10 May 2024
According to Red Flag Alert which monitors the financial health of UK companies, 1,942 businesses in the Bournemouth area alone are at risk of economic failure. The figures represent a quarterly increase of 4.1 per cent and an annual rise of 27.2 per cent.
Economic challenges continue to put considerable financial pressure on businesses across the UK.
Nationally, the research for Q1 2024 recorded 554,554 companies in significant distress, a 30.8 per cent increase from the same period in 2023.
Cashflow is the lifeblood of any business and now more than ever is the time to review all trade and supplier outstanding invoices and to take action.
To avoid the risk of your B2B customers heading towards insolvency and the monies owed to you becoming unrecoverable, we cannot stress enough the importance of being proactive and seeking assistance.
We make every effort to recover your debts in a reasonable and cost-efficient manner, working closely with your accounts personnel and your debtor to ensure where possible business relationships are maintained, particularly where longstanding relationships exist.
For an informal chat about your business requirements or to instruct us in business-to-business debt recovery matters please contact Lesley Curtis, Head of Debt Recovery.
