The Big Numbers
Check out some of the stats surrounding bad debt in the UK.
In an uncertain economic climate, bad debt has been a prevalent feature in recent news headlines. The ripple effects of a company or their debtor’s insolvency and late payments could be detrimental to businesses.
Protect your business
Don’t let bad debt affect your business ambitions. Monitoring customer risk is important; acting on the information is invaluable. Take a look at some of our top tips.
1 Source: The Insolvency Service, statistical summary Q1 2018. Note that there were 938 creditor petition bankruptcies in Q1 2018, which was 13.5% higher than the previous quarter and 10.8% higher than the same quarter in 2017.
2 Source: ABI UK Trade Credit Data Report, March 2018
3 Source :Intrum European Payment Report 2018
4 Source: CreditSafe Watchdog, Q1 2018 review