Credit, Collections & Insolvency News
More companies across England and Wales are opting for voluntary rather than compulsory liquidation because of rising Government costs, an insolvency expert has said. The Insolvency Service’s report, published by the Government, showed company insolvencies increased slightly in Q3 2019 compared with Q2 2019. According to the report, the increase was primarily driven by a rise…
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Bank lending to small and medium sized (SME) retailers in the UK has fallen 6% from £15.6 billion to £14.7 billion since the Brexit vote in 2016, meanwhile large retailers have benefited from a sharp rise in bank lending, says accountants and business advisors, Moore. Over the same period that lending to SME retailers has…
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Set against a backdrop of unprecedented change – British small businesses are remaining stoic and are facing the next three months with renewed focus and a determination to succeed. New research from Hitachi Capital Business Finance shows that for the sixth consecutive quarter confidence levels have varied only by 1%, with the number of businesses…
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The number of manufacturing businesses entering insolvency has hit a five-year high rising 7% to 1,466 in the last year (to 30 September 2019) up from 1,373 the previous year, says chartered accountants and business advisors, Moore. Moore says that the rise in manufacturing businesses going insolvent is being driven in part by Brexit-related uncertainty…
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Over half (54%) of the UK’s SMEs, equating to 3.1 million businesses, admit they had not prepared in any way for Brexit ahead of the 31 October deadline according to the latest Q3 SME Confidence Tracker from Bibby Financial Services. Fewer SMEs are investing and the amount they are investing on average has also fallen.…
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Over a third (36%) of Europe’s CFOs feel more pessimistic about their companies’ financial prospects than they did three months ago, according to Deloitte European CFO Survey. This percentage has doubled since the first survey in spring 2015, when the figure stood at 18%. Fewer than one in five CFOs (18%) consider now to be…
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A new report by trade credit insurer Atradius has revealed the top trading risks within Eastern Europe’s major markets. The report reveals that despite the end of a technical recession in Turkey, economic growth is forecast to level off this year (0.1%) and a 10% increase in business insolvencies is expected. Payment delays and default risks…
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David Capdevila appointed new Chief Executive Officer (CEO) of Atradius N.V. From January 2020, Capdevila will replace Isidoro Unda who has announced his departure after 12 years as the insurance company’s Chief Executive Officer. The Chairman of Grupo Catalana Occidente (the Group owner of Atradius), José María Serra, thanked Isidoro Unda for his dedication throughout…
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Sales on credit are on the up despite the prevailing economic challenges as UK businesses strive to appear more attractive to potential customers, reveals the latest economic report by trade credit insurer Atradius. The Western Europe Payment Practices Barometer research report by Atradius found offering credit was being used by UK firms as a tool…
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A new trade credit report focused on South Africa by Atradius has highlighted a rise in business insolvencies with an increase of 30% year-on-year to March 2019. With a subdued performance in manufacturing and mining alongside a struggling consumer sector, linked to weaker household spending, it is expected insolvencies will increase further. The report analyses…
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Chief Finance Officers (CFOs) are intensifying their focus on cost control, with 58% saying it is a strong priority for the next 12 months, according to Deloitte’s latest CFO Survey. This is the highest level for ten years. Almost two-thirds of CFOs (65%) say their business faces high or very high levels of external financial…
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SMEs are least likely to invest in their businesses during the remainder of 2019 according to the latest Global Business Monitor from Bibby Financial Services (BFS) and trade credit insurer, Euler Hermes. The report offers insight into the opportunities and threats faced by SMEs worldwide, based on a survey of businesses across 13 regions, with…
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One third (33%) of UK businesses are concerned about the potential impact Brexit will have on their suppliers and customers, according to new research from R3, the insolvency and restructuring body. The research, a survey of 1,200 senior business financial decision-makers, carried out for R3 by BVA BDRC, found that 11% of businesses have reviewed…
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