CREDIT & BUSINESS FINANCE

In times of economic uncertainty, in order to trade confidently and successfully, you need to know that your customers can and will pay. Credit Insurance, often referred to as Bad Debt Insurance, protects your company against bad debts. It also helps to improve cash flow, increase profitability and facilitate sustainable business growth.

Every year, thousands of businesses become insolvent or cease to trade due to financial difficulties in an ever increasingly competitive and tough market. Credit Insurance is designed with you, the creditor in mind to ensure that you don’t fall victim to one of the thousands of businesses that will fail this year.

Credit Insurance is not just about replacement of cash after a loss, but also the reference point before trading with new customers. Credit Insurance can also act as a useful tool when searching for business finance solutions.

As independent Credit Insurance broker experts, we offer our customers access to the whole Credit Insurance market, including specialist and bespoke risk mitigation products. So, regardless of size or sector, we can provide you with a cost effective and flexible solution that strengthens your business and provides complete peace of mind.

If you would like a no obligation credit insurance quotation that provides you with an overview of the whole credit insurance market, contact us now to speak to a Credit Insurance specialist.

The main causes of business failure are:

1. The poor management of cash flow
2. Lack of management control
3. The loss of main trade accounts
4. Inadequate or inappropriate financing

To understand in greater depth why BUSINESSES FAIL, read more.

 

Solutions that fit

There are numerous reasons why businesses become Insolvent including excessive remuneration and uninsured losses arising but the most common cause remains the failure by management to manage their business. Where management takes a proactive stance, controls the situation and seeks advice where necessary, whilst they will not be immune to the possible downturns of the economy, they will be much more likely to survive.

We recognise that one product does not fit all and businesses have different requirements in credit management processes depending on their size. To find out how CBF can provide a credit insurance solution to meet the needs of your business, please click on one of the right-hand buttons.

 

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Case Studies

Sector: Construction | Turnover: £11M

An independent family owned building suppliers business with eight branches in Bristol, Stonehouse and Swindon. As suppliers to the construction industry, they are usually last in line for payment. 

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Sector: Construction | Turnover: £3.8M

Stephen Mallam is the accountant at one of the UK’s leading providers of thermal insulation to the building services industry. Working in the construction industry, he values the peace of mind that credit information provides, however he recommends it to all sectors.

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Sector: Timber | Turnover: £18M

A specialist timber and forest products company operates in a high value, lower margin industry, which in turn means that the credit risk is high compared to margins. However, this hasn’t prevented the company from trading successfully since it was established in 1975. On the contrary, it has gone from strength to strength throughout the years, extending its range to include manufactured garden products, log cabins and timber homes.

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Sector: Logistics | Turnover: £25.5M

How a company’s accounts are managed could mean the difference between business success and failure. Considering that 40% of the value of a typical company’s balance sheet is based on the sales ledger, extending credit to an unstable customer or trading on unfavourable terms could result in defaulted payments which choke cash flow. But what do well managed  accounts look like? One company that has got their credit firmly under control, is a specialist business relocation firm based in London.

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