Grow your business safely

Sometimes your own success can be the biggest danger. Many advisers warn businesses to be on their guard for over-trading and it remains a trap that is never far away when the economy is growing.

Saying ‘no’ is the hardest part of running a business when attractive opportunities come along, especially for small businesses. Investors want to hear about growing returns and the bank wants to see turnover rising. Your employees may have bought in to the excitement of a great leap forward too.

The harder you work to win new customers, the better your product, the more chance there is that an order will come which is larger than any you have received to date. Or an invitation to tender for a project that would double your turnover for the year.

When that situation comes along, there are several solutions to manage the risk and take advantage of the opportunity. Be sure to have correct and clear terms of delivery. And assess your potential and existing national and international customers on their creditworthiness, so that you are not confronted with surprises.

Taking out trade credit insurance is one of the prime ways to limit risk. Trade credit insurance is one of the services that will protect your cash flow and give you greater freedom to trade. Setting up cover for major contracts or for your customer portfolio can improve your position when requesting financial support.

A trade credit insurance allows you to effectively evaluate local and international prospects and protect your company against non-payment from your customers. And should anything go wrong, you can relax knowing that you are protected during the expansion into a new market.