We are proud to reveal that so far in 2023, we have collected £25 million for our members through our debt recovery service.. Increasing Reports of Overdue Balances Within the construction industry we have seen an increased number of reports from our members relating to overdue balances. These reports and the rising insolvency figures mean […]… Continue Reading
What is a Notice of Intention and What Does it Mean for Creditors? Due to rising inflation rates, interest rates and considerable uncertainty within the construction industry, insolvency rates have increased. Specifically within the construction industry we have seen an increase in the appointment of Administrators and an increasing number of Notices of Intent to […]… Continue Reading
Is Court Action The Best Way Forward? Number of Judgments Increasing On 7th September 2023, the Ministry of Justice released their quarterly statistics for the second quarter of 2023, covering the period from April to June 2023. During this period a total of 276,965 judgments were secured, marking an increase of 11,679 when compared to […]… Continue Reading
On Friday 13th October the latest Insolvency Statistics for September 2023 were announced. Below, we shed light on how these statistics may impact you and your business. Company Insolvencies Year on Year Comparison Company Insolvency has risen by 17% in September 2023 when compared to September 2022. The total number of company insolvencies in September […]… Continue Reading
According to a recent survey conducted by Top Service Ltd, 85% of individuals employed in credit management did not initially plan for it to be their chosen career path. A significant number of individuals working in credit management express feelings of being undervalued. In some cases, they believe that the sales function within a business […]… Continue Reading
The Department for Business & Trade have released the latest statistics for September 2023, but what does this mean for you and your business? We discuss below the Turnover Forecast for October, the Turnover Trend and Future Price Increases. We also provide our advice on how to keep yourself protected from increased rates of insolvency […]… Continue Reading
The Insolvency Service released the latest set of statistics for August 2023 this morning, to understand what this means for you and your business please find a summary of the key points below. Registered Company Insolvencies: In August 2023, 2,308 registered company insolvencies were reported, this is an increase of 367 insolvencies when compared to […]… Continue Reading
To be asked to the judging committee for the 2024 British Credit Awards is an honor that I have been delighted to accept. I’m looking forward to the process and being part of recognising the credit industry and the professionals that work so hard within the industry.… Continue Reading
The August statistics for building materials and components released by the Department for Business & Trade provide valuable insights into the current business environment. Let’s break down what these statistics mean for your business: Price Trends: The statistics show that 30% of trading businesses advised that they have seen an increase in prices for goods […]… Continue Reading
