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'...
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...
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...
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 (unpaid CCJ) against them. Whilst 78% of those...
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the UK’s SMEs are rated ‘fragile’ and risk insolvency during the next four years as Covid-19 state support schemes are withdrawn, according to research by Euler Hermes.State support softened...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 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...
Dealing with Debt Collection in France
A Five Step Process to Recovering your Debts in FranceFrench 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...
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...
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...
Small Business Unpaid Invoices creating a struggle for many
Small business owners have been coping with unpaid invoices and inadequate accounting during the pandemic and needed to cover expenses by selling family heirlooms and other valuables.A survey released Tuesday by Wave, an H&R...
