Unpaid invoices can be a looming, and sometimes unexpected, threat to the health of your business. 25% of bankruptcies quote unpaid invoices as the cause – a sizeable portion, and therefore invoice insurance is something you should definitely be paying attention to, and thinking about investing in.
When invoices are not paid on time, the bottom line of your business can quickly suffer.
Cash flow is choked, investment plans interrupted and expenditures put on hold. A domino effect can take place, where one or two unpaid invoices tip the very foundations of your business over the edge. That’s why invoice insurance cover is a crucial part of safeguarding your company and our team is here to give you that safety blanket of support.
The last Zurich SME Index revealed that over half of Britain’s small and medium enterprises are owed an estimated £44.6 billion in late payments. The figures aren’t to be taken lightly; a fifth are owed more than £25,000 and 1 in 10 more than £100,000. 65% of the 1060 British SMEs polled agree that small and medium businesses are being forced to close down because of unpaid invoices. We’re sure you wouldn’t want that to happen to you.
That’s where we at InvoiceInsure come in.
A comprehensive invoice insurance policy, payable monthly, will help to secure your business and ensure that every penny your business is owed due to client insolvency or protracted default will be received.
And we act fast, helping to safeguard cash flow and prevent you from entering your business overdraft – another problem that many growing businesses cite as an unwelcome consequence of late payments.
Even leading industry trade body the Association of British Insurers (ABI) felt compelled to warn growing businesses that despite unpaid invoice payouts being higher than ever, too many companies still add self-imposed risk by not taking out adequate invoice insurance cover.
As government policy can’t always protect business by keeping pace with changeable business environments and fluctuating risk, invoice insurance is the simple, practical and achievable route to safeguarding your money.
Cash flow is such an integral part to the survival of expanding companies and so accessing the support you require to track down unpaid invoice amounts from our credit specialists may just be the make or break of your business.
Without invoice insurance, following up on unpaid invoices due to insolvency or protracted clients could mean you have to hire a lawyer and spend valuable time in court. You may also miss out on potential loans due to a lacking an invoice insurance policy that makes lending riskier for a bank or investor. There is a clear case for invoice insurance when you begin to investigate the detrimental impacts unpaid invoices could have on your business without it. Our team doesn’t want to see an easily resolvable issue spiral out of control, so give invoice insurance with InvoiceInsure priority.
We’d be delighted if you get a quote for your business by clicking the link below – it’s a simple process and won’t take long.
Giulia Macgarr