Are high UK insolvency rates in January just a myth?
There are many factors that indicate there’s an increase in UK insolvency rates, but is this true? Understand how to protect your business from the impact of insolvencies.
Economic conditions in the UK, including the impact of the COVID-19 pandemic, inflation, trade credit insurance, and supply chain disruptions, the expected increase in business insolvencies and the challenges faced by businesses in the coming years.
The UK's agri-food sector is impacted by climate change, geopolitical tensions, population growth, veganism, labor shortages, and the European energy crisis. The report highlights the need for food access, potential food supply risks, and trade sanctions' impact on fertilizer prices.
The global construction sector is projected to grow by 1.9% YoY in 2023 and 2-3% in 2024, driven by urbanization, demographic shifts and infrastructure investment. Find out more about challenges include rising interest rates, and more.
The UK economy looks likely to avoid recession this year, but inflation, higher financing costs and a sharp rise in insolvencies continue to weigh heavily on UK businesses.
Mortgage rates are high and home ownership seems a mere dream for many. Meanwhile, the firms building new homes and working on major construction and infrastructure projects face increasing pressures themselves.
UK exporters face a period of heightened credit risk
The Allianz Trade Global Survey 2023 reveals the mood of UK exporters. Despite a challenging trade environment and growing fears of non-payment, UK companies remain optimistic about export growth.
Small and medium-sized enterprises (SMEs) are feeling the effects of late payments. This, compounded by the increase in insolvencies year-on-year makes for a nervy UK business environment.
Insolvencies Sector Update Hospitality, Travel, Transport June 2023
Overall insolvencies in England and Wales for the second quarter of 2023 were 6,393, a 7% increase on the first quarter. This was also a 17% increase on the same second quarter of 2022. For the first half of 2023, the number of insolvencies were 12,349, is a 15% increase on H1 2022.
Productivity growth has been poor in most advanced economies since the 2008 global financial crisis (GFC). The UK has underperformed most major economies since then, and is at its worst recorded level.
