Commercial Credit Management

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CFOs optimistic about 2022 outlook

A Deloitte survey of CFOs found persistent labour shortages, the pandemic, climate change and higher inflation were seen as the leading risks to their businesses in the year ahead. However, some 37% said that increasing capital expenditure was a priority for 2022. This is the highest figure recorded by Deloitte since it first asked the…

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Losses at large restaurant groups increase ahead of spending squeeze

Losses at the country’s largest restaurant groups rose by 174% to £673m in the year to September, according to analysis by UHY Hacker Young. The lockdown and social distancing rules meant that the restaurant sector was one of the hardest hit by the pandemic. Lost sales cost the hospitality sector around £200 million a day…

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Omicron curtails optimism with businesses approaching the new year with caution

Business optimism and output growth across the UK fell in December, reflecting a cooling in economic activity as firms grapple with the effects of the Omicron COVID-19 variant, according to the latest Business Trends report from accountancy and business advisory firm BDO, The BDO Optimism Index slipped by 0.46 points to 103.81, driven largely by the…

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Managing cashflow is key to business survival

The Office of the Small Business Commissioner (OSBC) has welcomed the clarity provided by a report from the Federation of Small Businesses (FSB) on payment problems faced by small businesses.The OSBC says that the current economic situation is causing increasingly difficult challenges for small businesses. Many are having to choose between paying their bills, in order…

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Optimum Finance makes new appointments

6th January 2022 Appointments | #appointments

Specialist Invoice Finance provider, Optimum Finance has bolstered its team with three new appointments across the Marketing and Finance departments. Jo Maniatt joins as Marketing Director, Szym Wasilewski as Finance Manager and Liam O’Shea as Financial Accountant. Maniatt, previously International Marketing Manager for global brand Bisley Office Furniture, brings with her a wealth of strategic…

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Bibby Financial Services appoints Chief People & Organisation Officer

International business financier, Bibby Financial Services (BFS), has announced the appointment of Helen Norris as Chief People and Organisation Officer to drive forward its BFS 4.0 strategy, which aims to bring together people and technology to boost support for SMEs around the world. Norris joins BFS from the British Business Bank, where she spent more…

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440,000 companies threatened by late payment as costs surge

The Federation of Small Businesses (FSB) is warning that a worsening of the UK’s late payment crisis, high inflation and mounting admin for firms that trade internationally will cause the business community to further shrink in size if left unaddressed, as it releases fresh findings from its quarterly Small Business Index (SBI). The new study…

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Payment delays and insolvencies expected to impact motor sector

4th January 2022 Business | #risk

Credit risk in the automotive industry is set to deteriorate with an increase in payment delays and insolvencies according to new research by trade credit insurer Atradius. The report reveals several challenges facing the industry which stem from supply issues, decreased consumer demand and rising costs.  Combined, these have led to the insurance company rating…

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Businesses write off £8 in every £100 as uncollectible

Businesses are reporting that they are losing £8 for every £100 billed in the last year due to the non-payment of invoices, according to the research by trade credit insurer Atradius. The research barometer reveals nearly half (44%) of the total value of UK B2B sales were reported overdue this year and a further 8%…

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Government announces £1bn Omnicron business support

22nd December 2021 Commercial Credit Management | #economy

The Government has announced £1 billion in support for businesses most impacted by Omicron across the UK. The new measures will mean businesses in the hospitality and leisure sectors in England will be eligible for one-off grants of up to £6,000 per premises, plus more than £100 million discretionary funding will be made available for…

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Business Insolvencies at the highest level since pandemic began

20th December 2021 Business | #business insolvencies

Latest figures from the Insolvency Service has shown that the number of businesses in England and Wales that business insolvencies rose by 18.7% in November 2021 to a total of 1,674 compared to October 2021’s total of 1,410, and increased by 87.9% compared to November 2020’s figure of 891. For the first time since the start…

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Almost one in five small businesses won’t survive 2022 without a bumper Christmas

20th December 2021 Business | #economy

A study by insurance provider Simply Business has predicted that one in five small businesses will not survive 2022 unless their Christmas sales are strong. It was also found that 27% of SME staff are “not confident” about their trading fortunes, while one in ten expects to fare worse this month than they did last…

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Northern Irish business insolvencies rise by 29% whilst personal insolvencies double

Latest statistics from the Insolvency Service have shown that Northern Irish business insolvencies increased by 29% whilst personal insolvencies doubled when compared to 2020 in the latest monthly figures. In November 2021 there were 193 personal insolvencies in Northern Ireland, 11% more than double the number in November 2020, but 32% lower than November 2019.…

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