Credit, Collections & Insolvency News
A British Retail Consortium (BRC) survey has found that British retailers are expected to increase prices in the coming months due to rising employment costs. In February, shop prices were 0.7% lower than the previous year, but saw a monthly increase of 0.4%, marking the largest rise in a year. The report also noted that…
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A third (33%) of SMEs say they will have to raise prices this year as a result of the Government increase in National Insurance Contributions (NIC) for employers. More than four-in-ten of the UK’s small and medium-sized businesses (SMEs) admit that the government’s increase in NIC for employers will negatively impact them, with nearly a…
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The IoD Directors’ Economic Confidence Index, which measures business leader optimism in prospects for the UK economy, dropped back to -64 in February 2025, from -59 in January. Business confidence remains at historically depressed levels, just above the recent nadir of -65 in November 2024 and close to the lows reached during Covid. Business leader’s…
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The latest Lloyds Bank Business Barometer has found that business confidence surged in February reversing much of the previous five-month decline. The headline index jumped 12 points to 49%, its highest since August, and nearly erasing recent losses in one month. The Bank of England’s interest rate cut to 4.5% likely aided this improvement. Nevertheless,…
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The percentage of small business owners that say workplace worries keep them awake at night has hit ten-year peak, according to new research from Novuna Business Finance. The data showed that nationally, eight in ten (82%) business owners say they get broken sleep or lie awake at night worrying about pressing business issues – up…
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A survey of hospitality businesses has found that 70% plan to reduce employment amid increases to tax and wages, while 60% expect to cancel planned investment and 29% will reduce trading hours to cut costs. The British Beer and Pub Association, the British Institute of Innkeeping, Hospitality Ulster and UKHospitality are highlighting the strong record…
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The number of UK mid-sized businesses at risk of becoming a ‘zombie’ company has risen, as rising costs and challenging economic conditions leave little breathing room for growth, according to new researchfrom accountancy and business advisory firm BDO. In the last 12 months, one in six mid-sized businesses (15.9%) have been deemed to be at risk…
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The dynamism of the UK’s private sector has plunged to its lowest ebb for eight years as bigger firms hit the rocks and new company creation according to research by Cynergy Bank. The Bank’s research draws on latest ONS data finding that in 2024, new company formations plummeted to 306,995, the lowest since at least…
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Small business owners across the are facing a harsh realitywith many are too overworked and financially stretched to take a much-needed holiday, potentially pushing themselves to the brink of burnout. According to new research from InsureandGo, a significant portion of the UK’s 5.51 million small business owners are missing out on holidays to keep their…
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More than a third (38%) of finance brokers say lower taxes are needed to boost SME growth this year, according to iwoca’s latest SME Expert Index. This is double the next choice of reforming business rates (19%). With almost three-quarters (70%) of finance brokers saying conditions for SMEs have worsened since the Labour Government took…
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Consumer confidence in the UK economy has plummeted to an 11-month low, with the British Retail Consortium’s survey revealing a net balance of -37 in February, a decline of 40 points since last summer’s general election. This is the fifth consecutive month in which expectations have worsened. The survey indicates that two-thirds of retailers anticipate…
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According to the Office for National Statistics, inflation jumped to 3% in January, up from 2.5% in December, marking the highest level since March last year. The increase was driven primarily by increases in the cost of transport, food, and non-alcoholic beverages (The Times). Private school fees were also a factor, rising by almost 13…
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Despite promising UK infrastructure investments announced, many small businesses could still be left with unanswered questions following the Chancellor’s speech on growth, leaving many uncertain of their ability to achieve their growth ambitions this year. Research from Simply Asset Finance, which surveyed 500 UK small business owners before and after the Autumn Budget, revealed that…
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