A new government scheme to help small businesses turned down for loans find alternative means of finance launches today (1st November). Under the Government’s bank referral scheme, RBS, Lloyds, HSBC, Barclays, Santander, Clydesdale and Yorkshire Bank, Bank of Ireland, Danske Bank and First Trust Bank will be obliged to offer to pass on details of…
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Research by Opus Restructuring has revealed that administration business rescue procedures are ineffective in over two thirds of cases. Using data and analytics supplied by Company Watch, Opus reviewed the outcomes of 4,581 Administration cases in England & Wales which started in the past five years. Almost 2,000 of the Administrations remain in progress. Out of the…
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ThinCats has appointed Damon Walford as its new Chief Development Officer. Walford will work alongside ThinCats CEO John Mould to help grow ThinCats’ existing business and capitalise on new opportunities, with a particular focus on originating loans and widening the platform’s network of sponsors across the UK. He has more than 20 years’ experience working…
Read moreAdam Tyler the Chief Executive of the National Association of Commercial Finance Brokers (NACFB), is to stand down after 11 years. An NACFB statement said “When Tyler arrived, the Association was run from a small office above a Gift Shop in Exeter with one member of staff looking after 400 members and 48 Patrons. Over the…
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The Insolvency has published the latest Insolvency statistics between July & September. The key finding from the statistics was that total company insolvencies were slightly higher than the previous quarter and also increased on the year. The trend for the past year has been broadly flat. Andrew Tate, president of insolvency and restructuring trade body…
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British SMEs are owed more than £586billion in outstanding invoices, according to a Business in Britain report from Lloyds Bank Commercial Banking. The average small business is owed more than £108,000 in unpaid invoices, an increase of 8 per cent since the last Business in Britain report in January 2016, with almost a third of…
Read moreThe Competition and Markets Authority (CMA) has published research amongst UK businesses which reveals that 54% of those surveyed don’t fully understand the rules on unfair terms, which directly impacts how they treat their customers. Research for the CMA also revealed that some businesses think a signed contract is final, not realising that they can’t enforce…
Read morehttps://www.theguardian.com/business/2016/oct/25/britains-high-streets-under-strain-as-15-shops-close-every-day
Read moreNearly a third of Scotland’s professional services firms are considered to be at higher than normal risk of insolvency, according to research by insolvency and restructuring trade body R3. The research shows that 30.7% of businesses in the sector are considered to be at higher than normal risk of entering insolvency in the next year,…
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More than 550,000 small businesses in the UK have been forced to halt trading due to a disruption in the last two years, according to new research by small business insurer Direct Line for Business. Destroyed stock and delivery vehicles breaking down are just a couple of incidents that have been known to cause a halt…
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KSA Group, has appointed Stephen Jones as Regional Manager. Jones qualified in 1986 and has extensive experience in SME and owner-run businesses, including the turnaround of loss-making companies. Managing Director of KSA Group, Keith Steven, said “Stephen joining ‘plugs a gap’. We now have very experienced regional managers in every main business area delivering innovative turnaround…
Read moreJ&P Credit Solutions, the specialist Debt Recovery division of solicitors practice Judge & Priestley LLP, has strengthened its senior management team by appointing Mark Bailey to the newly created role of Director of Collections. Bailey will be responsible for enhancing and growing J&P Credit Solutions’ pre-litigation offering. He will also work to integrate pre-legal collections activity…
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The Insolvency Practitioners Association (IPA) has appointed Lloyd Hinton as its next Deputy Vice-President Hinton has been a member since 2001 and an IPA licence holder since 2007, is a fellow of the Association, Chairman of the Examinations & Training Committee, member of the IPA Council and has been progressively active in the Association’s activities…
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