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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Total like-for-like retail sales in discretionary categories fell by -1.2% in May, compared to a positive base of +2.3% in the same month last year, according to BDO’s latest High Street Sales Tracker. The decline was driven in part by the fall in non-store retail sales, which dropped by -3.1% compared to May 2024. This…
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Specialist business bank Redwood has announced the appointment of Stuart Davidson as its new Chief Commercial Officer (CCO), to further bolster the Bank’s savings and lending proposition for future growth. Davidson, who joined Redwood in early 2018, just months after its launch, has more than 35 years of financial services experience. He spent two decades…
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The IoD Directors’ Economic Confidence Index, which measures business leaders’ optimism in prospects for the UK economy, jumped to -35 in May 2025 from -51 in April – the highest that the Index has been since August 2024 (-12). Business leader’ confidence in their own organisations rose slightly to +15 from +13. In terms of…
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CEOs are adjusting their strategic investment plans as geopolitical, macroeconomic and trade uncertainties continue to disrupt global markets, according to the latest EY-Parthenon CEO Outlook survey. The survey, which was compiled in April following the initial announcement of US trade tariffs, evaluates the optimism levels of 100 UK CEOs. Forty-three per cent of respondents identified geopolitical, macroeconomic…
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British retailers are experiencing their steepest decline in confidence in five years, primarily due to Rachel Reeves’ £26bn tax raid and the uncertainty from Donald Trump’s trade war. According to the Confederation of British Industry (CBI), retail sales have dropped 27% year-on-year from May 2024, with expectations of a further 37% decline in June. Sentiment…
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The number of overdue invoices on the books of Scottish businesses dropped to the lowest level in 2025 so far in April, according to new research from R3, the UK’s insolvency and restructuring trade body. R3’s analysis of data provided by Creditsafe shows Scottish businesses had a total of 602,822 overdue invoices on their books in…
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A mother paid nearly £200,000 to her daughter using funds due to a supplier just days after they decided their company was insolvent and would cease trading. Hazel Lamont and her daughter Nicola Murray were directors of Scotparts UK Ltd, which was described on Companies House as being involved in the sale of machinery, industrial…
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New research from Uswitch has found that nearly a quarter of entrepreneurs (23%) are pushing back against the use of Artificial Intelligence (AI) in their small businesses. Among the 29% who see AI as a threat, over half (52%) say they fear it could replace their jobs. When asked what’s influencing their stance, 27% of…
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The winners of the 2025 Credit & Collection Industry Awards have been announced following a live in-person event yesterday (Thursday 22nd May) at the Milner Hotel in York There were eighteen winners (four of which were partnership wins) from the twenty awards categories, which were presented by awards compare’ Brennan Reece. The Credit & Collections…
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