Credit, collections & insolvency news
More that half of business owners (54%) think the latest recession was an opportunity for entrepreneurs, whilst 51% think British entrepreneurship is about to boom. This rises to 57% of serial entrepreneurs, who have started multiple businesses in their time, according to new research from Charles Stanley. The research, has found that the opportunities driving…
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Small firms say the ‘supply chain could crumble’ unless the next Government prioritises international trade. Figures from the Federation of Small Businesses (FSB) show that one in five (22%) small firms are worried about the costs of exports and imports over the next five years. FSB research also shows how one in four (27%) would…
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Latest economic ONS data has shown that growth was flat, with GDP unchanged between March and April. GDP showed no month-on-month growth following a 0.4 per cent rise in March The data reflects modest growth in April, offset by weakness in both Production and Construction. Services output rose 0.2% month-on-month whilst Construction output fell 1.4…
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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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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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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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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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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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Higher interest rates will cost British businesses an additional £4.7 billion a year for the rest of the decade – and much of this cost will be pushed onto consumers, according to a new study by management consultancy Baringa. Baringa believes companies are experiencing the largest such hike in debt-related costs ever faced by the…
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A former electrician has had his bankruptcy restrictions extended for 11 years after claiming a £45,000 Bounce Back Loan to support his business during the pandemic despite not being self-employed at the time. Andrei Moise from Mitcham in Surrey, received a £45,000 Bounce Back Loan in July 2020 to support his role as a self-employed…
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SilverRock Bank has announced the granting of its banking authorisation with restriction by the Prudential Regulation Authority following the completion of a £50m funding round. SilverRock’s unique business model and strategy is predominantly built to partner with non-bank and other lenders to support them to compete more effectively over the long term. An Ipsos SME…
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A new report by the London Business School and Evolution and the Institute of Directors has indicated that the adoption of generative artificial intelligence (AI) could widen corporate inequalities, with sectors prone to market consolidation seeing the most significant shifts. The report also proposed a series of recommendations that businesses and policymakers can implement in…
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