Trade Credit Solutions Ltd

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The UK retail sector presents considerable challenges, yet glimpses of recovery are emerging.

Tokio Marine HCC’s latest Trade Credit UK Retail Sector Report, featuring insights from Fiona O’Brien, Senior Credit Underwriter – Trade Credit, underscores the profound shifts the sector has undergone in the past decade. The report paints a picture of the industry’s current landscape, with insolvency rates surpassing pre-Covid levels and showing an upward trend. As […]

Macroeconomic pressures drove CEE insolvency rates to new heights in 2023.

Coface has published a new report analysing company insolvencies in the Central and Eastern European (CEE) region. Coface notes that, in the wake of an economic downturn that saw Czechia, Estonia, Hungary, Latvia and Lithuania recorded negative growth rates in 2023, CEE countries witnessed a dramatic 38.6% increase in insolvency proceedings from 2022 to 2023. […]

Atradius reveals significant increases in payment defaults for many cornerstone industries.

Although Atradius’ report on payment default trends for Q1 2024 reveals a decrease of 18% in the number of claims received from UK businesses compared to the same period in 2023, the report also highlights significant increases in payment defaults within several cornerstone industries. For instance, the energy and fuel sector experienced a 75% increase […]

Accessing finance is becoming more difficult for UK SMEs.

According to new data from the British Chambers of Commerce (BCC) Insights Unit, accessing finance is becoming more difficult for a large number of UK SMEs. 49% of businesses surveyed who accessed finance felt that getting funding had become more challenging over the past three years. Only 13% said it was getting easier. The BCC’s […]

UK retailers report six months of negative sales.

According to new data from BDO’s High Street Sales Tracker, total UK in-store and online sales fell by 2.2% in March, marking the sixth consecutive month of negative sales results – the longest consecutive period of negative growth outside of the COVID-19 pandemic. BDO’s data, which looks at sales across discretionary spend categories, highlighted that in-store sales […]

UK manufacturing faces anaemic growth for the next two years.

UK manufacturers are facing the prospect of two years of anaemic growth, with the latest forecasts suggesting the sector will remain flat this year (0.1% growth) and grow by just half the rate of the economy overall in 2025. However, although the Q1 Manufacturing Outlook survey published by Make UK and BDO suggests that the […]

UK company insolvencies in March 2024 were 17% higher than the same month in 2023.

New data from Creditsafe has found that 2,598 companies in the UK became insolvent in March 2024 – a slight decrease compared to February and an increase of 17% compared to the same month in 2023. 17% of insolvencies in March came from within the UK construction sector. Creditsafe suggests that two sectors with traditionally […]

Cashflow remains a major challenge for UK SMEs.

Data from Bibby Financial Services’ (BFS) Q1 2024 SME Confidence Tracker reveals that ongoing interest rate levels and political uncertainty are holding back many businesses from investing in the long-term business growth the economy needs. UK corporate insolvency rates hit a 30-year high in 2023 as 25,158 businesses “fell foul of high costs and tough […]

On average, 51% of UK firms are paid after the invoice due date.

According to research by Taulia, although late payments gradually declined between 2016 and 2019, that trend has now reversed. According to Taulia’s Supplier Survey, this year over half (51%) of the suppliers polled reported that, on average, they receive payments late from their buyers – up from 50% last year and 36% in 2021. Over […]

Around 31,000 UK businesses are expected to fail in 2024.

According to Allianz Trade’s latest Global Insolvency Outlook, ahead of an expected recovery in 2025, UK businesses must first navigate a year of geopolitical and economic uncertainty and a heightened risk of non-payment as insolvency rates peak at a 15-year record. Around 31,000 UK businesses are expected to fail in 2024, a 10% increase from […]

The UK is turning a corner, but company insolvencies are still rising.

Coface has published an article in which Andrew Share, Director of Business Information at Coface, explains why businesses can’t afford to let their guard down. Andrew notes that there has been a welcome outbreak of positive economic news this month; according to the latest forecasts by the Office for Budget Responsibility, the UK economy will […]

Main contractor trade credit insurance hits crisis point.

Construction Enquirer has reported that “jittery insurers are pulling trade credit insurance cover on some of the country’s leading contractors.” Construction Enquirer comments that it has been contacted by several subcontractors and suppliers in recent weeks who warn that they are unable to obtain cover on some of the industry’s biggest names. The nervous state of the market […]

UK businesses face ongoing economic pressure.

Allianz Trade’s latest Risk Barometer forecasts 2024 GDP growth of +0.6% in the UK (compared with +1.4% in the US and +0.8% in the Eurozone) and predicts that UK business insolvencies will grow +5% in 2024 and will be 35% higher this year than in 2019. Although compared with pre-pandemic times, Allianz Trade feels that […]

AU Group warns that business failures are making a “serious comeback”.

AU Group’s latest G-Grade for Q1 2024 warns that, after two years of strong post-COVID growth (2021 and 2022) and a global economy boosted by various governments’ support, 2023 was the year of a return to reality. “The debts incurred during the crisis have to be repaid, and there has been a catchup of insolvencies.” […]

31% of UK business owners fear closure by the end of 2024.

New research by Novuna has found that 31% of UK business owners anticipate the potential closure of their businesses by the end of 2024. The findings also shed light on the challenges leading to possible business closures. Since the last budget announcement in November 2023, 46% of businesses reported declining demand for their products or […]

Corporate insolvencies in January increased by 5% compared to January 2023.

The latest data from the Insolvency Service indicates that corporate insolvencies in England and Wales decreased by 11.8% in January 2024 to 1,769 (from a total of 2,005 in December 2023) but increased by 5% compared to January 2023’s total of 1,685. Nicky Fisher, President of R3, commented: “January 2024 saw the highest corporate insolvency […]

41% of UK small businesses say late payments from other companies have impacted their growth.

A new survey by Goldman Sachs has found that 41% of its UK respondents say late payments from other companies has affected their growth, and a majority (89%) say they would support tougher legislation for big businesses on late payments. Goldman Sachs’ report, ‘The Small Business Manifesto’, notes that the ‘late payments crisis’ disproportionately impacts SMEs […]

Five false facts about trade credit insurance.

Coface has published an article that examines and debunks some of the top false facts about credit insurance. The list includes: “Managing credit risk inhibits sales”; “Why on earth should I sign up to credit insurance? I know my clients really well . . . and for a long time!”; “Fraudsters only target large companies”; […]

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UK company insolvencies in Q3 2021 were 43% higher than in Q3 2020.

Latest data from the Insolvency Service has indicated that, after seasonal adjustment, in Q3 2021 the number of company insolvencies was 17% higher than in Q2 and 43% higher than in Q3 2020. This was driven by an increase in creditors’ voluntary liquidations (CVLs) to the highest quarterly level since Q2 2009. One in 341 active […]

Corporate insolvencies increased by 55.8% in September 2021 compared to September 2020.

The Insolvency Service’s latest September 2021 corporate insolvency statistics for England and Wales found that corporate insolvencies increased by 7.2% (to 1446) in September 2021 compared to August’s figure, and increased by 55.8% compared to September 2020’s figure of 928. The increase was driven by a rise in Creditors’ Voluntary Liquidations, which increased for the […]

The number of UK corporate insolvencies is about to erupt.

he latest Insolvency statistics released by the UK Government show that the number of registered company insolvencies in September 2021 was 56% higher than September last year. This is the largest number of company insolvencies since before the pandemic began, with the number of insolvencies now just 4% lower than the number registered in September […]

Late payment debt is as high as £200,000 for 19% of UK SMEs.

New data from Time Finance reveals that 70% of UK businesses are suffering from late payments from their customers with late payment debt as high as £200,000 for 1 in 5 business owners. The findings come despite the UK Government introducing a Prompt Payment Code which was put in place to ensure small businesses receive […]

562,000 UK businesses are in financial distress.

New research by Begbies Traynor has found that despite the Q3 improvement in the financial performance of businesses, the numbers of significantly distressed companies (562,000) is still 15% higher than pre-pandemic. In the past quarter, there has also been a 17% rise (to 1,668) in critically distressed businesses. Support Services (87,694), Construction (72,465) and Real […]

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