Credit, Collections & Insolvency News
Economic uncertainty and the prospect of tax changes being introduced in the upcoming Budget are behind a slowing appetite for external funding according to Atom bank’s ‘SME Pulse’ for Q3 2024. The quarterly poll of commercial brokers found that there has been a drop off in demand from SMEs for funding. While nearly half (47%)…
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New figures released by the Finance & Leasing Association (FLA) show that total asset finance new business (primarily leasing and hire purchase) fell in August 2024 by 7% compared with the same month in 2023. In the eight months to August 2024, new business was 4% higher than in the same period in 2023. New…
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Business confidence fell for the first time in a year as tax fears hit a joint record high ahead of the Autumn Budget according to sentiment tracking by ICAEW. The ICAEW’s Business Confidence Monitor (BCM) dropped to 14.4 on the index in Q3, the first decline in 12 months and down on last quarter’s reading…
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New research by Direct Line has found that the average tradesperson is chasing £6,000 in late payments. The data has shown that 81 per cent of tradespeople are chasing late payments, with the average tradesperson chasing seven outstanding invoices A fifth (22 per cent) of tradespeople say pursuing late payments is taking time away from…
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Nearly a third of commercial finance brokers say they frequently encounter difficulties in securing funding for their clients due to changes in funder policies, latest survey data from Asset Advantage can reveal. Just over 27% of brokers say they encounter challenges frequently or very frequently, more than half (56.8%) face difficulties on occasion. The biggest…
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SME commercial property lender Assetz Capital has announced that it has appointed four senior executives to its board. The business will continue to be led by CEO and co-founder Stuart Law, with newly appointed board members including Andrew Fraser (Chief Commercial Officer), Irene Thomas (Chief Operating Officer), Mark Wardrop (Chief Financial Officer) and Tim Harper…
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Business confidence rose slightly in September as companies pinned their hopes on further interest rate cuts this year, despite a weakening labour market, stubborn inflation and uncertainty around the new Labour Government’s first Autumn Budget, according to the latest Business Trends report from business advisory and accountancy firm, BDO. The BDO Optimism Index rose to…
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CCW has announced that it has confirmed Mike Keil as its permanent Chief Executive. Keil took the reins on an interim basis last October after the departure of former CEO Emma Clancy, following her three years at the helm. He has been with CCW for the past seven years having previously served as the organisation’s…
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The Federation of Small Businesses (FSB) is calling on the Chancellor to deliver a decisively pro-small business Budget, saying SMEs are ‘sick of stagnation.’ The UK’s largest small business group says the Budget, on 30th October, will be the Chancellor’s ‘first and best chance’ to secure sustainable, long-term economic growth. It calls for specific measures…
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The National Association of Commercial Finance Brokers (NACFB) has announced that it has appointed Jim Higginbotham as its new Chief Executive Officer (CEO). Higginbotham most recently served as Group CEO at STAR Asset Finance, where he led the brokerage through a period of substantial change, enhancing the risk control framework, upgrading the IT infrastructure, centralising…
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In the first major survey of business sentiment since the General Election, the BCC’s Quarterly Economic Survey – the UK’s largest and longest running independent business survey – shows taxation is now the main area of concern for businesses. Ahead of the Budget later this month, 48% of firms cited it as a worry (compared…
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Latest British Retail Consortium (BRC) data has shown that footfall in the UK has risen for the first time in more than a year, climbing 3.3% in September. Total footfall increased by 3.3% in September (YoY), up from -0.4% in August. High Street footfall increased by 0.9% in September (YoY), up from -0.3% in August. Retail Park footfall increased by 7.3% in September…
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According to a recent report by FGS Global, British business leaders are increasingly concerned about the impact of cyber-attacks, with 85% of firms experiencing a crisis in the past year. The report reveals that business leaders across Britain, including top executives from EY and JD Sports, are concerned about cybersecurity. This concern comes after a…
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