Covid19 lock-down business news update 18 May 2020.
18 May 2020.
James Salmon, Operations Director.
The Covid19 lock-down continues and we are having to make do in a new normal.
Here are CPA we want to share the business news stories we have seen that we think will affect our members and readers. Many of us are busy fighting to protect our businesses and therefore might have missed some of the news that could impact small businesses, their owners and those that sell on credit.
Covid-19 general news
The UK has become the latest focus of Covid-19 vaccine hopes as AstraZeneca ims to make as many as 30 million doses available to the U.K. by September, and has committed to delivering 100 million doses this year, if its vacine- which is already being studied in humans – is successful.
Both the U.K. and Italy In their latest updates reported the fewest deaths since March, while France conversely saw the most fatalities in three weeks.
Italy and Spain are among a number of European countries that are set to further ease their coronavirus lockdown restrictions from Monday. Most businesses in Italy, including bars and hairdressers, will be free to reopen after more than two months of a nationwide lock-down. Spain is also set to relax its restrictions outside of Madrid and Barcelona, with groups of up to 10 people free to meet together. The measures follow consistent drops in the numbers of reported daily deaths.
Denmark announced its first day since March without a single death from covid-19. The country had imposed a strict lock-down, in contrast to its much-watched neighbour, Sweden, but was also one of the first to subsequently loosen restrictions. The number of new reported infections has been falling too.
The Chinese government fired six senior officials in the north-eastern province of Jilin, which is at the centre of a new outbreak of infections in China.
Markets.
After a turbulent week shares in the FTSE 100 finished Friday on a positive note buoyed by data from China that offered fresh prospects for growth. Industrial production in China grew by 3.9% year-on-year which was more than anticipated. The index finished 58 points higher at 5799.
Germany’s economy slumped in the first quarter at its steepest rate since 2009 with worse expected by mid-year, but it is weathering fallout from the COVID-19 better than other EU states where outbreaks have been more disruptive. German GDP fell by 2.2% in the first three months of the year, the fastest quarterly contraction since the financial crisis of 2007-09, due to covid-19 lockdowns. The German index rose by more than 1% on Friday on the news. Deutsche Bank has forecast that the German economy will shrink 14% in the second quarter and will end 2020 9% smaller than at the start of the year.
American retail sales suffered a second straight month of record declines in April as the covid pandemic kept Americans at home, putting the economy on track for its biggest contraction in the second quarter since the Great Depression. Retail sales fell 16.4% to $404 billion. Online Sales however grew 21.6%.
The chairman of the Federal Reserve, Jerome Powell, warned that economic recovery in the US may take until the end of next year, and added “For the economy to fully recover people will have to be fully confident, and that may have to await the arrival of a vaccine,” . Mr Powell said more fiscal stimulus could be needed to prevent greater long-term damage to the American economy.
The Pound was weighed down by comments from BoE chief economists Andy Haldane, who said that negative rate was “something we’ll need to look at – are looking at – with somewhat greater immediacy.”
Oil Prices touched a one and a half month high on Friday amid signs demand for crude was picking up, with China reporting increased refinery runs and rounding out a week of bullish news on the supply front.
Gold Prices gained for a fourth straight day on Friday, hitting a more than three-week high as rising U.S.-China trade tensions added to fears about the global economy already reeling from the covid-19 pandemic.
Brexit
The UK said on Friday that “very little progress” had been made in the latest Brexit trade negotiations with the EU. The negotiations were described as ‘tetchier’ by one source. The UK and EU remain far apart on the most divisive key issues on securing a trading relationship.
OBR chief expects slow recovery
Office for Budget Responsibility (OBR) director Robert Chote says Britain is unlikely to see a swift economic recovery in the wake of the covid-19 crisis.
He says the UK should “expect a slower recovery than the v-shaped” rebound that some analysts have predicted, suggesting that the economy may face “permanent scarring” as a result of the pandemic.
“I think you’re likely not going to see the economy bouncing back to where we expected it otherwise to be by the end of the year…but instead a rather slower recovery,” he said. He told the BBC’s Andrew Marr Show: “The fact debt goes up doesn’t necessarily mean you have to have the sort of austerity that followed the financial crisis … Much more important to that is whether you have scarring of the economy – if the economy is permanently smaller you get permanently less tax revenue.”
Mr Chote added that a “post financial crisis-style, extended period of austerity is not a done deal,” while noting that tax rises could be an option for the Chancellor.
BoE economist in unemployment warning
Andy Haldane, the Bank of England’s (BoE) chief economist, has warned that Britain is facing an unemployment crisis, with up to half the workforce set to see incomes hit by the covid-19 pandemic.
He said that more than half of the 33m strong workforce is currently unemployed, furloughed or working fewer hours as a result of the shutdown.
He added that the “scarring experience” of unemployment in the early 1980s was the “very reason” he got into economics and public policy, warning “we’re going back to that, basically.”
Mr Haldane says there is a need to “find a way of reabsorbing all of that labour as quickly as possible in good jobs.”
He also said that the BoE is weighing options such as negative interest rates and expanding the scope of quantitative easing “with somewhat greater immediacy” as it looks to boost the economy.
Think-tanks support steeper public spending
Free-market think-tanks have backed public spending increases to confront the coronavirus outbreak and state-funded investment to boost recovery, with the Adam Smith Institute, the Centre for Policy Studies, the Institute of Economic Affairs and Policy Exchange supporting intervention to rescue the economy.
They also believe the Treasury should examine tax-cutting measures to promote innovation and entrepreneurial activity.
Tom Clougherty, head of tax at the Centre for Policy Studies, comments: “I’d usually be wary of big public investment schemes. But with borrowing costs very low and little prospect of crowding out private investment, I think the pros outweigh the cons.”
Spike in IVAs drives up personal insolvencies in April
Total personal insolvencies increased eight percent to more than 10,300 during April, compared to the same month last year, driven largely by a near 40 percent surge in IVAs
Over 300,000 firms on emergency loans, but “unsustainable debt” levels could hit £100bn
More than 300,000 businesses have now benefited from £14 billion in government-backed loans, according to Treasury figures, but a trade body has warned that unsustainable debt across private firms could surge beyond £100bn
Pandemic sees firms turn to tech
Victoria Ward in the Sunday Telegraph looks at how the coronavirus pandemic may drive shops and restaurants to “embrace technology in ways they had not previously considered” as they look to reopen with measures in place to ensure minimal contact between people.
Paul Martin, head of retail at KPMG, who says social distancing “is here to stay”, comments: “The core principle is, how do you avoid as much contact as possible? Technology will very much come to the fore.”
Small firms call for delay to immigration rule rethink
Small business have written to Home Secretary Priti Patel, calling for a delay to new immigration rules they warn will be “impossible” to implement as the impact of the coronavirus crisis remains uncertain.
As of January 1 working visa applications will be decided on a points-based system recognising education level, English language skills and occupation.
In a joint letter to Ms Patel, a number of small firms say having to comply with expensive new requirements when taking on staff from EU – including having to pay an Immigration Skills Charge of up to £1,000 a year for each employee – could be “disastrous” for SMEs.
Warning that the new system would have imposed a “huge challenge” on small businesses even without the pandemic, signatories say the challenges brought about by COVID-19 “makes it impossible” to prepare for the new immigration system.
Support packages ‘leave small firms behind’
SMEs have warned that the Government’s financial rescue packages have “left behind” millions of small firms, arguing that the Government furlough scheme and business loan guarantees are not sufficient to stop around half a million small firms failing due to the covid-19 crisis.
Milan Pandya of Blick Rothenberg notes that “a sizeable portion of SMEs do not qualify for some or all of the Government measures, particularly start-up businesses.”
He adds: “The other key issue is that those furloughed must stop working. For sole director/shareholder businesses this means that the company effectively needs to stop operations.”
Self-employed reminded to use SEISS
HMRC has urged self-employed workers to apply to the Government’s new Self-Employed Income Support Scheme if they have not already done so. To be eligible, workers need to have filed a tax return for the tax year ending April 5, 2019, before April 23 this year. They must also have traded in the tax year just ended and intend to trade during the current tax year.
What shape will the recovery take?
City AM ’s Harry Robertson looked on Saturday at forecasts for Britain’s recovery from the economic blow being dealt by the coronavirus pandemic, with some saying a V-shaped recovery that sees a steep decline followed by a sharp rebound is on the cards, while others foresee a W-shaped recovery where a rebound is followed by a fresh recession prompted by a second wave of COVID-19 and measures to tackle it.
The Bank of England has pointed to a scenario where GDP falls 14% this year before climbing 15% in 2021, regaining its pre-coronavirus size in H2 of next year.
Capital Economics predicts GDP will fall 12% in 2020 before rebounding 10% in 2021; Goldman Sachs believes the economy will shrink 8.5% this year before growing 7% in 2021; while KPMG sees a 7.8% slide in GDP in 2020 and a rebound of 8.4% next year.
Insolvency rate set to surge
Ric Traynor, executive chairman of Begbies Traynor, has warned that there is likely to be a surge in insolvencies when the courts return to full operation and Government support schemes are wound down.
He said: “The major catalyst for businesses going bust is creditor pressure, that they can’t pay wages – the Government is paying those – or the banks saying they want their money back and calling in loans.”
He added: “When that creditor pressure disappears, the tough decisions are put off, the can is kicked down the road. We might not see the rise until September, but overall we will see an increase, there is no doubt in my mind about that.”
Figures show that there were 1,196 corporate insolvencies in England and Wales during April – 17% fewer than the number recorded in April 2019. The Insolvency Service attributed the decline in part to the lock-down on the court system as liquidations need a winding up order gained from a court by a creditor, shareholder or director.
FRP ‘well positioned’ amid coronavirus pressures
Joanne Hart in the Mail on Sunday’s Midas column considered the climate for FRP Advisory, saying challenges firms are facing in light of the COVID-19 crisis “are likely to spell good news for one corner of the economy – insolvency practices.”
She notes that while far smaller than firms such as PwC and Deloitte, FRP “manages to punch well above its weight” and, as a business that generates most of its money from companies in trouble, “is well positioned for the coming months”.
Ms Hart adds that while insolvency firms often draw criticism and are “accused of profiteering from companies in trouble”, FRP “tries to be more sympathetic and prides itself on talking straight and acting fair”.
Begbies set for business boom
The Mail on Sunday’s Midas column looks at Begbies Traynor, saying that while advisory work may drop off, gains from the insolvency arm should more than outweigh any slowdown on the consultancy side, adding that “it is likely to see business boom as companies fall by the wayside.”
The paper also notes Begbies Traynor’s Red Flag Alert, which showed 509,000 British firms were in significant distress in Q1, saying the number is expected to rise “substantially” through the year.
State contracts awarded without public tender
The Guardian reporte don Saturday that contracts worth more than £1bn have been awarded to private companies dealing with the coronavirus pandemic. With the Government suspending standard rules so contracts can be issued “with extreme urgency”, other firms have not been given chance to bid for the work.
Furlough rule sees directors ‘punished’ over accounting
A number of company directors who furloughed themselves have discovered they are not eligible to receive state grants under the Coronavirus Job Retention Scheme because of their use of a routine accounting method.
The Telegraph said on Saturday that company directors often leave their tax affairs until the end of the tax year on April 5 so as to avoid hiring an accountant all year round. However, this means many will not have submitted payroll information to HMRC before the furlough cut-off date of March 19.
Craig Driver of Goldblatts said those who chose to delay their salary submissions to HMRC until the end of the year “are being punished and unfairly excluded because of a simple convention in accounting.”
Majority of UK public supports windfall taxes
A YouGov poll shows that 53% of people support a windfall tax on companies that have thrived during the covid-19 pandemic, while 61% back a wealth tax for those with assets exceeding £750,000.
Tax rethink could leave Britons £906 worse off
With the Office for Budget Responsibility warning that Government borrowing could hit £298.4bn by the end of the year due to the coronavirus pandemic and Chancellor Rishi Sunak reportedly considering income tax rises, the Taxpayers’ Alliance has warned that such a move could leave taxpayers more than £900 a year worse off.
With it suggested that the basic rate of income tax could climb from 20% to 25%, the independent economic think-tank calculates this would leave Britons out of pocket to the tune of £906.45 per year on average – or £75.54 a month.
The Taxpayers’ Alliance said the average income tax contributions would increase from £3,625 to £4,532 per year. Duncan Simpson, research director at the TaxPayers’ Alliance, said this would be “a disaster for every family in Britain” and “a hammer blow”, arguing that reducing tax rates instead would “get the economy moving”.
Economists warn against tax hikes
Economists have warned MPs that increasing taxes to cut the deficit would hurt the economy and risk extending a recession brought about by the covid pandemic. This came after a leaked Treasury document predicted state borrowing could exceed £300bn this year and suggested spending cuts and tax hikes may help balance public finances.
Karen Ward of JP Morgan Asset Management told MPs on the Treasury Select Committee that considering such measures at this point “does more harm because it adds to the uncertainty”. She added: “If you are a small business thinking about taking a loan to continue trading, and on top of it have to think about repaying it with higher tax bills, it will hinder that recovery.”
Jagjit Chadha, director of the National Institute of Economic and Social Research, said: “The appropriate response to a large, temporary increase in public expenditure is tax smoothing”, adding: “We will do it at some point in the future, but to talk about it now would unduly restrain demand further.”
Former Bank of England policymaker Adam Posen said the most important thing is “to get the economy so it is growing faster than the debt is growing,” adding that low interest rates and the management of the Bank of England means this “seems very possible in the next few years.”
Opinion: It’s not the time for tax increases
Liam Halligan in the Sunday Telegraph looks at the impact the coronavirus crisis will have on public finances and the cost of support measures, with the Office for Budget Responsibility this week saying the annual budget deficit is set to hit £298bn.
Mr Halligan says that while Treasury officials are lobbying for tax hikes and spending cuts, “this is no time for chunky tax rises” and argues that “Whitehall pressure to hike levies should be fiercely resisted.”
He suggests taxes must remain low, urging the Government to instead take advantage of low borrowing costs to channel cash into growth-boosting infrastructure projects.
Meanwhile, in the Sunday Times, David Smith suggests “nobody sane would suggest that tax rises are the right thing to do when the economy is emerging from its deepest recession in modern times,” adding that “in the short term, talk of higher taxes should be safely put to one side.”
Writing in the same paper, James Coney considers the role taxation could play as the Government faces “a £300bn lock-down hangover.”
Sunak could look to tax to ease deficit
On Saturday the Times’ David Byers looked at the measures Chancellor Rishi Sunak could roll out to pay for a soaring national deficit amid the coronavirus crisis, noting that a Treasury document leaked last week pointed to options including a 1% increase in income tax, with it shown that this would generate £5.8bn a year.
Nimesh Shah at Blick Rothenberg believes that income tax could rise as much as three percentage points on the basic and higher rates and five percentage points on the additional rate.
Mr Byers said capital gains tax rates could go up to 28%, inheritance tax could be reformed, higher taxes could be imposed on landlords’ rental profits and higher-rate tax relief on pension contributions could be abolished.
Elsewhere, Andrew Grice in the Independent said “when the fiscal reckoning comes” Mr Sunak should consider measures including raising taxes on wealth rather than income and reducing tax relief of pensions for higher rate taxpayers.”
Fraud warning over pandemic
Fraudsters are using the ongoing COVID-19 pandemic to target potential victims, with Action Fraud saying more than £2m has been lost to coronavirus-related scams since early February.
One example seen by the Telegraph involved a text message claiming that HMRC were offering a “goodwill payment” tax refund of £258 in light of the pandemic, with a link for recipients to click
Homes sales jump as market opens
Analysis by property market website View My Chain shows 906 homes were sold on the day the housing market reopened, while 1,883 properties were listed for sale.
While the total was still far short of 4,000 average number of daily sales seen before the coronavirus outbreak, it was double the daily average recorded during the lock-down.
Rightmove saw almost 5.2m visits on Wednesday, while Halifax reported a 36% increase in mortgage applications.
Dyson tops Sunday Times Rich List
Sir James Dyson has been named top of the Sunday Times Rich List for the first time.
This came as his wealth grew by £3.6bn over the past year, hitting £16.2bn. Analysis by the Sunday Times shows the overall wealth of the 1,000 richest people in the UK is down by £29bn on last year at £743bn, while £54bn has been wiped off of the total in two months due to coronavirus.
Where it had been estimated in February that the number of billionaires would rise to nearly 160, the number has fallen to 147 due to the pandemic, a decline of four.
The analysis also reveals that at least 63 people to have made the list have sought to furlough some of their staff under the Government’s job retention scheme, including 20 billionaires and five of the country’s 10 richest people.
Meanwhile, a record 25 female billionaires have made the list.
Don’t let Covid-19 bust your business!
It will if your cash flow dries up, either sooner or later.
The Credit Protection Association (CPA) has been assisting thousands of UK businesses to get paid since 1914. We have seen many financial crises, this one will be particularly deadly for suppliers for sometime to come.
CPA eases cash from tardy debtors – Efficiently, Effectively, Economically and Ethically. Above all tactfully, because maintenance of goodwill is paramount.
To meet the needs of creditors in the current crisis, we have designed a “critical care” package especially tailored for the situation.
- The annual package costs start at very low rates
- A minimum performance warranty is provided
- Several complimentary services included
Clients instruct CPA on-line via their PC or phone, completely user-friendly. Your late paying customers are told to pay you direct (not to us).
A very recent report shows a 23% increase in the number of unpaid invoices since March 11th THIS YEAR – are you getting a build-up of late payers?
Right now, overdue accounts must be a concern and CPA has a great track record of encouraging slow-payers to pay their suppliers quickly.
It takes less than 17 minutes to see how you would benefit, do you have the time now?
No face-to-face meeting required – just call Peter Uwins, CPA’s National Sales Manager, on 020 8846 0000 (business hours) or email nsm@cpa.co.uk today.
When you see your money come in, you will be so glad you used CPA.
Do you sell on credit?
With pressures on the cash flow it is essential that you stay on top of the credit limits you grant customers and watch carefully for any late payments.
Those customers will look for the easiest option to boost their cash-flow. Don’t let it be you.
You can’t just assume your customers can and will pay you eventually, no matter how big their name is.
It is essential to have credit management systems in place to monitor and check your customers credit worthiness.
It is also best practice to use a trusted third party like CPA to make sure you are paid on time by customers, no matter how good a name they have.
About CPA
The Credit Protection Association can help!
Formed in 1914, CPA has been providing credit management services to SMEs for over 100 years.
At the Credit Protection Association, we provide first class credit information that can help you avoid being over extended to customers who are at risk. Our monitoring service can flag up warning signs long before the end, giving you the chance to adjust and reduce your exposure. We provide recommended credit limits and credit scores on a traffic light system and can help you set appropriate credit policies for your customers.
We regularly publish lists of the latest insolvencies but by then it is too late. Our credit reports however predict approximately 96% of company insolvencies long before they arrive.
Companies in trouble usually have very bad cash flow and they try to deal with it by delaying payment to their suppliers, increasing your exposure to them.
If you supply on credit, help us help you identify the risks.
Why use a third party collector?
As a third party collector, we can also get your payments prioritised over those who are not as hot on collections. When your customer receives a letter from the Credit Protection Association regarding their outstanding account, they are going to want to get that resolved as a priority. Our overdue account recovery service can get your unpaid invoices to the top of their “to do” list and get your invoice paid.
Over the years we have collected billions in overdue invoices for our customers.
Our debt recovery and credit management services give our members the financial freedom needed to grow and prosper, while our new Late Payment Compensation department could unlock hidden potential and offer the compensation needed to springboard your business to success.
You might be hesitant about contacting a debt collection agency. What are they going to be like?
Can they help your particular type of business?
There is no need for concern. CPA are courteous, helpful and very probably have had direct experience of working with your type of business.
Debt collection agencies are not all alike.
Success lies in both recovering money and keeping customers happy. The Credit Protection Association was founded in 1914 and has helped tens of thousands of UK businesses to collect outstanding payments and reduce the risk of incurring bad debt. We believe that creditors deserve to be paid for the work or goods they have supplied but we fully understand the need to maintain
the best possible relationship with customers!
At The Credit Protection Association, we provide solutions, advice and back-up in all areas relating to the supply of services or goods on account. Client-members receive everything they need from a single source to reduce debtor days and write-offs.
The Credit Protection Association has helped has assisted tens of thousands of UK businesses with their credit control requirements, since the First World War.
We are polite, firm and efficient when it comes to recovering outstanding debt.
“We have used CPA for a number of years now. The website is easy to navigate around with lots of helpful reports. The staff are always at hand and very friendly. CPA has helped us reduce our debt over the years and keep track of potential issues with our customers.”
~ CPA client in Buckinghamshire
“The service from CPA has proved to be everything that you said it would be. We have already seen a huge benefit. We have had a number of overdue accounts paid promptly and directly to us. It is also a huge weight off our mind to know that once we have passed an overdue payment over to you, you take care of everything whilst keeping us informed.
~ Credit Controller client in Warrington
The Credit Protection Association – Prompting Punctual Payments – Ethical, Effective, Efficient, Economical collections
Ready to speak to an advisor?
For help or advice on credit management, entirely without obligation.
Call us today
0330 053 9263
CPA is passionate about late payment
The Credit Protection Association has been protecting smaller firms against poor payment practices for over 100 years.
We are extremely passionate about breaking the late payment culture that holds back the UK economy and threatens many SMEs with cash flow difficulties being the single biggest killer of Britain’s small businesses.
If you were regularly paid late we can help. Those former customers used you to boost their own cashflow, regularly paying you late.
As a result you had extra costs, you had the distraction of having to chase payment, you had opportunity costs because your capital was tied up in their late invoices.
Under little used legislation, you are entitled to compensation for those late payments.
Now you can boost your own cash-flow.
CPA can help unearth the those hidden treasures.
We have the technology to reveal the compensation you are due and we have the extensive experience and expertise to then turn those claims into cash.
Yes, CPA can help you boost your business cash-flow.
Don’t let your bankers control you, contact CPA today.
The Credit Protection Association – Prompting Punctual Payments – Ethical, Effective, Efficient, Economical collections
Do you realise you could be sitting on a fortune?
Late payments often result in a cash flow crunch and leave SMEs in need of a cash injection.
If you sold B2B on credit then there may be a hidden source of capital you can call on.
If you fancy an bit of extra cash in your business, rather than jumping through hoops with your bank, you could look to uncover the resources from an unexpected source within your own business.
Not many are aware but there could be a hidden fortune within your business, sitting there, just waiting to be uncovered and released.
We can help you uncover the pile of gold, you didn’t even know you were sitting on.
If you trade with other businesses and were often paid late then you could be entitled to significant compensation.
Under little known and under-utilised legislation your business could be due huge amounts in compensation that you didn’t even know about.
Let’s be clear – this is not a way to weaken any customer relationships you value. It is one that identifies who’s been paying late and then recover the potentially significant sums in compensation using Late Payment Legislation from businesses where the relationship has already ended.
You can pick and choose who you want us to follow up – but once we’ve agreed which companies you’d like to pursue compensation from it’s a fast process and there’s no financial outlay to you whatsoever. My team at CPA put its expertise to work to recover the compensation due and fight late payment culture.
That compensation could provide the cash boost your business needed.
But don’t delay, that compensation evaporates if not claimed within six years of the late payment.
How can CPA help?
CPA has developed a unique technology to dig into your accounting records and discover the cash injection you are due by means of compensation. The software does all the hard work. Our software interacts over the cloud with over 300 different software packages, working directly with your accounts package, just so long as it’s stored on a computer.
We recognise that most companies do not have the resources to spend time on the identification and calculation of Late Payment Compensation. Our service can produce an Analyses within just a few days with (usually) less than 30 mins of co-operation from our clients. We work directly with over 300 accounting packages but can also work with bespoke accounts packages. Indeed, speed is essential as the oldest invoices may fall foul of the 6-year time limit.
Once the Sales Ledger Analyses is made available to clients, all that is required is that management decide which commercially sensitive ex-customers to remove from the list and return it to us.
CPA then uses its years of collection experience to explain and recover the Late Payment Compensation Claims. Clients do not handle any part of the recovery process as our team will take all communications from the companies against who the claims has been made. Often, it’s simply a case of explaining the legislation, sometimes we have to go all the way and enforce the legislation through the courts.
The result is that we are realising clients’ claims worth tens and sometimes hundreds of thousands of pounds which, of course, is pure net profit. You may also be among the recipients of “hundreds of thousands of pounds” should you elect to take advantage of our services.
We do the work, you receive the cash.
If you have supplied goods and services to businesses on credit and were regularly paid late then you could be due significant sums in late payment compensation.
We are talking to companies and unearthing claims in the hundreds of thousands from former business customers who paid them late. Large business customers who abused their power to inflict unfair and sometimes illegal payment practices.
We are helping business owners who are looking to boost the returns from their business before they retire. We are helping businesses who have lost major clients after years of loyal service to get properly compensated for systematic late payment. We are helping companies that were looking to close down, who looked insolvent and finding that cash injection they need to avoid insolvency.
Those former clients who regularly paid you late can finally be made to pay.
Ready to speak to an advisor?
For help or advice on credit management, entirely without obligation.
Call us today
0330 053 9263
The Credit Protection Association is a credit management company established in 1914. If you supply goods or services on credit then we can help you!
The Credit Protection Association – Prompting Punctual Payments – Ethical, Effective, Efficient, Economical collections
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The Credit Protection Association – Prompting Punctual Payments – Ethical, Effective, Efficient, Economical collections