Credit, Collections & Insolvency News
More parts of the economy saw higher activity levels in May, according to the latest UK Sector Tracker from Lloyds. Four of the 14 sectors monitored by the Tracker grew in May – two more than in April. Software services expanded at the fastest pace (55.8), while food and drink manufacturing (51.1) grew for the…
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More than 7,000 British businesses are set to see their electricity bills slashed by up to 25% from 2027, as the Government unveils its new Industrial Strategy. Lowering energy costs for thousands of businesses by exempting them from some green energy levies will be the central part of the refroms. The modern Industrial Strategy sets out a…
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The UK economy is facing considerable domestic and international headwinds that are set to weigh on growth prospects this year and into next, according to the Confederation of British Industry’s (CBI) latest Economic Forecast. While the economy began 2025 on a strong note, our surveys suggest that underlying activity remains sluggish due to persistently weak…
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Latest Office for National Statistics (ONS) data shows that the UK economy shrank by 0.3% in April. This marks a decline on the 0.2% growth recorded in March and is the steepest fall since October 2023. Analysts had forecast a 0.1% decline. The data shows that the services sector contracted by 0.4% while manufacturing dropped…
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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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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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Latest data from the Office of National Statistics (ONS) has shown that inflation fell slightly to 2.6% in March, down from the 2.8% reported in February. Annualised inflation was forecast to come in at 2.7%. Core Inflation (excluding food, energy, alcohol, and tobacco) came in at 4.2% in the 12 months to March, down from…
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The percentage of UK small businesses predicting growth has fallen to a four-year low (29%) – with significant falls in the manufacturing, construction and retail sectors – according to new figures from Novuna Business Finance. Nationally, growth outlook now stands at its lowest level since Q1 2021 (26%), and – if the first lockdown periods…
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A survey by Deloitte has revealed that concerns about geopolitical risks among FTSE 350 finance chiefs were at their highest level since the onset of the Ukraine conflict. Concern has only grown since US President Donald Trump started his trade war., According to the survey, CFOs of the UK’s largest businesses are assuming their most…
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A snap poll of 562 Institute of Directors members following President Trump’s tariffs announcement has found that over a third (37%) of business leaders expect to be impacted by the tariffs and of those, over two-thirds (70%) expect their profits to decrease as a result. In response to the tariffs, 35% of members will be…
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The Chancellor, Rachel Reeves, has delivered her Spring Statement outlining the Government’s economic plans. Responding to the announcement, Policy Chair of the Federation of Small Businesses (FSB), Tina McKenzie, said “Today’s growth figures are a stark reminder of the urgent need to get the economy moving. The whole of Government must now step up and…
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The Chancellor, Rachel Reeves, has delivered her Spring Statement outlining the Government’s economic plans. Responding to the announcement, David Postings, Chief Executive of UK Finance, said “The chancellor’s Spring Statement focused on stability and growth in the UK. We welcome the government’s continued commitment to growing the economy and the financial services sector is committed…
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Chancellor, Rachel Reeves is set to announce 60 measures aimed at reducing regulatory burdens and stimulating economic. With between 100 and 130 regulatory bodies currently in the UK, the Government plans to significantly cut this number. The new ‘radical action plan’ will be published following consultations with regulators, as the Government seeks to address deteriorating…
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