Business news 25 November 2024
Wave of insolvencies looms for UK. Britain’s economy faces stagnation crisis. Labour’s tax bomb threatens growth. Retail sales fall sharply in October. Plus markets, insolvencies & much more business news that we thought would interest our members.
James Salmon, Operations Director.
Wave of insolvencies looms for UK
Britain is bracing for a surge in corporate insolvencies as businesses grapple with increased taxes and soaring costs, compounded by prolonged high interest rates following the recent Budget. Gordon Thomson from RSM UK warned of “a wave of distress” among firms due to the Chancellor’s national insurance hike and minimum wage increase. John Cullen from Menzies added: “It would be unrealistic to think that corporate insolvencies will go anywhere but up during the course of 2025.” Mark Ford, at wealth manager Evelyn Partners, warned many firms will be “fighting for their survival” due to rising wage bills while Ric Traynor, CEO of restructuring group Begbies Traynor, added that many firms will “throw in the towel” in the New Year rather than keep going only to be hit with a bumper tax rise in April.
If you sell on credit, are you protected from the dangers. Talk to us, at the Credit Protection Association, about how we can support you and help you trade with confidence. Just call Peter Uwins, CPA’s National Sales Manager, on 020 8846 0000 (business hours) or email nsm@cpa.co.uk today.
When you see your money come in, you will be so glad you used CPA.
The Credit Protection Association – Prompting Punctual Payments – Ethical, Effective, Efficient, Economical collections
Britain’s economy faces stagnation crisis
Recent data reveals that Britain’s economy is stagnating, with private sector activity dropping to a 13-month low in November. Chris Williamson, chief business economist at S&P Global Market Intelligence, stated: “Companies are giving a clear ‘thumbs down’ to the policies announced in the Budget.” The increase in employers’ national insurance, aimed at raising £25bn, has led to concerns over job cuts and price rises among major retailers. The purchasing managers’ index (PMI) indicates a decline in expected output, falling below the growth threshold. Paul Dales, chief UK economist at Capital Economics, warned that a contraction in the economy during the fourth quarter would not be surprising.
Labour’s tax bomb threatens growth – CBI
The Confederation of British Industry (CBI) is set to warn that Labour’s £25bn National Insurance tax increase will severely impact growth, investment, and jobs. Chief executive Rain Newton-Smith will address the CBI’s annual conference, stating that many industries, particularly retail and hospitality, are now in “crisis containment” mode. She will say that “profits are investment” and that hitting profits undermines competitiveness and growth. A recent survey revealed that half of CBI members are considering job cuts, while two-thirds are reducing recruitment plans. Chancellor Rachel Reeves is expected to respond in her own speech by chiding critics for failing to come up with alternatives to Labour tax hikes. She is expected to say: “We have asked businesses and the wealthiest to contribute more. I know those choices will have an impact. But I stand by those choices as the right choices for our country.”
Small firms set for festive boost
Small firms are poised for a “critical boost” this festive season, with households expected to spend over £20bn. The Small Business Saturday campaign highlights that smaller companies aim to capture a fifth of this spending. The report indicates that the festive period, which includes Black Friday, Cyber Monday, and Small Business Saturday on 7 December, could significantly aid the 5.5m small businesses in the UK facing ongoing economic challenges. Michelle Ovens, director of Small Business Saturday, said: “Public support is absolutely vital for small businesses across the UK,” as they strive to recover from the cost of living crisis and other hurdles.
Retail sales fall sharply in October
Retail sales in the UK experienced a significant decline of 0.7% in October, reversing the previous month’s slight increase. This drop was worse than the anticipated 0.3% contraction, with non-fuel sales plummeting by 0.9%. The Office for National Statistics (ONS) attributed this downturn to consumer uncertainty surrounding Rachel Reeves’s tax proposals. Ellie Henderson, an economist at Investec, remarked: “Today’s release is disappointing and calls into question whether momentum in the UK economy is fading.” Despite the October slump, retail sales were up 0.8% over the three months leading to October and 2.5% year-on-year, indicating some resilience. Matt Swannell from EY Item Club noted that the drop is “not a major cause of concern,” suggesting cautious optimism for the retail outlook in 2025.
Retailers demand urgent business rates reform
Britain’s largest retailers are calling for an urgent reform of business rates, warning that over 17,000 shops could close in the next decade without changes. Chancellor Rachel Reeves’ first Budget has resulted in a £140m increase in business rates, with relief slashed from 75% to 40%, disproportionately affecting smaller firms. Alex Baldock, CEO of Currys, stated: “The rates relief proposed so far isn’t just too little, too late, but will actually leave many retailers worse off.” The British Retail Consortium highlights that the retail sector pays £33bn in business taxes, significantly more than its economic share. With 6,000 shops already lost in the past five years, the situation is dire, and experts fear many smaller retailers may not survive until Labour’s proposed reforms take effect in 2026.
Climate
COP29 almost collapsed after weeks of gridlock and delegates from developing nations even walked out, before eventually a deal was struck for Rich nations to provide $300 billion in climate finance a year to poorer nations by 2035.
National insurance contributions hit record high
Recent figures from HMRC reveal that employers contributed £66.8bn in national insurance between April and October, marking a nearly 6% increase from £63bn in the same period last year. Damon Hopkins from Broadstone noted that these contributions “far exceed previous tax years,” indicating a lucrative future for the Treasury. The Labour Budget introduced a significant hike in employers’ national insurance contributions, raising the rate from 13.8% to 15% and lowering the payment threshold from £9,100 to £5,000. This move has faced criticism from businesses and charities, with concerns about potential job losses.
UK ministers accused of £2.7bn ‘backdoor hike’ in business rates
British companies are facing a hidden tax increase of £900m next year, escalating to £2.7bn by 2026, primarily due to rising business rates, according to Altus Group.
Return to office mandates put workers off
A survey conducted for the flexible workspace provider International Workspace Group has found that workers are looking to leave large companies that have removed flexible working options. Two-thirds of recruiters have seen an increase in applicants looking to change jobs after their firms issued return-to-office mandates while three-quarters said they had seen candidates turn down new roles that did not offer hybrid working. The survey also found that 72% of recruiters said companies that do not offer hybrid working are becoming less competitive in the job market.
Retirement costs soar for singles
The financial demands for a comfortable retirement in the UK have significantly increased, with a single person now requiring an annual income of £43,100, while couples need £59,000. Nigel Peaple, Director of Policy and Advocacy at PLSA, stated: “The cost of living has put enormous pressure on household finances over the last year and, as the research shows, this is no different for retirees.” For those aiming for a minimum retirement standard, a single person needs £14,400, up from £12,800 last year. To achieve a moderate lifestyle, individuals require £31,300 annually, reflecting an £8,000 increase from the previous year. Couples should budget £43,100 for a moderate retirement, which includes basic living expenses and modest leisure activities.
Gen-Z adults more likely to have a five-year financial plan
Research by First Direct reveals that approximately 76% of Millennials and 73% of Gen-Z individuals are committed to achieving their financial goals, despite economic challenges. The OnePoll survey, conducted among 4,000 participants, found that 59% of Gen-Z savers have a five-year financial plan, compared to 40% of Millennials. Carl Watchorn, head of banking at First Direct, stated: “What our data shows is that younger people have very high aspirations when it comes to achieving their financial goals.” The survey highlights that common aspirations include better work-life balance, saving for retirement, and achieving financial independence. However, 50% of Millennials reported that the cost-of-living crisis has delayed their financial milestones.
Markets
This morning on currencies, the pound is currently worth $1.258 and €1.199. On Commodities, Oil (Brent) is at $74.90 & Gold is at $2683. On the stock markets, the FTSE 100 is currently up 0.13% at 8273 and the Eurostoxx 50 is up 0.34% at 4805. Over in the US on Friday the S&P 500 rose 0.35% to 5969.34 and the NASDAQ rose 0.16% to 19003.65.
Markets have responded favorably to Donald Trump’s pick of Scott Bessent to lead the US treasury department. While the hedge-fund manager supports tariffs, investors regard him as a safe pair of hands and someone who has a good understanding of macroeconomics. Especially considering the more extreme candidates who were said to be in contention.
LLPs dodge national insurance hike
Limited Liability Partnerships (LLPs) have been exempted from the national insurance increase outlined in the recent Budget, leaving many major employers, who are facing increased costs, feeling frustrated. LLPs, commonly used by law, accountancy, and private equity firms, benefit from lower Class 4 national insurance rates, despite often earning substantial salaries. Peter Noyce, a partner at Menzies, noted that he would not be surprised if HMRC began scrutinising “salaried member” structures more closely. The Labour government, which has pledged to tackle tax avoidance, has seemingly overlooked a potential £4bn revenue from just four major City law firms. The decision raises questions about the Government’s priorities, especially as sectors with lower profit margins bear the brunt of the tax changes.
Banks face billions in claims for hidden PPI commission
Several banks and credit card companies in the UK are facing a new £18bn payment protection insurance (PPI) claim. HSBC, Santander, and Lloyds Bank are accused of secretly charging commission payments of up to 95% when they sold PPI to customers. UK law firm Harcus Parker is waiting for the High Court’s permission to launch a group action against the banks. The court is expected to make its decision in early 2025. The claim comes as banks face a wave of compensation claims for hidden commission paid on motor finance deals, the cost of which has been estimated at £16bn. The PPI scandal was closed off by the FCA with a 2019 deadline for claims, but Harcus Parker believes it can reopen the issue because the new legal action is related to hidden commission rather than mis-selling. Gary Greenwood, investment analyst at stockbroker Shore Capital, warned that the combined claims risked a “total meltdown in financial services”.
HMRC late-filing fines haul at a five-year high
HMRC’s late filing penalties reached a five-year high of £220m in 2022-23, affecting many low-income individuals unaware of new filing requirements.
Tax-avoidance schemes exposed
The Government has identified over 100 tax-avoidance schemes, particularly targeting umbrella companies that mislead freelancers. These companies, which should facilitate administrative tasks for contract workers, are increasingly being used to evade tax obligations. Chancellor Rachel Reeves announced that from April 2026, firms using umbrella companies must ensure correct tax deductions are made. HMRC warned: “If you are involved in any of the tax-avoidance schemes shown on this page, or recognise any of the promoters, enablers or suppliers, you should contact HMRC as soon as possible.”
House prices to tumble as stamp duty rises
Zoopla has warned that upcoming changes to stamp duty will likely dampen house price growth and exacerbate the North-South divide in the property market. Starting in April 2025, the “nil rate” band for first-time buyers will decrease from £425,000 to £300,000, leading to increased costs for buyers, particularly in southern England. Richard Donnell, executive director at Zoopla, said: “Faced with this higher cost, home buyers will want it reflected in the price they pay for their home.” The analysis suggests that these changes could reduce house price growth by 0.5 to 1% in 2025, especially impacting higher value markets.
Labour vows to tackle benefits bill
Sir Keir Starmer has announced a commitment to reform the welfare system, aiming to address the £137bn benefits bill that he describes as “blighting our society.” In an article for the Mail on Sunday, he stated: “We will get to grips with the bulging benefits bill blighting our society,” promising a zero-tolerance approach to fraud. The reforms are expected to include collaboration between the NHS and Jobcentres to assist those with health issues in returning to work. The PM’s statement comes as Liz Kendall, the Work and Pensions Secretary, prepares to announce a package of legislation to “get Britain working”, after officials forecast that more than 4m people will be claiming long-term sickness benefits by 2030 – 60% higher than before the pandemic. In an interview with the Observer, Kendall warns that Britain’s 650 job centres are no longer “fit for purpose” and must be updated, explaining: “When only one in six employers use a jobcentre to recruit, that is a major issue.” Labour’s reforms will include benefit sanctions for young people who fail to take up education or employment. Ms Kendall also outlines the policy in a piece for the Sunday Telegraph where she states that “there should be no option of a life on benefits for young people.”
Survey; Reduce pay gap between bosses and workers
According to a recent survey by the High Pay Centre, 55% of over 2,000 respondents support capping chief executive pay to maintain fairness between workers and bosses. The survey highlights a growing desire for a reassessment of the pay relationship, especially amid ongoing controversies in the water industry. The thinktank, funded by the abrdn Financial Fairness Trust, advocates for workers to have a voice on company boards, with 51% of participants in favour of this idea. Additionally, 70% support enhanced transparency regarding salaries exceeding £150,000. The High Pay Centre plans to release “A Charter for Fair Pay” ahead of the Employment Rights Bill, aiming to address income inequality, which the OECD ranks the UK as one of the worst for among its members.
Sickness crisis fuels migration surge
The long-term sickness crisis in Britain is significantly impacting net migration levels, according to Prof Brian Bell, chairman of the Migration Advisory Committee. He stated: “If you have people who are not in the labour market, that shrinks the pool that you can recruit from.” With nearly 2.8m working-age Britons unable to work due to health issues, the Government is prioritising getting people off sickness benefits. However, Prof Bell cautioned that even if more individuals leave health-related benefits, it may not substantially affect overall migration figures, as many may not fit roles in sectors reliant on foreign workers. The UK saw net migration of 685,000 last year, with economic migration being a key driver.
Youth unemployment crisis deepens
The Centre for Social Justice (CSJ) has raised alarm over the increasing number of young people not engaged in education, employment, or training, with nearly 946,000 aged 16-24 falling into this category. Of these, 552,000 are not actively seeking work, a situation exacerbated by health issues or disabilities. The report warns that failure to address this issue could lead to a £12bn deficit in public finances within five years, primarily due to lost tax receipts.
Benefits cut for young work refuseniks
Young people who refuse to work may see their benefits cut, Liz Kendall, the Work and Pensions Secretary has confirmed. The Government plans to introduce a “Youth Guarantee” for 18 to 21-year-olds, aiming to provide training and job opportunities. Kendall stated: “In return for those new opportunities young people will have a responsibility to take them up.” Recent figures revealed nearly 1m young people were out of education, employment, or training. The proposals also include an overhaul of the apprenticeship system to increase training opportunities. While Kendall acknowledged that some benefit claimants can work but choose not to, she believes they are in the minority. The rise in economic inactivity since the pandemic has been significant, with 9.3m people currently not in work or seeking jobs.
Labour’s attack on farming hits equipment suppliers
The Guardian reports on how the tax raid on farmers had unnerved farm machinery and building suppliers, who say the inheritance tax changes have had an immediate impact on business. One agricultural machine manufacturer said: “To survive, we need profitable farmers in the UK who will invest. It has been terrible since the budget: they are all sitting with their head in their hands.” Farmers are also considering leasing equipment so it’s not listed as an asset. Charlie Bryant, a land agent at Brown and Co, says of the 200 farms he assesses each year not one has fallen under the £1m threshold for IHT. “If the Government are trying to aim for a certain section of society, very wealthy people who have bought land for inheritance tax, I think they are wildly off the mark,” he added.
HMRC taking more aggressive approach to compliance
Chancellor Rachel Reeves is intensifying efforts to tackle tax evasion and avoidance, announcing a significant increase in tax investigations. HMRC has opened 93,000 investigations in the last quarter, a notable rise from the average of 78,000. With an additional £1.4bn allocated to hire 5,000 new tax investigators, Ian Robotham, legal director at Pinsent Masons, stated: “These extra resources will see HMRC deliver more investigations and more prosecutions for tax fraud.” The focus is particularly on inheritance tax. Neela Chauhan from UHY Hacker Young warned that taxpayers must ensure accurate estate planning to avoid scrutiny, as HMRC employs advanced data analysis tools, including the HMRC Connect supercomputer, to track down discrepancies. The tax authority is also leveraging social media and online trading platforms to monitor compliance, aiming to recover an estimated £5.5bn from evasion.
Reeves accused of being economical with the truth
The Times on Saturday ran through the fibs told by Rachel Reeves on her CV over the years after the Chancellor’s claims drew widespread criticism. Reeves told voters she worked “as an economist… at Halifax Bank of Scotland” when standing for parliament in 2010 when in reality she worked in a retail banking complaints team. In 2021 Reeves said she’d “spent a decade at the Bank of England” but was there for only 6 years, including a master’s degree and two-year stint in an embassy. Finally, in 2023, she told an event about “all that time working as an economist at the Bank [of England] and in the private sector…” but she has never worked as an economist in the private sector.
Labour’s support hits record low
Support for the Labour Party has fallen to a record low following backlash over proposed inheritance tax plans for farmers. A recent poll indicates Labour is now three points behind the Conservatives, with only 25% support, a significant drop from a post-election high of 39%. Nearly 75% of voters believe the UK has worsened under Sir Keir Starmer’s leadership.
Homebase had debts of over £730m before collapse
City AM reports on how the company behind Homebase owed more than £730m when it collapsed into administration. The brand was partially saved by the owner of The Range, while CDS, which also owns Wilko, took on 70 stores. HHGL Limited owed an intra-group debt to Ark Finco of around £524m when administrators from Teneo were brought in. Other credit lines were also heavily drawn on.
National World probes invoicing irregularities
National World, the publisher of The Scotsman, has initiated an investigation into “historical invoicing irregularities” linked to Media Concierge, the company attempting to acquire it for £56.2m. The London-listed firm has engaged a forensic auditor to examine reports of these irregularities. Media Concierge, which holds a 26% stake in National World, has made a 21p-per-share offer, resulting in a 26.7% increase in National World’s share price. Media Concierge claims its offer is “highly attractive and deliverable,” providing a 40% premium over the closing price. However, National World has raised concerns about a “potentially systemic pattern” of invoicing issues related to Media Concierge’s past services. The investigation began on October 2, with National World seeking access to historical records for a thorough evaluation of the offer. Media Concierge has categorically denied the allegations, stating they are “completely baseless.”
Latest Insolvencies
Petitions to wind up (Companies) – BESTUP LIMITED
Petitions to wind up (Companies) – LINK CONSTRUCTION AND ENGINEERING LTD.
Appointment of Liquidators – THE CATERING SCHOOL LIMITED
Petitions to wind up (Companies) – OAKHILL (SCOTLAND) LIMITED
Appointment of Administrator – THE DUMBARTON FOOTBALL CLUB LIMITED
Petitions to wind up (Companies) – W S A CLOTHING LIMITED
Petitions to wind up (Companies) – CICAK INTERNATIONAL LTD
Petitions to wind up (Companies) – LEXCAL PROPERTY LTD
Petitions to wind up (Companies) – STAG BARBER CO. LTD.
Petitions to wind up (Companies) – MAYFIELD FRY LIMITED
Petitions to wind up (Companies) – PEPPER GRILL LTD
Appointment of Liquidators – DEEPOCEAN 1 UK LIMITED
Petitions to wind up (Companies) – HOMESERVE BUILDING LIMITED
Petitions to wind up (Companies) – DAWOOD CONSULTANCY LIMITED
Petitions to wind up (Companies) – ESSO ENERGY UK LIMITED
Petitions to wind up (Companies) – GP FIBRE LIMITED
Petitions to wind up (Companies) – LEGAL NATIONAL LIMITED
Petitions to wind up (Companies) – RDP CONSTRUCTION LTD
Petitions to wind up (Companies) – Q-BOID LTD
Appointment of Administrator – ENNIS CARAVANS LIMITED
Petitions to wind up (Companies) – LONDON FOOD CORPORATION LIMITED
Petitions to wind up (Companies) – CROWN HOUSE APARTMENTS LTD
Appointment of Administrator – LEXON (G.B.) LIMITED
Petitions to wind up (Companies) – SPEEDY BUILD LIMITED
Appointment of Liquidators – STRATTON SECURITY LTD
Appointment of Liquidators – COMMERCIAL & RESIDENTIAL PROPERTY INSURANCE SERVICES LIMITED
Appointment of Administrator – LUMOS TELECOM LIMITED
Appointment of Liquidators – MARTIN IT SERVICES LTD
Appointment of Liquidators – MCKENNA SALES & MARKETING LTD.
Appointment of Administrator – VAN HOOL (U.K.) LIMITED
Appointment of Liquidators – MEZHER CLINIC LIMITED
Petitions to wind up (Companies) – CAFE MELROSE LTD
Appointment of Liquidators – EDWARDS HARVEY ENTERPRISES LTD
Petitions to wind up (Companies) – MEDISANITIZE INDUSTRIES LTD
Petitions to wind up (Companies) – TAZ ROCK LTD
Petitions to wind up (Companies) – NOVEL EUROPE MANAGEMENT SERVICES PM LIMITED
Petitions to wind up (Companies) – GFL DAIRY LIMITED
Petitions to wind up (Companies) – FALCON HOUSE LTD
Appointment of Liquidators – P2P E-LOGISTICS LIMITED
Appointment of Liquidators – GENCLOSE LIMITED
Appointment of Liquidators – PROFOUNDERS LEGACY LLP
Appointment of Liquidators – PRIMENG CONSULTANCY SERVICES LIMITED
Appointment of Liquidators – WARWICK ANALYTICS SERVICES LTD
Appointment of Liquidators – MULTICORP (HOLDINGS) LIMITED
Appointment of Liquidators – SOFTSCAPE LIMITED
Appointment of Liquidators – I.Q.A CONSULTING LIMITED
Appointment of Liquidators – B.A. WILLIAMS HOLDINGS LIMITED
Appointment of Liquidators – PLATAFORMA LTD
Appointment of Liquidators – EMANS HOLDINGS LIMITED
Appointment of Liquidators – ESSEX TRACTOR CO. LIMITED
Appointment of Liquidators – SCOTTS HOLDINGS LTD
Appointment of Liquidators – ARIVA CONSULTING LTD
Appointment of Liquidators – B. A. WILLIAMS (CHEMISTS) LIMITED
Appointment of Liquidators – APPLIED SIGNS LIMITED
Appointment of Liquidators – RED BUTTON MEDICARE LIMITED
Why you should become a member of CPA!
The Credit Protection Association (CPA) has been assisting thousands of UK businesses to get paid, since 1914. We have supported our members through all sorts of difficult trading environments. With high interest rates and a struggling economy and elevated insolvencies, our services can help your business navigate these difficult waters.
Unlike other credit management and debt collection companies, we offer a range of services to our members that are all included as part of a fixed annual subscription, tailored to your needs.
Under your annual subscription you will have access to our main services:
- Our Creditcare credit reports provide credit ratings and limits along with a host of detailed information on your potential customers to enable you to trade with confidence and set appropriate credit policies for new customers.
- Our monitoring service will alert you to any significant changes in the status of those customers.
- Our Overdue account recovery service can be used to chase up payment on any invoices to those customers that have not been paid on time. Unlike other debt collection companies, this service directs your customer to pay direct to you and allows you to maintain your goodwill with them, rather than inserting ourselves into your relationship with you customer and insisting they pay CPA instead. Our Overdue account recovery service resolves over 80% of accounts referred to us.
All of the above services and other complimentary services such address verification, are included in your subscription!
And for the small minority of debts not resolved through our Overdue account recovery service, you can refer the debt to our collections department to escalate the late payment collections process.
CPA eases cash from tardy debtors – Efficiently, Effectively, Economically and Ethically. And we provide credit information so you can monitor and assess your key customers and be warned of any potential risks. CPA has been improving business cash flow for over 100 years, by tackling late payers and campaigning against the late payment culture in the UK.
Unlike other credit management companies, we offer our members a fixed annual subscription regardless of how high the value of their debts maybe!
Rather than to borrowing more money to improve your cashflow, CPA suggests that business owners tackle the problem at its source. If late payments are a strain on your cashflow, then talk to CPA about how we can help you reduce those late payments.
Just call Peter Uwins, CPA’s National Sales Manager, on 020 8846 0000 (business hours) or email nsm@cpa.co.uk today.
When you see your money come in, you will be so glad you used CPA.
The Credit Protection Association – Prompting Punctual Payments – Ethical, Effective, Efficient, Economical collections
Do you have a commercial late payer that is causing you grief? Use CPA’s no-win, no-fee, commercial debt recovery service!
If you have a particular business customer who is late paying and causing you sleepless nights, why not offer it to CPA’s collection department for purchase on recourse?
CPA’s collection department will then pursue the debt. We will be liable for any costs incurred and then when we have recovered the debt, we will pay you the net principle debt recovered less our percentage.
Once you have enjoyed that success then you can consider the more cost effective membership which includes our Overdue Account Recovery service and Status/Credit reports as well as a range of other complimentary services.
Just call 020 8846 0000 and ask for Godfrey Nelson or Cris Shirley (business hours) or email debtpurchase@cpa.co.uk today.
The Credit Protection Association – Prompting Punctual Payments – Ethical, Effective, Efficient, Economical collections.
Get compensated for previous late payments
Have you been paid late by business customers in the last six years?
Maybe you no longer work with them. Under legislation, you are entitled to compensation you for those late payments you have suffered.
You put up with the PAIN – now claim the GAIN!
Claim late payment compensation (LPC) from former business customers who paid you late in the last six years!
CPA (LPC) Recoveries is using our bespoke software and decades of experience to do just that for our clients
Check our compensation calculator to see how much your business could be owed!
Discover NOW the potential value of late payment compensation hidden in your sales ledger!
The Credit Protection Association – Prompting Punctual Payments – Ethical, Effective, Efficient, Economical collections.