Credit, Collections & Insolvency News
Responding to Queen’s Speech in Parliament, the Federation of Small Businesses (FSB) is calling on the Government to take urgent action to end ‘debilitating late payment crisis’. Federation of Small Businesses National Chairman Mike Cherry said “The success of mu”ch-needed levelling-up initiatives will hinge on their ability to reach the 5.9 small businesses and sole…
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Atradius’ latest Insolvency Forecast reports Polish insolvencies are expected to grow by 7% this year after remaining static in 2020. As a response to the pandemic, comprehensive stimulus measures supported many Polish businesses, enabling them to sustain their cash position. However, this support is expected to expire this year as the economic rebound gains momentum.…
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UK companies are expected to borrow a net £19 billion this year, far less than the £26 billionn initially forecast by experts in February as the economy rebounds quicker than anticipated and the demand for loans to support cashflow reduces, according to the latest EY ITEM Club Interim Bank Lending Forecast. UK GDP is now…
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Cybercrime and online fraud have risen sharply over the past year, with criminals exploiting the Covid-19 pandemic. Research by BAE Systems showed that three quarters of financial services firms have experienced an increase in digital crime since the pandemic began in March 2020, including coronavirus-related fraud and phishing or ransomware attacks. The research indicates that…
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As SMEs prepare for the next easing of lockdown restrictions, business owners across the country are still looking to the government for further support. However new research from Nucleus Commercial Finance today reveals business owners are lacking awareness and understanding of the Government support schemes on offer. The research of SME leaders found nearly one…
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A new trading report into the Turkish market has revealed an expected decline in insolvencies this year. The report by trade credit insurer Atradius has revealed that the economic impact of the Covid-19 pandemic had upon the country which managed to avoid recession in 2020. Turkish GDP grew 1.8% in 2020 despite the adverse conditions of…
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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 by 15% in March 2021 compared with the same month in 2020. In Q1 2021, new business grew by 1% compared with Q1 2020. The commercial vehicle finance sector reported new business…
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SMEs are set to invest an average of £150,000 in the business as post lockdown optimism grows according to new research by Bibby Financial Services (BFS). The Government’s plans to ease lockdown restrictions have seen a surge in optimism from SMEs, according to the latest business funders’ Covid-19 Pulse survey. The research found that three…
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In April the following administration notices have been issued and advertised in the London Gazette for the following companies: AS REALISATIONS 2021 LTD BETINDEX LTD BLACKFRIARS LTD BLACKPOOL CENTRAL HOTEL LTD BROOKS BROTHERS UK LTD BROWN MECHANICAL SERVICES LTD BUSINESS LOAN NETWORK LTD BV9 LTD C.F. LABELS LTD. CBS BUSINESS FURNITURE LTD COMPLETE ENGINEERING GROUP…
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Creditors Voluntary Winding-Up – Appointment of Liquidators notices have been issued in the London Gazette for the following companies in April: 11:11 MEDIA LTD 19TEN LTD 29TEN FITNESS LTD 312 SW3 LTD 360COMPUTING LTD 3MILES LTD 6CATS UK LTD. A LISTER TRANSPORT 80 LTD A ONE PRO STYLE LTD A SLIM LTD A W LEWIS…
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In April, Winding Up Petitions (Companies) have been issued and advertised in the London Gazette for the following companies: ACCUTOR LTD ALL2020 LTD ASSEGAI DESIGN AND BUILD LTD BERRY BROW CONVENIENCE STORE LTD BOHEMIA WORLD TRADING LTD CITYWIDE ELECTRICAL SERVICES LTD COUNTER SOLUTIONS U.K. LTD DWHA LTD EESA &CO LTD EUROPA CLUB LTD FORD NEWS…
Read moreOver half (54%) of SME businesses need cash to survive with over half are banking on the Recovery Loan Scheme according to new research by Purbeck Personal Guarantee Insurance. The survey of 1000 SME business owners and directors has found that over half will seek new finance in 2021. 54% of these businesses plan to…
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Ahead of submitting its formal evidence, UKHospitality has written to the Government urging it to adopt its proposals to help tackle the £2.5 billion rent debt crisis that threatens to wreck the hospitality sector’s recovery and risks further widespread job losses. For more than a year, the trade association has been highlighting the existential threat…
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