- June 20, 2016
-- The Irish media have reported that bad business debt in on the decrease. The Irish News notes that despite that figures still being high, the volume of bad debt - or non-payers who have become insolvent - has fallen remarkably since 2013 in Northern Ireland, with the overall figure down 9 per cent down on last year. The biggest rates of decline in the UK belong to Scotland. Frequencies of non-recoverable accounts following company liquidations fell by 36 per cent, from 1,139 in 2013 to 733 in 2015.
Bibby's survey in the first quarter of 2016 showed surprising results for UK SMEs overall - just over a quarter of those surveyed reported being affected by bad debt this year.
In contrast, Greater London and the North West of England are thought to suffer some of the worst levels of exposure to bad debt in recent years. Businesses located in Greater London are thought to have faced the greatest volume of exposure to bad business debts in the last three years, whereas the North West actually saw an increase of volume in bad debt of 2 per cent from last year.
Controlaccount plc have advised and worked with a selection of nationwide businesses throughout the years, and can assist businesses throughout the UK with dealing with bad debt.http://www.controlaccount.com