Credit, Collections & Insolvency News
The UK government may be celebrating favourable tariffs with the USA and new trade deals with countries outside the EU, but the vast majority of UK small businesses are now focused on the domestic British market to secure growth over the next 12-months, according to new research from Novuna Business Finance. The nationally representative survey…
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The UK economy is expected to grow by 1.3% in 2025, revised up from the previous forecast of 1.1% according to the British Chambers of Commerce (BCC). The BCC says that the upgrade reflects better-than-expected economic performance in Q1, supported by public spending. However, GDP is expected to slow slightly in 2026 to 1.2%, before…
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The IoD Directors’ Economic Confidence Index, which measures business leaders’ optimism in prospects for the UK economy, rose to -61 in August 2025 from -72 in July. The August reading of the Index takes us back to the sort of levels seen immediately after last year’s Budget, having dropped to its worst reading on record…
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Business confidence has risen two points to 54%, according to the latest Lloyds Business Barometer. The August reading marked the fourth consecutive monthly increase. Economic optimism edged down for the first time since April, with a fall of three points to 44%, but it remains above the long-term average of 19%. The increase was driven…
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The Trades Union Congress (TUC) has reported that over half of adults fear artificial intelligence (AI) may threaten their jobs. A recent survey revealed that 51% of working adults are anxious about AI’s impact, with concerns peaking among younger workers aged 25 to 34, where 62% expressed worry. The union body says AI technologies can…
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Business confidence in the UK’s services sector has significantly declined in the quarter to August, albeit at a somewhat slower pace, according to the latest CBI survey. Companies are facing profit squeezes due to rising costs and falling sales, leading to reduced hiring and investment. With average selling prices rising at a much slower pace…
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The Night Time Industries Association (NTIA) has reported that over 800 late-night venues have closed since 2020, marking a 26.4% decline in the sector leaving just 2,424 late night venues still operating. According to the research, compiled by the NTIA and CGA by NIQ, losses have stepped up over the past three months with three…
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Prices in shops have risen at the fastest pace for more than a year and are 0.9% up on a year ago, according to the British Retail Consortium (BRC). The increase comes as retailers pass on additional costs to consumers, with the Government having hiked both employer National Insurance contributions and the minimum wage. The…
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Large retailers, including Tesco, Sainsbury’s, John Lewis and Boots, have warned that the Government’s tax plans could jeopardise living standards in a signed letter to the Chancellor sent by trade body British Retail Consortium (BRC). The retailers argue that proposed tax increases and rising business rates may lead to a 6% rise in food prices.…
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Extreme currency fluctuations have caused SMEs to face substantial losses and are compelling businesses to change their FX strategy, according to data from independent SME funder, Bibby Financial Services (BFS). 54 per cent of SMEs surveyed say they’ve been stung by volatile exchange rates in the past year, losing over £53,000 on average as a result.…
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Industry leaders have warned that the hospitality sector is under increasing pressure, with 79% of pubs, restaurants, and bars raising prices due to increased operating costs. A survey by trade bodies including UKHospitality, the British Institute of Innkeeping and the British Beer & Pub Association shows that 73% of operators have less than six months…
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Latest Office for National Statistics (ONS) data has shown that inflation has increased to 3.8 per cent in the year to July – its highest level in 18 months. Inflation rose at its fastest pace since January 2024, driven by rising food, fuel and transport costs and is up from 3.6 per cent in June.…
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Latest ONS data has shown that GDP rose 0.4% month-on-month in June, following a 0.1% fall in May. The market had expected 0.1% growth GDP rose 0.3% in the quarter, versus market expectations of 0.1% growth, with services output growing by 0.3% month-on-month. Construction output grew 0.3% month-on-month whilst Production output grew 0.7% month-on-month. ONS…
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