Season's Greetings from ICSM Credit

Clarity on Brexit means businesses can at last plan ahead 

I had planned to call this seasonal newsletter: a message from Mr Grumpy, since the year has seen so much delay over Brexit and a catalogue of failing companies. However, in light of the result of the General Election we finally have some stability and hopefully it means at least firms can have confidence in a more settled political and economic climate.

Putting on my Mr Grumpy hat for the moment 2019 has been a near record year for insolvencies. You have to go back to the Credit Crunch of 2007-2008 to find a similar spike in company failures so I hope we are not approaching a similar downturn in the economy. Early signs since the election are positive for business so let’s hope the economy picks up with the optimism generated from Number 10 Downing Street.

Whatever happens business is always an uncertain science with calculated risks taken as firms look to the future. Sadly, there will always be rogues in this world along with firms who get into trouble. Which is why sole traders, SMEs and large international companies value membership of ICSM Credit as they are kept in the loop when it comes to credit intelligence. And members can make use of our free legal letters and micro debt recovery service along with up to date credit reports and debt collecting.

The credit and insolvency industry changes with the times as do all businesses. One aspect that wasn’t dreamed about at the time of the Credit Crunch but is now commonplace is the pre-pack deal. It is supposed to allow firms breathing space in order to find a way out of insolvency meaning some businesses have managed to survive and retain customers and a workforce but for others it only delays the inevitable liquidation or future collapse. Perhaps the Pre-Pack Pool will eventually scrutinize all pre-packs and the Official Receiver and trading standards will vigorously pursue the rogues that exist in all industries. These things we can only hope for and so it’s no more Mr Grumpy but Mr Optimistic.

And on that positive note here’s wishing you have a merry Christmas and a happy New Year.

Best wishes
Ian Carrotte
Proprietor of ICSM

For details about ICSM Credit call 0844 854 1850 or visit the website www.icsmcredit.com or email Ian at Ian.carrotte@icsmcredit.com on how to subscribe and to join the UK’s credit intelligence network to avoid bad debts and late payers. Follow ICSM Credit on FaceBook, Twitter and YouTube and Ian Carrotte on LinkedIn and Twitter.
To keep up to date subscribe to the FREE ICSM Credit Newsletter to hear all the latest insolvency news and to see who has gone out of business click on the orange panel on the top left of the home page of the website www.icsmcredit.com or send an email to Ian.carrotte@icsmcredit.com