Credit, Collections & Insolvency News
The IoD Directors’ Economic Confidence Index, which measures business leader optimism in prospects for the UK economy, leapt upwards to -14 in January 2024, up from -28 in December 2023. This represents the Index’s highest value since May 2023 (-6) and the biggest jump in a single month (+14) since this time last year (+30).…
Read more
The IoD Directors’ Economic Confidence Index, which measures business leader optimism in prospects for the UK economy, remained subdued at -25 in October 2023, similar to September’s reading of -26. This is the fifth consecutive month in which economic confidence has been relatively low, following a large drop in June. However, there were some more…
Read more
Small companies have been left with “nowhere to turn for justice” during banking disputes following a decision not to extend the reach of the Financial Ombudsman Service, according to an Federation of Small Businesses. The Financial Conduct Authority (FCA) has decided that it would not be proportionate to provide access to the ombudsman’s dispute resolution…
Read moreThe British Business Bank (BBB), the Government’s economic development agency, reported a loss of £135 million in the year to March. The bank, which supports investments in SMEs, was affected by a drop in valuations across its portfolio. Despite this, the bank’s performance remained ahead of expectations. Louis Taylor, CEO, British Business Bank, said: “The British Business…
Read more
UK-listed companies issued 66 profit warnings between April and June 2023, marking the highest second quarter total in three years, according to EY-Parthenon’s latest Profit Warnings report. The report found that warnings from UK-listed companies have risen year-on-year for the seventh consecutive quarter, the longest run of consecutive quarterly increases since 2008. The highest number of…
Read more
UK-listed companies issued 75 profit warnings between January and March 2023, the highest first-quarter total since the early stages of the pandemic in 2020, according to EY-Parthenon’s latest Profit Warnings report. The report reveals that the number of warnings issued in the first quarter of 2023 exceeded the 72 issued in Q1 2022 and that…
Read more
Business confidence in the UK has returned to positive territory for the first time in a year but remains fragile amid a backdrop of economic volatility, a survey of business leaders has found. Sentiment tracked by ICAEW’s Business Confidence Monitor (BCM) – one of the largest and most comprehensive quarterly surveys of UK business activity…
Read more
Almost two-thirds (65%) of UK retail business owners report that the rising cost of living has made running their business harder, with nine out of ten (87%) of those businesses saying it has been the “toughest winter in memory” for their business according to a new poll by Santander. The data revealed the biggest challenges…
Read more
The Institute of Directors’ (IoD) Economic Confidence Index, which measures business leader optimism in prospects for the UK economy, rose to -17 in February 2023, up from -28 the previous month and a near-record low of -64 in November. Confidence in the UK economy is now similar to the time of the Omicron restrictions in…
Read more
Businesses reported a fall in confidence this month, declining three points to 25%, according to the latest Lloyds Bank Business Barometer. The research puts confidence below the long-term average (28%) for the first time since March 2021 when the economy emerged from the second Covid19 wave. Despite the more challenging outlook, businesses’ assessment of their…
Read more
Data from PwC show the number of UK firms filing for insolvency in the first quarter was broadly similar to the same period in 2021. However, the analysts show that when the smallest firms and companies that were liquidated when solvent are stripped out, the figures show those filing while insolvent more than doubled in…
Read more
Seven in ten small businesses (70%) that predict significant growth in the next three-month say they will have to put plans on hold if they were unable to secure finance. Access to finance and borrowing is also urgently needed by small businesses most affected by COVID – those that either had to close or repurpose…
Read more
Close to half of small firms do not expect to grow over the coming year amid a cost-of-doing-business crisis and widening sectoral optimism gap, according to the latest SBI from the Federation of Small Businesses (FSB). The headline SBI UK confidence reading stands at +15.3 for Q1 2022, meaning more small business owners expect an…
Read more