Welcome to the October 2021 issue of Credit Management News Digest. This issue is sponsored by Atradius.

Index
PLUS: Businesses must be prepared for insolvency spike aheadBy Mike Thomas, Director of Risk Services of trade credit insurer Atradius.
UK Late Payment, Business Distress & Insolvencies
UK SMEs are owed £61 billion in late payments — a 20% increase compared to this time last year. An article by Gordon Merrylees, Chief Commercial Officer of Know-it, published in Global Banking & Finance Review has reported that over 50,000 UK SMEs cease trading every year due to late payment, with UK SMEs currently owed £61 billion in late payments — a 20% increase compared to this time last year. The article also notes that a recent survey with YouGov found that 68% of the companies surveyed confirmed that they regularly experience late payments, with 62% dedicating time each week to chase overdue invoices. That equates to four million businesses (and 1.7 million VAT-registered businesses) struggling to get paid for products and services they've delivered. The article notes that there's also no doubt that the pandemic has made this situation worse, with increased levels of debt, reduced cashflows and some larger organisations looking to retain cash themselves — "even freezing payments for some small suppliers." To read Global Banking & Finance Review's article go to https://www.globalbankingandfinance.com/the-real-cost-of-late-payments-for-smes-in-the-uk/.
UK smaller businesses face a collective debt burden of £17.5 billion. A detailed analysis of how the UK's small businesses were impacted by COVID-19 and other economic challenges in 2020 has been published in a joint study by Pay.UK, and the Chartered Institute of Credit Management (CICM). The research found that 51% of the country’s smaller businesses suffered from late payment, facing a collective debt burden of £17.5 billion. Although this finding is broadly in line with 2019 data, which showed 54% of SMEs experiencing late payments, it is well above the figures reported in 2017 and 2018. Similarly, while the overall amount owed to the country’s SMEs fell from £23 billion in 2019 to £17.5 billion in 2020, the total remains considerably higher than the £12.9 billion late payments debt reported in 2018 and 2017’s £14.2 billion. On a more positive note, the average overdue amount dropped to just under £20,000 compared with 2019’s £25,000. However, it isn’t clear if the reduction in overall business activity throughout the pandemic had an impact on those numbers. To read the CICM's news release go to https://www.cicm.com/half-uks-smaller-businesses-owed-late-payments/.
50,000 UK SMEs collapse every year due to customers paying them late. Juno has published a paper that highlights the impact of late payments on small businesses in the UK. 68% of the companies Juno surveyed confirmed they regularly experience late payments, with 62% spending time each week chasing overdue invoices. There are some distinct regional variations, with London hit hardest with the worst degree of late payment (78% of the time), while in the far north of Scotland this figure drops to 58%. In terms of sector, companies in marketing, media, PR, and sales are the worst impacted, with only 9% of businesses receiving their due payments on time and 91% being paid late. Overall, companies with 10-49 employees find themselves chasing payments the most — 83% of the time, while sole traders are paid late 55% of the time. According to Juno, 50,000 SMEs collapse every year due to late payment, equating to billions of pounds in lost revenue for the UK economy. To download Juno's paper go to https://www.getjuno.com/resources/real-cost-of-late-payments-uk-2021/.
UK business failures in 2022 are forecast to rise by 33% on pre-pandemic levels. Atradius' latest Insolvency Forecast advises that UK business insolvencies declined by 27% in 2020 but, as fiscal support schemes are withdrawn, are now set to rise by 33% on pre-pandemic levels in 2022 (one of the highest rates in the world). Atradius expects UK business failures to begin to rise in H2 2021, resulting in a year-on-year increase of 7%. Then, in 2022, annual UK insolvencies could spike by as much as 70% year on year. This means insolvencies will be 33% higher in 2022 compared to 2019. Only Italy has a higher cumulative insolvency rate, with a forecast increase of 34%, followed by Australia, which, like the UK, is predicted to increase by 33%. Damien Dawson, Southern Regional Manager of Atradius UK, commented: "As the economy rebounds and support schemes are gradually withdrawn, the escalation of insolvencies is, unfortunately, inescapable. The most important thing businesses can do now is to be prepared." He continued: "The good news from Atradius is that we are underwriting higher cover levels proportionate to the level of trade now than prior to the pandemic." Click here to read Atradius' news release.
Corporate insolvency statistics for England and Wales indicate that corporate insolvencies increased by 71.1% in August 2021 compared to the same period in 2020. The Insolvency Services' latest data for corporate insolvency statistics for England and Wales indicates that corporate insolvencies increased by 22.9% to 1,348 in August 2021 compared to July's figure, and increased by 71.1% compared to August 2020's figure. Colin Haig, President of insolvency and restructuring trade body R3 and Head of Restructuring at Azets, commented: "The insolvency figures published today highlight how much tougher the climate is for businesses than this time last year. . . The increase in corporate insolvencies was driven by a rise in Creditors' Voluntary Liquidations (CVLs). Numbers for this process were 115% higher than this time last year and 30% higher than in 2019, which suggests that despite the opening up of the economy, there are a number of company directors who are opting to close their businesses after a year and a half of trading in a pandemic." To read R3's news release go to https://www.r3.org.uk/press-policy-and-research/news/more/30011/page/1//.
Q3 2021 total unsecured creditor losses are now back above pre-pandemic levels for the first time. New research by InfolinkGazette has shown that there has been a 25% increase (to £5.1 billion) in the total losses reported by unsecured creditors in Q3 2021 compared to the pre-pandemic quarterly total loss run rate. In comparison, during the 5-year period 2015 to 2019, total unsecured creditor losses averaged around £4 billion per quarter. Greg Connell, Managing Director of InfolinkGazette, noted that creditor losses generally increase with insolvencies and warned that as insolvencies are already rising, the outlook for businesses is worrying. He warned: "If insolvencies can exceed the normal pre-pandemic run rate when we were still experiencing the benefit of government-sponsored COVID support measures, we can see we are in for a torrid time." Based on the current run rate, InfolinkGazette predicts that there are likely to be 23,000 corporate Liquidations and Administrations over the next 12 months. To read InfolinkGazette's news release go to https://www.infolinkgazette.co.uk/?pid=6.
UK Economy & Trade Sectors
The UK's GDP increased by 5.5% in Q2 2021. Latest data from the Office for National Statistics (ONS) estimates that the UK's GDP grew by 5.5% in Q2 2021, revised upwards from the ONS' first estimate of a 4.8% increase. Services, production, and construction output all increased as COVID-19 restrictions continued to ease to varying degrees. There was an increase in services output of 6.5% in Q2 2021, revised upwards from the first estimate of 5.7%, indicating that services output was 2.2% below its level in Q4 2019. Production output also rose by 1.0% in Q2, revised up by 0.5%, and is now a revised 2.8% below its pre-pandemic level. Construction output increased by a revised 3.8% in Q2 2021 and has now broadly recovered to its pre-pandemic output level. Overall, the UK's level of GDP in Q2 was 3.3% below its pre-pandemic level (Q4 2019) - revised from the previous estimate of 4.4% below. To read the ONS's news release go to https://www.ons.gov.uk/economy/grossdomesticproductgdp/bulletins/quarterlynationalaccounts/apriltojune2021.
The UK economy's growth projections for 2021 and 2022 look set to outpace the rest of the G7. According to the OECD latest Economic Outlook, although compared to other countries the UK saw the second-largest downward percentage change in GDP between Q4 2019 and Q2 2021, the UK economy is rebounding. For 2021, the UK is forecast to grow by 6.7% — ahead of the rest of the G7. This will put the UK's growth behind that of China (8.5%), Turkey (8.4%), Argentina (7.6%) and Spain (6.8%), but will mean that its GDP growth will outpace the US (6.0%), the G20 (6.1%), World (5.7%) and Euro area (5.3%). Although the UK's pace of growth will then slow in 2022 (to 5.2%), the OECD predicts that only India (9.9%), Spain (6.6%) and China (5.8%) will see greater economic growth. To read the OECD's report go to https://www.oecd.org/economic-outlook/.
The UK economy remains 0.8% below its pre-COVID-19 pandemic level. The Office for National Statistics' (ONS) latest data estimates that UK GDP grew by 0.4% in August 2021 and remains 0.8% below its pre-COVID-19 pandemic level (February 2020). Services output grew by 0.3% in August 2021, with output in consumer-facing services increasing by 1.2%, while all other services rose by 0.1%. All other services are now 0.4% above their pre-pandemic levels, with consumer-facing services 4.7% below. Construction contracted, with output down by 0.2% in August 2021; the sector is now 1.5% below its pre-pandemic level. In addition, the ONS has revised down GDP growth for July 2021 from 0.1% growth to a 0.1% fall. To read the ONS's news release go to https://www.ons.gov.uk/economy/grossdomesticproductgdp/bulletins/gdpmonthlyestimateuk/august2021.
Quarterly Economic Survey Q3 indicates that the UK economy is under strain. The BCC's latest Quarterly Economic Survey has shown that, although some indicators, such as domestic sales and orders, improved in Q3, persistent weaknesses elsewhere suggest concerns over the UK recovery's strength. For example, the study revealed stagnation in the proportion of firms reporting improved cashflow and increased investment, and indicated that firms' expectations of price increases and fears about inflation are hitting record levels. Responding to the findings, Director General of the British Chambers of Commerce, Shevaun Haviland, said: "The supply chain crisis, alongside wider labour shortages and spiralling price rises, is clearly starting to drag on our economic recovery from COVID-19. Businesses are being battered by a deluge of up-front cost pressures, including huge increases in the prices of key raw materials and shipping, as well as now facing a rise in National Insurance Contributions." To read the BCC's news release go to https://www.britishchambers.org.uk/news/2021/10/quarterly-economic-survey-q3-economy-under-strain.
UK SME recovery flatlines as shortages hamper turnover. The latest data from the Bibby Financial Services' (BFS) SME Turnover Index suggests that UK SME's turnover fell for the second consecutive month (although marginally) in August as labour and skills shortages continued to hamper economic activity. The manufacturing sector, where SME sector turnover fell by one point on the Index, from 148 to 147 (a decrease in the Index shows that SME turnover has fallen and vice versa), most clearly reflected this modest fall. This continued a decline from June when the industry posted a score of 152. However, turnover across other sectors saw more significant fluctuations. For example, construction SMEs saw a 7% rise, posting a score of 192 in August, up from 184 in July. This partially offset the fall from June, where the Index was as high as 217. Overall, SME turnover fell from 146 to 145 in August, after dropping 5 points in July, suggesting recovery may be stalling. To read BFS's news release go to https://www.bibbyfinancialservices.com/about-us/news-and-insights/news/2021/sme-recovery-flatlines.
Without rates reform, four in five UK retailers may see store closures. In a survey of major retailers by the British Retail Consortium (BRC), 83% of UK retailers say they "are likely" or "certain" to close stores unless there is immediate action to reduce the burden placed on retailers by business rates. BRC notes that retail, which accounts for 5% of the UK economy, pays 25% of business rates (a bill of approximately £8 billion for retailers across the UK) and estimates that the cost of business rates has been a significant factor in 67% of store closures and business administrations over the last two years. Helen Dickinson, Chief Executive of the BTC, said: "This report underscores the urgency of fixing the broken business rates system, which currently hold back new jobs and investment. With one in seven shops currently shuttered, it is essential that action is taken." To read the BRC's news release go to https://brc.org.uk/news/corporate-affairs/without-rates-reform-four-in-five-retailers-will-see-store-closures/.
Growth in UK retail sales and orders eases in the year to September. According to the latest CBI monthly Distributive Trades Survey, UK retail sales grew at the weakest pace since March 2021 in the year to September, and growth in orders placed with suppliers also slowed. Although sales and orders in October are expected to rise at a faster rate to become broadly average, the survey found that respondents viewed sales as poor for the time of year. Internet sales growth also slowed in the year to September and have now been below their long-run average for five consecutive months. Ben Jones, CBI Principal Economist, said: "Low stock adequacy remains a concern across the distribution sector. Respondents to our survey have told us that they do not expect the transport and production issues that are causing these shortages to ease significantly until at least next year and, in some cases, beyond." To read the CBI's news release go to https://www.cbi.org.uk/media-centre/articles/growth-in-retail-sales-and-orders-eases-in-year-to-september-cbi-monthly-distributive-trades-survey/.
September's UK retail results remain solid, but the discount season is under threat from supply chain disruption. According to BDO's latest High Street Sales Tracker, the UK's Indian summer saw September's retail sales maintain a solid seven months of sustained recovery, with discretionary spend remaining strong. Total like-for-like (LFL) UK sales, combined in-store and online, increased by 19.7% in September from a base of -1.3% for the equivalent month last year, with fashion, lifestyle, and homeware all seeing positive total LFL sales. Fashion saw the most significant growth, with total LFL sales increasing by 32.0% for the month — albeit from a base of -6.1% for the same time last year. Lifestyle LFL sales also increased by 14.2% in September, but from a base of -1.8% for the equivalent month last year — the seventh month of positive sales. Homeware total LFL sales rose less, by 7.9%, but this was from an impressive base of +19.1% for the same month last year. To read BDO's news release go to https://www.bdo.co.uk/en-gb/news/2021/september-retail-results-remain-solid-but-discount-season-under-threat-from-supply-chain-disruption.
UK manufacturing orders were the strongest on record in September, but output struggled to keep pace. According to the latest monthly CBI Industrial Trends Survey, UK manufacturing total order books in September improved to their highest on record (since 1977). Eleven out of 17 sectors saw output increase, with headline growth being driven largely by the food, drink & tobacco sub-sector. Export order books also improved to their strongest since March 2019. However, output growth in the three months for September slowed for the second month in a row (+16% from +22% in August), despite remaining firm by historical standards. Anna Leach, CBI Deputy Chief Economist, said: "Today's survey highlights how amidst a variety of supply challenges, companies are beginning to struggle to meet high demand. Despite close to half of manufacturers surveyed reporting order books above normal, output growth has slowed sharply, albeit remaining relatively robust." To read the CBI's news release go to https://www.cbi.org.uk/media-centre/articles/manufacturing-orders-strongest-on-record-in-september-but-output-struggling-to-keep-pace-cbi-monthly-industrial-trends-survey/.
The UK manufacturing industry hits record highs as growth surges. According to a survey by Make UK and BDO, having seen "a brutal" 10% decline in output in 2020, the UK manufacturing sector is now set to recover almost all that loss in 2021, with growth due to a surge in both domestic and overseas orders. According to the survey, the balance on output improved to +42% from +36% in Q2 (+9% in Q1) — the highest balance in the survey's 30-year history. For 2021, Make UK predicts growth for manufacturing of 7.1% in 2021, down slightly from 7.8%, with GDP growth of +7.3%. Looking ahead, assuming vaccine effectiveness is strong, Make UK's forecasts suggest that manufacturing output levels will return to pre-pandemic levels by the end of 2022 — earlier than previous forecasts had suggested. To read BDO's news release go to https://www.bdo.co.uk/en-gb/news/2021/industry-hits-record-highs-as-growth-surges-make-uk-bdo-survey.
European & Global Economy 
The global recovery continues, but the momentum has weakened and uncertainty has increased. The IMF latest World Economic Outlook (WEO) advises that although the global economic recovery is continuing, the rapid spread of Delta and the threat of new variants have increased uncertainty about how quickly the pandemic can be overcome. As a result, the IMF projects that the global economy will grow by 5.9% in 2021 and 4.9% in 2022 (0.1% lower than in the July 2021 WEO Update). The downward revision for 2021 reflects a downgrade for advanced economies — in part due to supply disruptions — and for low-income developing countries, largely due to worsening pandemic dynamics. This is partially offset by stronger near-term prospects among some commodity-exporting emerging markets and developing economies. Beyond 2022 global growth is projected to moderate to about 3.3% over the medium term. To read the IMF's report or for a presentation of the latest WEO go to https://www.imf.org/en/Publications/WEO/Issues/2021/10/12/world-economic-outlook-october-2021.
Global growth remains strong but increasingly uneven. A new paper by Euler Hermes has reported that the COVID-19 delta-related uncertainty and soft stops will cost (only) -0.2 to -0.5% of GDP growth in advanced economies in 2021, and, overall, global growth should remain strong at +5.5% in 2021 and +4.2% in 2022. However, there is significant variation across countries, with vaccination rates, unwinding of supply bottlenecks and policy choices influencing the scale of catch-up. In the UK, US and Eurozone, Euler Hermes predicts GDP growth of 6.3%, 6.1%, and 5.0% in 2021, respectively, followed by growth in 2022 of 5.4%, 4.1%, and 4.2%, compared to more muted growth in Japan (2.5% in 2021, 3.2% in 2022, the Middle East (2.4% in 2021, 3.5% in 2022) and South Africa (3.8% in 2021, 2.4% in 2022). Unlike the Global Financial Crisis, economic scarring has been greater in most emerging economies, most notably those dependent on international trade and tourism. To read Euler Hermes news release with a link to the full report go to https://www.eulerhermes.com/en_global/news-insights/economic-insights/Global-economy-A-cautious-back-to-school.html.
The global economy is growing far more strongly than anticipated a year ago, but the recovery remains uneven. According to the OECD's latest Interim Economic Outlook, the global economy is growing far more strongly than anticipated a year ago, but the recovery remains uneven, exposing both advanced and emerging markets to a range of risks. The OECD says that the degree of extraordinary support from governments and central banks helped avoid the worst once the COVID-19 pandemic hit, and now, with the vaccine roll-out continuing, a gradual resumption of economic activity is underway. As a result, the OECD projects strong global growth of 5.7% this year and 4.5% in 2022 — little changed from its May 2021 Outlook of 5.8% and 4.4%, respectively. However, the report also cautions that economic tensions could undermine the recovery if not managed effectively by policymakers. In addition, rising commodity and shipping prices and stretched supply chains are pushing up inflation everywhere — although this is expected to be temporary. To read the OECD's news release go to https://www.oecd.org/newsroom/global-economic-recovery-continues-but-remains-uneven-says-oecd.htm.
A strong rebound in 2021 will boosts economies in emerging Europe and Central Asia. The World Bank has advised that "a surprisingly" strong rebound in the first half of this year boosted economic activity in emerging and developing countries in the Europe and Central Asia region, and the regional economy is now projected to expand by a better-than-expected 5.5% in 2021. The rebound was primarily driven by a strong recovery in exports during the first half of this year, as activity in the Euro area bounced back and commodity prices rose sharply, as well as strengthening domestic demand due to vaccinations and support packages. In 2022, the World Bank expects regional growth to moderate to 3.4%, as external demand and commodity prices further stabilise, global growth plateaus, and pandemic stimulus is withdrawn. However, it stresses that "the outlook remains highly uncertain given the continuation of the pandemic." To read the World Bank's news release go to https://www.worldbank.org/en/news/press-release/2021/10/05/strong-rebound-in-2021-boosts-economies-in-emerging-europe-and-central-asia-slowdown-ahead-in-2022#.
G20 GDP growth slows to 0.4% in Q2 2021, with large differences between countries. The OECD has reported that the GDP of the G20 area grew by 0.4% in Q2 2021, down from 0.9% in Q1 2021. However, this figure conceals large differences in growth, with accelerating growth in many countries mitigated by a slowdown in growth in Turkey, Korea, and Australia and a sharp contraction in India (by -10.2%, after 2.3% growth).  Although GDP for the G20 area as a whole exceeded its pre-pandemic level by 0.7% in Q2, this was driven by China, which, together with Turkey, recorded the highest recovery rates (8.2% and 8.8%, respectively). The majority of countries are still lagging behind pre-pandemic levels, with India experiencing the largest gap (-8.1%), followed by the UK (-4.4%) and Italy (- 3.8%). To read the OECD's release go to https://www.oecd.org/newsroom/g20-gdp-growth-second-quarter-2021-oecd.htm.
Credit Management News & Tools
Free resource: New International Debt Collections Handbook — 2021 issue. Atradius Collections has announced that its International Debt Collections Handbook for 2021 is now available. This issue includes detailed sections on the different stages of amicable settlement, financial regulations around collections, legal proceedings and insolvency procedures in more than 51 countries. Each individual country report also includes a snapshot of its current local economic situation, including GDP, major industries, import-export growth, and Atradius Collections' local success rate. To download a free copy go to https://atradiuscollections.com/global/connect/international-debt-collections-handbook.html.
Eurostat has released the September 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, including a quarterly index of bankruptcy declarations and a quarterly index of registrations of new businesses. To see the dashboard go to https://ec.europa.eu/eurostat/en/web/products-eurostat-news/-/wdn-20210917-1.
LDC'S latest report on retail and leisure activity over H1 is out now. Local Data Company (LDC) has announced that its latest bi-annual report is now available to download. This issue provides an update on the impact of market activity across the first six months of this year, including data on openings and closures across the UK and the impact of lockdown restrictions. To download a copy go to https://www.localdatacompany.com/blog/ldc-h1-2021-report-out-now?hsLang=en-gb.
Events & Professional Development
TXF Global 2021: Export, Agency & Project Finance: Madrid, 18-2O October.
HYBRID EVENT: PHYSICAL & VIRTUAL

We can't wait to welcome you in-person for the ultimate comeback festival in Madrid as TXF Global Export, Agency and Project Finance is back in the flesh for the first time in over 2 years at the Hotel Riu on October 19-20!
The conference will return with a twist, featuring only keynote speakers and panels, as well as much more networking sessions and activities than ever before.
While we are so excited to return in person, we will continue our investment and innovation in connecting this global community virtually too, whilst putting in place a range of measures to ensure all guests can be confident that your safety is absolutely paramount. Please take a look at our detailed travel and safety guidelines below.
TXF Members also get free access to the virtual aspects of the event, get in touch now to find out how you become a member and can get access to this event, all TXF export finance virtual events, our specialist export content library, members only content and events plus much more: membership@txfmedia.com.

Additional Networking Features for Physical Guests

18th October 17:00 CEST - WALKING TOUR (Meet outside Hotel Riu) Limited spaces left
Start the celebrations early and discover the history and culture of Madrid as you walk the medieval streets of Old Town . The tour will finish at our ice-breaker drinks where you can enjoy a drink or three.. and kick off your networking for the event with a bang!

18th October 19:00 CEST - ICE-BREAKER DRINKS
(bar announced later this week)
Alternatively, skip the stroll and just join us for ice-breaker drinks, we can’t wait to toast to our first in person event in over 18 months!

(If you would like to join us for either of the above activities, please email Evan at evan@kujenga.tech to request a place!)

19th October 17:30 CEST - COCKTAIL RECEPTION (Terrace 21 – Hotel RIU)
As the first day of fantastic content and long awaited in-person deal-making comes to an end, it's time to join the ultimate fiesta, with the cocktails flowing and conga line going, let's party like it's 2019 at our MUFG hosted networking drinks!

20th October 7.00 CEST - MORNING RUN (Meet outside Hotel Riu)
One for the early birds and athletes among us! Join our CEO, Dan Sheriff bright and early for a morning run around Madrid.

For more information and to register for this event go to https://www.txfnews.com/Events/Event/global21.
Consortia 2021, London and Virtual,19-20 October.
Blockchain is continuously being looked at by both banks and independent receivables finance providers to massively streamline their trade and receivables finance operations. The pandemic has led to a huge shift toward digital platforms, making blockchain even more relevant to ensure safe and transparent transactions.
Back for a second year, BCR’s Consortia 2021 will once again bring together the major consortiums pioneering blockchain and distributed ledger technology (DLT) for trade and receivables finance to the business and financial community. Consortia 2021 will provide a forum for the consortiums and their prospective partners and other interested parties which will showcase and evaluate their development and future.
The event is a perfect opportunity for discussion on how blockchain and DLT are impacting trade finance and the business opportunities that these new technologies offer to banks, funders, SMEs, government bodies, trade bodies and corporates etc. 
For more information go to https://bcrpub.com/events/consortia-2021.
National Credit Awards 2021. 21 October 2021. The Waldorf Hilton, London.
New for 2021, MoneyAge is proud to present the National Credit Awards.
The awards are designed to honour the outstanding professionals and firms in the many varied fields of the credit industry, to recognise, celebrate, and promote best practice, to support continuing development, and to contribute towards raising the standards within the credit arena.
The awards are free to enter and you can enter as many categories as you like.
Head over to the website to find out more.
SUBMIT YOUR ENTRY: https://www.moneyage.co.uk/creditawards/index.php.
Deadline for entries: 25 June 2021
BCR’s Alternative & Receivables Finance Forum, 18 November. London.
Businesses are adapting to changing global trade patterns and facing challenges of maintaining competitive and sustainable supply chains, while continuing to optimise their costs and cashflow. They are constantly looking for new technology-enabled funding models that have potential to help companies to adapt to geopolitical shifts, the rapid growth of eCommerce and the fallout from the Covid-19 pandemic. The Alternative & Receivables Finance Forum is a timely opportunity for receivables finance providers and ‘alternative’ SME funders to identify openings of this new trade era, address the choices SMEs are making to fill financial gaps, learn from the top industry players how the receivables finance sector is rebuilding and expanding after Covid. Join #ARF21 by booking your ticket at https://bcrpub.com/events/alternative-and-receivables-finance-2021. Professional Development.
GTR Nordics, 25 November. Stockholm.
Global Trade Review is delighted to announce that GTR Nordics will be returning to Stockholm as an in-person event, taking place on November 25, 2021. Following hot on the heels of COP26, GTR will once again provide the region’s leading trade gathering, bringing together a host of financing experts and innovators to plot a path for Nordic industry and commerce. Exploring the latest initiatives taking steps toward a carbon neutral future, an in-depth agenda will address the regulatory, efficiency and profitability challenges facing the Nordic trade and export financing sectors in the here and now, and pinpoint emerging business opportunities as the global economy sets sights on sustainable post-pandemic growth.
This hugely anticipated in-person event promises unparalleled networking opportunities with the sector’s most prominent experts, all within a Covid-safe environment in-line with the latest government regulations. For those seeking to catch up with old friends and forge fresh connections while gaining practical insights into the future of Nordic trade, export & ECA and supply chain financing, this event is not to be missed! 
Click here for more information.
Readers of Credit Insurance News' publications can receive a 10% booking discount, use code EBD10.
Stecis is getting back on track with Webinars, Classroom courses and Masterclasses.
As we all hope that the Covid-19 pandemic is under control after the summer, STECIS has planned again a number of classroom courses in November 2021. For Trade Credit Insurance and Surety Bonds, at each Foundation and Advanced courses will be offered in the vicinity of Amsterdam Schiphol. In case still necessary, all applicable Covid-19 restrictions will be in place during the classroom training courses. During the classroom trainings real, practical cases will be discussed. Additionally, various webinars on both Trade Credit Insurance and Surety Bonds have been already scheduled throughout the year. These webinars are interesting to all individuals who are starting their career in the TCI and/or Surety Bonds industry, but also for all other interested parties like brokers, re-insurers´ employees, lawyers, credit managers etc.
To expand our offering STECIS is currently developing three masterclasses on Trade Credit Insurance that will address the following topics: TCI and Digitalisation, Non-traditional TCI products and TCI and Finance. These masterclasses will be hold by top experts from the TCI industry presenting the recent developments and trends in the field of TCI. Joining these masterclass will be not only be an excellent way to keep up to date with important developments in the TCI world. The courses are also an excellent means to increase your professional network as you will meet other participants and top experts from the industry.
When the outlines of the three masterclasses are available, they will be shared via Credit Insurance News and the website of Stecis.
More information can be found on the Stecis’ website: www.stecis.org.
All courses will run at the Steigenberger Hotel at Amsterdam-Schiphol.
Further information can be obtained by sending an email to: info@stecis.org.

About the Sponsor: Atradius
With first-class service and unrivalled expertise, we help customers build robust trade strategies and become an intrinsic part of their businesses.
We offer cutting-edge tools, real-time insights, worldwide business intelligence and decades of experience to steer customers away from risk and seize new opportunities.
Let us help you.
For more information and to access a suite of free downloadable economic, country, sector and payment practices reports and export guides, visit www.atradius.co.uk or follow AtradiusUK on LinkedIn.
Copyright ©2021 Credit Insurance News. All rights reserved.
All news stories on Credit Insurance News' website are included with the prior permission of the copyright holder. Reproduction or redistribution in whole or in part, in any manner, without the express prior written consent of the copyright holder, is a violation of copyright law. If you, or your organisation wish to redistribute, republish or link-to all or any part of any Credit Insurance News Digest, you must first contact the copyright holder direct or email sally.brown@creditinsurancenews.co.uk for further information.

Terms and Conditions                         Privacy and Cookie Policy                    © 2021 Credit Insurance News