If you run a business, it goes without saying that you will always be looking for ways in which to promote its growth. This might be through entering into new markets, taking on new clients, or simply expanding your team.
But for many businesses, the main obstacle to growth is acquiring additional business finance. As this can often be the deciding factor for expansion, finding the most effective way to secure finance is critical. Some businesses may be struggling to secure funding from lenders, as they have high-risk clients on their books or operate in unstable markets.
Here at The Channel Partnership, we believe that trade credit insurance is the most effective way of achieving the security and stability that is needed to acquire business finance – which can in turn help to promote business growth and create a more positive financial forecast for your business.
The range of benefits of using trade credit insurance through The Channel Partnership to support business finance include:
• Enabling businesses to sell to new customers, confident that any trade credit extended is insured.
• Providing reassurance to lenders that the debtor ledger is insured and therefore a stronger asset.
• Getting access to expert intelligence to expand sales to new customers and markets.
• Reducing bad debt risk to avoid impairment of cash flow.
• Endorsing “best practice” in credit management to meet high standards of corporate governance.
Trade credit insurance makes your business more credible and appealing to potential lenders. A recent article by CFO states that: “Credit insurance… usually indicates strong corporate governance, the ability to take smart risks, and an avenue to manage potential exposure”.
If you would like to find out more about how trade credit insurance can support your business finance, then get in touch with us today on 01275 817 320 or hello@the-channel-partnership.co.uk.