I have in the past received many requests from prospective clients and/or ongoing clients about taking legal action for something that has a value of £500. Instructing a professional to do it is not cost-effective as you generally throw good money after bad, i.e. a solicitor could cost you around £80 per hour + depending on where you are in the country. It's not only obtaining judgment which is key, but it's also looking at enforcing the debt too.
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The recent move by the Bank of England (BoE) to implement its 14th consecutive interest rate increase, raising rates to 5.25%, has set in motion a series of changes that extend beyond the surface-level market dynamics. As a Debt Recovery Specialist, I want to show how this decision can significantly influence businesses and their strategic financial planning. Let’s delve into the profound implications this rate adjustment holds for various aspects of our economic landscape. Borrowing Costs: The BoE’s decision to raise interest rates directly impacts borrowing costs, creating a ripple effect throughout the business world. This development is significant for
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Running a small business is rewarding but often comes with its fair share of challenges. One such challenge is dealing with disputes that may arise with customers, suppliers, or even competitors. As a small business owner, you might wonder when initiating legal proceedings is truly cost-effective. In this blog post, we'll delve into the factors you should consider before pursuing legal action, ensuring you make informed and strategic choices for your business.
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Running a small business is a fulfilling venture, but it's challenging. One obstacle entrepreneurs may encounter is disputes with customers, suppliers, or even other businesses. While it may be tempting to avoid confrontation, dealing with disputes is crucial to sustaining and growing your small business. This blog will explore why confronting disputes is essential and how seeking professional assistance can make the process smoother. If you find yourself amid a dispute and need guidance, don't hesitate to contact me for expert assistance.
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Small business owners often overlook the importance of terms and conditions, considering them unnecessary or only relevant to large corporations. However, the reality is quite the opposite. Terms and conditions are critical for every business, regardless of size, as they are a protective shield and a legal framework that fosters smooth transactions and customer satisfaction
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Inflation is a key economic indicator affecting consumers' purchasing power and overall cost of living. As we analyse the recent news of inflation falling to 7.9%, a question arises: Does a decrease in inflation necessarily translate to a reduction in mortgage payments? In this blog, we will delve into the relationship between inflation and mortgage rates, understanding how changes in inflation can influence mortgage payments.
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In the dynamic world of small and medium-sized enterprises (SMEs), cash flow is the lifeblood that keeps businesses afloat. However, recent trends indicate a concerning rise in late payments, causing substantial financial strain on SMEs. According to the latest SME Insights Report for 2023 from Simply Business, late payments have surged from £27 billion to a staggering £32 billion. This blog delves into the reasons behind this alarming increase and its potential implications for the SME landscape.
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The UK government's Director Information Hub is a valuable resource for company directors. It simplifies the management of directorial obligations, providing a centralised platform for information and tools.
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The Buy Now, Pay Later (BNPL) sector has experienced rapid growth and popularity, revolutionising how consumers purchase. However, recent news from Sky News suggests that the UK Treasury might shelve plans for regulatory measures on the BNPL market. This decision has ignited discussions on the potential impact of regulation and its significance for the future of the BNPL sector in the UK.
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Late payments have long been a persistent issue that plagues small businesses worldwide. In a recent article titled "Late Payment: A Guide for UK Businesses" by NerdWallet, the author sheds light on the detrimental effects of late payments and provides valuable insights into how small businesses can tackle this problem. This opinion piece discusses the significance of addressing late payments and highlights the author's key points.
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