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
13 Mar 2018
On 1 st October 2017 the new "Debt Pre Action Protocol" came into force, changing the way in which formal demands for debts are made from individuals and sole traders. Instead of the usual 14 days to respond, both types of entities now have 30 days to respond to the demand for payment,…
Forbes Collect
14 Dec 2017
If you are faced with the situation where you have to take one of your clients to Court to recover your unpaid invoices, then it helps to know the legal costs and potential recovery of those costs in bringing a claim. This include but are not limited to: · Court fees ·…
Forbes Collect
13 Dec 2017
If you are faced with the situation where you have to take one of your clients to Court to recover your unpaid invoices, then it helps to know the legal costs and potential recovery of those costs in bringing a claim. This include but are not limited to: · Court fees ·…
Forbes Collect
31 Aug 2017
The late payment of invoices is one of the biggest problems businesses face according to BACS. In a 2017 study, the bank automated clearance scheme found that SMEs were collectively facing £14.2bn in late payments and commercial bad debts. While late payments from a customer can be difficult to…
Forbes Collect
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