Credit, Collections & Insolvency News
Restaurant insolvencies increases by a fifth to reach highest levels since pandemic began according to new research by UHY Hacker Young. The data shows that restaurant insolvencies rose to 354 in the last quarter of 2021, up from 296 in the previous three-month period. UHY Hacker Young says that restaurants will also have to contend…
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New research by the British Business Bank has indicated that lending to small businesses has returned to pre-pandemic levels. The Small Business Finance Markets Report 2022 found that 2021 was a year of contrast between debt and equity smaller business finance markets. Bank lending returned to pre-pandemic levels while equity investment in smaller businesses reached…
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Irish Government pandemic support has saved at least 4,500 Irish companies from going bust according to research by PwC. The figures represent an average of 50 companies saved every week during the pandemic. PwC examined 18,000 business failures over the past 17 years and measured the correlation between key economic indicators and other trends with…
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Three in five (58 per cent) small or medium enterprises (SMEs) across the UK are currently waiting on late payments from customers, according to research from Barclays surveying 500 small business owners. For medium sized enterprises with 50 to 249 staff, those waiting on late payments rises to more than nine in ten (94 per…
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Five high profile companies Diageo Scotland, Diageo Global Supply IBC, Diageo Northern Ireland, Diageo Great Britain and Unilever UK have been formally removed from the Prompt Payment Code (PPC) after failing to honour their commitments. The voluntary code requires companies to pay 95% of invoices within 30 days to their small suppliers and pay 95%…
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Global credit data and risk intelligence specialist, Creditsafe has announced the acquisition of Graydon. Graydon has been in operation for over 130 years and has been for the last 5 years a 100% subsidiary of Atradius the leading global credit insurer. Graydon is the market leader in B2B information services in the Netherlands and Belgium,…
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Research by Sage shows that more than three-quarters of SMEs expect to return to pre-pandemic levels of profitability in the next 12 months. The poll by the accounting and payroll technology provider also found that two in five smaller businesses expected to hire more people in 2022, with half of those planning to increase their…
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New research from Experian has revealed that better data management and data quality helped businesses to navigate the Covid-19 pandemic, bringing them closer to customers. The annual Global Data Management report, which surveyed 905 data practitioners and data-driven business leaders worldwide, found the majority (75%) of businesses who have improved their data quality in the…
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The food and beverages output is forecast to grow by more than 3% in 2022, but the outlook for food producers and processors is less positive according to a recent report from trade credit insurer Atradius. The report outlines how the UK food and beverages market rebounded after a 5.3% contraction in 2020. Last year…
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The latest Lloyds Bank Business Barometer shows that overall business confidence dropped by one point to 39% as firms highlighted continuing concerns about the pandemic and rising costs. The survey captured responses between 4th January and 18th January before the easing of work from home guidance by the UK governments and shows price expectations reached…
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Over half a million businesses are struggling financially amid soaring inflation and the rollback of government Covid-19 support according to Begbies Traynor’s Red Alert analysis. A total of 589,168 businesses reported financial distress in the final quarter of 2021, a five per cent jump compared to the previous three months. Begbies says that the data…
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Following two years of uncertainty and consecutive lockdowns, 61 per cent of business leaders said that they are seeking business finance to expand and hire in 2022. Furthermore, 63 per cent revealed that they already have plans to look for equity investment in their business during 2022 according to research by Capitalise. The report, titled…
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Credit applications and approvals hit seven-year low amid fears lenders will replicate approach to last recession, according to latest Small Business Index (SBI) by the Federation of Small Businesses (FSB). The research indicated that most small firms plan to grow over the coming 12 months but are being held back by struggles to recruit, increasing…
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