Research released today from Tradeshift finds that 13% of invoices issued by UK small businesses remain unpaid every year, causing a £1.4tr black hole in the economy. At a time when life is tough for many small businesses, just under a third (30%) said cash flow issues caused by unpaid invoices could force them to lay off staff and 20% said they would have to turn down business or take out a business loan. The res…

Oakworth Joinery Ltd, Keighley, which went into administration last Friday, is shutting down this week with the loss of 170 jobs. Joint administrator John Russell of The P&A Partnership said: “The business has been loss making with a declining order book for some time. Unfortunately, we have been unable to secure trading terms with Oakworth’s major customer who accounted for almost 75 per cent of orders…

Research from MoneySupermarket.com, has found that over one in six (17 per cent or 8 million Brits) missed a payment for at least one bill in the last 12 months, potentially putting their credit profiles at risk, with credit cards coming out on top as the most missed payment. With many consumers expected to apply for a personal loan or credit card this year, the research found that worryingly, three million people had m…

Mike Hutchinson of Bacs Payment Schemes Ltd (Bacs), has commented on how bad weather can affect the cash flow of small businesses: "If businesses are relying on cash or cheque payments from their customers, the bad weather can bring bad news as some debtors may struggle to get out and about in the snow and ice. “Yet with times so hard for many UK businesses, making sure bills are settled on time is vi…

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Winding up petitions on the following companies were advertised yesterday the 6 February 2012. BELFAIRS DRYLINING LTD COMPLETE HORSE AND PET SUPPLIES LIMITED THE LONDON GLASS COMPANY (UK) LIMITED PARABAS LIMITED TSG SOUTHERN LTD For more information email jarnold@creditman.co.uk If you have a debt owed by any of these companies you might be interested in our Winding Up Petitions - Creditor Supp…

Secure Trust Bank, who specialise in offering lending and banking solutions to UK customers who may not be adequately served by other banks, has selected Callcredit Information Group to provide a tailored identity verification service to assist them in fulfilling ‘anti-money laundering’ (AML) requirements. The bespoke identification and verification software allows Secure Trust Bank to check the identity of …

Leading risk management experts, Hilton-Baird Audit & Survey, are strengthening their senior team. Graham Bird (pictured), who has been with the business 18 months, has been promoted to Director tasked with driving the business forward in what promises to be an exciting year. In his new role, Graham will draw on his in-depth asset based lending expertise to extend Hilton-Baird’s reach among the UK’s lead…

Edward Winterton, Bibby Financial Services’ executive director, commented on the rise in consumer confidence. “The recent contraction of GDP for Q4 2011 has worried economists and businesses into thinking the UK could be falling back into another recession. Moving into 2012, new research from GfK NOP recorded an increase in consumer confidence between December and January – the report’s highest r…