With the ongoing economic uncertainty of Brexit, a recent report by Atradius has found that trade credit has been steadily increasing YOY, with 45% more credit transactions for B2B sales than in 2018.
Considering the surge in credit purchases and the current economic climate, Atradius predict a steep 10% increase in insolvencies this year, followed by a further 5% increase in 2020.
Consequently, UK businesses are in need of adopting a range of credit management techniques, including credit insurance, to mitigate risk.
“With insolvency numbers and claims now mirroring those last seen in 2009 and all the Political uncertainty abounding with Brexit talks ongoing and now the country faced with an election before Christmas, we believe things are going to become more difficult before they get better.” – Jonathan Smith, Strategic Director – Trade Credit & Surety.
As one of the UK’s leading insurance providers, we offer solutions to protect against insolvency or default exposures. We are here to discuss your specific needs, export related or otherwise.
Read the full article here.
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