The decision of the United Kingdom to exit the European Union, popularly known as Brexit, has generated significant concerns about its consequences on productivity.
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Monthly Archives May 2023
The Long-Term Impact of Sickness on Unemployment: Navigating Challenges and Building Resilience
Unemployment is a pressing issue that affects individuals and economies worldwide. In the United Kingdom, recent unemployment statistics shed light on the long-term effects of sickness and its challenges for job seekers.
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Navigating the Cost-of-Living Crisis: Citizens Advice Reports Bleakest Start to the Year
The year began with unprecedented financial challenges for individuals and families across the UK, according to a report released by Citizens Advice. As the cost-of-living crisis intensifies, the charity has witnessed an alarming surge in the number of people seeking assistance.
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Navigating Debt Restructuring: Building Stronger Relationships with Creditors
Debt restructuring can be a lifeline for individuals and businesses grappling with financial challenges. It offers an opportunity to renegotiate payment terms, reduce interest rates, and ultimately regain control over one's finances.
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Assessing the Financial Implications: The End of the Energy Bill Relief Scheme
With the closure of the Energy Bill Relief Scheme, businesses and public sector organisations that have benefited from discounted wholesale gas and electricity prices are now facing a new financial landscape. This scheme, introduced in September 2022, aimed to alleviate the burden of energy costs for eligible participants. In this blog, we will examine the potential financial implications of the scheme's end and discuss strategies for mitigating any adverse effects.
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Charging Interest for Late Payment: Ensure Timely Payments and Protect Your Business
Unless you have a contract which stipulates late payment interest as part of your contract, I would encourage any business to optimise the government legislation which applies interest and late payment clauses on top of your outstanding invoices.
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The Consumer Duty: A New Era of Fair Treatment for Vulnerable Customers
The global financial crisis of 2008 left a devastating impact on the world's economy. One of the significant reasons for the crisis was the unethical practices of financial institutions, which led to a loss of trust among customers. As a result, regulators started imposing stricter regulations on financial institutions to restore confidence in the industry. In the UK, the Financial Conduct Authority (FCA) regulate financial services, and one of its initiatives was the introduction of Treating Customers Fairly (TCF) in 2007.
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Late Payments: The Major Cause of Cashflow Worries for 7 in 10 Businesses
Last month, Time Finance published a survey in which around 20% of their clients turned to them as they were concerned about not damaging client relationships.
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The Principle vs Cost Conundrum: Is Pursuing Debt Worth the Expense?
A few years ago, I was instructed by a chartered surveyor who was owed in excess of £10k. Long story short, he was acting for a large conglomerate of retail units that had left him high and dry by changing points of contact on an ongoing basis. A quick overview of the debtor’s accounts clarified that they were in trouble.
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Understanding Debt Sales: A Guide for Business Owners
Not too long ago, an I.T. business contacted me and requested to know if anyone would be interested in purchasing debts, which were around £2 - £3k in value, of which he had two or three.
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