The National Debtline and Business Debtline have provided more free debt advice in 2024 than ever before as cost-of-living pressures continued to hit household finances, according to the Money Advice Trust’s latest Impact Report. The charity’s free, independent debt advice services for individuals and small businesses provided six million minutes of debt advice, with 271,900…
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New research by ThinCats has found that mid-sized companies that borrow are sixteen times more likely to achieve growth than face insolvency. The data found that companies that borrowed were more likely to achieve growth than non-borrowers, with the level of borrowing proportional to growth potential. Nearly 40% of mid-market SMEs have achieved revenue growth…
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New research from EY. has found that whilst the majority of companies say they have energy-related strategies and targets in place with three in five (62%) say the volatility of costs is already impacting profitability and competitiveness, with 66% concerned about the availability and reliability of energy supply to meet their future needs. The latest…
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A former pub owner who failed to disclose his bankruptcy when he applied for Covid support funds has been handed a suspended sentence. Gary Wright did not inform the bank that he was bankrupt when he obtained a £25,000 Bounce Back Loan in the summer of 2020. The 46-year-old made the application on behalf of…
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UK-listed companies issued 62 profit warnings during Q1 2025, an 11% year-on-year fall, however the proportion of listed firms to warn in the last 12 months remains high (18%). EY-Parthenon’s latest Profit Warnings report found that the leading factor behind profit warnings in Q1 was contract and order cancellations or delays, cited in 40% of…
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Small importers have warned that reciprocal tariffs on the US market would ‘wreck’ their business plans, research by the Federation of Small Businesses (FSB) shows. The UK’s largest business group has today published data showing that one in three (33%) would scale back orders if the UK Government struck back and taxed goods headed from the US…
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Institute of Directors (IOD)’s latest Economic Confidence Index, which measures business leader optimism in prospects for the UK economy, rose slightly for the second month in a row, from -58 in March 2025 to –51 in April – the highest since September 2024 (-38). Business leader confidence in their own organisations also improved from +5…
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A new report by European debt collection specialist Intrum has highlighted that without improved economic conditions, up to 10 million European businesses face potential closure within two years, threatening up to 40 million jobs. Late payments are a key driver of this risk, draining liquidity and limiting SMEs’ ability to invest and grow. In the…
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A builder who was disqualified as a company director for Covid loan abuse has now agreed to repay all the money the company was not entitled to claim. Ioan Marcu inflated his Imbusi Ltd company’s turnover to receive a £50,000 Bounce Back Loan in 2020, the maximum allowed under the scheme. Marcu was disqualified as…
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A new report by the Treasury Committee has found that the Government’s failure to act to tackle declining cash acceptance could lead to a two-tier society, with the most vulnerable bearing the cost. The Committee heard directly from vulnerable groups, including people with learning disabilities, domestic abuse victims and the elderly, that buying essential goods…
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A director who secured maximum-value Covid loans for three dormant companies and overstated his turnover to secure a fourth during the pandemic has been jailed. Ricky Harrison received a total of £200,000 in Bounce Back Loans during 2020, when he was entitled to just £16,000 at most. He also spent the money for personal purposes,…
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Despite an uncertain economy, applications for personal guarantee-backed business loans rose by 9% year-on-year in the first quarter of 2025. This is according to the Q1 2025 Personal Guarantee Insurance (PGI) Monitor from Purbeck Personal Guarantee Insurance, the UK’s only provider of PGI to SMEs. The 9% rise suggests that the appetite for finance remains…
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New research from the Institute of Directors reveals business leaders enthusiasm for productivity gains from AI has been tempered by board-level expertise gaps, reliability concerns and security risks. Nearly half (49%) of UK business leaders whose organisations use AI across any of their functions and processes, with 78% citing increased productivity and operational and administrative…
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