Dec 29, 2020
As a business owner, it’s essential to understand and manage credit risk to maintain a healthy cash flow and avoid financial losses. Credit risk is the potential for a borrower to fail to repay a loan or credit extended to them. Understanding how much credit risk a business could pose to you is critical if …
Effective Strategies For Managing Credit Risk In Your Business Read More »
Company insolvencies continue to climb steeply March monthly insolvency statistics reveal. 2,457 businesses in England & Wales entered liquidation, an increase of 16% year on year. In Scotland the figure is 21% higher compared to March 2022, with 140 insolvencies recorded. The rise of Creditors’ Voluntary Liquidations (CVLs) paints an extremely bleak picture. 2,115 CVLs …
The Alarming Trend of Rising Company Insolvencies Read More »
Reducing your debtor days is fundamental to maximising your cashflow! Since you’re here reading this article we suspect you’re having issues with not being paid on time. You’re not alone. Late payments are crippling businesses all over the UK with 52% of businesses experiencing late payment, and 25% reporting increased instances of late payment in …
Is there cash hiding in your sales ledger? With rising interest rates and soaring numbers of company insolvencies , businesses are getting hit, hard! For one, a rise in interest rates means loan repayments will increase, it may be more difficult to be approved for funding and businesses will typically have less cash to spend. …
The swathe of corporate insolvencies we’ve seen over the past year shows no sign of slowing down! February 2023 figures show the number of companies going insolvent jumped 17% year on year, reaching 1,783. This is a huge 33% higher than pre-pandemic levels! In Scotland company insolvencies are up 11% compared to last year. The …
Company Insolvencies Show No Sign of Slowing Down Read More »
A business credit report is a powerful tool at your disposal that will allow you to get a glimpse into the financial shape of your customers, helping you make smarter credit decisions. It can also help you identify areas of improvement in your own business that will make you more favourable to lenders and suppliers. …
Complete Guide To Reading A Business Credit Report Read More »
Know-it, the all-in-one credit management solution, has today announced a new partnership with Swoop to bring Invoice Finance-it to the cloud-based platform. With the instances of late payments continuing to soar after hitting a two-year high in 2022 and the number of corporate insolvencies rocketing over the past year, Know-it has introduced invoice financing to …
Know-it Partners With Swoop To Offer Invoice Finance Read More »
Trade credit insurance provides much needed protection against the risk of your customers going into liquidation or administration! Think about the companies on your sales ledger and their average order value, could you afford for some of them not to be able to pay you as a result of going insolvent? In 2022 the number …
What Is Trade Credit Insurance & How Does It Work? Read More »
Invoice finance is a fantastic way to get a quick injection of cash to your business when you need it! Has there ever been a time when you’ve been in a tough spot waiting for your overdue invoices to be paid? It’s a familiar situation too many businesses are finding themselves in. Invoice finance is …
As we make the final push into the new year we’ve been busy implementing our biggest update so far to the Know-it platform and attending some big events! Here’s a look back at what we’ve been up to over the past month. You can now invite additional users for free As part of our biggest …
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