pessimistic about the prospects for the UK economy, the overwhelmingly most frequent reason given for this…
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Businesses are paying their suppliers even later, despite admitting that they have a responsibility to smaller firms, according to early findings from Intrum’s 2022 European Payment Report. The annual report by credit management services company Intrum surveyed more than 11,000 businesses in 29 countries. It found the business landscape under pressure from new uncertainty, while…
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Businesses are increasingly confident that they can use high inflation to rebuild their margins, the monthly barometer by Lloyds Bank has found. Confidence among firms has risen by five points on the index to reach 38%, significantly higher than the long-term average of 28%. This marks the first increase since Russia launched its invasion of…
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Three-quarters of SMEs are worried about the long-term impact the cost of living crisis, soaring energy bills and rising inflation. Barclays’ SME Barometer, a quarterly survey of business sentiment, saw 51% say they were concerned that surging prices would dent consumer spending, while more than a quarter said they feared that having to increase their…
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According to a global survey by PwC, fraudsters have targeted two-thirds of British companies in the past two years, with cyberattacks the most common crime. In Britain, 64% of big corporations had been affected by fraud and other economic crimes over the period, 10% up on two years ago and significantly above the global average,…
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