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Household bills have been a major problem to consumers for some time now, with soaring prices pushing many to the edge of debt. The upcoming annual rises are only going to make things worse. Two recent surveys suggest a large proportion of households are going to be in serious difficulty. What Rises Are Coming for Household Bills? A number of bills will be rising substantially in April — and a massive 73% of people s

No, a “zombie company” isn’t something from a sensationalist horror film. It’s actually something far scarier, if you think it might apply to the business you run — and it’s far more likely to keep you awake at night. A zombie company is one that could be described as dead but still walking. That is, it’s a company that’s still managing to trade and service its debt, but nothing more. There’s no chance of being able

As part of the drive towards Net Zero, the Government has launched a consultation on its plans to set a minimum EPC (Energy Performance Certificate) rating of C for privately rented homes by 2030. This starts a countdown to obligations on landlords that could cost the private rental sector as a whole nearly £20bn. What Are EPCs? Energy Performance Certificates rate the energy efficiency of a building, with the aim to

Life has been challenging for businesses for several years now. Brexit and the Covid pandemic were joined by global conflict in pushing up prices, for businesses as well as consumers. And that only looks likely to get worse, with the effects of October’s Budget and punitive tariffs being imposed by the USA. Two recent reports have highlighted the extent of the problems facing UK businesses. Profit Warnings in 2024 A

A large proportion of small business owners are struggling to afford to run their businesses at the moment, with the  cumulative effects of the pandemic, Brexit and world events pushing costs up. However, disabled entrepreneurs have always found things harder. One issue has traditionally involved the difficulty in accessing finance. This is why it’s significant that the Government has just announced a new initiative,

Insolvencies are on the rise. 2023’s company insolvencies were the highest since 1993, with the level of Creditors’ Voluntary Liquidations the highest since at least 1960. Company Directors are normally protected from personal liability in these cases — as long as they follow the rules. Failure to do so, however, can have serious consequences. The Rise in Company Insolvencies Over 25,000 companies entered insolvency

If you’re a small business owner, you don’t need me to tell you that times have been hard for the past few years. It’s easy to assume things are improving now. After all, both inflation and interest rates have been falling this year. Unfortunately, very little of this gain seems to have been passed on to SMEs. So why is this, and what can you do about it? Fall in Inflation and Interest Rates Inflation in the UK hit a

Late payments have long been the scourge of small businesses, especially when doing business with larger companies. The Covid pandemic and the recent economic crisis have made this worse, but there’s some light on the horizon. The Government recently announced a three-pronged attack on late payments. The Problem of Late Payments As I reported last month, the latest figures for late payments show that the proble

Of the various approaches you can take to recover money owed to you, applying for a bankruptcy against your debtor is perhaps the most extreme. While individuals who owe money they can’t repay may declare themselves bankrupt, a creditor owed more than £5,000 can also apply for a Bankruptcy Order. When to Apply for a Bankruptcy Order You can apply for a Bankruptcy Order if an individual owes you money you can

Late payments constitute one of the biggest threats to the survival of small businesses. Unlike large corporations, most small or micro businesses don’t have the reserves to manage without regular cashflow coming in, and any substantial delay in payment of the money they’re owed could potentially force their closure. Which makes the latest statistics particularly worrying. Figures show that over half of i