Credit, Collections & Insolvency News
SME finance monitor shows only 41% of SMEs seeking finance were confident the bank would lend to them in Q4 2017. Nic Beishon, Head SME of Commercial at Equifax, said “There are millions of companies in the UK with fewer than 10 employees and many who apply for finance often have a limited credit history –…
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The Government has announced its commitment to end late payment culture as part of its Spring Statement. Responding to the news the Federation of Small Businesses (FSB) National Chairman Mike Cherry, said “The Chancellor has sent a clear message to UK boardrooms today by committing to ending the late payment crisis that destroys 50,000 businesses a year. We…
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A new report by Coface has indicated that here was an 8.3% drop in the number of French business insolvencies to 53,414 cases over one year in January 2018, which is the lowest since October 2008. Their cost to the economy is experiencing a double-digit drop: -15.2% for supplier debt (3.2 billion euros) thanks to…
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Pre-pack administrations are continuing to side-step measures to stop the abuse of the current insolvency system, according to new research by Moore Stephens. Just 23 pre-pack sales were referred for scrutiny in 2017 by the Pre-Pack-Pool, the independent review body designed to help stamp out abusive pre-packs – down from 49 in 2016. A pre-pack…
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Data Interconnect has announced it has become a member of the WISE Campaign to support the growth of women in tech. WISE aims to energise people in business, industry, and education to increase the participation, contribution and success of women in science, technology, engineering and mathematics (STEM). Data Interconnect says that recruiting enterprise PHP developers…
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Businesses in England and Wales faced the first rise in adverse County Court Judgements (CCJs) in eight years during 2017, according to figures released today by Registry Trust. In 2017, 105,633 CCJs were registered against businesses in England and Wales, up 30 percent on 2016 and the first year-on-year increase since 2009. The rate of…
Read moreBritain’s small and medium-sized enterprises remain deeply anxious about the prospects for their businesses, new research from Close Brothers reveals, with few firms confident they will grow during the course of 2018. Their nervousness reflects concern about the outlook for slower growth from the UK economy, as well as barriers that threaten to hold their…
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The Chartered Institute of Credit Management (CICM), has announced the first three candidates to successfully attain their Level 2 Apprenticeship in Credit Control and Collections. The three successful apprentices, Bradley Abbott of Aggregate Industries UK, Ryan Coton of Adecco Group UK & Ireland and Lewis Pace of Smiths News were fully supported throughout the programme…
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Personal finance should be included as a standalone subject in UK schools, according to the deVere Group. Nigel Green, the founder of deVere Group, has made the suggestion speaking out days after the leader of the Church of England, the Archbishop of Canterbury, said that learning about finances is as important as learning about sex…
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Ofgem has proposed new rules that would lead to UK consumers saving £5 billion on energy bills over five years. The Office of Gas and Electricity Markets (Ofgem) has announced a proposal to input strict price controls on energy costs. The proposals will lead to £15-£25 in savings per year for household consumers and 5…
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Young people across the UK are slashing spending to make ends meet at the start of the year, according to the latest Lloyds Banking Spending Power Report. In the monthly Ipsos MORI survey of over 2,000 bank account holders in the UK, 60% of all consumers say they have changed their eating and going out…
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Cash process specialist, Onguard has announced that it has expanded its management team to help create growth in the UK market. Wolter Kreun has been appointed Manager Professional Services to strengthen the management team. Martin de Heus VP Sales also joins. De Heus succeeds former Sales Director John Scholte. Bert van der Zwan, CEO at Onguard…
Read moreSmall businesses could be stung with £355 million of extra interest payments if rates rise by 0.25 percent, new research has claimed. The research by debt adviser Hadrian’s Wall Capital shows that SMEs would be liable for an extra £355 million in interest payments in the first year if rates increased by a quarter. If…
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