Trade credit insurance is more than a back-up for businesses that trade on credit terms. It also enables growth through expanding sales channels and volumes, making it a valuable strategic tool for increasing turnover and profitability.
A new report from the Australian Securities and Investments Commission has highlighted growing numbers of insolvencies in certain industries, with SMEs making up the bulk of external administrators’ reports in 2018.
The take-up of surety bonds as an alternative to bank guarantees is soaring and shows no sign of slowing, says a Gallagher specialist.
While the Australian manufacturing sector is enjoying an unprecedented boom, the industry remains highly volatile, with many businesses facing closure if they were to lose a single customer.