Day: August 8, 2020

Could Debt Collection be the unlikely saviour for the UK’s economy?

Many Businesses in the UK are facing a tidal wave of unpaid invoices due to the current pandemic.

Over 57 per cent of Small and Medium sized Businesses have reported late payment issues since the Covid-19 began. This represents almost 3 in 5 SME’s across the UK.

Independent research carried out by Close Brothers Asset Finance have confirmed what most Small Business owners already knew.

Ongoing problem

The issue of SME’s not being paid on time or at all is nothing new. Research shows that since 2016 the problem of is an ever-growing issue for the UK SME Business community.

The impact of non-payment for Businesses is huge and should not be underestimated. It restricts the potential for companies to grow and despite various government schemes, it remains the nemesis for SME’s.

The pandemic has only served to exacerbate the problem. With the threat of court action temporarily removed, unscrupulous

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More than 10,000 British Airways workers are made redundant

More than 10,000 British Airways workers are being made redundant, it has been confirmed.

It is understood that 6,000 of the redundancies are voluntary and trade union Unite says a further 4,000 are compulsory.

A spokesperson for British Airways said: “Our half-year results, published last week, clearly show the enormous financial impact of COVID-19 on our business.

“We are having to make difficult decisions and take every possible action now to protect as many jobs as possible.

“And, while we never could have anticipated being in a position of making redundancies, more than 6,000 of our colleagues have now indicated that they wish to take voluntary redundancy from BA.”

Howard Beckett, assistant general secretary at Unite, said 4,000 of the union’s members have also been “forced out”, blaming “naked company greed”.

He added: “This is a very bleak day for the incredible BA workforce and will go down in the

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Washington Post taps Bogage as business breaking news reporter

We are thrilled to announce that Jacob Bogage is joining Business as a breaking news reporter.

Jacob has experience in this role, having been a Business intern at The Post in 2015 and 2016, before moving to Sports in August of 2016. In March, he temporarily moved from Sports to Business to help cover the economy and emerging recession amid the coronavirus pandemic.

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