Credit, Collections & Insolvency News
Invoice finance and asset-based SME lender eCapital UK,, has appointed Mark Finn as Group Managing Director. Finn brings more than 25 years’ experience in invoice finance, beginning his career at Barclays, then holding senior roles at Bank of Scotland, and later becoming Managing Director of one of the UK’s largest independent invoice finance providers. He…
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Latest figures from the Office for National Statistics (ONS) have shown that the UK economy expanded by 0.6% in the first quarter of 2026, unchanged from the preliminary estimate and a clear acceleration from 0.1% growth in Q4 2025, which was revised down from 0.2%. Annual GDP growth was revised to 0.9%, down from the…
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The IoD Directors’ Economic Confidence Index, which measures business leader optimism over prospects for the UK economy, dropped to -61 in June 2026 from -53 in May, signalling a deterioration in economic sentiment. This was matched by a marked fall in confidence in respondents’ own organisations, down to +7 from +23 in May. Most underlying…
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New figures from Novuna Business Finance reveal that nine in ten small businesses (90%) say that aspects of the increase in the cost of living are threatening their growth plans for 2026. As part of the Business Barometer study, which has monitored the growth outlook of UK small business owners every quarter since 2015, Novuna…
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A Wolverhampton director has been sentenced for fraud and money laundering after pocketing £30,000 in Covid loans he was not entitled to. Sohail Cheema falsely declared his company’s turnover was £60,000 when applying to two separate banks for £15,000 Bounce Back Loans in 2020. His business, Sohail Cheema Limited, set up for him to gain…
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UK small business profit growth reached 7.4% in the year to the first quarter of 2026, according to Sage’s latest SME Pulse report. The figure was up from 5.5% in the previous quarter and marks the strongest pace since Q1 2022. The difficulty is that stronger profits are still not always turning into available cash. Sage found that…
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Bibby Financial Services (BFS) has announced the appointment of Oliver Batley as Head of Sales for its Asset Finance business, as it continues to expand its support for UK SMEs. Batley joins Bibby Asset Finance with nearly 14 years’ experience in asset finance. Most recently, he served as Area Sales Director at Lloyds Banking Group,…
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One in five small businesses (20%) say the legacy of Brexit remains a barrier to business growth, according to research by Novuna Business Finance. Drawing on 12-years of tracking research, exploring small business growth outlook since 2015, the report ‘Brexit at 10′ draws together research on small business owner sentiment to Brexit, and their reactions…
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Instability arising from US trade tariffs has fractured the ‘special relationship’ between the UK and US trading partners, according to new research from international SME funder, Bibby Financial Services (BFS). BFS’s report finds that UK SMEs have suffered average losses of £59,000 in the past 12-months due to US tariffs, leading many to reprioritise trade…
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Prime Minister Keir Starmer has announced his resignation, with a new leader to be in place in September. Nominations for a contest for a new leader of his party will open in July with him remaining in post until the process is complete. While Andy Burnham is widely seen as the frontrunner for the leadership,…
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Garfield AI (Garfield), the world’s first AI-powered law firm authorised and regulated by the Solicitors Regulation Authority, has helped a freelancer win a small debt claim at trial. This marks the first court trial won with the support of a regulated AI lawyer anywhere in the world. The win is a landmark moment for legal…
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A banned company director who spent £300,000 of Covid support on family holidays, private school fees, and other personal spending has been jailed. Steven Brookes used funds from six fraudulently obtained Bounce Back Loans to pay for a trip to Disneyland, a holiday rental in Tenerife, and an Audi with personalised number plates for his wife. The 40-year-old also paid £7,000…
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The Bank of England has held interest rates at 3.75% after a deal between the US and Iran pushed oil prices down and reduced inflationary risks to the UK economy. The Monetary Policy Committee voted seven to two to leave rates unchanged, with chief economist Huw Pill and external member Megan Greene dissenting. They called…
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