Credit, Collections & Insolvency News
One in five small businesses (20%) say the legacy of Brexit remains a barrier to business growth, according to research by Novuna Business Finance. Drawing on 12-years of tracking research, exploring small business growth outlook since 2015, the report ‘Brexit at 10′ draws together research on small business owner sentiment to Brexit, and their reactions…
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Instability arising from US trade tariffs has fractured the ‘special relationship’ between the UK and US trading partners, according to new research from international SME funder, Bibby Financial Services (BFS). BFS’s report finds that UK SMEs have suffered average losses of £59,000 in the past 12-months due to US tariffs, leading many to reprioritise trade…
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Prime Minister Keir Starmer has announced his resignation, with a new leader to be in place in September. Nominations for a contest for a new leader of his party will open in July with him remaining in post until the process is complete. While Andy Burnham is widely seen as the frontrunner for the leadership,…
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A banned company director who spent £300,000 of Covid support on family holidays, private school fees, and other personal spending has been jailed. Steven Brookes used funds from six fraudulently obtained Bounce Back Loans to pay for a trip to Disneyland, a holiday rental in Tenerife, and an Audi with personalised number plates for his wife. The 40-year-old also paid £7,000…
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The Bank of England has held interest rates at 3.75% after a deal between the US and Iran pushed oil prices down and reduced inflationary risks to the UK economy. The Monetary Policy Committee voted seven to two to leave rates unchanged, with chief economist Huw Pill and external member Megan Greene dissenting. They called…
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Latest figures from the Office for National Statistics (ONS) have shown that inflation remained steady in May, with consumer prices rising 2.8% year-on-year, unchanged from April and below economists’ forecasts of 3%. The ONS says lower food inflation, including meat and dairy products, helped offset upward pressure from air fares, vehicle taxes and petrol. Services…
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A decade since the UK voted to leave the EU, a regular survey of mid-sized businesses paints a mixed picture of Brexit’s impact on their operations, according to accountancy and advisory firm BDO. BDO’s bi-monthly tracker of 500 mid-sized businesses with revenues between £10m and £500m, revealed that just over a quarter (26%) felt the…
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Data from the Office for National Statistics (ONS) shows that the UK economy contracted by 0.1% in April, marking its first monthly fall since August last year. While the economy contracted on a month-by-month basis, it grew by 0.7% in the three months to April, compared with the previous quarter. The monthly decline was driven…
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UK SMEs trading internationally are facing a tipping point, with seven in ten warning they could be pushed into bankruptcy if disruption linked to the Iran war continues according to new research from SME funder Bibby Financial Services (BFS). The data reveals the growing financial toll of the conflict on UK importers and exporters, with…
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Small businesses and the self-employed struggling with their finances to receive a helping hand through new £4 million funding boost to business debt advice services through the Money and Pensions Service. The funding will go towards expanding access to expert support to help them get back on track, giving a leg up to an additional…
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Britain’s construction sector is heading for a cash flow crisis, with firms battling late payments and rising costs on contracts that are now being delivered at a loss, according to new research from UK accountancy and advisory firm Menzies. The firm’s latest report finds that 86% of construction and property firms are already in or…
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The IoD Directors’ latest Economic Confidence Index, which measures business leader optimism over prospects for the UK economy, rose to -53 in May 2026 from -64 in April. Business leader confidence in their own organisations also rose, to +23 in May from +8 in April. This is the indicator’s highest reading since August 2024 (+23).…
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Business confidence edged upwards by three points to 47% in May, according to the latest Lloyds Business Barometer, indicating tentative stabilisation after the decline seen in April. The 12-month average for overall confidence is currently sitting at 48% and trending above the long-term average of 30% since the survey began in 2002. Businesses’ own trading…
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