Trade Body calls on Government to improve its Debt Collection methods
In a new report, the Credit Services Association (CSA), the UK trade body for the debt collection and debt purchase sector, has called on the Government to improve its debt collection methods for collecting...
Late Payments identified as top cause of Cash Flow issues for SMEs
Late payments are the primary culprit for causing cash flow problems for businesses according to two fifths (41%) of UK small and medium-sized enterprises (SMEs) while making sure the bills are paid was an...
Company Insolvencies drop by 5% for the year 2024
Annual figures from the Insolvency Service have shown that there were 23,872 registered company insolvencies in England and Wales in 2024 a fall of 5.1% from 2023’s figure of 25,163.The company insolvencies comprised of...
Gin Company seen on Dragons Den, collapses with Business debts
Didsbury Gin was founded by best friends and gin lovers Liam Manton and Mark Smallwood in 2017, who according to the brand’s website, wanted to ‘take gin to the next level’.A year after founding...
Self Employed Tradespeople owed £3.5Bn in Late Payments
BILLIONS of pounds in late payments are owed to self employed tradespeople across the UK, according to new research from Ford Pro.The vehicle manufacturer’s research found delayed or missing payments to tradespeople was reported...
Famous Training College forced into Liquidation
An internationally recognised boatbuilding training college is set to close its doors in Suffolk for the final time as it heads into liquidation.The award-winning International Boatbuilding Training College (IBTC) has been based on the edge of The Broads...
Commercial Late Payment to be tackled by Government’s Fair Payment Code
The Government has announced the launch of a new Fair Payment Code aimed at tackling late payments, with research showing that SMEs are on average owed £22,000 a year. It comes on top of an...
Number of Insolvent Businesses decreases by 10%
Latest figures from the Insolvency Service have shown that the number of business insolvencies in England and Wales was 1,747 in October 2024, 10% lower than in September 2024 (1,950) and 24% lower than the...
Council To Review £20m Debt Recovery Headache
Dudley Council is chasing an eye-watering £20m in unpaid debts owed for more than three months despite battling a financial black hole.
The authority is currently working to balance the books ahead of next year’s...
Large rise in Logistics Company Insolvencies
Research by Forvis Mazars has found that insolvencies of logistics companies’ have risen 14% in the past year, from 464 in 2022/23 to 530 in 2023/24.Many logistics businesses were set up during the pandemic...
