Credit, Collections & Insolvency News
GDS Link has announced it has renewed a multi-year deal with Capital on Tap to utilise its decisioning platform to support and complement Capital on Tap’s proprietary risk models across its UK and US business. Since its launch in 2012, Capital on Tap has served over 200,000 small business customers, facilitating over £10 billion in…
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Two thirds (67%) of financial services leaders are more positive about the sector’s future growth under the new government, according to KPMG’s latest UK Financial Services Sentiment Survey. The quarterly poll, which was conducted after the General Election, tracks sentiment among over 150 leaders working across banking, insurance, asset and wealth and private equity. It…
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Latest data from the Office for National Statistics (ONS) has shown that the UK economy grew faster than expected in May, expanding by 0.4% after seeing zero growth in April. This came as the services sector, which covers businesses such as shops, bars and restaurants, grew by 0.3%, while the construction sector jumped by 1.9%.…
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Nearly one in 12 SMEs, around 440,000 firms, say they have missed tax payment deadlines in the past year with a third of them admitting to missing five or more, new research from Premium Credit. The study with SME owners and managers found 8% of the UK’s 5.55 million SMEs have missed tax payment deadlines for…
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The average cost of starting of starting a new business costs entrepreneurs on average £16,000 with many relying on personal savings according to new research by Zempler Bank. The research looked at recent data from the Department for Business and Trade which shows that microbusinesses (0-9 employees) and sole traders make up 5.3 million of…
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Credit Connect Media hosted the return of its Commercial Credit & Collections Conference last week at the Met Hotel in Leeds which saw trade credit, insolvency, and economic change and discussed by fourteen leading credit, collections and insolvency professionals. In the sixth edition of the Commercial Credit & Collections Conference series, hosted by Credit Connect…
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Business confidence climbed to its highest point in 2 years, reaching a score of 16.7 in the second quarter of this year, according to a survey by the Institute of Chartered Accountants (ICAEW) in England and Wales. The increase in confidence was driven by falling inflation and forecasts for better sales. Strong wage growth and…
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The British Business Bank has relaunched its Growth Guarantee Scheme with the approval of 41 lenders to provide loans to thousands of small businesses over the next two years. Jeremy Hunt, the former chancellor, first confirmed the scheme’s continuation in his March budget. The Growth Guarantee Scheme is designed to support access to finance for…
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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) grew in April 2024 by 31% compared with the same month in 2023. In the first four months of 2024, new business was 7% higher than in the same period in 2023. The…
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The Azzurro Group has announced two additions to its senior team that will deliver increased strategic management and governance. Leigh Berkley has joined as an independent Non-Executive Director. Berkley is a former President and Director of the Credit Services Association (CSA) and Vice President of the Federation of European National Collection Associations (FENCA). He is…
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Sir Keir Starmer has become the UK’s next prime minister after Labour secured a majority in last week’s general election. The results showed that the Conservative party saw its number of MPs fall to the fewest in its history. Commenting on the result, David Postings, Chief Executive of UK Finance said “I’d like to congratulate…
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A combination of tailwinds to consumption and falling inflation should support modest positive growth in the UK over the remainder of this year and 2025 according to new analysis by KPMG. The prediction follows a technical recession in the second half of 2023, the UK economy has shown tentative signs of renewed momentum, with growth…
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The Labour party will likely have a majority vote to win the General Election. Responding to the news Policy Chair of the Federation of Small Businesses (FSB), Tina McKenzie, said “Congratulations to the new Prime Minister and Government on their decisive election victory, and congratulations to the newly elected MPs from all parties. “The clear result…
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