With business confidence in the UK precarious as Britain edges towards an uncertain Brexit, the Bank of England has cited a high number of loans to risky businesses as being a serious problem to throw into the mix.
The number of UK companies rated as being in ‘significant financial distress’ during Q3 2018 has increased by 5% compared to the same quarter last year, according to the latest Red Flag Alert research data from Begbies Traynor, the UK’s leading independent insolvency firm.
Homebase join a long list of retailers scrambling to survive in an increasingly hostile retail environment. Led by the restructuring firm Hilco, Homebase is expected to propose a company voluntary arrangement imminently.
With 18 pubs closing every week, what does the future hold for the 50,000 that remain? The environment seems bleak: increased tax on alcohol, a decreasing drinking culture among millennials and economic uncertainty are three headline reasons for pessimism, but is there reason to be hopeful?
In recent years, SMEs have found it increasingly easy to obtain unsecured loans. Many business owners are not able, or willing, to provide collateral for a secured loan so they’re turning to the growing market of unsecured debt.