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UK SMEs Struggle Without Support, as 73% Can’t Even Secure a Meeting With Their Bank

Interest rates and trading costs have been rapidly rising, while SME survival rates continue to take a hit. But when business owners need support the most, many SMEs in the UK are feeling unsupported, independent polling agency Censuswide reveals. Seventy-two per cent of SMEs in the UK feel that their banking partners are providing limited support during …

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UK SMEs ‘neglected by banking sector’

News / By admin

During the most unstable economic landscape the UK has experienced in decades, the latest research unveils the extent of neglect from the banking sector towards SMEs (Small-medium sized enterprises). Independent research carried out across 500 UK SMEs found that 72% of respondents felt their banking partners are providing limited support during the current crisis. At a time …

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An Invoice Email Template You Can Copy!

Blog / By Lynne Darcey Quigley

Having issues with invoices not being paid on time? You’re not alone. Six in ten businesses are impacted by invoices being paid late. Sending invoice emails is an essential part of doing business if you want to get paid on time. That’s why we’re giving you an invoice email template you can copy! Copy this …

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Leveraging Credit Control

Blog / By Lynne Darcey Quigley

Maintaining a healthy cashflow through credit control is crucial for the long-term success and sustainability of any enterprise, especially against the backdrop of soaring insolvencies and record instances of late payment. One effective strategy for achieving this goal is to implement a robust credit control system. By effectively managing your business’s credit and collection processes, …

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What Are Unsecured Creditor Claims

Blog, Product News / By Wendy McMurray

Here at Know-it we help you uncover a potential cashflow catastrophe before it happens, thanks to our unsecured creditor claims data. This information is so valuable and will save you the stress of potentially losing out on being paid for invoices you’ve raised. So, what are unsecured creditor claims? Unsecured creditor claims identify which of …

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The Role of Technology in Credit Control

Blog / By Lynne Darcey Quigley

In today’s fast-paced and interconnected world, credit control has become a vital aspect of financial management for businesses. Traditionally, credit management involved manual processes and relied heavily on human intervention, which often proved time-consuming and prone to errors. However, with the advent of advanced technologies, the landscape of credit control has undergone a remarkable transformation. …

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Scottish fintech launches credit management platform to support business community

News / By admin

ONE OF Scotland’s fastest growing fintechs, Know-It, has unveiled a new service in its cloud-based credit management platform designed to revolutionise the accounting industry. Founded by Lynne Darcey Quigley, the new platform service offers accountants an opportunity to grow their practice, assist more clients in minimising credit risk whilst receiving payment rapidly and provide them with …

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How To Boost Cashflow With Late Payment Interest

Blog / By Lynne Darcey Quigley

Did you know you’re legally entitled to claim late payment interest and compensation for any of your overdue invoices? Late payments are one of the most frustrating parts of doing business and the effects are devastating, with 440,000 businesses possibly being forced to close as a direct result of being paid late. This shows the …

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What Does An Interest Rate Rise Mean For Your Business?

Blog / By Lynne Darcey Quigley

Updated June 2023: The Bank of England increased interest rates to their highest point in 15 years, up to 5%. The Bank of England have now raised interest rates for the ninth time this year in an effort to combat inflation. Interest rates have now climbed from 4.5% to 5%, the most rapidly these rates …

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The Perfect Storm: Interest Rates, Inflation & High Debtor Days To Increase UK Corporate Insolvencies

News / By admin

UK businesses continue to patiently wait for a change in the economic climate as pressure continues to mount – particularly on top of SMEs (small and medium-sized enterprises). The domino effect caused by rising insolvencies is that late payments also become a frequent threat. Compulsory company liquidation rates have doubled year-on-year, further highlighting that this issue is …

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