{"id":58100,"date":"2021-07-15T13:33:22","date_gmt":"2021-07-15T12:33:22","guid":{"rendered":"https:\/\/www.taxresearch.org.uk\/Blog\/?p=58100"},"modified":"2021-07-15T13:33:22","modified_gmt":"2021-07-15T12:33:22","slug":"the-bank-of-england-is-forecasting-a-bloodbath-amongst-small-businesses-this-summer","status":"publish","type":"post","link":"https:\/\/www.taxresearch.org.uk\/Blog\/2021\/07\/15\/the-bank-of-england-is-forecasting-a-bloodbath-amongst-small-businesses-this-summer\/","title":{"rendered":"The Bank of England is forecasting a bloodbath amongst small businesses this summer"},"content":{"rendered":"<p>The <a href=\"https:\/\/www.bankofengland.co.uk\/credit-conditions-survey\/2021\/2021-q2\" target=\"_blank\" rel=\"noopener noreferrer\">Bank of England has published its quarterly review of credit<\/a> in the UK. This of course matters: credit is largely about bank loans.<\/p>\n<p>This chart stood out:<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-large wp-image-58101\" src=\"https:\/\/www.taxresearch.org.uk\/Blog\/wp-content\/uploads\/2021\/07\/Screenshot-2021-07-15-at-13.26.33-550x343.png\" alt=\"\" width=\"550\" height=\"343\" srcset=\"https:\/\/www.taxresearch.org.uk\/Blog\/wp-content\/uploads\/2021\/07\/Screenshot-2021-07-15-at-13.26.33-550x343.png 550w, https:\/\/www.taxresearch.org.uk\/Blog\/wp-content\/uploads\/2021\/07\/Screenshot-2021-07-15-at-13.26.33-482x300.png 482w, https:\/\/www.taxresearch.org.uk\/Blog\/wp-content\/uploads\/2021\/07\/Screenshot-2021-07-15-at-13.26.33-768x478.png 768w, https:\/\/www.taxresearch.org.uk\/Blog\/wp-content\/uploads\/2021\/07\/Screenshot-2021-07-15-at-13.26.33-600x374.png 600w, https:\/\/www.taxresearch.org.uk\/Blog\/wp-content\/uploads\/2021\/07\/Screenshot-2021-07-15-at-13.26.33.png 1528w\" sizes=\"auto, (max-width: 550px) 100vw, 550px\" \/><\/p>\n<p>In essence, the chart shows the change in default rates by quarter. So, as is clear, small businesses have been not having a great time of late, whilst medium-sized ones have done well. Surprisingly, large businesses have been defaulting.<\/p>\n<p>But what really interested me was the red dots: they are the forecasts for the next quarter. The forecast is for an absolute bloodbath in the small company sector next quarter. So much for a recovery.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Bank of England has published its quarterly review of credit in the UK. This of course matters: credit is largely about bank loans. This<br \/><a class=\"moretag\" href=\"https:\/\/www.taxresearch.org.uk\/Blog\/2021\/07\/15\/the-bank-of-england-is-forecasting-a-bloodbath-amongst-small-businesses-this-summer\/\"><em> Read the full article&#8230;<\/em><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[35],"tags":[],"class_list":["post-58100","post","type-post","status-publish","format-standard","hentry","category-economics"],"_links":{"self":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/posts\/58100","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/comments?post=58100"}],"version-history":[{"count":0,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/posts\/58100\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/media?parent=58100"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/categories?post=58100"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/tags?post=58100"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}