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businesses going insolvent rises

Number of Insolvent Businesses rises in September

The number of businesses in England and Wales that went bust last month was the largest since the pandemic began. The latest Insolvency Service data shows that 1,446 company insolvencies were registered last month. Business...
small businesses need to take debt collection action

Small Business Debt Collection action ‘imperative’

New figures released show that Small Business Debt Collection is needed more than ever. It has long been known that Late Payments threaten the well being of Small Businesses. New invoicing app players 'Tomato Pay'...
SME late payment

The real cost of Small Business late payment

The financial impacts from COVID is forcing many SME's into bankruptcy. One of the major instigators of this is the late payments issue, which has increased by 20% from last year, to £61billion.  As the...
SME's covid support loan repayment

A third of SME’s worried about repaying Covid Support loans

Over a third (35 per cent) of small- and medium-sized enterprises (SMEs) are concerned about their ability to start repaying Covid support loans, research has found. An EY survey of 712 UK SMEs has found...
small business unpaid debt

Unpaid CCJ offers early ‘Insolvency Warning sign’ says new data

New data from the Registry Trust has indicated that 47% of businesses that became insolvent in May and June 2021 had an outstanding county court judgment (CCJ) against them. Whilst 78% of those who...
small business insolvencies

Waves of Small Business Insolvency expected over next few years

As many as 15% of the UK’s SMEs are rated ‘fragile’ and risk insolvency during the next four years as Covid-19 state support schemes are withdrawn, according to research by Euler Hermes. State support softened...
debt collectors called in for the buy now pay later industry

Debt Collection firms targeted via the ‘Buy now, Pay later’ industry

Debt Collection firms that collect monies on behalf of the BNPL (buy now pay later) sector are being targeted. Regulators have been called upon to crack down on ‘buy now, pay later’ companies. A recent...
debt collection in france

Dealing with Debt Collection in France

A Five Step Process to Recovering your Debts in France French debt collection agencies are particularly prevalent due to the country’s strong economic dependence on Small Businesses and Medium enterprises. Recovering business-to-business debts (B2B) takes...
business late payment

Industry Experts reject ‘Insolvency tsunami’ claims

Forecasts predicting an impending “tsunami” of corporate insolvencies are alarmist, though the need for ongoing alertness remains, according to UK insolvency specialists. Government support measures have allowed insolvency levels to remain stable amid the pandemic, but recent...
Surge in business insolvencies

UK sees worrying surge in Business insolvencies

Latest quarterly figures from the Insolvency Service have indicated that business insolvency numbers across England & Wales were 31% higher than in Q1 2021 and 4% higher than in Q2 2020. There were 3,116 seasonally...