With the government announcing its backing for trade credit insurance to boost economic recovery, everyone is asking the same questions. What is it? And how does it help?
Trade credit insurance allows small businesses to manage their risk effectively without having to take on huge debts. This means, with economic uncertainty, trade credit will allow you to trade as you please with no risk of not receiving payment. This backing by the government will look to allow small business to keep growing.
With economic problems, the risk of insolvency and businesses being unable to pay invoices are increasing rapidly. It is now essential that insurance is taken out due to the increased risk of this.
Trade credit insurance is one of the most important insurances for small business in an uncertain world. Not only does it allow for businesses to trade as usual without the administrative and financial headache of unpaid invoices, but it will also give business owners peace of mind that their business is protected against economic uncertainty.
Have any questions? please don’t hesitate to contact one of our team