The week completed, 23rd October 2015

Disappointing news from Tata Steel cutting around 1,200 jobs as a reaction to the competitive pressures from China & their ‘dumping’ of steel across the globe. Coincidentally the week sees an announcement from our Business Secretary, Sajid David, that the visit from the Chinese President would bring over £20bn of new business deals that would help’ support jobs throughout the country’. Not sure how much consolation this would be to those about to lose a job.

With the steady decline of steel comes a significant impact on support businesses and industries and one estimate suggests that every job within the steel sector supports five outside. The knock on effect is potentially damaging to many small businesses either directly or indirectly connected to the steel industry.

This type of industry, structural, change has happened before and the working world will undoubtedly adapt but in the short term businesses suffer either through loss of turnover or losses a consequence of customer insolvency.

The merits of credit insurance become evident where this type of industry upheaval leads to insolvencies. Businesses that insure their customers are protected, assuming they have operated within policy guidelines, thus minimising the impact. There is off course a loss of future turnover but the immediate impact is mitigated.

Credit Insurance can cost anything between 0.2% and 1% of turnover, and there will be exceptions at either end of this range. Not all businesses insure their customers, quite the opposite, which is odd in many ways. Businesses insure against all manner of liabilities but more often than not fail to insure arguably their most significant asset i.e their customers.

insurance against customer insolvency can be incorporated within an invoice finance facility or bought as a stand alone product, feel free to email with any queries


And finally six weeks ago today Darcy, a Guide Dog brood bitch gave birth to 8 puppies, today they head off to Guide Dog HQ to be innoculated and chipped before going off to spend a year being puppy walked after which full time training begins to turn them into Guide Dogs.

Guide Dog puppies