Credit, Collections & Insolvency News
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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Barclays has published new policy recommendations urging the UK government to take further action to support the nation’s exporters, particularly smaller businesses. The analysis draws on proprietary data covering current and potential future exporters, alongside the bank’s own in‑house expertise and long-standing experience supporting UK firms trading internationally. This work comes at a time when…
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Late payments are increasingly undermining the stability of UK SMEs, threatening payroll, job security and growth potential, according to new research by Bibby Financial Services (BFS), with the data showing that late payments from customers prevented more than two-fifths (42%) of SMEs from paying staff salaries on time in the last 12 months. Meanwhile, nearly…
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More than three in four small business owners (78%) say business worries keep them awake at night – as concerns over economic volatility and geopolitical uncertainty reach a record high (52%) – according to new research from Novuna Business Finance. Compared to the position two-years ago, the biggest rises in business owner concerns related to…
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Latest data from Barclays has revealed diverging behaviour, with larger firms increasing longer-term lending and smaller firms relying more on shorter-term liquidity financing in the last quarter of 2025. While economic uncertainty remains the greatest challenge businesses are facing, confidence in the UK is resilient. Six in ten (58 per cent) back the home market…
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