According to analysis by market insurer Atradius, a no-deal Brexit will cause short-term uncertainty, is likely to push inflation higher and will create trade frictions. This, according to their report, will supress the UK GDP and may push businesses insolvencies in the UK up by 14% when compared with an ‘smooth transition’ exit with an agreed deal. No deal will also affect the EU27 countries who will see a fall in GDP, but it will of course be much lower than in the UK market at an estimated 0.5% higher than with a deal. The effect on EU27 is still…

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The UK inflation rate fell to 2.1% in December, down from 2.3% in November, according to the Office for National Statistics. The rate is at its lowest in nearly two years, which is in line with analysts’ expectations.

The ease in inflation has been caused by a big fall in petrol prices with oil prices tumbling in the past few months. Hitting the lowest prices since April last year, the price of petrol fell by 6.4p per litre to 121.7p, while diesel fell by 4.6p to 131.9p, the weakest since July 2018.

However, these rates were offset by upward contributions…

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Bristol-headquartered company, Helm Construction has ceased trading after experiencing cash difficulties. The firm which operated mainly within the South West appointed administrators, Opus Business Services on 3rd December 2018.

The organisation, who had 50 members of staff, made redundancies before ceasing trading, leaving the majority of them left without a job before Christmas. Interestingly, after announcing their administration, Opus has received a number of expressions of interests to acquire the assets of the company.

Allister Manson, a partner at Opus said “Helm Construction was placed into administration on Monday (3rd December) and it effectively ceased trading.”

“We are talking to…

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On Friday 30 November the business press ran shock headlines about Kier’s emergency rights issue catching the market off guard. 

The Channel Partnership Director, Tom Rolfe explains the truth behind Kier's bombshell in his latest LinkedIn Article.

Read the full article here.

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The Insolvency Service has released the 2018 Q3 insolvency statistics containing the latest data on company insolvencies from July to September 2018. The main message of the report was that an underlying number of company insolvencies increased both on the previous quarter and when compared to the same quarter in 2017.

During Q3 a total of 4,308 companies entered insolvency; this included 3,083 voluntary liquidations and 741 compulsory liquidations. The figures show an increase in company insolvencies year-on-year, with Q3 showing an increase of 8.3% compared to Q3 in 2017.

The statistics showed that the construction industry had the highest…

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To mark the World War One Centenary this November, the coastal town of Portishead worked hard to raise £10,000 for the Royal British Legion by getting 100 local businesses to sponsor 100 Poppies.

Each poppy, one for each centenary year, was displayed on 100 of the 108 stone pillars of the Full Fathhom Five Sculpture at the marina to create one giant poppy to be displayed throughout the remembrance period. We were absolutely delighted to sponsor a poppy for £100 to support this significant remembrance period and it was fantastic to be a part of such a unique campaign. 

The money raised from the campaign…

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Our Director, Tom Rolfe recently wrote an article for the Construction News magazine detailing soaring bad debts. The article also shows that credit insurance claims in the construction sector are at an all-time high. 

Read more on the latest Construction News article from Tom Rolfe below:

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We just wanted to let you know that much valued and long standing Office Manager Hilda will be retiring this September. Her final day on 30th September will mark the end of more than 12 years with The Channel Partnership and 21 years in credit insurance, as she sets off to embrace retirement with her husband and embarks on
more than one trip of a lifetime!

While it will be a big adjustment for the office to get used to life without Hilda, we’ve had plenty of time since finding out to ensure that her departure will be as hassle-free…

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The Creditsafe Quarterly “Watchdog” report makes interesting reading for Q2 2018. Construction is reported to have bounced back in Q2 after the bad weather of Q1 caused delays and a drop in output. In April, May and June this year, the performance of the sector was mixed. Despite the increase in sales, 888 construction businesses went bust during these three months and the trend of falling profits continued amongst companies filing their latest accounts during this quarter.  

From the perspective of credit insurance the figures are not rosy; in Q2, businesses in the sector were hit with a total…

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Hugo Ambler-Shattock, year 10 pupil at Gordano School, has just finished a week’s work experience with The Channel Partnership and has concluded his time with us by delivering us a great new strapline for the business.

Hugo’s main task was to complete a project analysing our own internal data and filed accounts for each of our credit insurance clients to check our theory that companies use credit insurance as a tool to help them achieve higher turnover and profitable growth. Hugo’s report showed that in the aggregate, turnover amongst our entire credit insured customer base increased by 38% over a…

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