With many business sectors suffering uncertainty, it is important to consider credit insurance to protect your business from bad debts.
Bad debts can put your financial future at risk. Imagine one of your customers went into insolvency and couldn’t pay you… How would it affect your business, cash flow and staff? How would you get your money back? How would you make up for lost profits?
Or, decide that despite your best credit control endeavours, they just won’t pay you. “Disinclination to pay” is included in our credit insurance coverage where the insurer will take over the chasing of late payments, whilst settling the debt to you in the interim.
If one of your customers ultimately goes into liquidation, it is more than likely you will get nothing, due to priorities in the debt chain.
Credit insurance helps protect your business against the risk of bad debt so that you can confidently get on with running and growing your business – and this won’t mean disaster for you.
Have you considered what would happen to your business if one or more of your key customers defaulted on their payments?
Despite the uncertainties in today’s marketplace, granting credit can mean the difference between missing out on an opportunity and successfully securing competitive leads.
With credit insurance, you can safeguard your business against the failure of a customer to pay their trade credit debts, allowing you to grow profitably and in confidence.
Unpaid invoices are sometimes as much as 35% of a company’s assets.
Did you know there were 3,495 company insolvencies in 2015?
Click here to view the official Government statistics.
Credit insurance protects businesses from loss due to failure to pay contractual debt, insolvency or bankruptcy. Non-payments can weaken your company and be a cash-flow challenge.
Insolvency, administration or receivership are all quite common trends particularly in today’s retail sector. With credit insurance, if your clients don’t pay, you’re protected!
Protect your business against the risk of bad debt and late payments
Yutree has access to leading credit insurance markets including cover for “disinclination to pay”. Think of it as your financial safety net against bad debts.
To find out more please contact Yutree Insurance on 01638 660651