Looking for work? Debt collectors are in demand in the UK

An opportunity may have arisen for the estate agents and luxury car salemen put out of work by the recession.

Provident Financial, which lends to low-income households in Britain, plans to hire more debt collectors this year as an increasing number of consumers turn to the company as banks shun riskier customers.

The business may not be widely known in more affluent parts of the country, but Provident's agents already visit one in twenty British households. Customers of the doorstep lender borrow smaller amounts, on average around £400, which is paid back in weekly installments, with a sizeable "fixed charge" attached.

For every £100 borrowed, Provident's customers on average pay back £3 a week for 57 weeks. That amounts to £171 paid back on a £100 loan.

Provident aims to hire between 200 and 250 people this year, around 80 of whom will go door-to-door to retrieve outstanding debts. Collection accounts for "99pc of the man hours," according to chief executive Peter Crook.

Unlike its rival Cattles, Provident has been able to keep its level of loan arrears and impairments steady over the course of 2008, despite the worsening economy, by tightening up its lending criteria and turning away more applicants. The business has continued to grow despite this because of the increase in people approaching Provident for loans.

Banks, credit card companies and non-secured lenders have retreated from serving lower-income households since the summer of 2007, leaving an "increasingly under-served" market for Provident.

WS Atkins to cut 1,000 jobs

WS Atkins, the design and engineering group, is to cut approximately 1,000 jobs as a result of "uncertainty" in its Middle East and UK markets.

The company, which has been appointed the official engineering design services provider to the London 2012 Olympics, said its building design arm has been "severely impacted" by the economic conditions and the deferral of projects by the Learning and Skills Council.

The Middle East business had performed well until "confidence in the region was significantly impacted by the global economic slowdown," it added.

WS Atkins, whose business revolves around infrastructure projects, had been eyeing expansion in the buoyant Middle East as the cash-rich emirates such as Dubai and Abu Dhabi embarked on spending sprees in new buildings and transport links. However, projects are now being put on hold as the financial crisis grips the area.

WS Atkins will axe 5pc of its workforce, which totalled 18,600 last year, with 260 already cut in the UK and 200 in the Middle East. However, Keith Clarke, the chief executive, insisted its general performance and cash generation remained "good".

"The economic environment is difficult and will remain challenging, but we continue to have confidence in the underlying strength of our business," he added.

Mr Clarke said WS Atkins expects performance in the year to March 31 to be in line with expectations.

However, analysts, who are expecting annual pre-tax profits to increase from £91m to £98m, warned that the job cuts suggest WS Atkins will find 2009/2010 tough.

"In [the full-year to 2010], we are assuming that profits will start to fall," said John Lawson at Investec.