Credit, Collections & Insolvency News
Trade credit insurance specialist Euler Hermes has warned that future export market may prove to be a bad debt risk after Brexit. The findings come from Euler Hermes annual Collection Complexity Scores and Rating report, which measures the challenges of international debt collection procedures in 50 of the largest economies involved in global trade. The report…
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Business finance company MarketInvoice has announced a partnership with credit trade specialist Euler Hermes. The agreement will see Euler Hermes provide credit insurance policies to customers of MarketInvoice in safeguarding their businesses. With Euler Hermes credit insurance, MarketInvoice customers who use invoice finance solutions will have the assurance that they are protected in the event…
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A new report published by Euler Hermes shows that western Europe is leading the way with debt collections procedures. The report titled “Collection Complexity Score and Rating” aims to measure the level of complexity relating to international debt collection procedures within 50 countries. Three main factors were analysed: local payment practices, local court proceedings and…
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Equifax has launched a new solution to support the government Commercial Credit Data Sharing (CCDS) initiative seeking to stimulate competition and encourage new entrants in SME lending, thereby addressing the shortfall in access to finance. The new Equifax solution gives lenders a comprehensive picture of a businesses’ financial health to facilitate faster and more informed…
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Winding up Petitions (Companies) have been issued and advertised in the London Gazette for the following companies: 09232408 LIMITED 1FILM UNIT LIMITED A & A TRANSPORT (CANNOCK) LIMITED A HAPPY CHEF LIMITED A LA CARTE MANAGEMENT LTD A S SITE PREPARATION LTD A.I.M.S SUPPORT SERVICES LIMITED AAC AIR CONDITIONING AND REFRIGERATION LTD ACCELERATE DIRECT LTD…
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Business confidence has improved but still remains in negative territory, according to the latest ICAEW Business Confidence Monito (BCM). The Confidence Index has now been negative for 6 out of the last 7 quarters – equal in length, but not depth, to the global financial crisis. Key findings for Q1 2018: Confidence remains negative although…
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New research has found that many UK businesses are working under double standards in regards to late payment. Most companies demand prompt payment from their customers, they don’t commit to this with their own suppliers. Most businesses are part of a supply chain and all transactions are interconnected; so if suppliers are not paid on…
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Four out of five finance professionals have said that their department is not keeping pace with the rest of the organisation’s digital transformation plans, leaving them struggling with productivity, cost and efficiency issues, according to new UK research among senior finance and IT executives. IT which most commonly leads digital transformation said finance was the…
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More than a quarter of all invoices are being paid late, according to new official statistics, leaving small businesses struggling for cash. The average reported time to pay was 38.97 days with just over half (51.71%) paid within 30 days. A third (33.02%) were paid between 31 and 60 days, and 15.25% were paid later…
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The number of companies falling into insolvency in Scotland fell to an eight-year low last year according to new research by KPMG. The report found 832 companies went into administration or liquidation in 2017. The total was the lowest since 2008, when 803 firms entered insolvency. The insolvency figures were 15 per cent lower than in 2016,…
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New research by Dun & Bradstreet has highlighted that late payments are having an adverse affect on British enterprise, with 11 percent owed more than £100,000. In a survey of more than 500 managers at companies ranging from two to 250 employees, The research found it is putting the future at risk for 58 percent…
Read moreBusiness Secretary Greg Clark has welcomed a decision by several banks to set up funds to support small businesses affected by Carillion’s insolvency. Lloyds Banking Group has launched a £50 million fund, HSBC a £100 million fund and RBS has made £75 million of assistance available. It follows a meeting held by Greg Clark yesterday with banks where…
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UK sales recorded four consecutive quarters of growth in 2017, rising by 24.91% or £1.77 trillion worth of sales in the last three months of the year. Bad debt also dropped to its lowest point at the end of 2017, with UK businesses chasing an average of £193,014 worth of unpaid invoices in Q4 2017,…
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