Credit, Collections & Insolvency News
Business confidence rose 11 points to 55% in March, driven mainly by smaller firms, according to the latest Lloyds Business Barometer. The survey, conducted from March 2nd-16th, showed that over 90% of responses came in the first week, before the potential impact of Middle Eastern conflict affected smaller businesses. Larger firms exhibited less optimism, reflecting…
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Business energy costs are set to soar, with electricity bills increasing by an average of 10% to 30% since late February, depending on the sector and the size of the organisation. Gas price rises are steeper still, with Cornwall Insight forecasts showing bill increases of between 25% and 80%, as the ongoing conflict in the…
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UK inflation remained at 3% in February, according to the latest data from the Office for National Statistics (ONS). On a monthly basis, CPI rose by 0.4% in February 2026, the same rate as in February 2025. Clothing made the largest upward contribution to the monthly change to CPI annual rates; motor fuels made the…
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The Government has announced new legislation which is designed to protect small businesses and aims to ensure that companies pay suppliers within 60 days, with late payments potentially triggering fines. Boards must also detail payment terms in their audit reports. Under the new plans, the Small Business Commissioner will be given sweeping new powers to…
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Two in three UK small businesses (67%) are working on plans to strengthen and grow over the spring months, although plans to hire new staff (14%) have hit a new five-year low, according to new research from Novuna Business Finance Whilst 84% of small businesses started 2026 with hopes to grow their enterprises during the…
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The economy showed no growth in January, according to the Office for National Statistics (ONS). The ongoing Middle East crisis has driven up energy prices, raising inflation concerns and diminishing hopes for an interest rate cut from the Bank of England. Chancellor Rachel Reeves is expected to outline Labour’s economic strategy amid calls for an…
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Nearly 40% of commercial mortgage brokers have reported an increase in applications in the second half of 2025, while a further 30% said applications remained stable, pointing to resilient momentum despite a challenging economic backdrop, according to new research by Allica. Rising demand was driven primarily by businesses seeking to purchase their own premises (44%),…
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A bounce in services sector activity pushed UK business output to its highest level in a year, according to the latest Business Trends report from accountancy and advisory firm BDO. BDO’s Output Index, which measures activity across key sectors in the UK economy, increased to 98.80 in February, up from 97.67 the previous month. This…
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One in seven high street businesses has transitioned to cashless payments in the past year, according to a survey by ATM and cash access network Link. The research revealed that 77% still accept cash. Despite this shift, 46% of in-person transactions remain cash-based. The biggest driver to becoming a ‘cashless’ business was fraud prevention (22%) followed…
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New research from Paragon Bank has shown that SMEs are rapidly adopting Artificial Intelligence (AI), with half of businesses (50%) saying they are likely to replace some staff roles with AI or other technology‑based solutions. One in four (24%) SME leaders have no plans to reduce headcount through AI, while the remainder remain uncertain about…
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The Chancellor, Rachel Reeves, has delivered her Spring Statement outlining the Government’s economic plans. The data showed public sector net borrowing set to fall from 4.3% this year, decreasing to 1.8% in 2029–30. The Office for Budget Responsibility lowers growth forecasts to 1.1% for 2026 but upgrades the outlook in 2027 and 2028 to 1.6%.…
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The IoD Directors’ Economic Confidence Index, which measures business leaders’ optimism about prospects for the UK economy, dropped back to -63 in February 2026, from -48 in January. Business leaders’ confidence in their own organisations also fell, to +1 in February from +14 in January. There were also declines in many of the underlying indicators,…
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Late payments are forcing an estimated 14,000 businesses to close every year, equivalent to 38 closures every single day, as cash-strapped firms struggle to survive unpaid invoices, according to new analysis from Funding Circle. Construction is the sector most exposed, with over 2,100 firms estimated to have closed in 2024 due to delayed payments, driven by…
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