Credit, Collections & Insolvency News
The Federation of Small Businesses (FSB) has urged the next government to focus on a better trading relationship with the EU, reform business rates, and clamp down on poor payment practices towards smaller suppliers. The FSB also wants to see an improvement in small businesses’ access to finance and a 33% statutory public procurement target…
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Over half (53%) of UK businesses have been forced to reject potential customers due to a lack of risk visibility, with 61% stating that excessive workload forces them into reactive firefighting instead of proactive risk management according to research by Dun & Bradstreet. The study of compliance decision makers reveal increased pressure on compliance teams,…
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The UK’s middle-of-the-pack record on economic growth since 2010 has been flattered by the population growing by six million people. But Britain will need to turnaround its dire productivity record and leverage its services strengths if it wants raise growth and boost living standards in the 2020s, according to new research By the Resolution Foundation.…
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The UK economy is ‘picking up steam’ as households start to feel better off, according to a new forecast from the Confederation of British Industry (CBI). The CBI has upgraded its GDP growth forecast for this year from 0.8% to 1% and for next year from 1.6% to 1.9%, nearing pre-pandemic levels. Falling inflation is…
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Millions of voters who run their own businesses are still to make a final decision on who they will back on polling day, according to a snap general election survey by the Federation of Small Businesses (FSB). It reveals that 96 per cent of small business owners intend to vote, but one-in-five (20%) have yet…
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In the run-up to the General Election on 4th July, small businesses across the UK are calling on the incoming government to prioritise sustainable and green initiatives according to new research by Novuna Business Finance. The research found that 38% demand a green tax system that rewards small businesses for implementing green initiatives and penalises…
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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 Institute of Directors (IoD) has published a consultation document on a code of conduct for directors. The code of conduct is a practical tool to help directors make better decisions. It also provides organisational leaders with a behavioural framework that can help them build and maintain the trust of the wider public in their…
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New research by Bibby Financial Services has found that construction SME have ambitious grow plans but are being held back by the impact of inflation, supply chain challenges and reduced access to capital. The survey also found that 58 per cent of construction SMEs say they are optimistic that orders will increase in 2025. While the…
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Latest research from the British Retail Consortium (BRC) has shown that total retail sales increased by 0.7% year on year in May, against a growth of 3.9% in May 2023. This was above the 3-month average growth of 0.3% and below the 12-month average growth of 2.0%. Meanwhile food sales increased 3.6% year on year over the three…
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The Government has launched a new HMRC fraud and error taskforce in a bid to recover overpayments made to UK taxpayers during the pandemic. The £100 million Taxpayer Protection Taskforce of 1,200 HMRC staff will combat fraud and aims to recover up to £1.5 billion from fraudulent or incorrect payments for the 2022/23 financial year.…
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Invoice finance provider, Optimum Finance has announced that is has promoted Paul Green to Senior Regional Director. Green will be supporting Optimums’ National Head of Sales, Iain Hendry, in both guiding and helping to further grow Optimums’ sales team. Whilst this is a national role, Green based near Leeds, will continue to have a particular…
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The IoD Directors’ Economic Confidence Index, which measures business leader optimism in prospects for the UK economy, rose to -3 in May 2024 from -10 in April, the highest level the Index has reached since September 2021 (-1). There were also notable improvements in business leaders’ investment intentions, which jumped from +21 in April to…
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