economy small-business-going-bust 
UK debt collections
FEBRUARY 16, 2024
It certainly does not benefit the Business debt collection field and personal debt collection also becomes more challenging. A recession produces a fragile economy that has its own jeopardy for the debt collection industry. The rise in Business insolvencies also means a spike in job losses.
UK debt collections
MARCH 5, 2024
UK Business insolvency could increase by 10% this year, according to research by Allianz. The insurer’s global insolvency outlook revealed that 15% of small and medium-sized businesses in the UK are at risk of going bust, the highest proportion in Europe.
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UK debt collections
JUNE 1, 2022
Debt Collection Agencies could help save thousands of Small Businesses in the UK it is claimed. Almost 500,000 Small Businesses and SME’s in the UK are facing the real prospect of going bust. Recent reports and research make for very bleak reading for the country’s Small Business community.
UK debt collections
JUNE 9, 2020
A Commercial ‘Credit Crunch’ is predicted as the UK’s Small Business community are facing up to increasing Unpaid Invoices. Research by Business Funding Experts Iwoca has found that 40% of Small Businesses are facing Debts of over £10,000. reported owing between £20,000 – £50,000.
UK debt collections
DECEMBER 15, 2021
The Insolvency Firm which assists financially struggling businesses to recover saw revenue increase by 39% from 37.5m Temporary measures were introduced in to protect businesses from insolvency during the pandemic and were phased out from the 1st of October. Thousands of small businesses go bust every year by not taking direct action.
UK debt collections
MAY 4, 2021
The UK’s SME Businesses are suffering as a result of late payments. Covid-19 has fuelled the problem and many small businesses and medium sized enterprises are facing going bust. Over half of UK Businesses are suffering with exacerbated late payment as a result of covid-19.
Collection Industry News
DECEMBER 1, 2022
More than 16,000 businesses which took out a type of government-backed Covid loan have gone bust without paying the money back, the BBC has found. The cost to the taxpayer of these insolvencies could be as much as £500m, and is likely to grow as more companies go under. million loans worth £47bn were handed out.
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