16 Oct 2020
The announcement of a national lockdown on 23rd March 2020 caused much uncertainty and chaos for many of the businesses within the United Kingdom. It has now been months of worry and despite the UK Governments attempts to navigate the country through the pandemic and help our businesses along the way,…
Forbes Collect
16 Oct 2020
The increase of unpaid invoices has no doubt had an impact on the workload of those within credit control. As the department gets busier, you should have an effective credit management system and procedures in place to ensure that you are keeping on top of the status of all outstanding invoices and the…
Forbes Collect
28 Aug 2020
Recent research by accountancy firm Moore has shown that the average waiting time for payment of supplier invoices is 41 days, the same as it was in 2015. Staggeringly, over 17,000 businesses involved in the study are having to wait 90 days or longer to receive payment of money that they are owed.…
Forbes Collect
11 Jun 2020
Over 3,600 UK jobs have been claimed by the coronavirus pandemic, the Restaurant Group, which owns Frankie and Benny's, Monsoon Accessorize and Quiz have recently announced major restructures. Additionally, popular business names such as Debenhams, Rolls-Royce, British Airways and EasyJet have…
Forbes Collect
21 May 2020
Across the UK, businesses from all sectors are facing an unprecedented challenge because of the Coronavirus pandemic, and despite the government's extensive support package for businesses, many are still struggling with the shortage of cash-flow. One major contributor to this will be unpaid invoices…
Forbes Collect
18 May 2020
Recent times have seen unpaid invoices increase by 23% since lockdown measures were announced by the UK Government, following an analysis of 26 million business to business invoices by AI platform provider, Sidetrade . The impact of COVID-19 is certainly a contributing factor to the increase, but…
Forbes Collect
19 Mar 2020
Bad cashflow remains the key risks to businesses. The Insolvency Service has recently reported that in 2019, underlying company insolvencies have escalated to their highest annual level since 2013. This increase has been driven by an increase in Administrations and Creditors' Voluntary…
Forbes Collect
26 Sep 2019
After 178 years of trading, the world's oldest holiday company, Thomas Cook, has collapsed leaving a collection of issues for many, including their creditors. Whilst many travel agents have been hit by retail migration to the internet, Thomas Cook's demise is largely the result of the &…
Forbes Collect
28 Mar 2019
You can have all the ingredients for a successful business - a great product or service, happy customers and dedicated staff, but if the cash is not coming through, it can crumble. Currently, British business is continuing to suffer from a damaging late payment culture and SMEs are amongst the…
Forbes Collect
01 Nov 2018
Back in August the shocking news that Mike Ashley's Sports Direct agreed to buy the House of Fraser department store chain for £90m hit headlines. The deal was announced just hours after the 169-year-old chain went into administration when talks with its creditors failed to reach an agreement…
Forbes Collect
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