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What are informal agreements and when are they suitable?

Informal payment agreement can be arranged by either an individual or a company. They involve speaking to all creditors and coming to an agreement on how the debts will be paid back over a period of time. They tend to be used when the amount owed is low, there are only […]

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How CVAs can assist with debt relief

With the House of Fraser case hitting the headlines in recent weeks and many UK businesses struggling in the current economic climate, company voluntary arrangements (CVAs) are increasingly mentioned in the press as a route out of a difficult financial situation. Defined as a voluntary arrangement for a company whereby […]

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UK businesses expecting revenue drops

It has been revealed recently that a massive 93% of UK business owners are expecting a decline in revenue in 2019, with Brexit being cited as the biggest reason. The data, which was gathered in a report named ‘Business Insight: The Data Surge’ by MHR Analytics, a tailored commercial software […]

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SME growth being held back by cashflow issues

There is certainly no shortage of challenges that SME owners face on a daily basis. In addition to a lack of contingency planning, having difficulty in finding the right staff and struggling to manage time effectively, the obvious, common problem is money. Issues with cashflow often delay recruitment, product launches […]

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Consumer borrowing and interest rates rise

Though the warm weather, World Cup and royal wedding have all recently provided the UK economy with a much-needed lift, experts have warned that the nation’s finances are still recovering slowly after a sluggish start to 2018. Earlier in July, for instance, the Royal Institute of Chartered Surveyors said that […]

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Official figures reveal England and Wales dept capitals

It is no secret that Britain’s personal debt issue has intensified over recent years. With the likes of payday loans, growing use of personal contract plans for purchasing cars and low interest rates, the total level of consumer debt (excluding student loans) reached over £200 billion last summer. This is […]

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Pressure intensifies on UK retailers

As recently covered by Walsh Taylor on our blog, retailers across the UK have been struggling over the past year or so as a result of a drop in sales. With two new reports highlighting the sector’s bad performance in 2018, this trend unfortunately shows no signs of slowing down. […]

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North East business confidence on the decline

Despite a rich industrial heritage, there have been signs over the course of this year that the North East economy is struggling. As discussed by Walsh Taylor in March, local companies are facing an increased risk of insolvency, and the region has recently been revealed to have issues with work-life […]

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Gender insolvency gap remains for fourth consecutive year

Recent statistics released by the Insolvency Service have once again shown that women are more likely to enter into insolvency proceedings than men. Marking the fourth consecutive year that this gender gap has been identified, the disparity has widened steadily for some time according to the data. In 2000 and […]

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SME loans on the rise

It was announced recently that the number of new loans to small and medium-sized enterprises (SMEs) increased in the first quarter of 2018. According to data from UK Finance, in total there were 73,971 approvals between the start of January and the end of March, as opposed to 72,272 for […]

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