Peace of Mind
Credit Insurance for Your Business
When was the last time you stopped and asked these important questions?
- Right now, how much money is outstanding on your sales ledger?
- And just how much do you know about your customers' ability to pay you?
- Even more importantly... how badly would your business suffer if some of your largest customers failed to make those crucial payments to you? Could it make the difference between failure and survival of your business?
Couldn't happen to you, or could it? You see, over 50% of all insolvencies involve
customers who were previously prompt payers. Add to this the possibility that you
may have up to 60% of your assets linked to your sales ledger and you start to see
the potential problem. What's more, if you are an average company, each year you're
likely to lose more than 3 of your active customers because of financial distress,
insolvency, administration or receivership.
(Source: Credit Management Research Centre)
It's a scary thought but here's another fact for you. If a customer of yours goes
into liquidation, in the vast majority of cases, you won't get paid a thing... and
if you are lucky enough to get something, as a trade creditor it's usually around
5%.
(Source: Association of Business Recovery Professionals)
If your customers don't pay you - we will.
