Credit, Collections & Insolvency News
A new report from Euler Hermes has warned that company’s need to prepare for another year of rising insolvencies with based upon the collateral damage of low growth and tightening financial conditions. The report says that in 2018, global insolvencies confirmed an upward trend which started in 2017 after seven consecutive years of sizable declines.…
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Analysis from Equiniti, the FTSE-listed share services and fintech business, of UK Finance statistics shows that continued Brexit uncertainty is having the biggest impact on the smallest businesses in relation to asset based lending and invoice finance borrowing. The figures show that total advances to businesses with a turnover of less than £1 million a…
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Trade credit insurer Atradius has published a new economic research report analysing the impact of a potential trade war on the economies of Southeast Asia. With a trade war seemingly escalating between China and the US, Atradius reports that trade across Southeast Asia has already been moderately impacted, with increased risk aversion in international financial markets. However,…
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After ten years of growth (2008-2018), it has been suggested that we may have reached the peak in the global construction growth cycle: 2018 will be the turning point according to Euler Hermes’ unique proprietary data on millions of companies across 70 countries. Growth in this industry should gradually cool down to +3.0% in 2019,…
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The lack of improvement in the UK’s standing in the World Bank’s latest insolvency rankings underlines the need for UK corporate insolvency reform, says insolvency and restructuring trade body, R3. For the second year running, the UK is at 14th place in the “Resolving Insolvency” table in the World Bank’s Doing Business report (published on 31 October).…
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Bibby Financial Services (BFS) Specialist Director, Kash Ahmad, has been appointed to the board of the Institute of Export and International Trade (IOE&IT). Established in 1935, the IOE&IT is the professional membership body representing and supporting the interests of those involved in importing, exporting and international trade. Ahmad joined BFS in December 2017, following a…
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Suppliers are at risk of having insufficient trade credit insurance as some British firms, such as retailers and manufacturers, stockpile goods amid mounting concerns of a no-deal Brexit, according to Marsh, an insurance broking and risk management solutions specialist Traditionally, buyers purchase goods on credit terms, sell these goods on to the consumer, and use…
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New research from Coface shows that Argentina and Turkey, two countries already hampered by major external imbalances and their dependency on external financing, are experiencing a deepening in their currency crises. Against a backdrop of rapidly tightening credit conditions, Coface has downgraded six of Argentina’s business sectors suffering from a severe downturn in economic activity…
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A third of the 1.1 million UK SMEs with EU suppliers would be unable to operate without imports from the bloc, according to the latest SME Confidence Tracker from independent financial services provider, Bibby Financial Services (BFS). The research news comes as a potential ‘no-deal’ Brexit threatens to disrupt trade between the UK and EU, and…
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More than half (53%) of the medium-sized and large businesses in the UK use a bank for international payments potentially costing them more than £426 million a year in currency costs, according to foreign-exchange and treasury management specialist Centtrip. Centtrip’s survey of 500 medium-sized and large companies has revealed that on average each spent £978,000…
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A new report on the Central and Eastern European region (CEE) by Coface has revealed that the region has seen an increase in insolvencies. The report says that the region has been enjoying the improved economic activity in recent years. This was particularly noticeable in 2017, when the region’s average GDP growth soared to 4.5%…
Read moreThe vast majority (85%) of small firms that operate within European supply chains report being paid late, according to research from the Federation of Small Businesses (FSB). The FSB’s report, ‘Pay it Forward: Lessons and recommendations for Europe from the UK payment landscape’, reveals that despite positive steps, like the introduction of the Late Payment…
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Less businesses in Eastern Europe are offering credit to customers, a report by trade credit insurer Atradius has found. The 2018 edition of the Atradius Payment Practices Barometer for Eastern Europe, reports that the proportion of B2B credit sales in Eastern Europe has decreased from an average of 40.3% in 2017 to 36.9% this year. Businesses in…
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