Credit, Collections & Insolvency News
May’s NatWest Regional Growth Tracker showed renewed increases in business activity across several parts of the UK, alongside a general revival of firms’ growth expectations for the coming year. The Tracker – which surveyed businesses operating in the manufacturing and services sectors across 12 regions of the country – showed improvements in…
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A new report by the British Retail Consortium (BRC) has put cost pressures in the UK retail sector could lead to one in ten jobs being at risk by 2028. Since 2015, over 350,000 retail jobs have already been lost, a decline significantly larger than that in the steel industry. While the Government has…
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A woman who pretended to run a business to secure a £50,000 Covid Bounce Back Loan has been sentenced for fraud following an investigation by the Insolvency Service. Rubaszko applied to a bank for a Covid Bounce Back Loan on 26th April 2021, which was approved on 28th April 2021 and paid into her bank…
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A new survey of hospitality operators from across the sector lays bare the impact of recent increases to employer National Insurance Contributions (NICS) and the changes to Business Rates on hospitality businesses. The effects are already so dramatic that Government targets, including ambitions to hit 80% employment and high street renewal, look doomed to fail…
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eCapital Commercial Finance, has announced two key appointments to its board of Directors as part of an evolution in its corporate structure, designed to drive the company’s next phase of growth. Ant Persse has been appointed Chief Product Officer, bringing a wealth of experience across product innovation, finance technology, and credit risk. He has successfully…
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New research by American Express has found that over two-thirds (68%) of SME leaders feel their businesses are resilient, having faced a series of challenges. The resilience sentiment translates into business confidence, with 73% of SME leaders expressing optimism about their company’s future prospects. This represents a four percentage point increase from the previous year’s survey…
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The UK could see higher than expected growth due to trade deals agreed with the US and the European Union, with KPMG predicting that growth could hit 1.2% in 2025 as trade agreements lower uncertainty. The UK economic outlook could brighten over the next two years as the economy stands to benefit from easing trade…
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Despite persistent economic headwinds, small and medium-sized enterprises (SMEs) are showing remarkable resilience, with the majority reporting growth over the last 12 months. New research from specialist SME lender Shawbrook reveals that 71% of SMEs have grown in the last year, with 21% reporting significant growth. This compares to only 46% of SMEs reporting growth…
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Paragon Business Finance has become the latest financial services provider to register with the Lending Standards Board (LSB) Standards of Lending Practice for business customers – asset finance. The Asset Finance Standards set the best practice framework for the provision of asset finance to businesses with a turnover up to £25m, and cover hire purchase and…
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New research from Premium Credit has shown that more than half of SMEs are continuing to use credit to ensure they maintain insurance cover despite rising premiums. The data shows that 54% of SMEs (55% in 2024) use some form of credit to pay for insurance, borrowing an average £1,180. Around 15% of them say they…
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Nearly eight in ten (79 per cent) of UK businesses are concerned about tariffs and global trade uncertainty, prompting many to take pre-emptive measures, according to new research by Barclays. UK businesses remain confident about their own prosperity (86 per cent over the next three to five years). This uncertainty has resulted in UK firms…
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New data Purbeck Insurance Services has found that 51% of SMEs have supported employees financially during the cost-of-living crisis. With only a third of Britons describing themselves as financially comfortable, according to a recent YouGov poll, SMEs are stepping up to ease the burden on their staff. Despite facing economic headwinds themselves, these businesses remain…
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UK business confidence surged in May to its highest level since last August, according to new data from Lloyds Bank. The rise was driven by a sharp rebound in global financial markets and a softening in trade tensions between the US and its partners. The business barometer rose by 11 points to 50% up from…
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