2020, as a year, has dealt surprise after surprise to the vast majority of us. Unfortunately, many of the surprises haven’t been all too positive. This has been the year of coronavirus and Covid-19. Since the start of the year, the deadly virus and resultant disease have spread rapidly around
Europe is the birthplace of industrial civilization and the beginning point of the new casino culture. With most gaming jurisdictions based in Europe, it makes sense for most of the top online casinos with live dealers to benefit from them and the general conditions for online gambling in the European
The pandemic has truly tested our relationships with our neighbours that a new survey by Share to Buy revealed more than half of UK homeowners (65%) are closer to their neighbours more than ever before post lockdown. Around 15% admit their neighbours were total strangers before lockdown, but with a
One of London’s largest co-living operators has revealed data that shows a marked increase in renters ditching single-lets in favour of co-living; a 312% increase recorded in the months of July and August, when compared to January and February of this year (pre-lockdown). The data, released by Built Asset Management (BAM), relates
Pre-tax profit has fallen by more than 80 per cent in the full-year results for MJ Gleeson following the impact of Covid-19 but the listed housebuilder has pledged to invest in the business to support its target of building 2,000 new homes in 2022. The company reported a pre-tax profit
NEW FIGURES SHOW CONSTRUCTION INDUSTRY CONTINUING TO RECOVER FROM COVID-19 – BUT OUTPUT BELOW PRE-PANDEMIC LEVELS: INDUSTRY COMMENT Commenting on the new construction output figures published by the ONS today which show a third successive month of growth,Clive Docwra, Managing Director of leading construction consulting and design agency McBains, said: “Today’s figures will be welcomed by
Centurion, the trusted PPE manufacturer is encouraging anyone buying face screens, also being marketed as visors, cough guards, face guards and sneeze protection, to ask five questions first. What is the optical rating? To keep frontline workers protected when the COVID-19 pandemic hit, the production of lower quality single use
Throughout 2020, the gaming industry has seen a wave of new, innovative and groundbreaking releases, both in terms of new gaming titles, and better platforms for enhances gameplay. A few things, however, have remained the same, with one of the most notable being that mobile gaming continues to steal the
Sports can be one of the most enjoyable hobbies that you’ll ever indulge in. With countless different sporting activities to pick from and enjoy with friends and family members, there’s no doubt that it can become a lifelong hobby. Perhaps you’re not feeling too keen on the NHL one day
Overall level of insolvent business debt across UK drops by 10.7% during last quarter Insolvent debt in construction and property sectors rises by 2.2% to £371m* Construction and property sectors account for highest levels of insolvent debt in the UK The impact of COVID-19 has seen a sharp drop
2020, as a year, has dealt surprise after surprise to the vast majority of us. Unfortunately, many of the surprises haven’t been all too positive. This has been the year of coronavirus and Covid-19. Since the start of the year, the deadly virus and resultant disease have spread rapidly around the world, causing a huge number of deaths and widespread illness. In a bid to slow the spread of the virus until we develop a vaccine, social isolation and social distancing measures have been put in place around the world. For many of us, months have been spent in our own homes, with many countries telling their citizens for months that they should only be leaving their homes for essentials, such as food shopping, medication or to briefly exercise. Still now, the majority of countries around the world are still implementing social distancing rules, where people have to wear masks and maintain a two metre distance between each other, sometimes only seeing people who they live in the same household with. This, of course, has had a profoundly negative impact on many businesses. Countless businesses haven’t been able to operate in this manner and have gone under. Many businesses are struggling. Countless people have lost their jobs through company collapses and companies no longer being able to afford their services. If your business is up and running, you may be worried that your company won’t make it through this pandemic. But try to be positive! There are a number of things that you can do to try to keep things up and running and work your way through this. Here are some that you might like to keep in consideration. Adapt to Remote Working Well If your company can operate remotely, chances are you’ve been operating on a remote basis for a little while now. But remote working isn’t the key to success. Making sure your staff can work well remotely is. A switch to remote work (and a sudden one at that) isn’t ideal for you or your staff. Learning to operate and work on a remote basis needs adaptations that can take a little time to implement and get a grip of. Here are some you really need to consider. Communication Communication between team members is key to any company’s success. But communicating in an office space or other commercial premises is much simpler than having a full team communicate from different locations. In a commercial premises, staff can chat, hold meetings in meeting rooms and generally get their thoughts, feelings and delegations out quickly and easily. The good news is that there are now various online programmes and applications that can help everyone to communicate almost as simply from their own individual locations. Programmes and apps like Zoom allow multiple people to video call at once, working as a great replacement to meetings. Software like Microsoft Teams have instant chat features, which staff can use in place of chatting. Make sure to prioritise communication. You need to keep your team together if you want everyone to be as collaborative and productive as possible. Security Security is another factor that you really need to focus on. Of course, security is always important in business. But when you are in an office space, staff can work from a network that you have provided. They can work from devices that you have provided. They can work on an internet connection you have provided. They can be monitored by you. When they work from home, this could all go out of the window. This is potentially dangerous for your company, as it leaves your company vulnerable to cyberattack. What’s worse? Cyber criminals are aware that most companies are still getting used to operating on a remote basis and are targeting many small businesses, knowing about these vulnerabilities. A successful cyber attack could result in a security breach, which could result in leaked data, data related issues for employees and customers and serious damage to your reputation. Steps to take to maximise your security while staff work remotely include: Staff cybersecurity training – staff need to be trained in cybersecurity. The more aware they are of common cyber attacks (such as phishing), the less likely they are to fall for them. This will significantly reduce the opportunities that a cybercriminal will have to infiltrate your systems. Moreover, you can also trust sapphire.net for the best cyber security services within the UK. Spam Blocking Software – of course, your staff are much less likely to fall for phishing emails if the emails don’t make their way to them in the first place. This may sound excessive, but spam emails genuinely do account for 50% of all emails and some can be pretty convincing. Spam blocking software can help to effectively filter out spam and prevent it from getting into your staff members’ inboxes. Secure data storage – all of your data should be stored as safely and securely as possible. It’s a good idea to migrate to aws, which will ensure that all of your data is safely secured within a Cloud system. A VPN – VPN stands for “virtual private network”. It is essentially a network that you and your staff can connect to via the internet. It provides your business with much better security than staff operating on their own networks, which could be less secure. Adapt Your Commercial Premises and Operating Procedures If your business is returning to a commercial premises, you’re still going to have to operate according to government guidelines. This is likely to involve implementing social distancing measures and various other measures to protect your staff and members of the public. Following these measures doesn’t only ensure that you are operating legally. It also ensures that customers feel safe and comfortable shopping with you and will encourage them through your doors. Here are a few steps you could take. Ensure all staff and customers are wearing masks – provide all of your staff with masks and
Europe is the birthplace of industrial civilization and the beginning point of the new casino culture. With most gaming jurisdictions based in Europe, it makes sense for most of the top online casinos with live dealers to benefit from them and the general conditions for online gambling in the European states. Apart from being controlled and monitored, most of the online casinos open to Europeans offer the most modern live dealer tools and the new sports. Whenever a new tech vendor appears, it typically focuses on the European market before attempting to spread to other areas. In order to provide the best service to their users, software providers will combine generic live casino games with dedicated tables and environments designed exclusively for unique operators and their respective audiences. Technology Behind live casino studios The equipment used in live streams is called Optical Camera Recognition. This technique involves capturing any key factor in the gaming room, and then using a video link to broadcast games to casino patrons. If players choose to position their bets, they will use a console that shows on their computer screen. Generally, there is also a live chat operator that gives players a chance to ask for assistance. Optical Camera Detection Technology catches any significant movement, such as the shuffling of cards, the turning of the circle or the delivery of cards. This makes the experience very believable and gives players a chance to enjoy a betting journey that comes true to the one land-based casinos offer to their customers. Key Elements of live casinos In order to make the live-dealers betting experience more practical and exciting, live casinos use a variety of core elements that help enhance the simulated betting of players. Of course, depending on the type of game and the digital framework on which it works, there might be some extra features. Cameras The most critical aspect of live dealer games is to catch any crucial step in the game. This is achieved with the aid of web cameras that used to be very large, but with the advent in technology, modern cameras are smaller and do a better job of capturing the main aspect of live dealer games. Wheel and Table Many of the games you’ll be able to play at live casinos are variants of classic table games. That’s why the table is another main component of Live Dealer Casinos gaming experience. Since roulette is also a very popular game among players, its live casino models have a wheel that is an exact replica of those you are used to seeing at land-based casinos. Both tables and wheels are fitted with sensors that help translate the outcomes of each round into data that can be accessed by casino patrons. Game Control Unit This machine is about the size of a shoebox, but it’s so critical that there wouldn’t be any live casino games if there wasn’t a Game Control Device. Monitor Another critical aspect of a live casino is the camera. It allows dealers and players to keep track of the game. Dealers use the console to see how many players have entered the game and to watch the bets they have made. Online players, on the other hand, can use the console to see when they can put bets on the table and when they are finished. Live Dealers It’s the live dealer who makes the game incredibly practical and enjoyable. Using real people as dealers are what improves the realism of a game. This way players feel like they’re putting their money on a real land-based casino. Thanks to innovative interactive casino technologies, participants have the ability to track every move of a live dealer. This way, players will be confident that the game is fair and that every aspect of the game is played in compliance with the rules. More and more live casinos offer various casino games and employ live dealers that speak foreign languages. This way, different players will experience their favourite games in their native tongue.
The pandemic has truly tested our relationships with our neighbours that a new survey by Share to Buy revealed more than half of UK homeowners (65%) are closer to their neighbours more than ever before post lockdown. Around 15% admit their neighbours were total strangers before lockdown, but with a large portion of the country being housebound over the last few months, it seems most of us have spent time getting to know next-door a little better. For those renting, 24% described next-door neighbours as strangers before lockdown, with 54% saying they’re much closer now. Across the UK, 56% of Brits felt they have gotten to know their neighbours better thanks to an increased sense of solidarity from clapping for carers every Thursday to lending a helping hand with tasks during the outbreak. This new connection to our neighbours means around 50% of people say they’d be happy to shop for a neighbour. They’d also be willing to walk their dog, mind their house or give them a lift, with a few even prepared to cook up a meal for them. Interestingly, research shows that those who rent are twice as likely to avoid their neighbours as those who own their property. Living in the same location for an extended period, it seems homeowners are more likely to make an effort to get to know their neighbours better, with only 5% admitting to dodging the people next door, compared to 13% of renters. Quickest Chats Across the UK, most people don’t mind bumping into their neighbours for a quick chat, but 62% of time-short Brits say it had better be quick! Neighbours in Greater London and Kent are the most likely to want shorter catch-ups with their neighbours, with 65% of Londoners saying ‘I’m up for a chat but keep it quick!’, followed by 62% of people in Kent. Friendliest Counties Neighbours in Buckinghamshire and Berkshire were close even before lockdown began, with 23% admitting they were on excellent terms with their neighbours and knew them well before the pandemic started. However, those living in East Sussex have seen the most significant change since lockdown began, with 17% of people describing their neighbours as total strangers before the pandemic started, but 10% admitting that post-lockdown, they’ve become better friends than ever! Plants over pets People in Greater London, Surrey and Essex are least likely to ask a neighbour to check in on their pets or plants while away. Around 12% of people in Surrey would rather have a neighbour water their plants than feed their pets, with less than 1% of people willing to trust a neighbour with an animal family member. This trend is similar across every county, with more Brits happy to let their neighbours tend to a plant than care for a beloved pet. Most Helpful Places When it comes to helping out the people who live around us, those in Buckinghamshire and East Sussex are most willing to lend a hand. At 68%, locals in Buckinghamshire said they’d be happy to shop for a neighbour, walk their dog or give them a lift, but would prefer to avoid cooking or minding their house. The same goes for East Sussex at 61%.
One of London’s largest co-living operators has revealed data that shows a marked increase in renters ditching single-lets in favour of co-living; a 312% increase recorded in the months of July and August, when compared to January and February of this year (pre-lockdown). The data, released by Built Asset Management (BAM), relates to new rental contracts taken out within co-living properties across the capital between 1st July – 31st August 2020. According to the data, there has been a 312% increase in renters coming from single-let properties, ie. those inhabited independently, signing rental contracts for a room within a co-living property operated by BAM, when compared to the months of January and February. These months were given as a comparative as they were pre-lockdown measures imposed on the rental market, therefore giving an accurate snapshot of the pre-Covid 19 co-living market. BAM asks all prospective tenants seeking co-living accommodation anecdotally for their reasons for leaving their current housing situation. According to those leaving single-let accommodation between July-August, the top three reasons given were as follows: Seeking more financially viable accommodation option – 32% Seeking co-living property to avoid feeling of isolation – 25% Seeking flexibility with a view to potentially purchasing afterwards – 20% Furthermore, the data revealed the average age of tenants ditching single-let accommodation in favour of co-living to be 36.1 years old; 8 years older than BAM’s average age of tenant of 28.2 years old. Alex Gibbs, Co-Founder and Director of BAM, explained the data: “Typically, the bulk of our incoming occupants are young professionals either moving from existing houseshare accommodation in the city or entering London’s rental market for the first time. Post-lockdown, however, we have seen a real “Covid-effect” coming into play with a huge increase in renters vacating single-let accommodation in favour of co-living, a trend which shows no signs of slowing down throughout September. Undoubtedly, changes in personal and work circumstance as a direct result of Covid-19 have led to many renters seeking a more financially-viable route in the form of shared accommodation; ultimately a more affordable option than single-lets. What’s perhaps more interesting, though, is that a relatively high proportion of our new tenants have directly cited trepidation about the feeling of isolation as their main reason for exiting the single-let market. The negative impact of lockdown on mental health appears to have had a direct effect on rental behaviour. It is also interesting to note that one in five new tenants have cited increased flexibility as a key reason for selecting this type of accommodation, with a medium-term plan to purchase a property rather than to continue renting. We will want more data in order to make stronger inferences here, however, initial signs suggest that the lockdown and the wider pandemic have caused Londoners to re-evaluate their priorities and potentially their attitudes towards renting in the long term.”
Pre-tax profit has fallen by more than 80 per cent in the full-year results for MJ Gleeson following the impact of Covid-19 but the listed housebuilder has pledged to invest in the business to support its target of building 2,000 new homes in 2022. The company reported a pre-tax profit of £5.6m for the year ended 30 June 2020, down 86 per cent from £41.2m in 2018/19. Revenue reduced to £147.2m from £249.9m. The volumes of units sold was down 29.9 per cent to 1,072 units from 1,529 the year before. MJ Gleeson said the 2020 results reflected the impact of Covid-19 on its historically critical fourth quarter. However, a strong start to 2021 had been made, with record order book and work in progress, and high levels of demand. The housebuilder emphasised it had a “strong platform for future growth” and re-affirmed target of reaching 2,000 units per annum in 2022. Chairman Dermot Gleeson said: “First and foremost, and on behalf of my board colleagues, I would like to say how grateful we are to our employees, subcontractors, suppliers and customers in helping us to respond quickly to the Covid-19 crisis. These results, whilst a significant reduction on the prior year, reflect their efforts and the overall resilience of the business. “We are currently seeing strong demand and expect this to continue through the year as the demographics of our customer base and the nature and price point of our product helps to insulate us from the impacts of rising unemployment, the end of the stamp duty holiday and the forthcoming changes to the Help to Buy scheme. “We have therefore re-affirmed our interim target of delivering 2,000 homes per annum in 2022 and will prioritise investment in the business to achieve it.” MJ Gleeson is headquartered in Sheffield with its Strategic Land division based in Fleet.
NEW FIGURES SHOW CONSTRUCTION INDUSTRY CONTINUING TO RECOVER FROM COVID-19 – BUT OUTPUT BELOW PRE-PANDEMIC LEVELS: INDUSTRY COMMENT Commenting on the new construction output figures published by the ONS today which show a third successive month of growth,Clive Docwra, Managing Director of leading construction consulting and design agency McBains, said: “Today’s figures will be welcomed by the construction sector as a sign of its continuing recovery, but in reality they need to be viewed in the context of an industry that experienced a record 40% drop in output at the height of the lockdown. “Construction is still a long way from being out of the woods and the upturn is extremely fragile, reflected by the fact the figures show that new work decreased by 9.7% in the three months to July 2020, with private new housing work alone falling by 17.0%. “The big concern for the industry is if there’s a second spike and a further lockdown. The government needs to do all it can to ensure the sector maintains its recovery. “On top of this, of course, a potential no deal at the end of the Brexit transition period is making investors nervous about committing to new projects. The Prime Minister may want the industry to ‘build, build, build’ but that’s difficult when many investors are saying ‘wait, wait, wait’ and holding off embarking on new developments until there’s greater clarity.”
Centurion, the trusted PPE manufacturer is encouraging anyone buying face screens, also being marketed as visors, cough guards, face guards and sneeze protection, to ask five questions first. What is the optical rating? To keep frontline workers protected when the COVID-19 pandemic hit, the production of lower quality single use face screens was fast tracked. These met the immediate goal of reducing the risk of transmission of COVID-19 by providing an effective barrier to the eyes, nose, and mouth but they weren’t tested to the complete EN166 standard. Consequently, many of these face screens don’t provide the optical clarity that could usually be expected from an EN166 face screen and anyone wearing one all day is at risk of visual side effects such as eye strain – this effect may increase if you wear spectacles. This issue can be avoided by choosing a face screen with Class 1 EN166 certification such as the Classic Browguard System from Centurion. Anti-fog options are also available. Is it flexible? A common complaint among disposable face screen users is they can’t be easily adjusted or flipped up to consider a change of working position. While one of the benefits of face screens is that users don’t need to take them off to communicate clearly it is still useful to have built in flexibility. The Classic Browguard System from Centurion, for example, has a flip-up face screen and flexible headband to ensure a personalised fit. Is it comfortable? Anyone who has to wear PPE for extended periods will tell you comfort is key. When choosing a face screen consider what features are included that improve comfort levels which will encourage workers to put the screen on and keep it on. For example, as well as featuring a flexible headband, the Centurion Classic Browguard System features a fabric sweatband and dual strap system to ensure maximum comfort and enhance its personalised fit. Meanwhile the ConceptAir Helmet and Flip Up Visor Kit combines Centurion’s comfortable visor design with one of the lightest helmets on the market to ensure feel-good comfort even for extended periods of use. Does it feature impact protection? A serious issue associated with lower quality face screens is that users may assume they have impact protection when they don’t. If you need impact protection, such as for undertaking grinding in industrial applications, choose EN166 compliant face screens which have grade B impact rating such as Centurion’s Classic Browguard System and the ConceptAir Helmet and Flip Up Visor Kit. These systems are also compatible with other PPE making it easier to ensure users stay fully protected. What are its environmental credentials? Single use face screens met an immediate need for front line workers but in the longer term they are bad news for the environment and your wallet. Reusable versions such as Centurion’s Classic Browguard System are easy to clean and last much longer making them far more economical and environmentally sound. Medical experts believe reusable materials pose no additional risk if they are routinely sanitised. Here’s some advice on how to keep your face screen clean. And finally, it’s important to remember that face screens are not mask replacements, but they can provide an added layer of protection against aerosol spread. A face screen can serve as a physical barrier to the particles you emanate when you breathe, and as a physical barrier to particles hitting you when someone coughs or sneezes. It protects not only the mouth and nose area but also the eyes, giving you a more complete physical barrier than a face mask. Face screens also prevent the wearer from touching much if not all of their face. The use of a face screen is also a reminder to maintain social distancing but allows visibility of facial expressions and lip movements for speech perception. Centurion has a range of EN166 face screens available on a five day dispatch. Contact Centurion today to find out more.
Throughout 2020, the gaming industry has seen a wave of new, innovative and groundbreaking releases, both in terms of new gaming titles, and better platforms for enhances gameplay. A few things, however, have remained the same, with one of the most notable being that mobile gaming continues to steal the show within the industry. With billions of users worldwide, and a staggering variety of titles from which users can cherry pick their favourites, and amass their own affordable and easy-portable libraries, tech firms and game developers alike are now investing more than ever into enhancing the mobile user’s experience, and solidifying the devices’ status as one of the greatest platforms on the market. Read more about some of the most significant signs that 2020 is on track to represent a significant year for the growth and continued popularity of mobile gaming. 1. Big Name Developers are Focusing on it More than Ever Given how central our mobile devices are to our everyday lives, it stands to reason that the biggest names in the gaming industry will be constantly seeking out new ways to bring the wider world of gaming to our fingertips – wherever we are, and whenever we want to play. Take, for instance, the wide variety of online slots at mansioncasino.com/nz, which have now been optimised – along with all of Manion’s browser games – to translate seamlessly onto a mobile gaming experience. This same move is reflected in the latest releases from console developers. Xbox’s latest project seeks to make all titles transferrable from console to mobile, in order to ensure that gamers never need to skip a beat when they are away from their set-ups. 2. It is Already Dominating the Global Gaming Industry Gaming represents an industry worth well over $150 billion, and mobile gaming has long been taking a significant slice of that revenue. By the close of 2019, for instance, $68.5 billion stemmed from the mobile gamer market alone, which accounts for more than 45% of the wider industry’s value. There are, of course, many factors that give mobile gaming an edge over other platforms. The versatility, ubiquity, and portability of the devices means that the vast majority of us have access to these games, and the lower (or non-existent) costs of app installations mean that, in spending less on each purchase, we are spending more over time. 3. Smartphone Companies are Improving New Phone’s Capabilities Just last week, MediaTek announced their latest chip designed specifically to enhance mobile gameplay, and dramatically improve upon the limitations of the small screen. Similarly, some of the latest releases – including the Samsung Galaxy Fold – feature advanced technology and higher ram. Most notably, however, it offers a larger screen on which to enjoy enhanced graphics, and to create a more immersive level of gameplay. The same can be said for smartphone companies across the board, as the competition for increasingly discerning customers grows more and more fierce with each passing year. Consider the fact that the average Brit will spend 120 hours each and every year on their smartphone; that, coupled with the knowledge that gaming comprises one third of all app downloads demonstrates just how lucrative the world of gaming is to phone developers. There are still a few months left of 2020, and yet we are already able to see a number of marked strides forward for mobile gaming. These are just a few of the ways in which mobile gaming is preparing to maintain its position as a leading force within the gaming industry, and time will tell how far it is able to go.
Sports can be one of the most enjoyable hobbies that you’ll ever indulge in. With countless different sporting activities to pick from and enjoy with friends and family members, there’s no doubt that it can become a lifelong hobby. Perhaps you’re not feeling too keen on the NHL one day so you decide to check out the latest soccer game or NBA. Maybe you’d like to explore extreme sports such as skateboarding and snowboarding, or perhaps you want to jump on the latest eSports gaming craze. Whatever you enjoy, sports offers a huge amount of variety. However, you also need to enjoy it responsibly because it can easily consume all of your time and money if you’re not careful. Be safe when participating in sports Even if you’re not doing something like skateboarding or snowboarding, it’s essential that you practice safety when engaging in sports. This means you should wear the right safety equipment, ensure that the area you play in is safe, and also make sure that you’re playing with people who aren’t going to be extremely rough and tackle you aggressively. Make sure you stay safe when enjoying sports so that you don’t injure yourself, and practice preventative measures to keep your body in good condition whenever you play. Having fun with fantasy teams and gaming There are a lot of gaming options when it comes to sports. Whether it’s placing a little bet on your favourite team for the thrill, enjoying a sports video game or even playing a fantasy league, there are lots of options for you to pick from. However, it’s important to enjoy this responsibly so that you don’t overdo it. For example, you should refer to websites like BetMGM if you’re going to play in fantasy leagues so that you can get a good idea of the best players and teams to pick. This will help advise you and give you a better understanding of how power rankings work. Similarly, you could remember that video games are a hobby to be enjoyed. Nowadays, you can often spend a lot of money creating fantasy teams in the latest FIFA, NBA and NHL games. While it can make you happy to get your favourite player, you should remember that the chances of getting them are incredibly low and that you should only spend disposable income on those games. Watching sports in moderation With so many different sports on television every day, it can often feel overwhelming to keep up with everything that’s going on. The way people watch sports is changing and switching to a mobile-dominated world, meaning that most people keep up with highlights and the latest news on their phone. Since all you need to do is unlock your smartphone and flick through, it can easily consume your time if you follow multiple sports. As such, we highly recommend that you moderate your sports viewing so that you don’t overdo it. Try and keep an eye on how much screen time you have and don’t hesitate to restrict yourself if you find that you spend way too much time watching sports.
Overall level of insolvent business debt across UK drops by 10.7% during last quarter Insolvent debt in construction and property sectors rises by 2.2% to £371m* Construction and property sectors account for highest levels of insolvent debt in the UK The impact of COVID-19 has seen a sharp drop of £189 million in the UK’s insolvent business debt during the last quarter, according to corporate distress data analysts Red Flag Alert. The firm’s ‘Write Off Report’ shows that total levels of insolvent business debt at 30thJune 2020 were £1.577billion, down 10.7% from £1.766bn at the end of March. At the same time, the construction and property sectors saw bad debt rise from £363million at the end of April to £371million at 30thJune 2020. The 2.2% rise in the last quarter compares to a decline of 5.3% in insolvent debt during the same period last year. Despite the contrasting year-on-year changes in construction and property, data analysts that compiled the Write Off Report caution that the financial effects of COVID-19 can’t be fully seen yet. Mark Halstead, a partner at Red Flag Alert, explains: “This quarter’s Write Off figures have been skewed by the COVID-19 measures introduced by Government and positive steps quickly taken by companies during lockdown. “This means the impact of the pandemic hasn’t yet been that pronounced on the construction and property sectors because struggling companies have been able to draw on financial support from the Government and provided with more breathing space by businesses they owe money to. “Our financial modelling since we started records in 2004 shows that the construction and property sectors typically operate with some of the highest levels of insolvent debt. The biggest risk these sectors are now facing is uncertainty around office-based working caused by the pandemic. If home working trends cause a significant long-term dip in demand for commercial property, it could burst this debt bubble.” Other sectors that saw rises in insolvent debt include retail, where levels during the last quarter increased by £6million (12.6%), while the manufacturing sector saw a 17.4% increase from £89.6m to £105.2m. Logistics saw a marginal change of +0.84%, taking debt levels to £62.3m at the end of June. Mark Halstead concludes: “We’re now coming to the end of the Government’s COVID-19 support and can expect businesses to enter a more protectionist mode as they fight for survival. With this in mind, it’s likely that overall insolvent debt in the UK will see a sharp upwards trajectory over the next six months.” DownloadThe Write Off Report. *£371million debt based on debt (12 months to 30th June 2020) in ‘construction’ and ‘real estate and property services’ sectors (see appendix). Appendix Total insolvent debt by sector for the 12 months to 30thJune 2020, compared to 12 months to 30thJune 2019 and 12 months to 31stMarch 2020. Sector 12 months to 30th June 2020 change vs 12 months to 31st March 2020 (%) change vs 12 months to 30th June 2019 (%) Automotive 26,207,165.29 -2.27 42.06 Bars & Restaurants 32,566,532.57 -12.63 37.02 Construction 258,992,969.50 0.57 37.97 Financial Services 199,404,178.41 14.19 10.67 Food & Beverages 32,042,123.25 4.25 -3.98 Food & Drug Retailers 8,636,733.89 3.27 -41.14 General Retailers 58,736,055.67 12.65 -37.06 Health & Education 21,151,409.40 8.87 4.70 Hotels & Accommodation 12,398,472.23 108.42 268.73 Industrial Transportation & Logistics 62,303,920.75 0.84 -21.47 Leisure & Cultural Activities 14,385,935.16 -12.74 8.47 Media 32,347,949.51 3.92 0.35 Not Available 44,146,572.93 9.54 -21.83 Other Manufacturing 105,273,016.29 17.43 30.52 Others – not reported 25,768,057.87 5.63 39.44 Printing and Packaging 10,156,207.78 -27.67 -30.34 Professional Services 57,414,715.53 -4.51 -13.78 Real Estate & Property Services 111,584,416.48 6.21 2.87 Sport & Health Clubs 6,043,245.90 -1.06 -56.13 Support Services 245,905,077.29 -47.55 -49.49 Telecommunications & Information Technology 71,717,398.52 -8.33 1.99 Travel & Tourism 9,101,343.55 79.05 175.23 Utilities 34,708,379.41 -10.94 34.54 Wholesale – not reported 96,153,240.38 -15.12 -30.02 TOTAL: 1,577,145,117.56 -10.71 -11.52
