Welcome to the November 2022 issue of Credit Management News Digest.
PLUS: Insolvency Vulnerabilities in a Permacrisis, by Greg Connell, Managing Director of InfolinkGazette.
UK and Ireland: Late Payment, Profit Warnings & Insolvencies
Critical corporate financial distress levels jump as UK businesses deal with the deteriorating economic environment.
The latest Begbies Traynor Red Flag alert report has revealed that the number of companies rated as being in "critical financial distress" continued to rise rapidly in Q3 2022, jumping by 25% compared
with the same period in 2021 (to 2,090) and up 7% versus Q2 2022. The most recent company CCJ data also provided further evidence of the level of distress in the UK economy, with the number of CCJs reaching 63,831 —
more than the entirety of either 2021 or 2020 and nearly the second-highest total since 2010. Similarly, Winding Up Petitions, a much more serious action lodged by creditors, were 237% higher than in the same period in 2021.
To read Begbies Traynor's
news release go to https://www.begbies-traynorgroup.com/news/business-health-statistics/critical-corporate-financial-distress-levels-jump-as-businesses-deal-with-the-deteriorating-economic-environment.
Late payments for small UK businesses hit a two-year high.
Xero's latest Small Business Index has found that payments to small businesses in the UK were made on average 8.2 days late in September.
This is the highest late payment time since August 2020 and an increase of 0.6 days compared to August 2022.
Xero also noted that UK invoices are paid significantly later than they are in Australia (6.5 days) and New Zealand (6.2 days).
Alex von Schirmeister, UK Managing Director, Xero, said: "We need to see tougher penalties for those big businesses flouting agreed payment terms, and policies implemented that require more transparency in regulation
and reporting around late payments."
To read Xero's news release go to https://www.xero.com/uk/media-releases/xero-september-xsbi-data/.
The Central Bank of Ireland warns of a potentially large level of latent business distress yet to crystallise.
The Central Bank of Ireland has published a Financial Stability Note that estimates that 3-4% of Irish SMEs were financially distressed due to the pandemic at the end of 2021, of whom 2% are
likely to be still distressed even under a baseline macroeconomic recovery out to 2024. In
magnitude terms, this 2% would represent an estimated five thousand businesses in financial distress and unlikely to recover, while another five
thousand businesses are in financial distress but likely viable.
For context, the Note advises that approximately 14,000 companies either entered insolvency or were
otherwise dissolved at the trough of the post-financial crisis recession in 2012. To read the Central Bank's report go to https://www.centralbank.ie/docs/default-source/publications/financial-stability-notes/enterprise-policy-issues-distressed-businesses-following-unwinding-pandemic-supports.pdf?sfvrsn=647a951d_6.
Corporate insolvency in England and Wales in September 2022 was 11.3% higher than in September 2019. New data from the Insolvency Service has indicated that corporate insolvencies decreased by 13.5% in September 2022
(to 1,679) compared to August's total and increased by 15.6% compared to September 2021's figure. This means that corporate insolvency figures in September were 11.3% higher than in the same months in 2019.
Christina Fitzgerald, President of R3, commented that the monthly fall in corporate insolvencies is due to a drop in Creditors' Voluntary Liquidations, while the year-on-year increase has mainly been caused by a rise
in Compulsory Liquidations, which is likely to be due to the end of legislation around winding-up petitions. She also noted that the increase in corporate insolvencies between September 2022 and September 2019 is due
to a significant increase in the number of Creditors' Voluntary Liquidations.
To read R3's news release go to https://www.r3.org.uk/press-policy-and-research/news/more/31411/page/1//.
UK company insolvencies in 2022 have increased by 48% compared to the same period in 2021. New data from Creditsafe has found that 2,191 companies in the UK became insolvent in September 2022 —
an increase of 1% compared to the previous month and 28% more than in September 2021. 18% of insolvencies came from within the UK construction sector.
The total number of UK company insolvencies for 2022 overall rose to 19,820. This number represents a 48% increase compared to the same period in 2021 and a 36% increase compared to 2020.
Creditsafe warns that two sectors worth keeping under review are Wholesale and Retail, which saw 280 companies become insolvent in September, and Accommodation and Food Services, where 303 businesses failed.
The combined total of these sectors represented 27% of all insolvencies.
To read Creditsafe's news release go to https://www.creditsafe.com/gb/en/blog/reports/Insolvencies-2022.html.
UK insolvencies look set to increase by 51% this year. A new report by Allianz Trade forecasts that UK insolvencies will rise by 51% this year and a further 10% next year.
Not only would this mean that UK insolvencies would be higher than the global averages — which look set to be 10% in 2022 and 19% in 2023 — but the UK would also outpace many other major European economies.
For example, business insolvencies in Germany are expected to rise by 5% in 2022 and 17% next year, while Italy is forecast to record 6% and 36% increases.
Maxime Lemerle, Lead analyst for Insolvency Research at Allianz Trade, commented: "The rebound in business insolvencies is already a reality for most countries, in particular
for the top European markets (the UK, France, Spain, the Netherlands, Belgium and Switzerland)."
To read Allianz Trade's news release go to https://www.allianz-trade.com/en_global/news-insights/economic-insights/business-insolvencies-corproate-risk.html.
Data for Q3 2022 indicates the second-highest quarterly figures for corporate insolvencies in a decade.
Latest data from the Insolvency Service has found that there were 5,595 seasonally adjusted corporate insolvencies in England and Wales in Q3 2022, a fall of 0.9% compared to Q2 2022's figures of 5,645
and a 40.3% increase compared to Q3 2021 (3,987).
Q3 2022's figures were also 27.9% higher than Q3 2019's figure of 4,375.
Christina Fitzgerald, President of insolvency and R3, commented: "Although the figures published today show a quarterly fall in corporate insolvencies —
driven mainly by a reduction in Creditors' Voluntary Liquidations and administrations,
as well as the summer bringing the traditional slowdown in inquiries and appointments — they are still the second highest quarterly figures for corporate insolvencies in a decade."
To read R3's news release go to https://www.r3.org.uk/press-policy-and-research/news/more/31426/page/1//.
UK Economy
The UK economy is expected to be in recession until summer 2023.
The latest EY ITEM Club Autumn Forecast forecasts that after a 0.3% decline in GDP in Q3, the UK economy will contract by around 0.2% each quarter until Q2 2023,
resulting in GDP falling 0.3% in 2023 as a whole. This is a significant revision from the 1% growth forecast for 2023 in the EY ITEM Club's July Summer Forecast — although the scale of the upcoming
downturn is expected to be shallow relative to previous recessions. EY predicts that GDP should return to growth in the second half of 2023 and will then expand by 2.4% in 2024
(unchanged from the Summer Forecast) and 2.3% in 2025. The EY ITEM Club's growth forecast for 2022 has been upgraded to 4.3% (from 3.7%) after historical data revisions by the Office for National Statistics. To read EY's news release go to https://www.ey.com/en_uk/news/2022/10/uk-economy-expected-to-be-in-recession-until-summer-2023.
The UK is expected to slide into a long but shallow recession.
According to Goldman Sachs, the UK is likely to slide into a deeper recession than previously forecast, with a four-quarter cumulative decline in GDP of 1.6% now expected. Goldman Sachs' Chief European Economist Sven,
Jari Stehn, warned: "We do think there is going to be a significant recession in the UK . . .
Cumulatively, we expect real GDP to decline by about one-and-a-half percent — that's relatively small compared certainly to COVID-19 or the financial crisis, and a bit more like shallow recessions.
The reason for that is that there is still fiscal support via the energy price cap, and households have excess savings that they're sitting on and that they can use to offset some of the shock.
However, the risk is still towards a sharper downturn."
To read Goldman Sachs' news release go to https://www.goldmansachs.com/insights/pages/the-uk-is-expected-to-slide-into-a-more-significant-recession.html.
The Bank of England predicts the UK economy will be in recession for 'a long period'. The Bank of England's (BoE) latest Monetary Policy Report indicates that the UK economy will
remain in recession throughout 2023 and the first half of 2024. GDP is expected to recover only gradually thereafter.
Following growth of 0.2% in the second quarter, UK GDP is expected to have contracted by 0.5% in 2022 Q3 and is projected to fall by 0.3% in Q4. Compared with previous UK recessions, the
BoE predicts that GDP will remain weak relative to its pre-recession level for a prolonged period, although the depth is expected to be much shallower.
The BoE notes that its projections are consistent with recent business surveys of activity, including the S&P Global/CIPS UK PMI, which have weakened significantly over recent months.
To read the BoE's report go to https://www.bankofengland.co.uk/monetary-policy-report/2022/november-2022.
India overtakes the UK to become the fifth biggest economy.
According to the latest figures from the International Monetary Fund (IMF), with 7% growth forecast for 2022, India's economy has overtaken the UK in terms of size — making it the fifth biggest.
Commenting on the news, the World Economic Forum (WEF) noted that India's growth is accompanied by a period of rapid inflation in the UK, creating a cost-of-living crisis and the risk of a recession which the Bank of England predicts could last
into 2024. The WEF also reports that the IMF forecasts this to become the new status quo, with India expected to leap further ahead of the UK up to 2027 — making India the fourth largest economy by that time, too, and leaving the UK behind in the sixth position.
To read the WEF's news release go to https://www.weforum.org/agenda/2022/09/india-uk-fifth-largest-economy-world.
UK Business Confidence & Trade Sectors
UK small business growth forecasts hit a two-year low.
According to Novuna Business Finance, the percentage of UK small businesses predicting growth has hit its lowest level in two years (31%). 18% of small businesses now fear they will contract or
struggle to survive over the next three months.
Compared to last quarter, the percentage of small businesses predicting growth fell notably in several sectors: Transport and distribution (falling from 30% to 24%), real estate (falling from 32% to 27%) and hospitality (31% to 26%).
There was also a particularly sharp fall in the agricultural sector, where the percentage of enterprises predicting growth fell from 25% last quarter to a current figure of just 11%. Although the percentage of
small businesses in the manufacturing sector expecting growth held firm at 35%, this remained significantly down compared to 12 months ago (48%).
To read Novuna Business Finance's news release go to https://www.novuna.co.uk/news-and-insights/business-finance/small-business-growth-forecasts-hit-two-year-low/.
Profit warnings issued by UK-listed companies in Q3 up 69% year-on-year. According to new research from Grant Thornton UK,
a combination of inflationary pressures, rising interest rates, high energy costs,
and ongoing supply chain issues are significantly impacting the financial viability of many mid-sized businesses. Grant Thornton's Business Outlook Tracker found that, in the face of these mounting pressures,
33% of respondents have already restructured their operations and reviewed their headcount, with a further 38% having plans to do so. Many businesses are having to secure additional finance to work through the escalating costs
facing the market, with 33% already having secured further funding and 41% planning to do so. Grant Thornton also noted a considerable drop in investment expectations across all areas monitored by the Tracker.
To read Grant Thornton's news release go to https://www.grantthornton.co.uk/news-centre/1-in-3-mid-sized-businesses-plan-to-restructure-as-cost-pressures-mount/.
Rising costs, falling revenues and late payment are causing the worst UK small business pessimism outside lockdowns.
According to the latest Small Business Index from the Federation of Small Businesses (FSB),
small business owners in the UK currently have a net confidence score of -35.9 in Q3 2022, down 11.2 points compared to the previous quarter. In addition, 43% reported falling revenues over the three months to October,
compared to 32% reporting an increase, with 41% expecting revenues to decrease in the next quarter. In addition, the FSB has found that 54% of small businesses had their cashflow woes in Q3 compounded by the late payment
of invoices, often by bigger business customers. B2B firms were the biggest victims, with the worst affected, including those in the manufacturing sector (67%), professional, scientific and technical activities (65%), and construction (64%).
To read the FSB's news release go to https://www.fsb.org.uk/resources-page/rising-costs-and-falling-revenues-causing-worst-small-business-pessimism-outside-lockdowns-new-figures-reveal.html.
UK business optimism falls as output and new orders drop.
The CBI's latest SME Trends Survey paints a stark picture of the challenges facing the UK's SME manufacturing sector, with business optimism now having fallen for four consecutive quarters.
In the three months to October, business optimism fell at the sharpest rate since April 2020 — during the onset of the COVID pandemic (balance of -42%, from -22% in July).
Export optimism also worsened — though at a slightly slower rate than in July (-18% from -20%). According to the CBI, UK firms also reported a reduction in both new orders and output volumes over
the past quarter and anticipate a further drop in output in the next three months. For example, in the three months to October, the volume of total new orders fell for the first time since January 2021 (balance of -22%, from +2% in July).
This reflected a fall in both domestic orders (-22%) and export orders (-8%).
To read the CBI's news release go to https://www.cbi.org.uk/media-centre/articles/uk-business-optimism-falls-as-output-and-new-orders-drop-cbi-sme-trends-survey/.
UK's Golden Quarter is off to a slow start with sluggish retail sales growth.
The UK retail sector's crucial Golden Quarter period, which encompasses Christmas and Black Friday, has started poorly with disappointing sales growth in October, new figures by BDO reveal.
According to BDO's High Street Sales Tracker, total like-for-like (LFL) sales (combined in-store and online) grew by +3.5% in October, compared to a base of +19.9% in the equivalent month last year.
However, with a strong first week of sales masking poor performance across the rest of the month, BDO notes that these results are a disappointing start to this vital time of year.
The fashion sector was the strongest performing category throughout October, with total LFLs climbing by +6.7% from a base of +36.8%. This marks 20 consecutive months of positive total LFL sales figures for the fashion sector but is the third straight month of slower growth.
To read BDO's news release go to https://www.bdo.co.uk/en-gb/news/2022/golden-quarter-off-to-slow-start-with-sluggish-retail-sales-growth.
A surprising rise in UK construction PMI does not paint a true picture of the industry. RSM has reported that, although
the latest PMI data by IHS Markit and CIPS indicates that, although the headline construction PMI rose to 53.2 in October 2022 (up from 52.3 in September), a more accurate picture is likely to be painted towards the end of Q4 2022 as the
first signs of the recession hit the industry.
Thomas Pugh, Economist at RSM UK, advised: 'Time to buckle up, because the economy is almost certainly in a recession now," and warned that the rise in the construction PMI over the last few months might paint a more positive picture than
the reality. "Sharp falls in other early indicators, such as the composite PMI and retail sales volumes, all point towards a contraction in the economy in Q3. . . Overall, we expect the recession to last until Q3 2023
and result in GDP falling by around 2.5%."
To read RSM's news release go to https://www.rsmuk.com/news/surprising-rise-in-construction-pmi-does-not-paint-true-picture-of-industry-disruption.
Global Economy
A global recession is increasingly likely according to Chief Economists.
According to the World Economic Forum's (WEF) quarterly Chief Economists Outlook, the Forum's community of Chief Economists now expect reduced growth, stubbornly high inflation and real wages to continue falling for the
remainder of 2022 and 2023, with seven out of ten considering a global recession to be at least somewhat likely. Almost nine out of 10 of the chief economists expect Europe's growth to be weak in 2023,
while moderate growth is expected in the Middle East and North Africa region, the US, South Asia and Latin America. The outlook is being driven in part by high inflation, which, except for China and the MENA region,
most of the Chief Economists surveyed expect to persist for the remainder of 2022.
To read the WEF's news release (with access to the full report) go to https://www.weforum.org/press/2022/09/global-recession-increasingly-likely-as-cost-of-living-soars-say-chief-economists.
The IMF predicts global growth of 3.2% in 2022.
The IMF's latest World Economic Outlook (WEO) forecasts that global growth will slow from 6.0% in 2021 to 3.2% in 2022 and 2.7% in 2023.
The WEO notes that this is the weakest growth profile since 2001 (except for the global financial crisis and the acute phase of the COVID-19 pandemic) and reflects significant slowdowns for the largest economies:
a US GDP contraction in the first half of 2022, a euro area contraction in the second half of 2022, and prolonged COVID-19 outbreaks and lockdowns in China with a growing property sector crisis.
About a third of the world economy faces two consecutive quarters of negative growth. The IMF also predicts that global inflation will rise from 4.7% in 2021 to 8.8% in 2022 but will then decline to 6.5% in 2023 and 4.1% by 2024.
To read the IMF's latest WEO go to https://www.imf.org/en/Publications/WEO/Issues/2022/10/11/world-economic-outlook-october-2022.
Q3 GDP rose by 0.2% in both the euro area and the EU. According to the latest estimate from Eurostat, in the third quarter of 2022, seasonally
adjusted GDP increased by 0.2% in both the euro area and the EU,
compared with the previous quarter. In the second quarter of 2022, GDP had grown by 0.8% in the euro
area and by 0.7% in the EU. Compared with the same quarter of the previous year, seasonally adjusted GDP increased by 2.1% in the euro
area and by 2.4% in the EU in Q3 after +4.3% in both zones in the previous quarter. Among the Member States for which data are available, Sweden (+0.7%) recorded the
highest increase compared to the previous quarter, followed by Italy (+0.5%), Portugal and Lithuania (both
+0.4%). Declines were recorded in Latvia (-1.7%) as well as in Austria and Belgium (both -0.1%).
To read Eurostat's release go to https://ec.europa.eu/eurostat/documents/2995521/15131967/2-31102022-BP-EN.pdf/090ecf01-ae9b-be08-0ae9-e23b1705e4bb.
Credit Management Tools
Free 30-day trial of InfolinkGazette's database. InfolinkGazette, the only online provider of unsecured creditor lists in the UK,
is offering readers a free 30-day trial of their service, with access to a database (updated weekly) of over 1,000,000 unsecured trade creditors from insolvent UK companies.
This enables users to view the most recent unsecured creditor data and search unsecured creditor data based on key search parameters, such as size of debt or geographic location,
as well as set up alerts to be notified by email if a particular prospect becomes an unsecured creditor, or more general alerts such as losses over a specific figure in a particular postcode.
To receive a password go to https://www.infolinkgazette.com/?pid=4 or call Greg Connell, Managing Director, on 07753 739752.
VIDEO: Company Watch announces New Data Search. Company Watch announced the launch of its new Data Search on 31 October 2022 and has released a video to explain the new functionality that will be available to users.
New Features include: more granularity in many search filters (e.g., Event type; Live Search Count update; Chargeholder search; Dashboard visualisations and Officer search.
To watch Company Watch's video go to https://www.youtube.com/watch?v=8nGIceQVIkw.
ICISA's Glossary of Surety Terms.
What is a financial guarantee? What is a fiduciary bond? What are the differences between a surety bond, a guarantee and a standby letter of credit?
The International Credit and Surety Association (ICISA) has published a Glossary of Surety Terms that aims to clarify the most commonly used industry terms in clear and straightforward language.
Readers can also contribute to it by submitting their definitions
to ICISA's Secretariat at secretariat@icisa.org. A working group will review these and then will be added to the Glossary.
To see the current Glossary go to https://icisa.org/surety-glossary/.
European Statistical Recovery Dashboard: October edition.
Eurostat has released the October edition of its interactive European Statistical Recovery Dashboard. The dashboard contains monthly and quarterly indicators from a number of statistical areas relevant
for tracking the economic and social recovery from the COVID-19 pandemic across countries and time. This month, the dashboard indicates that EU economic sentiment continued its steep decline in September,
dropping further below its pre-pandemic level. In addition, a significant further deterioration in confidence was recorded in all surveyed business sectors, together with a particularly sharp decline observed among consumers.
To view the latest dashboard go to https://ec.europa.eu/eurostat/en/web/products-eurostat-news/-/wdn-20221018-1.
UK Small Business Commissioner launches FSB's Prompt Payment Scorecard in Northern Ireland.
To shine a spotlight on the issue of late payment, FSB Northern Ireland has published its first Prompt Payment Scorecard, which sets out the payment performance of the eleven local councils and other
public bodies across Northern Ireland. FSB NI's Policy Chair, Alan Lowry, said: "Many businesses cite 'cashflow' as one of the key issues affecting them, and late payment drives businesses to the wall
every year; that's unacceptable. This FSB initiative, to establish a Prompt Payment Scorecard that shows the payment performance of public bodies, is a valuable tool in understanding the scale of the
problem and focusing on how payment speeds can be improved." To read the FSB's news release go to https://www.fsb.org.uk/resources-page/it-s-never-better-late.html.
Events & Professional Development
8th Annual Alternative & Receivables Finance Forum, 23-24 November. Clifford Chance, London.
The Alternative and Receivables Finance Forum returns this November as a two-day event. Join us to discuss current, new and avant-garde finance systems outside traditional banking, which have potential to replace financial institutions in their current format. We will look at the gateways for banks and other traditional liquidity providers to move into this space. Could we be on the verge of alternative finance becoming mainstream? Will decentralised finance become a new major source of delivering liquidity to the trade and receivables finance sector? How will other technologies continue to impact traditional markets? What can banks do to remain competitive and what are the practicalities of investing in the new technologies?
This November we will bring together panels of expert commentators from across the banking, fintech and non-banking finance sectors to discuss the opportunities set out by the new wave of innovative solutions and why banks, insurers, traditional platforms and others should take notice.
Credit Insurance News' readers can get 20% discount with code: MEDIA-20.
For more information and to reserve your place go to https://bcrpub.com/events/8th-annual-alternative-receivables-finance-forum.
The Alternative and Receivables Finance Forum returns this November as a two-day event. Join us to discuss current, new and avant-garde finance systems outside traditional banking, which have potential to replace financial institutions in their current format. We will look at the gateways for banks and other traditional liquidity providers to move into this space. Could we be on the verge of alternative finance becoming mainstream? Will decentralised finance become a new major source of delivering liquidity to the trade and receivables finance sector? How will other technologies continue to impact traditional markets? What can banks do to remain competitive and what are the practicalities of investing in the new technologies?
This November we will bring together panels of expert commentators from across the banking, fintech and non-banking finance sectors to discuss the opportunities set out by the new wave of innovative solutions and why banks, insurers, traditional platforms and others should take notice.
Credit Insurance News' readers can get 20% discount with code: MEDIA-20.
For more information and to reserve your place go to https://bcrpub.com/events/8th-annual-alternative-receivables-finance-forum.
MENA Supply Chain Finance 2022, 28-29 November. Dubai Chamber of Commerce, Al Mamzar.
Factoring and supply chain finance in the MENA region is attracting a lot of interest as it quickens its development. The region is rapidly growing into a global trading hub between east and west, with open account trading becoming increasingly common. The adoption of new technologies and the recognition of opportunity by investors, banks and fintechs is creating a very fertile environment. In the UAE, factoring and supply chain finance have been given a significant boost by the introduction of a Factoring Law (Federal Decree Law No (16) of 2021) which was issued on 29 August 2021 and came into effect on 7 December 2021. As a result, there has been an explosion of interest in receivables finance there. MENA Supply Chain Finance will examine the impact of these recent developments and the opportunities for the development and growth of factoring and supply chain finance and prospects for supporting the burgeoning demand for finance among SMEs and larger businesses. MENA Supply Chain Finance is not only for banks and financial institutions but also for fintechs, technology providers, credit insurers and all those with an interest in receivables finance. Credit Insurance News' readers can get 20% discount with code: MEDIA-20.
For more information and to reserve your place go to https://bcrpub.com/events/mena-supply-chain-finance-2022.
Factoring and supply chain finance in the MENA region is attracting a lot of interest as it quickens its development. The region is rapidly growing into a global trading hub between east and west, with open account trading becoming increasingly common. The adoption of new technologies and the recognition of opportunity by investors, banks and fintechs is creating a very fertile environment. In the UAE, factoring and supply chain finance have been given a significant boost by the introduction of a Factoring Law (Federal Decree Law No (16) of 2021) which was issued on 29 August 2021 and came into effect on 7 December 2021. As a result, there has been an explosion of interest in receivables finance there. MENA Supply Chain Finance will examine the impact of these recent developments and the opportunities for the development and growth of factoring and supply chain finance and prospects for supporting the burgeoning demand for finance among SMEs and larger businesses. MENA Supply Chain Finance is not only for banks and financial institutions but also for fintechs, technology providers, credit insurers and all those with an interest in receivables finance. Credit Insurance News' readers can get 20% discount with code: MEDIA-20.
For more information and to reserve your place go to https://bcrpub.com/events/mena-supply-chain-finance-2022.
Professional Development
STECIS, the Trade Credit Insurance & Surety Academy endorsed by ICISA, offers a range of
webinars and classroom training courses.
The webinars on Trade Credit Insurance and Surety are organised multiple times per year: the next webinars on Trade Credit Insurance are planned on 20 October and 17 November 2022.
For 2023 the new range of Classroom courses are planned as well:
The webinars on Trade Credit Insurance and Surety are organised multiple times per year: the next webinars on Trade Credit Insurance are planned on 20 October and 17 November 2022.
For 2023 the new range of Classroom courses are planned as well:
- 14 & 15 February 2023: Trade Credit Insurance Foundation Course
- 16 & 17 February 2023: Trade Credit Insurance Advanced Course
- 14 & 15 February 2023: Surety Foundation Course
- 16 & 17 February 2023: Surety Advanced Course
Registrations have to be in before 11 December 2022.
All classroom courses will take place in the Steigenberger Airport hotel close to Schiphol Airport/Amsterdam the Netherlands. The courses include the lunches and a dinner at the end of the first training day.
The courses are hosted by seasoned expert from the industry and there is enough opportunity for posing questions, discussions and networking.
Also there is the possibility to arrange an inhouse training: then there will be created a tailor made outline for your staff on basis the training demand of your of your company. The training will be effected at your own offices or at a venue of choice.
Details information about the webinar and classroom training courses are available on the Stecis’ website: www.stecis.org also further information can be obtained by sending an e-mail to info@stecis.org.
All classroom courses will take place in the Steigenberger Airport hotel close to Schiphol Airport/Amsterdam the Netherlands. The courses include the lunches and a dinner at the end of the first training day.
The courses are hosted by seasoned expert from the industry and there is enough opportunity for posing questions, discussions and networking.
Also there is the possibility to arrange an inhouse training: then there will be created a tailor made outline for your staff on basis the training demand of your of your company. The training will be effected at your own offices or at a venue of choice.
Details information about the webinar and classroom training courses are available on the Stecis’ website: www.stecis.org also further information can be obtained by sending an e-mail to info@stecis.org.
About this month's sponsor: InfolinkGazette
Connell Data Ltd t/a InfolinkGazette, are essentially, a data capture bureau; we identify data that will be useful for risk, marketing, or compliance purposes and
where it isn’t already in an easy to consume format, we curate the data and structure it into easily ingestible files that are delivered to our subscription clients on a daily, weekly, monthly, or quarterly basis.
Data distribution is primarily through information re-sellers, such as Credit Reference Agencies and Data Aggregators and, to a small extent, we also supply to end users of information in the Credit Insurance, Debt Recovery, and Insolvency sectors.
We’d be known best for our unsecured creditor and insolvency databases, which help Credit Insurers, Brokers, Debt Collection Agencies and Credit Reference Agencies identify the optimum time to call commercial prospects and present their company's solution. This is the time when the prospect has the greatest propensity to purchase a Credit Insurance or Credit Risk Management solution, which is shortly after the prospect has incurred an unsecured credit loss, following one of their customers going out of business. In an average quarter, InfolinkGazette data quality editors process 3,000 insolvency files, with total unpaid/unsecured credit losses of over £1 billion, resulting from an average 45,000 ordinary unpaid trade creditors, who have each lost an average of more than £30,000. The information is available via our website 24/7, with extensive search, viewing & download facilities; the database of over 1 million records, increases at the rate of almost 15,000 unsecured creditors per month, which means we are constantly refreshing the supply of quality new business prospects and risk management data for credit professionals.
Apart from unsecured creditors data we provide all types of business information, throughout the entire business cycle, literally anything from the registration of a business to the termination of a company. All our data comes from public registries, the courts, or official gazettes, using either web extraction techniques, OCR, or traditional data entry and the uniqueness comes from the timeliness of the information, and the structured ready to load format of the delivered files. The timeliness is best illustrated by the work of our court correspondents, who identify upcoming Administrations, Moratoriums, Initial Stage Winding up Petition Applications and CVAs weeks before the information is published at Companies House, or the Gazette’s.
We provide: Unsecured Creditors; HMCourts filings (debtor & creditor actions); London Stock Exchange (LSE) Profit Warnings; UK Corporate Acquisitions; Deliberate Tax Defaulters; UK & ROI Business Reference Files; New Company VAT Registrations; Crown Dependency records; and numerous bespoke commercial data files.
Data distribution is primarily through information re-sellers, such as Credit Reference Agencies and Data Aggregators and, to a small extent, we also supply to end users of information in the Credit Insurance, Debt Recovery, and Insolvency sectors.
We’d be known best for our unsecured creditor and insolvency databases, which help Credit Insurers, Brokers, Debt Collection Agencies and Credit Reference Agencies identify the optimum time to call commercial prospects and present their company's solution. This is the time when the prospect has the greatest propensity to purchase a Credit Insurance or Credit Risk Management solution, which is shortly after the prospect has incurred an unsecured credit loss, following one of their customers going out of business. In an average quarter, InfolinkGazette data quality editors process 3,000 insolvency files, with total unpaid/unsecured credit losses of over £1 billion, resulting from an average 45,000 ordinary unpaid trade creditors, who have each lost an average of more than £30,000. The information is available via our website 24/7, with extensive search, viewing & download facilities; the database of over 1 million records, increases at the rate of almost 15,000 unsecured creditors per month, which means we are constantly refreshing the supply of quality new business prospects and risk management data for credit professionals.
Apart from unsecured creditors data we provide all types of business information, throughout the entire business cycle, literally anything from the registration of a business to the termination of a company. All our data comes from public registries, the courts, or official gazettes, using either web extraction techniques, OCR, or traditional data entry and the uniqueness comes from the timeliness of the information, and the structured ready to load format of the delivered files. The timeliness is best illustrated by the work of our court correspondents, who identify upcoming Administrations, Moratoriums, Initial Stage Winding up Petition Applications and CVAs weeks before the information is published at Companies House, or the Gazette’s.
We provide: Unsecured Creditors; HMCourts filings (debtor & creditor actions); London Stock Exchange (LSE) Profit Warnings; UK Corporate Acquisitions; Deliberate Tax Defaulters; UK & ROI Business Reference Files; New Company VAT Registrations; Crown Dependency records; and numerous bespoke commercial data files.
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