Credit, Collections & Insolvency News
Late payments remain a persistent issue globally nearly a decade past the 2008 crisis, but the long-term outlook is optimistic. A 3% improvement in the cash-to-cash cycle of UK companies has released £8.8bn previously tied up in working capital, according to Grant Thornton’s latest UK Working Capital Survey. Individual businesses, not just the economy benefit…
Read moreA growing number of micro, small and medium-sized businesses know they can shop around for a better water deal, but more than half are still unaware of the new market in England according to the first in a series of online surveys by the Consumer Council for Water (CCWater) aimed at tracking awareness of the…
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Responding to the Government release of its plans for a shared approach to data protection, Mike Cherry, National Chairman at the Federation of Small Businesses (FSB), said “Research from FSB shows that data protection is definitely on the minds of small business owners, with almost 60 per cent of members ranking data protection laws as a significant…
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The government has published its position paper on post-Brexit civil judicial cooperation which states that the government will seek a post-Brexit agreement which “reflects closely the substantive principles of cooperation under the current EU framework. Commenting on the paper Adrian Hyde, President of insolvency and restructuring trade body R3, said “The UK’s insolvency and restructuring profession…
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The Association of Short Term Lenders (ASTL) has today announced its new executive committee for the upcoming year. The new board will take effect as of the 1st September 2017. The board will continue to comprise seven directors who will act as a guiding influence, while providing direction and decision making to the Association. Benson Hersch,…
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Small businesses are still fighting an uphill battle to secure public sector contracts, according to the latest report from the Federation of Small Businesses (FSB), which means the Government’s new targets for SME public procurement are unlikely to be met. FSB is calling on Government and the public sector to step up efforts to remove…
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Fraud prevention service, Cifas has released new figures showing that identity fraud has continued to rise at record levels in the first six months of 2017. A record 89,000 identity frauds were recorded, up 5% from last year. Representing over half of all fraud recorded by the UK’s not-for-profit fraud data sharing organisation, 83% of…
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ABN AMRO Commercial Finance (ACF) has appointed Andrew Johnston as UK Head of Sales SME. Johnston will lead a team of business development managers located across England and Wales focused on supporting SMEs with funding requirements up to £10m. With over 26 years’ experience in financial services, Andrew joins ACF from the Royal Bank of…
Read moreSiemens Financial Services (SFS) has appointed Julian Hobbs as Chief Executive Officer of the Commercial Finance division. Hobbs joined the SFS Commercial Finance business in December 2010, following previous sales and risk roles in the asset and receivables financing industries, more latterly as Managing Director of Deutsche Leasing’s operations in the United Kingdom and Ireland.…
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SMEs are increasingly concerned over their ability to gain funding in the run up to Brexit, a survey has revealed. The study, commissioned by specialist insurer Hiscox, has found that recent economic and political uncertainty has adversely affected business confidence, and caused concern for the future as Britain’s withdrawal from the EU becomes nearer. This…
Read moreManufacturing continues as the principle driving force behind business confidence in the UK, according to the latest results (Q2 2017) from the UK’s Credit Managers’ Index (CMI), the quarterly barometer from the Chartered Institute of Credit Management (CICM). The 1.3-point rise experienced in manufacturing sees the Index close at 64.0, another all-time CMI high. The…
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New figures released by the Finance & Leasing Association (FLA) show that asset finance new business (primarily leasing and hire purchase) grew by 16% in June, compared with the same month last year, and by 12% in the second quarter of 2017 overall. The plant and machinery finance and IT equipment finance sectors reported new…
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Credit insurer Atradius has released a new trade report covering the Middle East and Northern African (MENA) economies. Alun Sweeney, Country Director for UK & Ireland at trade credit insurer Atradius, said: “Businesses are constantly striving to seek new trade opportunities, and build trading relationships, whether as a potential export or import partner. However, success…
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