Increase in Insolvencies, Small Business Funding Support and Credit Checks - BFB Epsd 205
By Rob Warlow
Following a recent spate of high-profile company administrations, we open this Bulletin discussing the Euler Hermes Global Insolvencies Index which has revealed how in 2018 the UK is set to witness the second largest global increase in insolvencies. When linked with the latest bank lending figures, it looks like 2018 is turning out to be a challenging year. Alternative lenders are continuing to announce the allocation of funds specifically focused on supporting small businesses. We look at funding pots set aside by Iwoca and Metro Bank designed to assist regional and national small businesses. Do you credit check customers you give credit terms to? To close this Bulletin, we have a reminder of why it’s important to check your customer’s creditworthiness before you extend credit terms.