Global credit insurer Coface has predicted that the UK will see around a 10% increase in UK insolvencies throughout 2018. During their annual conference on country and sector risks, Coface also advised that Global trade made a leap of +4.4% in 2017. It was also revealed that only 13 countries ended 2017 in recession compared with 25 in 2016.
Coface has predicted that global growth throughout 2018 could peak in some emerging countries and in advanced countries a downward trend in insolvencies has been recognised. Although global growth is expected, it doesn’t come without its risks; Coface has warned of three major risks including greater supply constraints, China banking risks and political risks.
The United Kingdom is expected to see an increase in insolvencies of up to 10% following the persistent political uncertainties surrounding Brexit.
If you are worried about business insolvency and the effects it could have on your business, please contact one of our specialist advisors who can talk to you about the Credit Insurance options available to you.