With the increased use of debit cards and chip and pin technology, the humble cheque is being accepted by fewer and fewer retail outlets as a means of payment. It remains, however, a popular method of payment for business. Cheques are written orders from account...
With the forthcoming suspected interest rate rise, 40% of SME’s admit to having no financial buffer despite having outgoings of over £4k per month. SME loan approvals has falled from 58% to 43% in the past year. Where SME’s do have something in reserve, the most...
We have recently become aware that there is a scam going around where an individual who has recently had a County Court Judgment (CCJ) receives a phone call from an alleged Bailiff who is pretending to work on behalf of The Northampton County Court. All judgments...
The main purpose of any business is to make a profit. In any downturn as work becomes scarcer, there is a temptation to lower the price you charge in order to maximise your share of the dwindling demand. This can become a race to the bottom; you need to consider...
On Saturday 28 March 2020, the Government announced that they would be modifying the Insolvency Act 1986 to allow businesses breathing space and allow them to continue to trade whilst options for recovery are explored. This is by looking to suspend a director’s...
The Registry Trust has released statistics for January to March 2019 which show a 12% increase in County Court Judgments (CCJ) against businesses. 35,779 judgments totalling £107.2m against businesses were registered in that 3-month period. This is a 6% rise from the...
Over the past weekend British Midland Regional Limited trading as flybmi entered into administration leaving passengers stranded. It also leaves their 376 employees in jeopardy. The Brexit uncertainty combined with the rise in fuel and carbon costs have been blamed by...
The Insolvency Service has released the Oct-Dec 2018 Insolvency Statistics which showed corporate insolvencies are still on the increase with a small rise of 0.7%, they are now at the highest level seen since 2014 with a total of 16,090 companies being made...
The total number of defaults and small claims judgments issued in Northern Ireland during the first quarter of the year rose to the highest levels since Q1 2012, according to figures released by the Registry Trust. The Registry Trust is the non-profit organisation...