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Realistbear

B O E Wrong: Debt Is A Problem In The Uk

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http://www.businesslink4london.com/index.c...&intItemID=4512

Firms hit by rise in 'bad debt'

17.03.2006

Small businesses are losing thousands of pounds every year due to unpaid bills, a new survey suggests.
Research conducted by Leeds University and credit insurers Atradius shows that on average, small businesses write off £14,000 of debt each year.
The Credit Management Research Centre (CMRC) report also found that more than one in five of all UK firms say
bad debt is now a serious problem
for them and a third describe late payment as a serious issue.
"
The number of insolvencies in the UK is steadily rising
, so firms must have systems in place to minimise the risk of bad debt, or they could become another business failure."

It must be so terribly difficult for the chaps at the B o E to admit they have dropped a perler but it appears that the problem of debt is not just an imaginery inconvenience. :lol::lol::lol:

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Indeed, it's not costless, everytime somebody defaults it leaves an honest company out of pocket. How would you feel about doing a weeks work and not being paid because some crook defaults?

Edited by BuyingBear

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Be nice to see Business Debt rates on hold, whilst all other debt is increased to force people to stop.

Then again......nahhh fu** em! (not the business, the people) <_<

Edited by OzzMosiz

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Nothing new here. Bad debts/late payment have always been a problem for small firms. Partly this is due to poor credit control on their part and an unwillingnees to turn away work.

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Nothing new here. Bad debts/late payment have always been a problem for small firms. Partly this is due to poor credit control on their part and an unwillingnees to turn away work.

True, but its the trend that is worrying:

"
The CMRC research has shown
an increase in bad debt problems in recent months
that are in line with the rising trends in personal and corporate insolvencies," said Professor Nick Wilson, of the CMRC.

It is possible that the debt culture fostered by HPI/MEW is beginning to place strains on the economy that will have repercussions.

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  • 301 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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