Support small businesses over Christmas –  business news 23 November 2020.

James Salmon, Operations Director.

Support small businesses over Christmas, chancellor urged to help entrepreneurs, office projects rocked, brexit, trade, re-shoring, Canada, the deficit,  covid-19, market and other business news.

Here are CPA we want to share the business news stories we have seen that we think will affect our members and readers. Many of us are busy fighting to protect our businesses and therefore might have missed some of the news that could impact small businesses, their owners and those that sell on credit.

Public primed to support small businesses over Christmas

A survey of over 2,000 consumers by the Post Office suggested that more than one in five are more likely to buy Christmas gifts from small businesses this year.

Many of those questioned said it was important to offer support to businesses affected by COVID-19.

Mark Siviter, managing director of mails and retail at the Post Office said: “The support for small and local businesses is one of the positive outcomes we’ve seen as a result of the pandemic and it’s reassuring to see the prediction that this sector is expected to thrive over the festive period.”

We can all support small businesses over christmas by spending money locally with independent businesses.

Chancellor urged to help excluded entrepreneurs

A consortium of professional bodies is urging Rishi Sunak to consider proposals for a “directors income support scheme” to help entrepreneurs who have missed out on coronavirus financial support packages.

Working from home shift rocks office projects

Construction of new offices in central London has fallen by 50% over the last six months, according to Deloitte Real Estate, with developers saying weak demand for office space was putting them off starting new projects. “Developers are pausing schemes because leasing sentiment is difficult at the moment,” Mike Cracknell, director at Deloitte Real Estate, said. “Occupiers are struggling to get people back into their offices, let alone worrying about a lease expiry that’s coming up.”

Chancellor could save £300bn by trimming the fat

Analysis by the TaxPayers’ Alliance suggests the Chancellor could save £300bn over the course of the next five years without increasing taxes. Rishi Sunak would have to tackle waste and make dramatic cuts to public expenditure including scrapping public sector pay rises and bringing overseas aid to an end. John O’Connell, chief executive of the TPA, said: “The Government’s manifesto commitments and the economic challenges of the coronavirus crisis can only be met with bold action that protects taxpayers. Ministers must refuse the tired argument that there is no more fat left to trim.” Separately, the Daily Mail claims public sector waste and extravagance has cost the taxpayer £5.6bn this year, with Whitehall mandarins taking home at least £42m in bonuses last year while £81m was paid to public-sector workers to carry out union tasks. Meg Hillier, chairman of the public accounts committee, said: “There is no magic money pot – this is taxpayers’ money that’s being spent at a time when the low-paid and hard-working people have seen a massive cut in income or lost their livelihood.”

Brexit and Covid spark reshoring switch

The coronavirus pandemic and Brexit have prompted businesses to bring production back to the UK with factories predicted to make up to £4.8bn more goods for British retailers in the next 12 months. A report by Alvarez & Marsal and the research group Retail Economics says structural weaknesses in global supply chains, highlighted by the pandemic, and the threat of tariffs through a no-deal Brexit combined with increased demand for sustainable products, has persuaded retailers to consider alternatives to sourcing from the far east, for example. Separately, PwC expects Black Friday spending to fall 20% to £6.2bn following a slump in sentiment, particularly among those at risk of losing their job.

The Deficit

The government borrowed £22.3bn in October, the highest figure on record for that month. Government spending continued to rise, in response to a new surge in covid-19 cases during the autumn. Rishi Sunak, the chancellor of the exchequer, faces a balancing act in this week’s mini-budget. Economists forecast this year’s full-year deficit could reach almost £400bn.


The government and Canada have agreed to a “rollover” trade deal that will extend the terms of an existing agreement between Canada and the European Union when the Brexit transition period ends on 31st December. Britain has so far secured only a few post-Brexit trade agreements, but optimism is rising that it will agree one with the EU in time to avoid crashing out of the bloc without a deal.

Covid-19 general news

Prime Minister Boris Johnson is to set out plans for a strengthened three-tier system of covid restrictions to replace the national lock-down in England and to give a limited relaxation of rules at Christmas. Johnson is to detail his winter strategy othisafternoon, with a proposal to deploy a major testing scheme in an attempt to win over rebels on the Conservative backbenches.

The UK added 18,662 cases yesterday, taking the total over 1.5 million  as the numbers continue to drop in response to lockdown 2.0. Deaths in the UK surpassed 55 thousand.

Globally 490,495 new cases took the total to 57.9 million with 1,388,724 deaths.

AstraZeneca said clinical trials in the UK and Brazil showed its Covid-19 vaccine, being developed with Oxford University, had an average efficacy of 70% in protecting against the virus. One dosing regimen showed vaccine efficacy of 90% when AZD1222 was given as a half dose, followed by a full dose at least one month apart, and another dosing regimen showed 62% efficacy when given as two full doses at least one month apart. Despite the apparently lower efficacy than shots from Pfizer and Moderna, which each prevented about 95% of cases, the British vaccine has some advantages when it comes to distribution. While the other two vaccines have to be stored frozen, the Astra-Oxford jab can be kept at refrigerator temperature, which would make it easier to transport and store globally, particularly in lower and middle-income countries. It also comes at a lower cost.

Pfizer Inc. filed with U.S. regulators for an emergency-use authorization for its Covid-19 vaccine

After 20 days of adding over 100,000 cases a day, The US enters Thanksgiving week with 12 million cases and 256,000 deaths. The CDC has urged citizens to stay home but over 50 million are expected to travel.

Mink have tested positive for coronavirus at a farm in France, giving yet another case of the transmission of the  virus from humans to the animals.


On Friday markets were struggling to find direction. Despite positive vaccine news, and strong retail figures, the slowness of brexit talks or continuing rise in infections were a negative pull. Sterling rose modestly against both the US dollar and Euro. And continued its rise today on news of the trade deal with Canada. The pound is at 1.126 Euros and 1.337 US Dollars.

The S&P 500  fell 0.68% as cases of covid-19 in America continued to climb and worries mounted about the country’s financial recovery

Sunak pledges no return to austerity as tax rises loom

The Chancellor has said this Wednesday’s spending review will not usher in a return to austerity, rather there will be an increase in spending on public services. Rishi Sunak warned that forecasts revealed this week would lay bare “the scale of the economic shock” caused by the COVID-19 crisis with the economy “experiencing significant stress” with more to come. Although tax rises haven’t been explicitly mentioned, Treasury insiders admit there will have to be some “big” decisions on taxation ahead of a spring Budget. Mr Sunak hinted there could be a freeze on public sector pay saying any settlements would have to be considered fairly and in the context of what is happening with wages and employment across the economy. Unions reacted angrily at the prospect of a pay freeze with Frances O’Grady, head of the TUC refusing to rule out the possibility of strike action.

HMRC issues scammers warning

HMRC is warning those who submit self-assessment tax returns that scammers are targeting people ahead of the January 31 deadline. Fraudsters are promising a “tax refund” or “rebate” in an attempt to gain access to personal details to sell on or raid bank accounts.

Anders Povlsen: Tax should be measured against impact on natural world

Danish billionaire and Scotland’s largest landowner Anders Povlsen has said tax breaks should be granted to companies that reduce their carbon footprint as part of efforts to tackle climate change. Povlsen told the Sunday Times Magazine: “In the future, you should have to prove that you are carbon-neutral, that you’re not subtracting from the natural world, and I run a fashion business, so it’s challenging, right? I think there has to be a different kind of a firm way of measuring a company’s tax, in relation to the natural world and impact.” Povlsen has acquired about 230,000 acres covering 13 Scottish estates and harbours visions for a 200-year “rewilding” plan.

Pandemic puts further pressure on pension schemes

The Telegraph examines the financial impact of the COVID-19 crisis on pension scheme deficits. Close to one in 10 schemes allowed employers to defer contributions during the pandemic but this has now reduced to less than 5%, according to a client survey by Isio. Meanwhile, the new Pensions Schemes Bill is expected to discourage trustees from investing in riskier assets in pursuit of returns. However, Baroness Ros Altmann warns: “If you stop the schemes from buying so called higher risk assets you’re forcing companies to put much more money into pensions and making the company’s business weaker than it needs to be”. The regulator says it is too early to predict the outcome of consultations on a new funding code but Baroness Altmann says higher costs for companies are “inevitable” and that she plans to mount further resistance in the House of Lords. Meanwhile, LCP partner Sir Steve Webb says the Government may take a pragmatic view and quietly delay major changes if the economic picture darkens and insolvencies rise as furlough comes to an end.

Don’t let Covid-19 bust your business!

It will if your cash flow dries up, either sooner or later.

The Credit Protection Association (CPA) has been assisting thousands of UK businesses to get paid since 1914. We have seen many financial crises, this one will be particularly deadly for suppliers for sometime to come.

CPA eases cash from tardy debtors – Efficiently, Effectively, Economically and Ethically. Above all tactfully, because maintenance of goodwill is paramount.

To meet the needs of creditors in the current crisis, we have designed a “critical care” package especially tailored for the situation.

  • The annual package costs start at very low rates
  • A minimum performance warranty is provided
  • Several complimentary services included

Clients instruct CPA on-line via their PC or phone, completely user-friendly. Your late paying customers are told to pay you direct (not to us).

A very recent report shows a 23% increase in the number of unpaid invoices since March 11th THIS YEAR – are you getting a build-up of late payers?

Right now, overdue accounts must be a concern and CPA has a great track record of encouraging slow-payers to pay their suppliers quickly.

It takes less than 17 minutes to see how you would benefit, do you have the time now?

No face-to-face meeting required – just call Peter Uwins, CPA’s National Sales Manager, on 020 8846 0000 (business hours) or email today.

When you see your money come in, you will be so glad you used CPA.

Do you sell on credit?

With pressures on the cash flow it is essential that you stay on top of the credit limits you grant customers and watch carefully for any late payments.

Those customers will look for the easiest option to boost their cash-flow. Don’t let it be you.

You can’t just assume your customers can and will pay you eventually, no matter how big their name is.

It is essential to have credit management systems in place to monitor and check your customers credit worthiness.

It is also best practice to use a trusted third party like CPA to make sure you are paid on time by customers, no matter how good a name they have.

About CPA

The Credit Protection Association can help!

Formed in 1914, CPA has been providing credit management services to SMEs for over 100 years.

At the Credit Protection Association, we provide first class credit information that can help you avoid being over extended to customers who are at risk. Our monitoring service can flag up warning signs long before the end, giving you the chance to adjust and reduce your exposure. We provide recommended credit limits and credit scores on a traffic light system and can help you set appropriate credit policies for your customers.

We regularly publish lists of the latest insolvencies but by then it is too late. Our credit reports however predict approximately 96% of company insolvencies long before they arrive.

Companies in trouble usually have very bad cash flow and they try to deal with it by delaying payment to their suppliers, increasing your exposure to them.

If you supply on credit, help us help you identify the risks.

Why use a third party collector?

As a third party collector, we can also get your payments prioritised over those who are not as hot on collections. When your customer receives a letter from the Credit Protection Association regarding their outstanding account, they are going to want to get that resolved as a priority. Our overdue account recovery service can get your unpaid invoices to the top of their “to do” list and get your invoice paid.

Over the years we have collected billions in overdue invoices for our customers.

Our debt recovery and credit management services give our members the financial freedom needed to grow and prosper, while our new Late Payment Compensation department could unlock hidden potential and offer the compensation needed to springboard your business to success.

You might be hesitant about contacting a debt collection agency. What are they going to be like?

Can they help your particular type of business?

There is no need for concern. CPA are courteous, helpful and very probably have had direct experience of working with your type of business.

Debt collection agencies are not all alike.

Success lies in both recovering money and keeping customers happy. The Credit Protection Association was founded in 1914 and has helped tens of thousands of UK businesses to collect outstanding payments and reduce the risk of incurring bad debt. We believe that creditors deserve to be paid for the work or goods they have supplied but we fully understand the need to maintain
the best possible relationship with customers!

At The Credit Protection Association, we provide solutions, advice and back-up in all areas relating to the supply of services or goods on account. Client-members receive everything they need from a single source to reduce debtor days and write-offs.

The Credit Protection Association has helped has assisted tens of thousands of UK businesses with their credit control requirements, since the First World War.

We are polite, firm and efficient when it comes to recovering outstanding debt.

“We have used CPA for a number of years now. The website is easy to navigate around with lots of helpful reports. The staff are always at hand and very friendly. CPA has helped us reduce our debt over the years and keep track of potential issues with our customers.”
~ CPA client in Buckinghamshire

“The service from CPA has proved to be everything that you said it would be. We have already seen a huge benefit. We have had a number of overdue accounts paid promptly and directly to us. It is also a huge weight off our mind to know that once we have passed an overdue payment over to you, you take care of everything whilst keeping us informed.
~ Credit Controller client in Warrington

The Credit Protection Association – Prompting Punctual Payments – Ethical, Effective, Efficient, Economical collections


Ready to speak to an advisor?

For help or advice on credit management, entirely without obligation.

Call us today

0330 053 9263

CPA is passionate about late payment

The Credit Protection Association has been protecting smaller firms against poor payment practices for over 100 years.

We are extremely passionate about breaking the late payment culture that holds back the UK economy and threatens many SMEs, with cash flow difficulties being the single biggest killer of Britain’s small businesses.

If you were regularly paid late we can help. Those former customers used you to boost their own cashflow, regularly paying you late.

As a result you had extra costs, you had the distraction of having to chase payment, you had opportunity costs because your capital was tied up in their late invoices.

Under little used legislation, you are entitled to compensation for those late payments.

You put up with the PAIN – now claim the GAIN!

Now you can boost your own cash-flow.

CPA can help unearth the those hidden treasures.

We have the technology to reveal the compensation you are due and we have the extensive experience and expertise to then turn those claims into cash.

Did you know that your business is entitled to a minimum of £40 for every commercial invoice paid late to you over the past 6 years?

How many of your invoices are paid late each month – 20, 50, 100 or more?

At £40 per invoice that’s claim of £57,600, £144,000, £288,000 plus interest. The more invoices the bigger the claim! 

At £100 per invoice it’s £144,000, £360,000, £720,000 plus interest.

Discover NOW the potential value of late payment compensation hidden in your sales ledger!

For over 20 years, CPA has calculated and recovered Late Payment Compensation on behalf of Clients!  

Yes, CPA can help you boost your business cash-flow.

Don’t let your bankers control you, contact CPA today.

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.

Read our blog here on how to crack down on the late payment culture.

Read our blog here on how to give late payers the slap they need.

The “Why” of the late payment culture.

New PM should walk the walk and back small firms over late payments

Paying late is “crack cocaine” to big business.

Late payment culture risks “spiraling out of control”

visit our late payment compensation page

See our full blog and FAQ on late payment compensation

Do you realise you could be sitting on a fortune?

Late payments often result in a cash flow crunch and leave SMEs in need of a cash injection.

If you sold B2B on credit then there may be a hidden source of capital you can call on.

If you fancy an extra bit of extra cash in your business, rather than jumping through hoops with your bank, you could look to uncover the resources from an unexpected source within your own business.

Not many are aware but there could be a hidden fortune within your business, sitting there, just waiting to be uncovered and released.

We can help you uncover the pile of gold, you didn’t even know you were sitting on.

If you trade with other businesses and were often paid late then you could be entitled to significant compensation.

Under little known and under-utilised legislation your business could be due huge amounts in compensation that you didn’t even know about.

Let’s be clear – this is not a way to weaken any customer relationships you value. It is one that identifies who’s been paying late and then recover the potentially significant sums in compensation using Late Payment Legislation from businesses where the relationship has already ended.

You can pick and choose who you want us to follow up – but once we’ve agreed which companies you’d like to pursue compensation from it’s a fast process and there’s no financial outlay to you whatsoever. My team at CPA put its expertise to work to recover the compensation due and fight late payment culture.

That compensation could provide the cash boost your business needed.

But don’t delay, that compensation evaporates if not claimed within six years of the late payment.

How can CPA help?

CPA has developed a unique technology to dig into your accounting records and discover the cash injection you are due by means of compensation. The software does all the hard work. Our software interacts over the cloud with over 300 different software packages, working directly with your accounts package, just so long as it’s stored on a computer.

We recognise that most companies do not have the resources to spend time on the identification and calculation of Late Payment Compensation. Our service can produce an Analyses within just a few days with (usually) less than 30 mins of co-operation from our clients. We work directly with over 300 accounting packages but can also work with bespoke accounts packages. Indeed, speed is essential as the oldest invoices may fall foul of the 6-year time limit.

Once the Sales Ledger Analyses is made available to clients, all that is required is that management decide which commercially sensitive ex-customers to remove from the list and return it to us.

CPA then uses its years of collection experience to explain and recover the Late Payment Compensation Claims. Clients do not handle any part of the recovery process as our team will take all communications from the companies against who the claims has been made. Often, it’s simply a case of explaining the legislation, sometimes we have to go all the way and enforce the legislation through the courts.

The result is that we are realising clients’ claims worth tens and sometimes hundreds of thousands of pounds which, of course, is pure net profit. You may also be among the recipients of “hundreds of thousands of pounds” should you elect to take advantage of our services.

We do the work, you receive the cash.

If you have supplied goods and services to businesses on credit and were regularly paid late then you could be due significant sums in late payment compensation.

We are talking to companies and unearthing claims in the hundreds of thousands from former business customers who paid them late. Large business customers who abused their power to inflict unfair and sometimes illegal payment practices.

We are helping business owners who are looking to boost the returns from their business before they retire. We are helping businesses who have lost major clients after years of loyal service to get properly compensated for systematic late payment. We are helping companies that were looking to close down, who looked insolvent and finding that cash injection they need to avoid insolvency.

Those former clients who regularly paid you late can finally be made to pay.

Ready to speak to an advisor?

For help or advice on credit management, entirely without obligation.

Call us today

0330 053 9263

The Credit Protection Association is a credit management company established in 1914. If you supply goods or services on credit then we can help you!

The Credit Protection Association – Prompting Punctual Payments – Ethical, Effective, Efficient, Economical collections.

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See all our latest news here!

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Read our blog here on how to crack down on the late payment culture.

Read our blog here on how to give late payers the slap they need.

25 excuses for late payment and how to get around them.

Read our Cash Flow Advice

Read about our overdue account recovery service

Read our blog – What is credit management?

Read our blog – How to select a debt collection agency

20 ways to avoid identity theft

see our blog – 15 steps to avoid invoice fraud

Overcoming 5 common reasons for disputed invoices

As insolvencies rise, could you spot these warning signs in your customers?

The Credit Protection Association – Prompting Punctual Payments – Ethical, Effective, Efficient, Economical collections.