The monthly report from the Insolvency Service has been published, containing vital information about the number of individuals and companies currently experiencing financial difficulties and undergoing formal insolvency procedures. In June 2023, there were 2,163 company insolvencies registered, which is a 27% increase from the previous year's number of 1,698 in June 2022.
July 2023
Cash flow management is crucial for small and medium-sized businesses because it directly affects their capacity to stay operational and grow over time. Cash flow is the amount of cash coming into and out of your company during a given period. Ideally, your organisation has a consistent supply of incoming cash or a positive cash flow.
July 2023
Our High Five Awards acknowledge a team member who has contributed to the business. This recognition is for those who have shown extraordinary passion and drive and played a critical role in looking after our customers or improving the company's performance. As individuals, they work tirelessly behind the scenes and play a crucial role in the success of a business.
June 2023
The Insolvency Service has released its latest monthly report to offer current data on the number of individuals and companies unable to pay their debts and undergoing formal insolvency proceedings. The number of registered company insolvencies in May 2023 was 2,552, 40% higher than in the same month in the previous year (1,825 in May 2022), reaching levels not seen since the Government'...
June 2023
The annual fraud report by UK Finance showed that over £1.2 billion was stolen through invoice fraud in 2022, and businesses continue to encounter a high level of this type of fraud, losing millions of pounds year-on-year. The impact of fraud is often more dramatic for SMEs who simply cannot absorb the losses that may arise, which could result in their business failing.
May 2023
Limited companies in the UK will soon have to change how they file their accounts as part of a new Government bill that will reform Companies House operations. The changes will impact all UK-registered companies. The Economic Crime and Corporate Transparency Bill aims to increase transparency in company information and combat economic crime through new measures.
May 2023
APIs are valuable tools that allow various software systems to communicate and exchange data or functionality. They are perfect for businesses that require smooth, integrated access to manage and utilise credit data portfolios. Accessing CoCredo's company data through our API provides reliable real-time risk and credit information and accurate credit ratings to aid more informed decisions and manage credit risk better,...
May 2023
Monthly Company Insolvency Statistics: April 2023 In April 2023, there were 1,685 registered firm insolvencies, 15% fewer than the previous year (1,988 in April 2022). This was, however, greater than levels recorded during the Government's assistance measures in response to the COVID-19 pandemic and higher than pre-pandemic figures.
May 2023
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