A debt recovery agency is a lifeline to many businesses. With late payments for small businesses hitting a two-year high and against the backdrop of soaring company insolvencies there’s never been a more critical time for businesses to successfully recover their unpaid invoices. As a business there are a few things to weigh up …
How A Debt Recovery Agency Can Get Your Invoices Paid Faster Read More »
The total number of company insolvencies registered in England, Scotland & Wales in 2022 was 23,180 — the highest since 2009 and 56 per cent higher than 2021. According to research, over 100 firms in the construction sector could collapse each week. The construction industry is being decimated by bad debt, currently sitting at approximately …
UK Construction Industry At Risk of Failing At Fastest Rate Since Financial Crisis Read More »
The huge swathe of corporate insolvencies we seen throughout 2022 are continuing to wreak havoc for businesses across the UK. The Office for National Statistics (ONS) have just released the monthly insolvency statistics for December 2022 and they make for some stark reading, with the number of corporate insolvencies recorded for the month across England, …
The Armageddon of corporate insolvencies we’ve witnessed all year shows no sign of slowing down, after some frightening statistics were shared from the month of November. 2,029 company insolvencies were registered in England and Wales last month, an increase of 21% year on year and 35% higher than pre-pandemic levels! The scene in Scotland paints …
The number of overdue invoices in Scotland hit a 2022 high between August and October this year with more than 100,000 companies failing to pay on time. An analysis of Creditsafe data has revealed 593,114 invoices in Scotland went unpaid past their deadline, 13,941 (2.4%) more than September’s figure of 579,173. It is not just …
Number of Overdue Invoices Hit A Record High in Scotland Read More »
Company insolvency figures for October have been released and they are quite frankly, frightening. The number of company insolvencies in England and Wales last month were 38% higher than October 2021 and 32% higher than pre-pandemic levels, with 1,948 companies filing for insolvency. The 242 compulsory liquidations reported in October this year were a staggering …
The latest company insolvency statistics have revealed registered company insolvencies are 16% higher year on year and 11% higher than pre-pandemic levels, in England and Wales with 1,679 company insolvencies recorded in September. The picture in Scotland is even bleaker with company insolvencies spiking 47% compared to September 2021 and 36% higher than pre-pandemic levels …
Company insolvency figures for August 2022 have just been released and they paint a bleak picture. Company insolvencies in England and Wales were 43% higher year on year and 42% higher than pre-pandemic levels. Creditors’ Voluntary Liquidations (CVLs) have had a huge impact on the number of company insolvencies having risen 33% compared to August …
The number of company insolvencies are soaring once again as July’s insolvency figures have just been released, continuing the trend of rising insolvencies. In England and Wales, the number of company insolvencies have rocketed 67% year on year to 1,827. What is also alarming is the fact that they are 27% higher than the number …
There’s never been a more critical time to make sure your business credit score is in the best shape possible. With costs spiralling and the value of unpaid invoices rocketing by over 20% it is vital for companies to get to grips with their credit file and ensure they can get the best possible supplier …
The Importance of Building Your Business Credit Score Read More »
