Figures show that the number of Business CCJ rose in 2017
Figures released in 2017 by the Registry Trust have shown that Businesses in England and Wales faced the first rise in CCJ in 8 years. There are a number of ways you can help to protect your business from becoming one of the statics and good processes and procedures for credit management is one of them.
The figures outline the details below:
- CCJs against all businesses 2017 (compared with 2016)
o Total number: 105,633 (up 30 percent)
o Total value: £315.1m (up 10 percent)
o Average value: £2,983 (down 16 percent)
o Median: £1,010 (down 29 percent)
- High Court judgments against businesses 2017
o Total number: 53 (down 22)
o Total value: £106.3m (down 54 percent)
o Average value: £2m (down 35 percent)
o Median: £66,186 (down 48 percent)
The figures show that although the number of CCJ has risen the value has decreased, this is an opportunity for companies to avoid a CCJ by communicating and agreeing payment terms early on instead of choosing to avoid the issue.
As a business offering companies credit having a robust internal process for producing and chasing invoices can help you to identify a problem payer early on in the process.
If you think you may need some help with your processes we have Toolkit available that may be able to help you. For a limited time only these are available FREE of charge so why not visit our blogs to see which ones might help you.
