Credit, Collections & Insolvency News
SMEs are switching to monthly payments for insurance bills as premium increases put pressure on their businesses according to new research Premium Credit. The research showed that 43% value the ability to pay for insurance monthly through premium finance or finance offered by insurers compared with 32% who prefer to pay in a lump sum.…
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The construction industry experienced the highest number of insolvencies in the 12 months to August 2024, reaching a total of 4,310 according to latest Insolvency Service data for September 2024. Commenting on the latest construction insolvency statistics Kelly Boorman, National Head of Construction at RSM UK, said “The latest rise in construction insolvencies comes amidst a number…
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Optimism among UK SMEs has grown for a third consecutive year, according to a poll by American Express. The survey saw found that seven in ten SMEs say they feel confident about the future of their company, up from 67% in 2023 and 65% in 2022. The poll also found that almost three quarters say…
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A global survey of 79,000 businesses conducted by the Peninsula Group, parent company of BrightHR, has found that although small business owners are optimistic about the potential of Artificial Intelligence (AI), with one in three believing it has the potential to positively transform the workplace, only one in ten are regularly using it. The results…
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One in six business to business (B2B) sellers (suppliers) are offering business customers over two months to pay their invoices, according to a new joint report from economic consultancy Cebr and iwoca. The report reveals the number of suppliers offering repayment terms over 60 days to customers has surged from just 7% of suppliers in…
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New research from Novuna Business Finance has indicated a resurgence in small business confidence with 68% considering new projects for growth, up from 66% earlier this year. New research hints at renewed small business confidence since the installation of the new Government. The Novuna Business Finance study of 1,000 small business owners and senior management…
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New research hints at renewed small business confidence since the installation of the new Government. The Novuna Business Finance study of 1,000 small business owners and senior management reveals that the proportion of enterprises considering new projects to secure future growth has risen to 68%, after a dip to 66% at the start of the…
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A new SME insights report by Dojo has revealed that an estimated 110,940 SMEs are at risk of going bust due to having no cash left to support business operations. The study also revealed that over 30% of SMEs cited rising inflation and high interest rates as their biggest challenge for 2024. Additionally, 1 in…
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UK-listed companies issued 49 profit warnings between April and June 2024, the lowest quarterly total since 2021, according to EY-Parthenon’s latest Profit Warnings report. The report found that profit warnings from UK-listed companies fell 26% compared with Q2 2023. The highest number of Q2 warnings recorded by EY-Parthenon was in 2020, when 166 were issued.…
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Nearly one in 12 SMEs, around 440,000 firms, say they have missed tax payment deadlines in the past year with a third of them admitting to missing five or more, new research from Premium Credit. The study with SME owners and managers found 8% of the UK’s 5.55 million SMEs have missed tax payment deadlines for…
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The average cost of starting of starting a new business costs entrepreneurs on average £16,000 with many relying on personal savings according to new research by Zempler Bank. The research looked at recent data from the Department for Business and Trade which shows that microbusinesses (0-9 employees) and sole traders make up 5.3 million of…
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Credit Connect Media hosted the return of its Commercial Credit & Collections Conference last week at the Met Hotel in Leeds which saw trade credit, insolvency, and economic change and discussed by fourteen leading credit, collections and insolvency professionals. In the sixth edition of the Commercial Credit & Collections Conference series, hosted by Credit Connect…
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A combination of tailwinds to consumption and falling inflation should support modest positive growth in the UK over the remainder of this year and 2025 according to new analysis by KPMG. The prediction follows a technical recession in the second half of 2023, the UK economy has shown tentative signs of renewed momentum, with growth…
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