Credit, Collections & Insolvency News
Time Finance has appointed Bethan Holliday as Head of Operations in its Asset Finance team. Holliday joins Time Finance with over 20 years’ experience in the financial services industry, having previously held a senior position at Ultimate Finance. In her new role at Time Finance, Holliday will be responsible for the overall operations of the…
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Redwood Bank has appointed Simon Goodyear as its new Chief Information and Technology Officer (CITO). Goodyear brings a wealth of experience in financial services technology, having held senior leadership roles in lending and finance sectors. At JBR Capital, he led critical technology initiatives and played a central role in preparing the organisation for a successful sale.…
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More small businesses expect to downsize or close than grow over the next 12 months, according to a survey by the Federation of Small Businesses (FSB). In the first quarter of the year nearly half of small businesses (48 per cent) expected to grow over the coming year, while only around one in six (18…
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Four in ten (39%) senior financial professionals working in the UK say the country’s dominance in financial services has weakened in recent years, according to research by CRIF. As a result, nearly half (44%) say they no longer consider the country a global leader in financial services, with the top reasons behind this including Brexit’s…
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Latest ONS data has shown that GDP unexpectedly fell by 0.1 per cent in May, marking a second consecutive monthly decline. This follows April’s decline of 0.3 per cent and underscores the challenge the Government’s faces in terms of the overall economy. Manufacturing, retail, and energy sectors saw notable drops, including weaker car production and…
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The British Beer and Pub Association (BBPA) has warned that one pub will close every day this year, with a projected 378 closures across England, Wales, and Scotland. The industry body, which represents more than 20,000 pubs, estimated that the pub closures would amount to more than 5,600 direct job losses. The BBPA says that…
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Business confidence in the UK has fallen to its lowest level in three years according to ICAEW’s Business Confidence Monitor. Tax worries, weakening economic conditions and growing global volatility pulled UK business confidence deeper into negative territory in Quarter 2. The research put confidence at -4.2 on the index, its weakest reading since Q4…
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The Consumer Council for Water (CCW) is concerned that Ofwat’s decision to change the billing accuracy requirement in the Customer Protection Code of Practice (CPCoP) will negatively impact business customers. The consumer watchdog strongly believes the change to the code, which now states that retailers only need to issue one customer bill a year based…
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Around one in five SMEs believe it will become more difficult to pay tax bills in the year ahead as business tax rises come into effect, new research from Premium Credit shows. The study by the leading provider of finance for businesses found worries about paying tax bills are a long-standing issue for SMEs but…
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The percentage of UK small businesses predicting growth has fallen for the fourth consecutive quarter, plummeting to the low levels seen during the lockdown era of 2020, according to new research from Novuna Business Finance. A year on from the Labour Government taking office, the immediate ‘Election Bounce’ in small business confidence (35%) has fallen…
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The overuse of personal guarantees in borrowing is hindering UK business growth, according to a survey by the Federation of Small Businesses (FSB). Research by the business group shows that six in ten (60%) limited company directors would borrow to grow their business, if they did not have to put hard-earned assets like savings or…
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A new Dun & Bradstreet report has highlighted the lowest level of business optimism for the upcoming quarter since late 2023. Following a 12.9% drop in optimism for Q1 and a modest 1.3% drop for Q2, the Global Business Optimism Index declined another 6.5% amid continued macroeconomic uncertainty and mounting supply chain concerns around the world. The…
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Asset-based lending solution, Independent Growth Finance (IGF) has announced the appointment of Graham Leaney as ABL Director for the South West of England and South Wales. Leaney has extensive experience in the ABL and working capital financing industry, having worked in roles of increasing responsibility over the past 20+ years at HSBC, Close Brothers Invoice…
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