This level of insolvency is understandable given that businesses have been hit hard by increased costs of energy and many will have higher wage bills too. Financing costs have also increased as interest rates have risen. This has led insolvency experts to predict that Britain’s army of ‘zombie firms’ will be wiped out as cheap borrowing comes to an end.
Clearly, an increase in the level of insolvencies means the chance of a bad debt amongst your own customer base is more likely. Why not gain a health check on your three largest customers? We’ll provide an overview of the credit risk attaching to your 3 biggest customers based on the view of a panel of our insurance partner underwriters. This will deliver valuable insights into credit risk, allowing you to make informed decisions about the level of credit offered to your top customers.
If you would like some help with this issue, then click on the link here and we will assess the risk of your three biggest customer exposures.