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Late payment issues for small businesses are constantly highlighted as a growing concern in the UK, as a lack of finance can leave many firms teetering on the brink of meltdown.

The recent announcement that Kent based Aylesford Newsprint has filed for Administration is further confirmation of the issues facing the recycling and waste management sector. This follows UPM’s announcement that it will be decommissioning one of its two newsprint machines in Deeside. So what are the issues facing the sector? Ben Stanyon, Senior Manager at Moorfields Corporate Recovery expands:

For some time there have been murmurs of trouble brewing for businesses connected to the UK’s offshore oil and gas industry and there is evidence of a notable uptick in the number of formal insolvencies across the sector. Given their proximity to the North Sea oil and gas fields, cities such as Aberdeen and Norwich rely heavily on the oil and gas industry for employment and inward investment. However, the supply chain extends across the UK so this is not an isolated regional issue.

Small businesses in the UK are losing an average of more than £2,600 each to cases of identity theft and card fraud, research from Experian has revealed.

Branching out into new markets overseas can provide a significant financial boost for small firms if done properly.