UK debt collections

NOVEMBER 4, 2021

The data shows that an astonishing 70% of SME’s and Small businesses are suffering from late payments from their customers. Time finance, a finance provider found that late payment debt was sometimes as high as £200,000 for 1 in 5 small business owners. This is unacceptable.

Collection Agencies 100

Collection Agencies Collections Agency Government Collections 100

UK debt collections

NOVEMBER 25, 2022

The worst sectors for late payment are named and shamed in new ports. The reports looks at the late payment practices of different business sectors in 2022. In fact, Electronics has seen significant regression, with late payments up by 46% from 2021. But we still have a long way to go.

Banks 79

Banks 79

UK debt collections

JANUARY 10, 2022

UK’s Small Businesses are under serious threat and must act now according to one industry expert. It has been reported that 440,000 Small Businesses in the UK could be forced out of Business by a current late payment crisis. The pandemic has made matters worse.

Collections 81

Collections Government Collection Agencies Collections Agency 81

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.

Collection Agencies 89

Collection Agencies Collections Agency Collections Government 89

UK debt collections

JUNE 23, 2022

Small Business Debt Recovery is becoming more important to cash flow as a UK recession looms. Flash estimates of the UK economy’s performance in June showed Small Business optimism is at its lowest point since the out break of the pandemic.

Debt Recovery 72

Debt Recovery Manufacturing Government Collections 72

UK debt collections

DECEMBER 14, 2023

Latest Office for National Statistics (ONS) figures show that alarmingly, businesses closing has outpaced openings for the first time since 2010. Rise in UK Businesses closing The rise in running costs has seen a surge of businesses closing across the UK.

Retail 64

Retail Construction Banks 64

UK debt collections

OCTOBER 31, 2022

With the UK economy likely to fall into a recession, small business late payments were made on average 8.2 This is the highest small business late payment time since August 2020 according to the latest data from Xero, the global small business accounting platform.

Manufacturing 59

Manufacturing Retail Construction Government 59

UK debt collections

NOVEMBER 29, 2023

Late paying contractors are to be prevented from procuring government contracts under new proposed legislation. This initiative is a major effort to prevent late paying contractors which blight the UK economy. Public sector work invoices must be paid within 30 days, as well as small suppliers, per the Prompt Payment Code.

Government 59

Government Collection Agencies Collections Agency Collections 59

UK debt collections

FEBRUARY 16, 2024

With a recession comes more late payment of invoices and overdue accounts. It certainly does not benefit the Business debt collection field and personal debt collection also becomes more challenging. It certainly does not benefit the Business debt collection field and personal debt collection also becomes more challenging.

Collections 79

Collections Collection Agencies Collections Agency Construction 79

UK debt collections

AUGUST 3, 2022

The latest survey and research undertaken the the Federation of Small Businesses shows late payment is worse than ever. A survey of 1,300 Small Businesses and sole traders showed that half of SME’s are dealing with late payment for the quarter April to June 2022.

Startups 59

Startups Collections 59

UK debt collections

AUGUST 5, 2022

Businesses are being urged to take action to collect unpaid invoices as a new UK recession in on the horizon. The latest setback fro the UK economy has been touted as the “final straw” for thousands of small businesses across the country. It also has predicted that inflation would surpass 13%.

Collections 52

Collections Banks Government Collection Agencies 52

UK debt collections

NOVEMBER 29, 2021

Late payments are threatening the survival of British businesses. Uncovering the shocking impact of late payments, analysis has found that challenges with cashflow and restricted growth ambitions were the direct effects of unpaid invoices. Late Payment culture. If one is stunted, so is the other.

Collection Agencies 59

Collection Agencies Collections Agency Collections 59

UK debt collections

JUNE 9, 2022

As the UK’s economic situation continues to deteriorate, businesses in Yorkshire face a front-line battle against invoice late payment. Many Yorkshire based Businesses are starting to show signs of increasing financial problems. Yorkshire is the biggest county in the UK.

Collection Agencies 75

Collection Agencies Collections Agency Collections Trade 75

UK debt collections

OCTOBER 23, 2020

However, according to Know-it, a cloud-based credit management platform, while the changes are welcome and will provide the small and medium-sized enterprise (SME) sector with some much-needed support, more is needed to unravel the culture of late payments across the supply chain.

Credit Management 86

Credit Management Government Collections 86

UK debt collections

APRIL 16, 2021

New data captured has shown that 48% of Businesses have seen an increase in late payment. The New data supplied from cloud-based credit management platform, Know-it highlights that late payments remain an ever-present challenge for business owners.

Credit Management 80

Credit Management Debtor Trade Collections 80

UK debt collections

OCTOBER 18, 2022

New research shows that half of invoices issued by small businesses are paid late. Small businesses have long suffered from suppliers paying them late , but mounting economic challenges including rising inflation and the falling value of the pound are only serving to aggravate the problem.

Government 59

Government Collections Creditors 59

CICM

DECEMBER 1, 2022

Only 5% of the 5,158 UK’s largest companies that report payment terms have qualified for the 2022 award from Good Business Pays. The award recognises big businesses that pay at least 95 per cent of their invoices on time and within 27 days or less, over the last 12 months.

Manufacturing 40

Manufacturing Banks Credit Management Financial services 40

UK debt collections

NOVEMBER 15, 2023

Uk Business insolvency is officially on the rise. The latest figures from the Insolvency Service have shown that the number of business insolvencies in England & Wales for October 2023 was 2,315, 18% higher than in the same month in the previous year (1,954 in October 2022). Businesses are being battered from all sides.

Government 59

Government Trade Retail Creditors 59

UK debt collections

JUNE 21, 2022

International Business late payment is expected to rise across Europe according to latest research. A survey conducted by Intrum AB of 11,000 European companies predicts that Businesses are expecting late payments to rise. The rise is expected due to rising inflation, fuel costs and interest rates.

Collection Agencies 64

Collection Agencies Collections Agency Collections Trade 64

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. Two, you now have the problem of chasing up payment which incurs costs and resources in its self.

Collection Agencies 75

Collection Agencies Collections Agency Collections Debt Recovery 75

UK debt collections

MAY 23, 2022

Trade Credit insurers Allianz Trade have predicted that Business insolvencies will skyrocket. This would see the UK become the first big European economy to reach pre-pandemic levels of corporate insolvencies. Research suggests the dramatic rise in Business insolvencies will be driven by various factors.

Trade 59

Trade Construction Government 59

UK debt collections

DECEMBER 15, 2021

Leading UK Insolvency Experts Begbies Traynor have reported of a increase use of their services. The Insolvency Firm which assists financially struggling businesses to recover saw revenue increase by 39% from 37.5m Thousands of small businesses go bust every year by not taking direct action. up to the 31st October 2021.

Acquisition 52

Acquisition Government Collection Agencies Collections Agency 52

UK debt collections

JANUARY 17, 2022

Brexit combined with the coronavirus pandemic has created a double-edged sword for businesses in the UK. It is claimed that its full-scale impact is yet to be fully realised with Economists from Atradius suggesting that UK Business insolvencies will rise by a staggering 33%.

Trade 64

Trade Manufacturing Retail Collections 64

On Guard

MARCH 7, 2022

How can companies avoid payment pitfalls and lower their DSO in times of economic uncertainty? When it comes to late payments, prevention is always better than a cure. So how can companies avoid payment pitfalls and lower their DSO? So how can companies avoid payment pitfalls and lower their DSO?

Credit Management 52

Credit Management 52

On Guard

FEBRUARY 17, 2022

According to research, 48% of invoices issued by small businesses in the UK are paid past their due date, being paid on average 14 days late. With uncertainty hanging over the economy now and in the coming months, there are measures that managers can take to get paid faster.”. Taking out credit insurance.

Creditworthiness 52

Creditworthiness Credit Management Collection Agencies Collections Agency 52

UK debt collections

NOVEMBER 9, 2023

Small business owners have revealed that cash flow is the biggest challenge for nearly half of the respondents. Almost half (48%) of small to medium enterprises cited cash flow as the largest single challenge their business was facing, according to research by Millbrook Business Finance.

Government 89

Government Loans Debtor Collections 89

UK debt collections

JULY 20, 2022

Almost half of all Small Business owners on the UK are said to be increasing prices to combat rising costs and increasing late payments. The SME Insights Report, released by Simply Business, one of the UK’s biggest small business insurance providers, saw over 1,000 small business owners from across the UK surveyed.

Collections 59

Collections 59

UK debt collections

FEBRUARY 16, 2022

Small Business Debt Collection has never been more important as the UK economy continues to recover from the pandemic. Regardless of the damage covid has caused, the problem of small businesses not getting paid is nothing new. Small Business Debt Collection is growing across the UK.

Collections 93

Collections Collection Agencies Collections Agency Creditors 93

UK debt collections

JANUARY 20, 2022

NEARLY three quarters (72 per cent) of small or medium enterprises (SMEs) across Scotland are currently waiting on late payments from customers, according to new research from Barclays surveying 500 UK small business owners. This is significantly higher than the UK average of 58 per cent.

Collection Agencies 59

Collection Agencies Collections Agency Banks Government 59

UK debt collections

SEPTEMBER 4, 2020

The latest research shows that the majority of Businesses (SME’s) in the UK are being paid late as a result of the pandemic. This underhand business practice is threatening the recovery of the Economy according to findings by Bibby Financial Services. There are 5.9m

Financial services 63

Financial services Loans Collections 63

Troutman Sanders

NOVEMBER 7, 2023

Consumers who did not pay the fee had to wait up to three business days for their advances. On November 1, the UK Financial Conduct Authority (FCA) finalized guidance on the communication and promotion of cryptoassets. expanding on the Biden-Harris administration’s agenda to advance equity and build an inclusive economy.

Financial services 52

Financial services Debt collector Loans Foreclosure 52