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You are insured against your customer's insolvency, or protracted inability to pay you.
Bad debt can be a reality for any company, large or small - no matter how good your credit control systems are.
By building upon your existing credit control procedures credit insurance can give you the confidence to trade at higher levels, in new markets at home and overseas, or with businesses you would otherwise avoid.
COVER CAN BE ARRANGED TO SUIT ALL SPECIFIC REQUIREMENTS
ACF can arrange cover- whether you are looking to protect
- WHOLE TURNOVER
- KEY ACCOUNTS
- CATASTROPHIC
- SPECIFIC ACCOUNT
Why not call us today on: 01480 471615
you can email us at: info@angliancommercialfinance.co.uk
or use our online contact form
WAGE GROWTH RISE Wage growth in the UK rose in the three months to February despite signs of a cooling jobs market before the introduction of higher payroll taxes and a lifting of the national living wage. The office of National Statistics said average weekly earnings growth, excluding bonuses, rose by 5.9% in a rolling three-month period to February, up from a revised 5.8% in the previous month.JUMP IN RETAIL SALES Retail sales rose in March driven by the warmer weather and families buying gifts for Mothers Day, signaling that consumer spending could be stronger over Easter, new figures show. According to KPMG and the British Retail Consortium (BRC) sales jumped by 11% on an annual basis last month, unchanged from Februarys rise and above the twelve-month average of 0.6% growth. Sales increased by 3.5%in March last year owing to the earlier Easter holiday.
UK ECONOMY GREW 0.5% IN FEBRUARY The UK returned to growth much faster than expected in February which has helped boost confidence in the economy. GDP expanded by 0.5% up sharply from zero growth in January revised up from a 0.1% contraction, the Office for National Statistics said.JOBSEEKERS CHASE FEWER VACANCIES The number of people looking for work increased at the fastest pace sine 2020 last month amid fewer job openings and a rise in companies carrying out redundancies. The availability of staff rose at its sharpest pace since December 2020 according to researchers from KPMG and the Recruitment and Employment Confederation REC.
BRITISH BUSINESSES CUT JOBS British businesses cut jobs at the fastest pace since the 2006 global financial crisis last month excluding the pandemic, a closely watched survey according to the flash purchasing managers index PMI. Februarys decline in employment is the largest since November 2022 and if the months that were skewed by Covid lockdown are excluded the biggest drop since the financial crisis.
BIG RISE IN FIRMS ON BRINKThere has been a record rise in UK businesses in severe financial distress as companies find it almost impossible to navigate the challenges they face according to an insolvency specialist. The number of businesses showing signs of critical stress rose by 50.2% quarter on quarter to 46853 in the final three months of 2024.Begbies Traynor said. Its red flag alerts showed that construction companies were facing the most significant challenges with 6830 businesses showing signs of critical distress. Consumer sectors also reported a jump of 76% in financial for the leisure sector and 48% in general retailing.
COSTS THREATEN ZOMBIE FIRMS
Tens of thousands of so- called "zombie" companies will fall prey to rising interest rates and inflation in the coming months according to the boss of Begbies Traynor. Ric Traynor, executive chairman of the insolvency specialist, predicted that highly indebted companies that have only managed to cling on thanks to cheap borrowing costs will fall over the next 18 months.