Credit, Collections & Insolvency News
The IoD Directors’ Economic Confidence Index, which measures business leaders’ optimism in prospects for the UK economy, jumped to -35 in May 2025 from -51 in April – the highest that the Index has been since August 2024 (-12). Business leader’ confidence in their own organisations rose slightly to +15 from +13. In terms of…
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CEOs are adjusting their strategic investment plans as geopolitical, macroeconomic and trade uncertainties continue to disrupt global markets, according to the latest EY-Parthenon CEO Outlook survey. The survey, which was compiled in April following the initial announcement of US trade tariffs, evaluates the optimism levels of 100 UK CEOs. Forty-three per cent of respondents identified geopolitical, macroeconomic…
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British retailers are experiencing their steepest decline in confidence in five years, primarily due to Rachel Reeves’ £26bn tax raid and the uncertainty from Donald Trump’s trade war. According to the Confederation of British Industry (CBI), retail sales have dropped 27% year-on-year from May 2024, with expectations of a further 37% decline in June. Sentiment…
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New research from Uswitch has found that nearly a quarter of entrepreneurs (23%) are pushing back against the use of Artificial Intelligence (AI) in their small businesses. Among the 29% who see AI as a threat, over half (52%) say they fear it could replace their jobs. When asked what’s influencing their stance, 27% of…
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UK inflation rose more than expected to a 15-month high of 3.5 per cent in April, driven by higher household bills, according to the Office for National Statistics (ONS). The rise was up on March’s 2.6 per cent and also higher than the 3.3 per cent figure predicted by analysts Economists stated the increase was…
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Nearly eight in ten (78%) of SMEs are worried about inflation and the cost of living, according to Shawbrook’s latest research amongst senior decision makers, an increase from 69% in 2024. SMEs are particularly concerned about the rising cost of running their business (76%), with three quarters (75%) of decision makers listing economic uncertainty a…
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Latest Office for National Statistics (ONS) data has shown that UK GDP grew 0.2% month-on-month in March, following a 0.5% rise in February meaning that GDP expanded by 0.7% in the first quarter of the year. The increase marks a significant improvement on the 0.1% growth recorded in the closing quarter of 2024 and exceeds…
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The percentage of small businesses that rely on finance or funding to invest in business growth has reached an eight-year high, and those most in need of it are the enterprises predicting significant expansion for the months ahead, according to new research by Novuna Business Finance. The nationwide poll of 1,242 small business owners revealed…
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Latest data from the British Retail Consortium has found that total retail sales increased by 7% year on year in April, against a decline of 4% in April 2024. This was above the 3-month average growth of 2.9% and above the 12-month average growth of 1.4%. For March and April together, compared with the same…
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The latest Business Trends report from BDO, the business advisory and accountancy firm, reveals UK employment has reached a new 12-year low as businesses grapple with rising labour costs and global uncertainty. This drop in the BDO Employment Index signals further cooling of the UK jobs market, with vacancies continuing to decline in Q1 and falling below…
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The Bank of England has cut interest rates from 4.5% to 4.25%. Responding to the announcement, Suren Thiru, ICAEW Economics Director said “This cut in interest rates is a timely shot in the arm for those businesses struggling to adjust to last month’s substantial spike in business costs and households contending with burdensome mortgage costs.…
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The National Debtline and Business Debtline have provided more free debt advice in 2024 than ever before as cost-of-living pressures continued to hit household finances, according to the Money Advice Trust’s latest Impact Report. The charity’s free, independent debt advice services for individuals and small businesses provided six million minutes of debt advice, with 271,900…
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New research from EY. has found that whilst the majority of companies say they have energy-related strategies and targets in place with three in five (62%) say the volatility of costs is already impacting profitability and competitiveness, with 66% concerned about the availability and reliability of energy supply to meet their future needs. The latest…
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