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Assisting you in making decisions by keeping you informed and up to date.
Running a business is an everchanging landscape. Government legislation, necessary paper work (and sometimes seemingly unnecessary), regulations and rules are forever changing. This is further compounded by world events causing supply chain issues, inflation and the ever rising energy costs.
Here at Anglian Commercial Finance we try to keep in touch with news and events and highlight the impact on your business.
Businesses are confident their profits will improve over the coming year despite growing pessimism about the wider UK economy, a survey published today shows.
An index of business confidence produced by Lloyds Bank rose by two points to 54 % in August, the fourth consecutive month of improvement. The rise in optimism was driven by firms anticipating higher revenue and profits in the coming months. Lloyds trading prospects index jumped by 5 points to 63%, an 11 year high.
Hiring confidence among UK employers is at its lowest for 13 years in spite of signs of a summer rebound in output.
The April rise in employers national insurance, policy uncertainty and other cost pressures have pushed the indicator for employment to its weakest since 2012, according to the BDO Business Trends barometer. Business confidence also fell in June compared with May and was under-whelming the accounting firm found after polling 4,000 companies.
Retail insolvencies were 13.6 % higher in May, according to Coface, the credit insurer.
The rise follows the increases to employer national insurance, the minimum wage, and the national living wage, which came into effect in April. Clothing and textiles retailers, and those selling electronic goods, saw the biggest rises in insolvencies.
The number of businesses becoming insolvent rose sharply last month as companies faced higher staff costs and continuing uncertainty over trading arrangements with the United States.
Business insolvencies in England and Wales rose 15% to 2,238 in May compared with the same month a year ago, according data from the Insolvency Service. The number of creditors voluntary liquidations, through which a director chooses to close down the business, rose by 13% to 1,734 while the number of company administrations, which usually involve larger enterprises, was up by 12% to 136.
There has been a record rise in UK businesses in severe financial distress as companies find it almost impossible to navigate the challenges they face according to an insolvency specialist.
The number of businesses showing signs of critical stress rose by 50.2% quarter on quarter to 46853 in the final three months of 2024.Begbies Traynor said. Its red flag alerts showed that construction companies were facing the most significant challenges with 6830 businesses showing signs of critical distress. Consumer sectors also reported a jump of 76% in financial for the leisure sector and 48% in general retailing.
