During our recent webinar, more than 80% of attendees said they were concerned around customer insolvency and/or exposure to bad debts in the next 12-24 months.
Compared to the previous year, insolvencies are down by 40%, with commentary suggesting this points to businesses being artificially sustained by the Government support mechanisms. If your business is currently relying, or has relied, on Government support packages, ensure you have proper forecasting in place for when these are withdrawn to ensure a timely recovery.
If you are concerned about how to protect your business against the risk of insolvency, bad debts and cashflow impacts, you can watch our latest webinar on demand to hear from a panel of recognised finance, business, and legal specialists. Click here to watch the recording.
Any company that provides goods or services to other businesses on credit terms may benefit from Trade Credit insurance. Companies from small SMEs to major internationals can and do benefit from this type of cover.
Trade Credit insurance:
Our specialist Trade Credit team, The Channel Partnership, are here to help your business if you are concerned about poor cashflow management and/or bad debts. To see how your business could benefit from this cover, read The Channel Partnership’s case studies here.
To find out more about protecting your business during a period of economic uncertainty, please get in touch with our dedicated team:
020 7977 4800
srisenquiries@specialistrisk.com