The Bank of England has announced a reduction in the base rate, a move welcomed by many UK businesses after a prolonged period of high borrowing costs. For the construction sector, where margins are tight and projects are often financed over long periods, lower interest rates may offer some short-term relief. However, from a credit […]… Continue Reading
Why the best business outcomes still depend on people talking to people. By Philip King FCICM I was privileged to represent Top Service at the 2025 CICM CreditFest events held in Birmingham, Manchester, London, and Leeds in recent months. They were great events and it was suggested I might share some of my thoughts with […]… Continue Reading
After a brief period of stability, corporate insolvencies have begun to climb once more. In October 2025, England and Wales recorded 2,029 company insolvencies —🔺 2% higher than September 2025 (1,995)🔺 17% higher than October 2024 (1,739) While 2025 remains slightly above 2024 levels, activity is still below the 30-year high seen in 2023. Breakdown […]… Continue Reading
Credit management isn’t just about collecting money — it’s about building great business relationships that support long-term growth and stability. For businesses in today’s fast-paced environment, especially across the construction and trade sectors, effective credit control is key to maintaining healthy cash flow. The best businesses understand it’s not simply about chasing payments; it’s about […]… Continue Reading
Construction insolvencies remain high as overall UK insolvency levels stabilise in September 2025. Overview The latest figures from the Insolvency Service show that business failures across England and Wales remain stubbornly high, and construction continues to feel the brunt. With 2,000 registered company insolvencies in September 2025, levels are holding steady compared to both August […]… Continue Reading
Background In May 2025, a new member joined Top Service — marking their fourth company within the same group to take advantage of our industry-leading credit management and debt recovery services. The group’s decision to extend membership across all its businesses reflects its confidence in Top Service’s results and our understanding of the construction sector’s […]… Continue Reading
Signs of recovery in the construction sector clash with rising costs, week confidence and a cautious credit outlook. While many commentators have shared their views on the direction of travel in the construction sector I thought it might be interesting to compare these to the experiences of Top Service members who are working in the […]… Continue Reading
In August 2025, company insolvencies dipped slightly compared to July, but the numbers remain elevated, and construction remains at the top of the list for all the wrong reasons. According to the latest government data, there were 2,048 registered company insolvencies in England and Wales during August. That’s 2% lower than July’s 2,083, but still […]… Continue Reading
In construction, margins are often tight, projects are complex, and payment delays can put serious strain on your cash flow. That’s why knowing exactly who you’re trading with, before problems arise, is essential. Relying on instinct or experience isn’t enough. The most resilient construction businesses carry out proactive checks on customers to identify risks before […]… Continue Reading
In construction, where upfront costs are high and payment terms are long, managing credit risk isn’t optional; it’s essential for survival.Trade credit insurance is a valuable safety net, protecting you from losses if a customer becomes insolvent or defaults.But here’s the reality: insurance pays you after the damage is done. To truly protect your cash […]… Continue Reading
