The Government has appointed Emma Jones CBE as the new Small Business Commissioner, taking up the role on 23rd June 2025.

As founder of Enterprise Nation, Emma brings a deep understanding of the challenges small firms face, particularly when it comes to late and unfair payments.

“Time-poor founders are spending too many hours chasing debt. This is limiting their capacity to grow—we want to change that.” – Emma Jones CBE

In 2024, SMEs were owed an average of £21,400 in late payments.
In construction, it’s often far higher, and the impact is greater.

📖 Read the full government announcement:
👉 https://www.gov.uk/government/news/government-appoints-emma-jones-cbe-as-new-small-business-commissioner-to-help-tackle-late-payments

What This Means for Construction

At Top Service, we welcome any momentum toward fairer payment practices—but we also know change takes time. That’s why our members aren’t waiting to react—they’re acting proactively.

Using real-time, construction-specific credit intelligence, our members identify risk and tighten terms before payment problems escalate.

• Early warnings
  Shared trading experiences
  Company and Director Monitoring
  Support with debt recovery

We’re Ready. Are You?

Whether it’s poor payers or unexpected insolvencies, you need more than a promise of change. You need real tools that work now.

We’re built for construction. We’re ready when you are.

📞 01527 503990
🌐 www.top-service.co.uk

#ConstructionCredit #LatePayments #TopServiceLtd #DebtRecovery #CashFlow #CreditControl #EmmaJonesCBE #ConstructionRisk #FairPayment #SMEs

Top Service urges suppliers to act early and protect against hidden insolvency risks

A construction director who failed to explain nearly £500,000 in company bank transfers—and left creditors facing over £160,000 in losses—has been handed a suspended prison sentence following an investigation by the Insolvency Service.

Mario Huiu, former director of Incentive Services Limited, was sentenced at Thames Magistrates’ Court after being found guilty of failing to deliver critical accounting records to liquidators. His company, previously known as EMA Dry-Lining Ltd, entered liquidation in December 2020 after just seven months under its final trading name.

📄 Read the full Insolvency Service case summary here:
👉 https://www.gov.uk/government/news/construction-director-sentenced-after-failing-to-explain-almost-500000-worth-of-transfers-out-of-company-account

According to the Insolvency Service, Huiu’s misconduct left liquidators unable to verify:

• £498,480 in unexplained transfers
• £261,960 in unverified cash receipts
• The true reason the company failed with £162,482 in unpaid debts

“Directors like Mario Huiu who fail to keep accurate financial records put their creditors and trading partners at unacceptable risk,” said Mark Stephens, Chief Investigator at the Insolvency Service.

Top Service: Real-Time Credit Warnings That Could Have Helped

At Top Service, we work exclusively with the construction industry to help businesses avoid being blindsided by insolvency events like this one. Through our unique member-shared trading data, we often detect signs of financial distress months or even years before a company fails.

🔎 In many cases, delayed payments, erratic trading behaviour, or sudden credit events are reported by our members long before liquidation becomes public.

📉 Had this company been on our radar, our members would likely have seen the red flags early—giving them time to tighten credit terms, pause supply, or recover debts before being left unpaid.

Our Take: The Real Cost of Hidden Risk

Construction remains the most affected sector for insolvencies in the UK. When records are missing and accountability is absent, suppliers are the ones who pay the price.

Top Service helps construction businesses:
✅ Identify risky accounts early
✅ Avoid bad debts
✅ Make confident credit decisions
✅ Stay informed with real-time alerts and verified member feedback

Don’t Wait Until It’s Too Late

If you’re supplying contractors, subcontractors or service providers in the construction space, the risk is real—and growing.

Let’s talk about how to protect your business.
📞 01527 503990
🔗 www.top-service.co.uk

Top Service Ltd – Credit Intelligence for Construction

The latest insolvency figures are in—and once again,  the construction industry is under pressure.
In May 2025, 2,238 companies across England and Wales became insolvent:

• 8% increase from April
• 15% higher than May 2024

This includes:

• 1,734 creditors’ voluntary liquidations (CVLs)
• 354 compulsory liquidations
• 136 administrations
• 14 company voluntary arrangements (CVAs)

CVLs now account for 77% of all insolvencies, a clear sign that more businesses are choosing to close voluntarily, often due to unsustainable debts.

Construction: Still the Most Impacted Sector

In the 12 months to April 2025, 4,032 construction businesses became insolvent—17% of all cases where the sector was identified.

That’s more than:

• Wholesale and retail (3,615)
• Accommodation and food services (3,369)
• Manufacturing (1,970)

The construction sector continues to face the sharpest end of credit risk, despite demand, operating costs, tight margins, and cashflow pressures are forcing many firms to exit the market.

What’s Driving the Numbers?

While insolvency rates are still below the 2008–09 peak, the upward trend is clear:

• Insolvency rates are now 53.0 per 10,000 companies (up from 50.4 in April)
• May saw a 7% drop in compulsory liquidations (after April’s 10-year high)
• But administrations increased by 28%, indicating more companies are trying to restructure before shutting down

Our Take – What This Means for You

At Top Service, we go beyond the numbers. As the UK’s only credit reference agency dedicated solely to the construction industry, we use real-time, construction-specific trading data—shared directly by our members—to spot early warning signs of financial distress long before insolvency hits.

Often, our members report delayed or inconsistent payments from a company up to a year or more before it enters insolvency. This shared insight gives our network the edge: the ability to act early, tighten credit terms, or stop supplying altogether, potentially saving thousands in bad debt.

We’re seeing a shift in the industry: companies aren’t just paying late—they’re going under, often through CVLs, leaving suppliers exposed. This isn’t the time to just be careful—it’s the time to be proactive, and that starts with information you can trust.

If you’re supplying, contracting or subcontracting in this environment, credit risk is real—and growing.

What Should You Do Now?

• Review payment terms and tighten where needed
• Track changes in customer behaviour – missed payments, sudden CCJs, changes in directors
• Use live credit alerts to stay informed
• Act early on overdue debts – don’t wait for insolvency to strike
• Speak to experts who understand your industry

Insolvency numbers aren’t falling. Construction is still the most vulnerable industry.

At Top Service Ltd, we help construction businesses:

• Minimise debt exposure
• Make confident credit decisions
• Get paid faster
• Stay one step ahead of insolvency risk

Let’s Talk – With the right tools and real-time industry-specific data, your business can trade safely, without the surprises.

Stay ahead. Minimise risk. Maximise cash.

We’re here to help – whether it’s insight, tools, or recovery.

Call us on 01527 503990 or visit top-service.co.uk

Is the construction industry on the brink or are statistics misleading?

By Philip King.

Since 2021, the construction sector has accounted for almost one in five of all corporate insolvencies. The percentage has ranged between the lowest of 15.1% (November 2024) and the highest of 20.4% (February 2022). The percentage for all corporate insolvencies across the 10-year period from 2015 to 2024 was 17.7%, or one in every 5.65. Sadly, there’s little to suggest the number’s going to change any time soon.

The latest Government Office for National Statistics (ONS) trend figures over three months reveal an industry in stagnation, recording no net growth overall. The S&P Global/CIPS UK Construction PMI in March remained in contraction, with new orders declining for the third month in a row, and just 40% of firms expecting output to rise in the coming 12 months. The more recent Flash Composite PMI for April slid to a 29-month low of 48.2.

At the time of writing, many are predicting a cut in the Bank of England interest rate from 4.5% to 4.25% in May. While this can be beneficial for small firms that rely on borrowing, it can also lead to companies taking on debt that can hide underlying financial problems. It’s a time to be watchful and wary.

Fixed-price challenges

Firms in the construction sector struggle when fixed-price contracts prevent them from passing on rising costs. Also, cash flow suffers from hikes in material costs, project delays, and supply chain disruption. Costs are increasing, both through National Insurance Contributions and a rise in the minimum wage. Inflation is still an issue, as is the uncertainty arising from tariffs being imposed by the US. As such, it’s reasonable to assume the rate of insolvencies is unlikely to diminish across the rest of 2025.

Brendan Clarkson of PKF Littlejohn Advisory agrees. He observes that Compulsory Liquidations in February 2025 reached their highest level in 10 years as a result of HMRC and local authorities stepping up their activity and showing less forbearance than had hitherto been the case. The total in February 2025 was 49% higher than in February 2024.

Creditors are also becoming more proactive in pursuing outstanding debts and are increasingly resorting to legal action. His firm is seeing a rise in enquiries for restructuring and insolvency support, with directors seeking specialised advice on managing their business finances amidst escalating costs. Small businesses, in particular, find it challenging to pass on additional costs to customers while still wanting to remain competitive.

So what are things like on the ground? I’ve talked to some Top Service clients and members to get their views on the year so far.

Reduction in overdues

There’s a consensus that collections have performed well; relatively few bad debts have been experienced and, generally, they are of low value. A reduction in overdues is also being seen and, where customers are struggling, more are taking a proactive approach to arranging payment plans. This is a positive sign of a willingness and desire to honour debts rather than walk away and leave the supplier unpaid.

There’s less common consensus on the commercial front, however. Some have seen sales start to pick up and are feeling positive, opening more new accounts than ever, while others say trade has not increased to the levels they’d anticipated and that it’s a battleground to win business. One member observed that things are eerily good and they’re waiting for a shock!

I also asked what their main current ‘pain-points’ were and identified a variety of issues. Taking decisions without adequate information was high on the list. There are a number of reasons for this: companies filing minimum information or having no requirement to file because they are so new, and the resulting unavailability of credit insurance leading to trading at their own risk.

Requests for payment plans, and customers seeking increased credit limits, also featured. A particular difficulty was granting more credit when customers were unwilling to provide additional information, such as management accounts or draft statutory accounts. Handling the commercial pressure to offer more credit in these circumstances was also a factor causing pain.

Account analysis

One member highlighted the difficulty of reaching any form of conclusion from analysing year-on-year accounts. Everybody has had a tough year, and the majority of accounts show negative movement. Success lies in determining which had a tough year and are weathering the storm, and which had a tough year and are on their last legs.

There was common recognition of increasing instances of fraud, and the need for greater vigilance and better avoidance systems. One single instance can have a devastating impact on a company’s survival, so it’s an area that needs constant focus.

In general, and particularly in regard to collections performance, it seems that experience at the coal face is better than suggested by the more general insolvency statistics and predictions. I see a couple of possible reasons for this. Firstly, the impact of increased employment costs, US tariffs, and rising employment costs have yet to be fully felt, and it may be a matter of timing. Secondly, it’s likely that these Top Service members have best practice credit management processes, get real-time shared payment experience, and have effective systems in place. They’re more adept at spotting risks and warning signs, at being proactive in managing and minimising overdue debts, and – as I said in my last contribution to this magazine – at being willing to give and receive information about their customers which puts them on the front-foot.

Philip King FCICM is a non-executive director at Top Service Ltd

The Deputy Prime Minister has issued a clear and direct message to UK housebuilders: the time for delays is over. Backed by new planning powers and penalties, councils will now be able to hold developers to account to ensure promised homes are actually delivered.

Under the government’s Plan for Change, developers will need to commit to realistic build-out schedules before receiving planning permission. Annual progress reporting will be mandatory, and those falling behind without good reason could face a Delayed Homes Penalty—or even risk losing future permissions altogether.

These reforms aim to deliver 1.5 million new homes, prevent speculative land banking, and support working people and families locked out of the housing market. The government is also trialling a “mixed tenure by default” approach for large sites, aiming to speed up delivery by ensuring a stronger mix of affordable housing.

At Top Service, we welcome this push for greater accountability and transparency in the sector. For too long, uncertainty around project delivery has made it harder for contractors and suppliers to plan ahead. When sites stall, the ripple effects across the supply chain can be significant—from disrupted schedules to delayed payments. Measures that reinforce timely, reliable build-out benefit not just communities, but everyone involved in getting the job done.

As always, we’ll be keeping a close eye on how these changes are implemented across local authorities, and what they mean for those working on the ground.

📄 Read the full government release

The latest insolvency data for April 2025 has just landed – and while there’s a slight dip from last year, signs of strain are still evident, especially in the construction industry.

2,053 companies entered insolvency across England and Wales – a 3% increase from March, but 5% lower than April 2024. While numbers have eased slightly compared to 2023’s 30-year high, overall volumes remain well above historical averages.

Breakdown of April 2025 Company Insolvencies:

• 1,544 Creditors’ Voluntary Liquidations (CVLs)
  
• 379 Compulsory Liquidations (the highest monthly figure since 2014)
  
• 105 Administrations
  
• 24 Company Voluntary Arrangements (CVAs)
  
• 1 Receivership
  

The 12-month rolling insolvency rate now sits at 52.5 per 10,000 companies, or 1 in every 190 businesses – a notable improvement from last year, but still cause for caution.

Construction: Still Top of the Insolvency Table

Once again, construction tops the list of hardest-hit sectors, with 4,111 company failures in the 12 months to March 2025 – 17% of all insolvencies with known industries.

This persistent trend reflects the tough environment many in the industry are navigating:

• Materials and labour remain costly, and project delays continue to wreak havoc on cash flow.
  
• Employer National Insurance rises have added to overheads, especially hitting smaller firms.
  
• And while some indicators (like interest rates) are showing signs of improvement, construction businesses are still under heavy pressure to maintain financial stability.
  

Our Take

We’re seeing more firms caught off guard – not necessarily due to bad management, but because warning signs are missed or action is taken too late. It’s no longer enough to simply “keep an eye on things.” Construction companies need to be more proactive than ever.

What You Can Do Next

In uncertain times, credit control becomes one of your strongest defences. We recommend:

• Monitoring your ledger for signs of payment stress – late payers are often the first signal something’s not right.
  
• Chasing overdue invoices quickly and consistently – don’t let cash slip through the cracks.
  
• Using professional support – our recovery team at Top Service knows construction. We’re specialists in securing payment quickly, professionally, and effectively.
  

Stay ahead. Minimise risk. Maximise cash.
We’re here to help – whether it’s insight, tools, or recovery.
📞 Call us on 01527 503990 or visit top-service.co.uk

Administration confirmed: 15th May 2025

At Top Service, our trading experiences tell a story — and when enough chapters are written, our members take action. Here’s how we supported them through the Corbyn Construction collapse:

Early Warning Signs Detected

• Over 100 adverse trading experiences reported: late payments and non-payments.
• Corbyn added to our Exclusive Watch List in early 2023.
• By August 2023, it appeared on both our most adverse experiences list and most viewed companies list.
• While generic agencies were still offering credit limits as late as 7 May 2025, Top Service removed its credit limit on 9 November 2024 — for the second time.

Administration Timeline

• Nov 2024 – Corbyn files a notice of intention to appoint administrators
• Groundworks and concrete frame specialist with £32.8m turnover and just £436k profit (year ending June 2023)
• 12 CCJs totalling £122,152 prior to collapse
• Administration confirmed: 15 May 2025

Results for Our Members

Top Service were instructed in a third party capacity and collected over £1.3 Million.

This is why construction suppliers rely on Top Service.

We provide real-time intelligence, sector-specific insights, and proactive alerts that help you spot risk early and take informed action.

If you’re a construction supplier relying on generic credit data, you could be left exposed.

Our service is built exclusively for the construction industry — and the results speak for themselves.

🛠️ Talk to us about how we help you trade safely.

March 2025 saw a slight dip in company insolvencies across England and Wales, but the numbers remain worryingly high—and construction continues to bear the brunt.

According to the latest government data, there were 1,992 registered company insolvencies in March 2025, down 2% from February’s 2,032, but still 9% higher than March 2024. Although we’re no longer at the historic highs of 2023, the current levels are a far cry from stability. These figures serve as a reminder: volatility is far from behind us, particularly for industries already stretched thin by rising costs, delayed projects, and prolonged payment cycles.

Construction: Still Leading the Pack—for All the Wrong Reasons

Once again, the construction industry recorded the highest number of insolvencies in the 12 months leading to February 2025—4,046 cases, accounting for 17% of all company insolvencies where the industry was known. This marks construction as the most affected sector, continuing a trend that has persisted over the past two years.

Why is construction struggling? The sector faces a perfect storm: persistently tight margins, increasing materials and labour costs, long-standing late payment issues, and the ongoing impact of high interest rates on project financing and property development. Add to that the increased risk aversion from lenders and clients, and it’s easy to see why many firms are reaching breaking point.

At Top Service, we’ve seen firsthand how even well-run construction businesses are being caught in the crossfire—especially subcontractors and SMEs who often operate with limited cash buffers.

Breaking Down the Numbers

• Creditors’ Voluntary Liquidations (CVLs) continued to dominate, making up 77% of all insolvencies in March. These rose slightly—up 1% from February and 8% year-on-year—suggesting that many companies are choosing to wind up before cash flow pressures become fatal.
  
• Compulsory liquidations dropped 24% from their 10-year high in February but still remained higher than both the March 2024 level and the 2024 monthly average.
  
• Administrations rose by 17% month-on-month and 30% year-on-year, hinting at an uptick in attempts to restructure or sell businesses before total collapse.
  
• While low in volume, Company Voluntary Arrangements (CVAs) surged by 143% from February and were 89% higher than in March 2024, indicating renewed interest in alternative turnaround options.
  
• The rolling 12-month insolvency rate now stands at 53.1 per 10,000 companies, or 1 in every 188 companies—down from 55.8 the previous year but still elevated by historic standards.
  

It’s worth noting that although total insolvencies over the last year are slightly down from 2023’s 30-year high, they remain significantly above pre-pandemic levels.

Long-Term Picture: Risk Hasn’t Gone Away

While the headline rate may suggest slight easing, the underlying conditions remain tough. The construction sector, in particular, is still walking a tightrope. Even as insolvency rates per capita remain below 2008-09 levels (thanks to a larger register of active companies), the pressure on businesses is intense.

Government support during the pandemic helped stem the tide—but we are now seeing the delayed impact of debt burdens and inflationary costs. The question for the months ahead is whether these insolvency levels represent a new normal, or if we’re heading for further structural adjustment.

Our View

We’re urging construction businesses to stay proactive—tighten credit control, renegotiate payment terms where possible, and be wary of overtrading. Even modest drops in insolvency numbers shouldn’t be mistaken for a sign of stability. The data paints a clear picture: this is a sector still deep in the fight for resilience.

If you’d like to speak with us about how to protect your business or a client’s in these conditions, reach out. We’re here to help you navigate the risk and stay ahead of the curve.

Overview

With fraud on the rise across the construction industry, taking proactive steps to protect your business is more important than ever. Opening trade credit accounts comes with an inherent level of risk—not just around payment delays or defaults, but the growing issue of fraudulent activity.

At Top Service, we see this risk daily. From false identities and stolen details to completely fabricated companies, the methods fraudsters use are evolving. As the construction sector’s #1 credit reference agency, we believe in sharing insights and supporting our customers in taking smarter, preventative action.

Why Due Diligence is Crucial

When extending credit, you’re essentially investing in someone else’s ability to pay. But if that someone isn’t who they say they are, the risk is far greater.

The issue isn’t just non-payment—it’s the permanent loss of goods, disruption to supply chains, and financial instability that could have been avoided with some simple but effective checks.

Fraudulent activity reported to us recently includes:

• Stolen company identities used to secure goods
• Fake companies with real-looking websites, contact details, and accounts
• Individuals posing as employees of genuine firms to place high-value orders

In every case, there were warning signs that could have prompted further investigation.

Spotting the Warning Signs

Here are a few credibility concerns and inconsistencies you should never ignore:

• Unfamiliar email addresses from genuine-looking companies
• Urgent or unusual order volumes, particularly on a first transaction
• Delivery address mismatches (mailboxes, residential locations, or empty units)
• Communication gaps (e.g. phone numbers that go straight to voicemail or bounce back emails)

How to Protect Your Business

Here are simple, actionable steps you can take:

1. Use a Credit Application Form

Gather essential details:

• Company name and registration number
• Entity type (e.g. Ltd, Sole Trader)
• Key contacts and decision-makers
• Delivery addresses
• Contact phone numbers and emails

2. Verify the Information

Don’t just collect it — check it:

• Use a credit reference agency (like Top Service) to verify the company
• Review director history for patterns like multiple dissolved companies
• Check if others in the industry have flagged the business as a credit risk or potential fraud

3. Pick Up the Phone

If an order seems unusual, call the company directly using details from their official website (not the order form) and confirm:

• That the person works there
• That they have authority to place the order
• That the order itself is legitimate

This one action can stop a fraudulent transaction in its tracks.

4. Be Wary of Delivery Instructions

Avoid orders that request:

• Cross-loading at anonymous locations
• Third-party delivery without verification
• Last-minute delivery changes or pressure

5. Test Your Own Processes

Create an internal test order or use a fake identity to apply for credit. Did the order get through too easily? Use this to assess and strengthen your internal fraud prevention procedures.

What If You Suspect or Fall Victim to Fraud?

• Report it to Action Fraud or by calling 101
• Share it with your trade association and credit reference agency
• Use it to reinforce your future credit policies

Final Thoughts

Fraud can be sophisticated, but so can your defences. Trust your instincts. If something doesn’t feel right, it probably isn’t. We’re here to help you make better-informed decisions that protect your business.

Need help tightening your credit process? Ask an expert today.

The Bank of England is expected to lower the base interest rate from 4.5% to 4.25% at its meeting on 8 May 2025. This move comes in response to slowing inflation and wider economic challenges. While the rate cut may seem small, it could have a real impact on the construction industry—and for the credit managers supporting it.

What to Watch For in the Construction Sector

Lower Borrowing Costs

A cut in interest rates means cheaper loans and finance. This is good news for construction firms, especially smaller ones that rely on borrowing. It may encourage more investment and project activity.

Action: Keep a close eye on customers taking on more debt. Cheaper borrowing can sometimes hide financial problems.

Better Cash Flow

Lower rates can ease pressure on cash-strapped businesses, improving their ability to pay on time—at least in the short term.

Action: Review payment terms. Some customers may be in a better position to pay sooner, but it’s important to check that improvements are genuine.

More Projects Starting Up

Cheaper finance can lead to more residential and commercial developments. This means your customers may be busier—but your exposure to risk could increase too.

Action: Make sure credit limits reflect both the customer’s finances, the experiences of other suppliers and the amount of work they’re taking on.

Higher Risk-Taking

While lower rates can help, they can also encourage riskier behaviour—especially from firms trying to recover or grow quickly.

Action: Look again at high-risk accounts. Update credit ratings and monitor these businesses more often.

Boost in Confidence

A rate cut can lift confidence across the industry. Businesses may become more open to new projects, suppliers, and partnerships.

Action: Work closely with commercial teams. Support growth where it makes sense—but keep credit controls in place.

Final Thought

This small rate cut might not grab headlines, but for credit professionals in construction, it matters. It brings new opportunities—but also fresh risks. Now’s the time to stay alert, support commercial goals, and manage exposure with care.