Debt recovery specialist J&P Credit Solutions has partnered with the TCM Group, a global network of debt collection providers, to enhance its international recovery services. J&P Credit Solutions currently acts on behalf of a number of clients who look to pursue and recover debt from customers based overseas. The TCM Group is a global network…
Read moreRateSetter has appointed Michael Hoare as Head of Risk Analytics and Retail Credit. Hoare joins from PayPal UK, where he was Chief Credit Risk Officer, overseeing underwriting, customer management and collections strategies for unsecured consumer and small business lending. Before PayPal UK, Michael worked at Capital One, where he held a number of positions including Credit…
Read moreA New report from KPMG and peer to peer lender (P2P) TWINO shows UK leads the way in alternative finance but also suggests that continental European lenders catching up. The report shows that the UK still leads the way in alternative finance, with four times higher volumes in aggregate than the rest of Continental Europe.…
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The Competition and Market’s Authority, (CMA) has conducted a market study into legal services and found that businesses looking to employ legal help often don’t have all the information they need to make an informed choice. This can lead to poor quality service or consumers paying over the odds. Small businesses are disproportionately affected by…
Read moreAlmost half of the UK’s small to medium sized enterprises (SMEs) are being paid late, according to Bacs Payment Schemes Limited (Bacs), the company behind Direct Debit and Bacs Direct Credit in the UK. The average late payment debt now stands at £32,185 which equates to a substantial £26.3 billion total across the 47 per…
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139,000 businesses in the UK are only paying the interest on their debt and not repaying the debt itself, according to new research by insolvency and restructuring trade body R3. The number of businesses in this position – equivalent to 8% of all UK businesses – has returned to levels more in line with previous years…
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The amount of alternative finance available under ‘asset based lending’ to UK businesses reached a record high of £4.3 billion, up 22% in the last year*, says the Asset Based Finance Association (ABFA). The ABFA explains that asset based lending allows businesses to borrow against a range of assets they already own, including inventory, property,…
Read moreOver a third (35%) of entrepreneurial Britain said they would resort to their own personal savings when starting or growing a business, new research commissioned by crowdfunding specialist Crowdfinders has found. The second most popular option in the nationally representative survey of over 2,000 UK adults was banks and institutions (28%). Whereas, 15% – the…
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Four-in-ten (38%) small and medium-sized businesses (SMEs) have suffered cashflow problems over the past two years, according to new research1 by Amicus Commercial Finance. The figure rises to two-thirds (65%) among medium-sized firms with between 50 and 250 staff. According to the study conducted among 500 small businesses owners, over the past two years one-in-seven (15%)…
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The Financial Conduct Authority (FCA) has given an update on the post-implementation review of the loan-based and investment-based crowdfunding market. Based on a review of the feedback received, issues seen during the supervision of crowdfunding platforms currently trading and consideration of applications from firms seeking full authorisation, the FCA believes it is appropriate to modify…
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New research from the Federation of Small Businesses (FSB) shows disputes are costing small firms in England and Wales at least £11.6 billion each year. FSB’s latest report, ‘Tied Up: Unravelling the dispute resolution process for small firms’, reveals for the first time the scale of disputes in the economy and the costs spent chasing debts.…
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OnGuard and Credit Tools have announced they are to merger. The merger will strengthen their European credit management software solutions. The new name of the organisation will be announced at a later stage. The merger will optimise the innovative capacity so that the organisation can continue to fulfill its strategic pioneering role for customers in the…
Read moreMore than 5000 restaurant companies are at risk of insolvency as a result of the Brexit vote and business cost increases. A total of 5,570 restaurant companies have at least a 30% chance of going insolvent within the next three years according to Moore Stephens. Higher costs and stagnating incomes have put a strain on businesses, and…
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