Credit, Collections & Insolvency News
A survey of lenders by the Bank of England shows that the number of small businesses falling behind on their loan repayments rose in the three months to the end of November. The analysis shows that fewer medium-sized businesses defaulted on corporate debt repayments in the period, while the number of large companies defaulting remained…
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New figures released by the Finance & Leasing Association (FLA) show that total asset finance new business (primarily leasing and hire purchase) grew in November 2021 by 5% compared with the same month in 2020. In the eleven months to November 2021, new business was 16% higher than in the same period in 2020. The…
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As Blue Monday approaches on 17th January 2022, a new survey of the employees of the UK’s small businesses by Purbeck Personal Guarantee Insurance has found that 25% feel more stressed and anxious than prior to the pandemic, 18% feel isolated, 18% are not sleeping well and 16% feel more depressed. More people (20%) feel worried…
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Brexit combined with the coronavirus pandemic has created a double-edged sword for businesses with its full-scale impact yet to be realised with Economists from Atradius predicting that insolvencies will rise by 33%. As the UK marks its first anniversary of the Brexit withdrawal, Atradius reports that the true ramifications of Brexit have been overshadowed by…
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A Deloitte survey of CFOs found persistent labour shortages, the pandemic, climate change and higher inflation were seen as the leading risks to their businesses in the year ahead. However, some 37% said that increasing capital expenditure was a priority for 2022. This is the highest figure recorded by Deloitte since it first asked the…
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Losses at the country’s largest restaurant groups rose by 174% to £673m in the year to September, according to analysis by UHY Hacker Young. The lockdown and social distancing rules meant that the restaurant sector was one of the hardest hit by the pandemic. Lost sales cost the hospitality sector around £200 million a day…
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Business optimism and output growth across the UK fell in December, reflecting a cooling in economic activity as firms grapple with the effects of the Omicron COVID-19 variant, according to the latest Business Trends report from accountancy and business advisory firm BDO, The BDO Optimism Index slipped by 0.46 points to 103.81, driven largely by the…
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The Office of the Small Business Commissioner (OSBC) has welcomed the clarity provided by a report from the Federation of Small Businesses (FSB) on payment problems faced by small businesses.The OSBC says that the current economic situation is causing increasingly difficult challenges for small businesses. Many are having to choose between paying their bills, in order…
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The Federation of Small Businesses (FSB) is warning that a worsening of the UK’s late payment crisis, high inflation and mounting admin for firms that trade internationally will cause the business community to further shrink in size if left unaddressed, as it releases fresh findings from its quarterly Small Business Index (SBI). The new study…
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Credit risk in the automotive industry is set to deteriorate with an increase in payment delays and insolvencies according to new research by trade credit insurer Atradius. The report reveals several challenges facing the industry which stem from supply issues, decreased consumer demand and rising costs. Combined, these have led to the insurance company rating…
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Businesses are reporting that they are losing £8 for every £100 billed in the last year due to the non-payment of invoices, according to the research by trade credit insurer Atradius. The research barometer reveals nearly half (44%) of the total value of UK B2B sales were reported overdue this year and a further 8%…
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Latest figures from the Insolvency Service has shown that the number of businesses in England and Wales that business insolvencies rose by 18.7% in November 2021 to a total of 1,674 compared to October 2021’s total of 1,410, and increased by 87.9% compared to November 2020’s figure of 891. For the first time since the start…
Read moreA study by insurance provider Simply Business has predicted that one in five small businesses will not survive 2022 unless their Christmas sales are strong. It was also found that 27% of SME staff are “not confident” about their trading fortunes, while one in ten expects to fare worse this month than they did last…
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