Credit, Collections & Insolvency News
The Competition and Markets Authority (CMA) has introduced measures which could see micro businesses make significant savings on their energy costs. During its 2-year investigation into the energy market, the Competition and Markets Authority (CMA) found that about 45% of micro businesses across Great Britain were stuck on their supplier’s expensive ‘default’ tariffs. The study concluded that…
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Business Peer to Peer lender, ArchOver, has announced that it has been awarded membership of the Asset-Based Finance Association (ABFA), the trade body for invoice finance and asset-based lending. The ABFA represents over 95 per cent of the UK and Irish asset-based finance market, working to set and maintain ethical standards within the industry. ArchOver’s…
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Credit Insurer Atradius has announced an upgrade to its digital platform with the unveiling of ‘Atradius Atrium’, its new credit management portal. Atrium is an advanced way for business to complete credit insurance transactions creating a new level of service. The Oracle based portal is designed to evolve with digital advancements and user requirements. Andreas…
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The government must not neglect its business rescue reform plans as it prepares for Brexit, says insolvency and restructuring trade body, R3. Plans to introduce the government’s year-old reform proposals – or any other corporate governance reforms – appeared to be absent from the Queen’s Speech. As this will be the only Queen’s Speech for…
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The NACFB has announced the appointment of Graham Toy as Chief Executive Officer. Toy joins the organisation as a permanent replacement for interim CEO, Rob Lankey, who left the Association recently at the end of his interim posting. Paul Goodman, Chairman of the NACFB said “Graham joins us at an important time for the NACFB.…
Read moreMortgage sales for the UK increased by £3.4 billion in May, up 25.4% on the previous month, according to Equifax Touchstone analysis of the intermediary marketplace. Buy-to-let figures jumped 26.1% (£0.55 billion) to £2.7 billion, with residential up 25.2% (£2.88 billion) to £14.3 billion. Overall, mortgage sales for the month grew to £17.0 billion. Every…
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Legal & General’s annual Bank of Mum and Dad survey has found that parents unlocking the equity in the family home could help to put nearly 450,000 young people into their first property. The survey found that this year 4% of homeowners over the age of 55 were considering releasing equity from their home. The…
Read moreFewer than half as many female than male business owners are confident about the future success of their businesses post-Brexit. New research conducted by RateSetter Business Finance has revealed that only 10% of women business leaders believe that leaving the EU will be positive for their business. This contrasts to the fact that twice the…
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The Federation of Small Businesses (FSB) is urging the Government not to revisit shelved plans for tax increases on the self-employed as its latest Small Business Index (SBI) shows confidence dropping among members. The SBI is down to +15 in Q2 2017 from +20 in Q1, marking the first fall in the index since the…
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Cifas has released a new collaborative report with LexisNexis Risk Solutions which highlights that company directors are one of the most at-risk groups for identity fraud. Nearly 19% of identity fraud victims are company directors, this is despite company directors comprising less than 9% of the UK’s population. Furthermore, the report also identifies a trend where identity fraudsters…
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John Brooks has joined alternative lender Thincats as Business Origination Manager. Brooks joins the company from Natwest and having spent 42 years working with UK businesses – 30 years of which he spent working within different areas of the SME market. The past 12 years have seen John specialising in the professional services sector in…
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Credit Insurer Euler Hermes has strengthened its UK and Ireland management team with the appointment of Melissa Dowle as Director of Customer Strategy and Mike de Bresser as Commercial Director. The Director of Customer Strategy is a newly-created role and Dowle will manage Euler Hermes’ response to the changing needs of clients and brokers. De…
Read moreNew research conducted by RateSetter Business Finance reveals how credit conditions look to be tightening again, with over 400,000 small businesses now interested in finding an alternative to the banks for a loan. When asked, 32% of SMEs that had considered raising finance said that it was now harder than six months ago. During this…
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