The Insolvency Service reported that 2024 saw over 25,000 of registered company insolvencies in the UK and Allianz Trade are expecting half the world to have seen double digit growth in bankruptcies compared to 2023, as indicated in the Allianz Trade Global Insolvency Report. While this may lead many companies to adopt a defensive stance in 2025, those with a well-devised strategy have the potential to thrive in this challenging landscape. By utilising tools such as trade credit insurance, businesses can safeguard themselves against insolvency risks while simultaneously seeking opportunities to broaden their customer base.
Transform Risk into Growth
Strategic businesses can overcome the risks associated with rising insolvencies. When operations are protected from non-payments, businesses can confidently offer credit to new clients and enter new markets. This in turn allows businesses to focus on increasing sales and profits.
As an experienced specialist UK credit insurance broker, FinCred is uniquely equipped to find insurance solutions that enhance this credit management strategy. A trade credit insurance policy protects your cash flow while allowing you to benefit from expert analysis of customer creditworthiness. This enables you to offer larger credit lines to reliable buyers, instilling confidence in expansion efforts while minimising the risk of bad debts.
Allianz Trade demonstrate how this tool can be used to target and achieve growth:
Navigate insolvency risk while setting your business up for growth in 2025. Contact the FinCred team today to get a no-obligation quotation.
