Credit, Collections & Insolvency News
Latest research by Purbeck Personal Guarantee Insurance has revealed that 78% of small businesses are currently turning a profit. While one in five (19%) are breaking-even and 44% are in the black by a small margin, over a third (34%) said they are making a good profit. just 3% are loss-making and 1% close to…
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Almost two fifths of small businesses in the hospitality sector are predicting growth in the next three months (38%), more than twice the proportion compared with last quarter and on a par with the figure 12 months ago (40%), according to new findings from Novuna Business Finance’s Business Barometer. The positive news continues when looking…
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Businesses are spending over 71 days per year – more than a quarter of the working year chasing late payments, according to the annual European Payment Report from credit management services provider Intrum. The 26th edition of Intrum’s report surveyed more than 10,000 companies across 29 European countries, shedding light on the challenges that businesses…
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Research by iwoca has found that recession fears are receding with small business loan application figures rising. The company says there are signs of confidence returning to the UK’s 5.5m small and medium-sized businesses and the lending market they rely on. The new research, carried out with over one hundred SME finance brokers who collectively…
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The arrival of Spring sees a significant rise in the percentage of established small businesses (those with a turnover of £1-10 million) predicting growth for the next three months – rising from 33% to 50% since the start of the year. Conversely, there has been a sharp decline in the percentage of start-up enterprises predicting…
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A Freedom of Information request to the British Business Bank by Purbeck Personal Guarantee Insurance has revealed the current level of debt and arrears associated with the Bounce Back Loan Scheme (BBLS). The Coronavirus Business Interruption Loan Scheme (CBILS) and the Recovery Loan Scheme (RLS). Purbeck’s analysis shows that over 145,000 BBL loans worth £3.8 billion…
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Latest data from the Federation of Small Businesses (FSB) has found that business confidence has recovered strongly in the first quarter of 2023, with FSB’s Small Business Index (SBI) headline confidence measure bouncing back significantly from the depths of lockdown-equivalent levels back up to lightly negative territory at -2.8 points. This is a significant upturn…
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UK-listed companies issued 75 profit warnings between January and March 2023, the highest first-quarter total since the early stages of the pandemic in 2020, according to EY-Parthenon’s latest Profit Warnings report. The report reveals that the number of warnings issued in the first quarter of 2023 exceeded the 72 issued in Q1 2022 and that…
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Latest data from Time Finance has what it calls uncovered the true impact of late payments for SMEs with 75% of UK businesses worrying about cashflow as a direct result of overdue invoices from their customers. In a recent survey into the worsening challenge of late payments, Time Finance found that chasing payments was damaging…
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UK faces a liquidity gap of £570 million according to predictions by Allianz Trade. The research says that the recent banking crisis has drawn into sharp focus other weak spots within the global economy and concentrated minds of businesses leaders to protect themselves against further contagion. But with forecasts predicting that the $30trn global liquidity…
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A new report from accountants at Mazars has found that the top 20 building merchants are increasingly turning to winding up petitions against contractors who fail to pay on time. Builders merchants have applied for winding up petitions against 185 constructors compared with just 44 in the previous year to the end of January 2023,…
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The British Chambers of Commerce (BCC) Quarterly Economic Survey (QES) for Q1 2023 shows that while business confidence has improved from a very weak base, most firms see no improvement to business conditions. The survey of over 5,200 firms – 92% of whom are SMEs – reveals a sectoral division in business performance, with hospitality…
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New research published by Bibby Financial Services (BFS) has revealed the extent to which the UK’s small and medium sized enterprises (SMEs) are exposed to substantial debt stress with the average bad debt amongst UK SMEs jumping by 61 percent. The average level of debt has risen from £10,329 in Spring 2022, to £16,641. Currently,…
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