Trade credit insurance is an invaluable asset for any business offering credit terms. It protects against bad debt and insolvency, improves cash flow and risk management, Don’t leave your business exposed. Contact Debtor Protect.
In its 2023 annual report the Tax Office noted SME collectable tax debt had increased to $50.2 billion at June 2023. This was an 89% increase on June 2019. They’ve indicated that they are going to start chasing that debt.
Failing to manage bad debt and outstanding payments can have serious repercussions for your business. Thankfully, Debtor Protect offers a suite of credit insurance solutions to help you mitigate these risks and maintain a healthy cash flow.
The risk of bad debts remain high. Businesses need to be doing all they can to mitigate the risk of loss. Trade credit and debtor insurance solutions are still available. The ultimate protection against bad debts is to implement a policy.
Our approach at Debtor Protect is all about building trust and achieving tangible outcomes. We take the time to truly understand your business – not just a cookie-cutter approach. We dive deep into your operations, customer base, and the dynamics of your industry, mitigating financial risks.
The 2023 Financial Year was a wild ride. Business failures were up over 60% on 2022, with the construction, hospitality and retail industries again over-represented in figures. For a lot of businesses we are in the middle of a perfect storm, but how long will it last?
Debtor Protect understand that your clients cashflow is the lifeblood of their business. These case studies demonstrate how we pride ourselves on getting claims finalised and funds in their business account quickly!
PBS Building and Scotts Refrigerated Logistics were two very established businesses that that have recently fallen victim to a challenging economy. Picking winners in the current climate is more important, but harder than ever.