Welcome to the March 2020 issue of Credit Management News Digest. This issue is sponsored by Nimbla

Index
UK Late Payment & Insolvencies
The silent global trade barrier for UK businesses. New research from MarketFinance has found that 43% of invoices from UK companies to businesses in the UK’s top ten trading partner countries (US, Germany, Netherlands, France, Ireland, China, Switzerland, Belgium, Italy, Spain) were paid late in 2019. This is a significant increase from 2018 when 30% were paid late. Overall, US companies were the worst late payers, taking an extra 51 days to settle invoices from agreed terms - up from 13 days late in 2018, and paying more invoices late - up from 40% in 2018 to 53% in 2019. In Europe, German firms were the worst offenders. Not only did the number of invoices paid late double between 2018 and 2019 (from 36% to 71%) but delays in settling doubled from 14 to 32 days. Outside Europe, 84% of invoices sent to Chinese businesses were paid late, the highest of number all countries, and an increase from 57% in 2018. To read MarketFinance's news release go to https://blog.marketfinance.com/2020/02/12/late-payments-the-silent-global-trade-barrier-for-uk-businesses/.
Late payments are ‘business as usual’ for small businesses in difficulty. Late payments from customers are ‘business as usual’ for many small business owners in difficulty, according to new research from the Money Advice Trust, the charity that runs Business Debtline. Nearly half (45%) of callers to Business Debtline surveyed have experienced problems with late payments from customers, with most typically having to wait up to two months beyond payment terms to receive the money they are owed. The research found a range of drivers behind late payments, with 59% suggesting that their customers used late payments to manage their own cash flows and 35% believing that their customers used late payments, knowingly, as a business practice. Four in 10 (39%) worried that if they chased late payments, they would lose future business. To read Money Advice Trust's news release go to http://www.moneyadvicetrust.org/media/news/Pages/Late-payments-are-%E2%80%98business-as-usual%E2%80%99-for-small-businesses-in-difficulty.aspx.
Three-quarters of the UK's 100 largest contractors have not improved their payment times in the past two years. Building has reported that a new survey of the construction sector by M&DH Insurance has indicated that although the top 25% of the UK's largest contractors now appear to be improving the length of time they're taking to settle their invoices, the three other quartiles – those firms occupying positions 26 to 100 – improved by no more than 4.2 days, with the second quartile improving its payment times by just 0.2 days since 2018. Furthermore, while the proportion of bills paid within 30 days by the largest 25 contractors grew by 18.5%, among the smallest 25 the figure fell by 5.5%. To read Building's article go to https://www.building.co.uk/news/smaller-firms-lagging-behind-in-payment-times-survey/5104684.article.
More UK businesses are penalised for failing to pay suppliers on time. The Chartered Institute of Credit Management (CICM) has announced that eleven firms – including several big names within the military, aerospace and defence sectors – have been suspended from the Prompt Payment Code for failing to pay suppliers on time. BAE Systems (Operations) Limited, Leonardo MW Limited, and Smiths Detection are among those who have failed to honour their Code commitment to pay 95% of all supplier invoices within 60 days. Shell UK Limited and Bottomline Technologies Limited are also on the list, as both failed to engage with the CICM within the deadline and submit action plans towards achieving compliance. To read CICM's news release go to https://www.cicm.com/more-businesses-penalised-for-failing-to-pay-suppliers-on-time/.
UK insolvencies rose by almost 5% in 2019. The number of UK companies falling into administration increased by just under 5% in 2019, according to new analysis from KPMG. The rise was driven by a spike in insolvencies in the third quarter of the year, during which 420 firms went into administration - including Jack Wills, Karen Millen, Late Rooms, and Eversmart Energy. The final quarter of the year saw insolvencies fall back to more normal quarterly levels (with 311 administrations between October and December), with notable cases including Clintons, Toto Energy, and women's fashion chain Bonmarche. To read KPMG's news release go to https://home.kpmg/uk/en/home/media/press-releases/2020/02/insolvencies-rise-in-2019.html.
Business groups sound an alarm over ‘serious concerns’ with the UK Government’s insolvency plans. R3 has reported that UK business groups and insolvency experts are again sounding the alarm about Government plans to prioritise repayments to HMRC over repayments to other creditors in insolvencies from 6 April 2020. Business groups previously wrote to then-Chancellor Rt Hon Sajid Javid MP in September 2019 as part of a consultation on the draft Finance Bill. In a joint statement ahead of the Budget on 11 March. The groups warn that the Government's plan will damage access to finance for UK businesses and may increase the knock-on effects of insolvencies on supply chains, customers, consumers, and pensions. Currently, HMRC is repaid alongside other unsecured creditors. To read R3's news release go to https://www.r3.org.uk/press-policy-and-research/news/more/29289/page/1//.
UK Exports & Manufacturing
2019 was a record-breaking year for UK exports. According to new figures published by the Office for National Statistics (ONS), the UK has now experienced 45 consecutive months of annual export growth on a rolling annual basis. UK companies exported £689 billion worth of goods and services across the globe – up by 5.0% compared to 2018. Some of the UK’s fastest-growing goods exports include: Cereals which were worth £2.5 billion, up by 16.6%; Fish and shellfish which were worth £2.1 billion, up by 13.1%; Meat and meat preparations which were worth £2.1 billion, up by 12.4%. Overall, goods exports to non-EU countries grew by 13.6%. To read the Department for International Trade's news release go to https://www.gov.uk/government/news/2019-was-record-breaking-year-for-uk-exports.
New data shows a growing global appetite for British food and drink exports. Statistics reported by HMRC show that the UK exported nearly £24 billion worth of high-quality food and drink in 2019 - up by 4.9% compared to 2018 and an 18% increase since 2016. The US was the UK’s second-biggest export market, worth £2.4 billion and up by 8.0% in 2019. Demand from Japan is also on the rise, with UK food and drink exports growing 14.1% to £311.5 million. During Prime Minister Abe’s visit to the UK in January 2019, the ban on Japanese imports of British lamb and beef was lifted. Since then, the latest figures show that during 2019 exports of British meat to Japan increased by nearly 200% and reached nearly £9 million. To read HMRC's news release go to https://www.gov.uk/government/news/growing-global-appetite-for-british-food-and-drink-exports.
UK exporters continued to tread water during Q4 2019. According to new research by British Chambers of Commerce (BCC) and DHL Express, manufacturing export orders weakened for a second consecutive quarter in Q4 2019. Indicators for service sector exporters also decreased and remain at historically low levels. The balance of manufacturing exporters reporting an increase in export orders fell for the second consecutive quarter to -2. Those reporting increased domestic orders rose slightly to -1 from -4 in Q3 but still significantly lower than Q1 2019 when the figure stood at +16. Domestic and export sales in the sector improved slightly in the quarter to +3 and +5 respectively but remain low since a sharp fall in Q3 2019. Furthermore, the balance of exporting manufacturers reporting improved cashflow improved to +2 from a low of –9 in Q3, but remains historically weak. A year ago, in Q4 2018, the figure stood at +9. To read BCC's news release go to https://www.britishchambers.org.uk/news/2020/02/bccdhl-trade-negotiations-must-unlock-potential-of-struggling-exporters.
UK Manufacturing: Key Economic Indicators. The House of Commons Library has published a new research briefing which indicates that total UK manufacturing output fell by 1.1% in the three months to December 2019 compared with the same three months in 2018. 11 out of 13 manufacturing sub-sectors declined, led by transport manufacturing which declined by 1.9% on the quarter. The Briefing also noted that recent data from Markit/CIPS observed that while domestic demand continued to recover as a consequence of reduced political uncertainty, supply-chain disruptions were emerging as a result of the spread of the Coronavirus. In 2018, the manufacturing sector accounted for 10% of total UK economic output and 8% of jobs. To read the research briefing go to https://researchbriefings.parliament.uk/ResearchBriefing/Summary/SN05206.
Early signs of a turnaround in UK manufacturing activity. According to the latest CBI monthly Industrial Trends Survey, UK manufacturing activity remained weak in the three months to February, with output volumes falling for a fifth rolling quarter in a row, albeit at a slower pace than in January. Output rose in only five out of 17 sub-sectors, with the headline drop in output primarily driven by the food, drink & tobacco and mechanical engineering sub-sectors. Looking ahead, UK manufacturers expect output to recover somewhat in the three months ahead, with predictions for growth improving for the second successive survey. To read the CBI's news release go to https://www.cbi.org.uk/media-centre/articles/early-signs-of-a-turnaround-in-manufacturing-activity-cbi-industrial-trends/.
UK Retailers
Storms and Coronavirus fears dampen UK high street sales. According to BDO's latest High Street Sales Tracker, in-store like-for-like sales dropped by –0.9% in February from a dire base of -3.7% for February last year. Year-on-year lifestyle sales were down -2.9% - the third straight February of negative in-store sales for the category, while sales of homewares fell by -3.6%. Although fashion sales saw a marginal improvement of +0.3% in February, they weren't even close to offsetting a negative base of -3.5% for last year. Away from the high street, non-store sales were also weak throughout February with an increase of +6.0% - the second-worst monthly non-store like-for-like since 2010. To read BDO's news release go to https://www.bdo.co.uk/en-gb/news/2020/high-street-sales-dampened-by-storms-and-coronavirus-fears.
Almost 1/4 of UK retailers are being hit by severe supply disruption amid Coronavirus fears. Retail Gazette has reported that a new survey by Retail Economics has found that almost 1/4 of retailers are being hit by severe supply disruption amid Coronavirus fears. However, although 24% of retailers say that the disruptions could lead to “a permanent change in their business,” only 7% have enough flexibility in their supply chain to be able to switch suppliers. The report also found that 45% of UK retailers have already seen a negative impact on sales, and three-quarters of retailers expect to see a sales decline if the virus persists. To read Retail Gazette's article go to https://www.retailgazette.co.uk/blog/2020/03/almost-1-4-retailers-hit-severe-supply-disruption-amid-coronavirus-fears/.
UK charity shops thrive as high street retailers struggle. According to research by BDO, UK charity retailers are outperforming high street stores as shoppers turn to more affordable and sustainable alternatives. BDO’s Charity Retail Sales Tracker – which tracks the monthly like-for-like sales of 4,000 charity stores – reports total like-for-like sales for charity retailers increased by +3.5% in October, +5.8% in November and +3.9% in December. This compares to a challenging year for the UK high street, which recorded its fifth year of falling in-store sales in 2019. To read BDO's news release go to https://www.bdo.co.uk/en-gb/news/2020/charity-shops-ring-in-sales-as-high-street-retailers-struggle.
Coronavirus: Economic Impact 
Note: As this is such as fast-moving news story, that facts and figures regarding the potential economic impact of Coronavirus are being updated continually. For context, we have provided a date next to most of the items below. 
Coronavirus: The global economy at risk (published 3 March 2020). According to the OECD's latest Interim Economic Outlook, Coronavirus presents the global economy with its greatest danger since the financial crisis. The Interim Outlook presents both a best-case scenario, in which the extent of the Coronavirus is broadly contained, and a 'domino' prospect of contagion that is more widespread. Even in the best-case scenario, a sharp slowdown in world growth is expected in the first half of 2020, with global economic growth falling to 2.4% for the whole year. However, the OECD warns that broader contagion across the wider Asia-Pacific region and advanced economies could cut global growth to as low as 1.5% this year - halving the OECD's previous projection for 2020. To read the OECD's news release (with links to a presentation) go to http://www.oecd.org/economy/global-economy-faces-gravest-threat-since-the-crisis-as-coronavirus-spreads.htm.
Coronavirus and the UK economy (published 9 March). The House of Commons Library's Spring Budget 2020: Background Briefing notes that at the beginning of 2020 the UK economy was growing modestly. However, the report warns that the spread of Coronavirus has already had an impact on forecasts, with the OECD recently warning that the UK could see a reduction from 1.4% GDP growth in 2019 to 0.8% in 2020. However, although risks to the outlook for the UK economy are high, the Briefing Paper stresses that the potential magnitude of any shock is very uncertain. "Ultimately, the economic effects of Coronavirus in the UK are intrinsically linked to the spread of the disease itself and the response of authorities, businesses and consumers to it." To read the House of Commons Briefing Paper visit https://commonslibrary.parliament.uk/research-briefings/cbp-8842/.
UK GDP growth was flat in the three months to January 2020 (published 11 March). Latest figures from the Office for National Statistics (ONS) indicate that UK GDP remained level in the three months to January 2020, following no growth in Quarter 4 2019. Commenting on the figures for the three months to January, Head of GDP Rob Kent-Smith said: “The economy continued to show no growth overall in the latest three months. Growth in construction, driven by housebuilding, offset yet another decline in manufacturing, particularly the drinks, cars and machinery industries." The services sector also showed no growth, with falls in retail and telecoms balanced by strength in rentals, employment and education. To read the ONS' news release go to https://www.ons.gov.uk/economy/grossdomesticproductgdp/bulletins/gdpmonthlyestimateuk/january2020.
The risks confronting global businesses have reached an extreme level (published 26 February). Dun & Bradstreet's Global Business Impact score for Q1 2020 indicates that despite two-quarters of slight improvement, the risks confronting global businesses have now hit their highest level since the index was introduced in Q3 2014. This has been driven mainly by the outbreak of Coronavirus and, D&B notes, illustrates how unexpected events can suddenly worsen the risk environment for businesses operating cross-border. The Q1 score of 318 is now at an extreme level, having trended upwards from its low of 219 only two years previously, and is well above the long-term average of 258. To read D&B's news release go to https://www.dnb.co.uk/perspectives/finance-credit-risk/quarterly-global-business-risk-report.html.
Uncertainty is becoming the new normal (published 19 February). The IMF has advised that although in January it predicted that global growth would strengthen from 2.9% in 2019 to 3.3% in 2020 and 3.4% in 2021, the global economy is now far from on solid ground. While some uncertainties have receded, new ones have emerged, the most pressing of which is currently Coronavirus. The IMF notes that if the disruptions from the virus end quickly in China, this could result in a sharp impact to Chinese GDP in Q1, but only a small reduction for the entire year. However, a long-lasting and more severe outbreak in China and other countries would result in a sharper and more protracted growth slowdown, disrupting global supply chain and reducing investor confidence. To read the IMF's news release go to https://blogs.imf.org/2020/02/19/finding-solid-footing-for-the-global-economy/.
Winter 2020 Economic Forecast: Offsetting forces confirm subdued growth (published 13 February). The European Commission's Winter 2020 Economic Forecast predicts that the European economy is set to continue on a path of steady, moderate growth, and notes that the euro area has now enjoyed its longest period of sustained growth since the euro was introduced in 1999. However, while the forecast projects that euro-area GDP growth will remain stable at 1.2% in 2020 and 2021, the report notes that the outbreak of Coronavirus, with its implications for public health, economic activity and trade, especially in China, is a new downside risk. To read the European Commission's news release go to https://ec.europa.eu/commission/presscorner/detail/en/ip_20_232.
Please note that the text above is a summary of the European Commission's news release.
UK listed companies warn on profits due to Coronavirus. InfolinkGazette has reported that UK listed companies Tekmar Group PLC (a provider of technology and services to the global offshore energy markets), and Cathay International Holdings Limited (an investor and operator in the healthcare sector in China), have recently issued profit warnings linked explicitly to the impact of the Coronavirus. Greg Connell, Managing Director of InfolinkGazette, warned, "we are expecting the trickle of coronavirus profit warnings to become an outpouring," but also noted that Coronavirus might not always be bad news for corporate profits. For example, mobile payments platform provider Boku reported larger than expected volume increases in countries that are most affected by Coronavirus. To read InfolinkGazette's news release go to https://www.infolinkgazette.com/?pid=6 .
Credit Management News
Quality of data is a top priority for the credit industry in 2020 and beyond. A new study of credit management professionals from Equifax Ignite has revealed that nearly three quarters (72%) of respondents believe that there is scope for future improvement of data analytics at their current companies. The research also reveals that Artificial Intelligence (AI) is considered to be the most important investment for these sector specialists to improve the quality of decision-making. Two thirds (66%) said they are currently using or are planning to use AI to improve credit decisions. To read Equifax's news release go to https://www.equifax.co.uk/about-equifax/press-releases/en_gb/-/blog/quality-of-data-is-top-priority-for-credit-industry-in-2020-and-beyond.   
Balancing the books is the number one use of small business credit. According to new figures from the latest Federation of Small Business’ Index (SBI), 37% of UK small businesses that made successful finance applications last quarter used the sums raised to manage cashflow rather than invest in their firms. Fewer than one in four (23%) used finance to update equipment, while even smaller proportions used funds for expansion of their business (16%) or recruitment (2%). 40% of small firms describe credit as ‘unaffordable’ – 3% higher than this time last year – despite the fact that 41% of successful applicants are being offered lending rates below 4%.  To read the FSB's news release go to https://www.fsb.org.uk/resources-page/balancing-the-books-number-one-use-of-small-business-credit-as-late-payments-top-20-billion.html.
Brexit impacts UK companies' supplier risk appetite. Cranfield School of Management has published a new report which uses Dun & Bradstreet (D&B) data, to investigate the risks and measures UK and EU businesses have taken regarding their supply bases since the Brexit referendum in June 2016. The report looks at four key metrics (Supplier Criticality, Supplier Financial Risk, Global Sourcing Risk and Foreign Exchange risk) to assess overall supply chain risk in the UK as a whole, then delves deeper into supplier country preference by looking at proportional transactions between buyers and suppliers in the UK and the rest of the EU. For more information and to download the full report fo to https://www.dnb.co.uk/perspectives/supply-chain/brexit-impact-on-supply-chain.html.
Advice for small businesses on how to minimise potential disruption from Coronavirus. The Federation of Small Businesses (FSB) is urging companies to think about how their business insurance will work if their company closes due to an outbreak of the virus, and warns that standard policies may not include any protection if a business suffers due to an outbreak of disease, regardless of circumstance. Companies with Business Interruption cover should check whether this includes an extension for 'notifiable diseases' and, if so, whether Coronavirus is covered. If it isn’t, the FSB suggests that you may be able to ask for it to be added by your insurer, but they are within their rights to refuse, or to ask for an increased premium. To read the FSB's news release go to https://www.fsb.org.uk/resources-page/press-coronavirus-covid-19.html.
Events & Offers
20th anniversary Receivables Finance International Convention, 10-11 March. London.
Join the global receivables finance sector's premier event:
This year’s 20th anniversary Receivables Finance International Convention is set to be BCR’s biggest yet: 47 speakers confirmed and a substantial exhibition of technology providers plus the RFIx Awards Gala Dinner.
RFIx is happening at a very special time of rapidly increasing scope and opportunity for the receivables finance industry. This whole sector is evolving and developing so rapidly that these are very exciting, even shocking times. Come, join us and be a part of something special…
Book your place for #RFIx20, which takes place on 10-11 March 2020, London Marriott Hotel Grosvenor Square and help define the future of working capital finance: Go to https://bcrpub.com/events/rfix-%20receivables-finance-international-convention-2020 to https://bcrpub.com/events/rfix-receivables-finance-international-convention-2020.
GTR Africa, 11-12 March. Cape Town.
GTR Africa returns to Cape Town on March 11-12 for the definitive event in African trade and infrastructure finance, set to welcome over 400 delegates all keen to discuss the unrivalled business opportunities found on the continent. Take advantage of the opportunity to hear from a wide range of experts, including corporates, banks and alternative financiers, government bodies and various other actors all involved in the exciting world of African trade, as well as unrivalled chances to network and enjoy the beautiful setting of Cape Town!
Don’t miss your chance to join leading corporates and trade specialists for two days of discussion, debate and networking. Limited amounts of complementary corporate passes are available to those who are exporters, importers, manufacturers, distributors, traders & producers of physical goods only. For more information, visit here.
GTR Russia 2020, 1 April. Moscow.
GTR Russia 2020 will once again come to Moscow in April. Russia’s most established gathering for the trade and export finance industry last year gave increased attention to the corporate experience in both the import and export space, as well as offering a platform for local and international ECAs to offer their perspectives and plans. Attendees will benefit from critical market insight and idea-sharing through a series of informative discussions, and networking sessions in various formats, providing access to over 100 companies engaged in some of the most influential sectors in the region. 
Don’t miss your chance to join leading corporates and trade specialists for a day of discussion, debate and networking. Limited amounts of complementary corporate passes are available to those who are exporters, importers, manufacturers, distributors, traders & producers of physical goods only. For more information, visit here.
GTR UK 2020. 6 May. London.
GTR UK 2020 will take place in London on May 6, bringing the trade community together to discuss the potential implications for corporates, financiers and policymakers alike. The event will also consider the important role that all stakeholders have to play in promoting British businesses abroad and seizing on the huge opportunities to secure the UK’s future prosperity, with a strong focus on the role of the financial services community and the UK government in developing a global network to support trading companies. 
Don’t miss your chance to join leading corporates and trade specialists for a day of discussion, debate and networking. Limited amounts of complementary corporate passes are available to those who are exporters, importers, manufacturers, distributors, traders & producers of physical goods only. For more information, visit here.
GTR East Africa 2020, 14-15 May. Nairobi.
GTR East Africa marks its 11th annual conference in Nairobi, Kenya on 14-15 May 2020, where a cutting edge agenda will explore the key macroeconomic, geopolitical, financial market and tech trends shaping the East African trade finance landscape. This two-day conference provides GTR attendees with a unique opportunity to network with over 350 delegates all under one roof.
Don’t miss your chance to join leading corporates and trade specialists for two days of discussion, debate and networking. Limited amounts of complementary corporate passes are available to those who are exporters, importers, manufacturers, distributors, traders & producers of physical goods only. For more information, visit here.
TXF Global 2020: Export, Agency & Project Finance, 3-5 June 2020. Madrid.
The global export, agency & project finance games return for 2020! Join TXF on 3-5 June in Madrid for the largest gathering of its kind with a vision to taking your network further than ever before.
With the CEOs of EKF, MIGA, US EXIM and more already in training for the Olympic games, along with 1000 of the industry’s key players, quite simply, this is the event you cannot afford to miss.
Packing the mightiest of punches, TXF Global will again combine keynote addresses from CEOs and state ministers outlining the future of industry, sustainability and digitisation, as well as infrastructure and project roadmaps. Mixed with detailed technical workshops, lively debate forums and regional roundtables TXF Global allows for an intimate networking environment like no other.
As a Credit Insurance News member, get an exclusive 15% off the standard ticket price using code: LETTHEGAMESBEGIN on the booking page.
Visit the website to find out more.
GTR US 2020, 17 June 2020. Chicago.
GTR US 2020 will return to Chicago for its fourth year on June 17, 2020, where US companies and their financing partners will meet to discuss the evolution of the trade, supply chain and working capital space. Featuring a host of expert speakers, the event will provide the latest business intelligence required to navigate trade-related risks, and the practical know-how enabling those tasked with facilitating US commerce to form resilient, agile trade financing and risk management strategies. With leading corporates, banks, financiers, insurers and digitization specialists in attendance, this event is not to be missed for those looking to create crucial industry contacts and optimize their trade business. 
Don’t miss your chance to join leading corporates and trade specialists for a day of discussion, debate and networking. Limited amounts of complementary corporate passes are available to those who are exporters, importers, manufacturers, distributors, traders & producers of physical goods only. For more information, visit here.
GTR Asia 2020, 8-9 September 2020. Singapore.
GTR Asia will return to Singapore from September 8-9 to host over 1,300 decision-makers and leaders from the global trade, export and fintech community. A leading global financial hub and home to a dynamic and thriving financial ecosystem, Singapore provides the perfect backdrop to explore the future of international trade and investment. 
Offering a truly global perspective and tackling issues with a forward-looking outlook, GTR aim to create events for those passionate about issues that define the trade finance world. Hosted for over a decade, GTR Asia is recognised as the world’s largest international gathering for local and international organisations: from banks to multinational corporations and SMEs, independent financiers, commodity brokers and traders, insurers and risk managers, lawyers, consultants, ECAs and multilaterals and many more. 
Attendees will gain valuable business contacts and learn from the leading figures in the industry; Hear fresh and challenging perspectives from over 100 of the world’s leading trade, treasury and fintech experts; Enjoy innovative content designed to foster maximum engagement between speakers and delegates, bringing all parties involved in Asian trade together for a two-day focused conference and networking exhibition. 
Don’t miss your chance to join leading corporates and trade specialists for two days of discussion, debate and networking. Limited amounts of complementary corporate passes are available to those who are exporters, importers, manufacturers, distributors, traders & producers of physical goods only. For more information, visit here.
Commodities Trading Forum, 16 September 2020. Geneva.
Building on the success of 2019’s inaugural Geneva event and reflecting increased collaboration and partnership with the Swiss Trading & Shipping Association (STSA), GTR is delighted to announce that its newly expanded Commodities Trading Forum will be taking place at the Intercontinental Hotel Geneva on September 16, 2020. Co-hosted and held in partnership with both the STSA and PwC, and reflecting on Switzerland’s role as one for the world’s leading hubs for commodities from oil and gas to metals and agribusiness products, the conference will provide a comprehensive overview of the global commodities and commodity finance markets. Attendees will benefit from critical market insight and idea-sharing through a series of interactive and informative session formats, whilst unchallenged networking opportunities will provide access to over 200 different companies involved in the financing of global commodities. 
Don’t miss your chance to join leading corporates and trade specialists for a day of discussion, debate and networking. Limited amounts of complementary corporate passes are available to those who are exporters, importers, manufacturers, distributors, traders & producers of physical goods only. For more information, visit here.
GTR Nordics 2020, 12 November 2020. Stockholm.
After many consecutive years of attendance growth we are delighted to announce that GTR Nordics 2020 will take place on November 12, moving to the larger event space at the Radisson Blu Waterfront, Stockholm. While offering a more comfortable space to mingle, this also provides the opportunity to add some exciting new event features. GTR Nordics 2020 promises to be the biggest and best yet: Watch this space for more details as we move towards the conference date! Last year GTR Nordics returned to Stockholm and welcomed another record-breaking audience of over 500 trade finance experts, insurers, bankers, ECAs, technology innovators and corporates of all sizes. 
Don’t miss your chance to join leading corporates and trade specialists for a day of discussion, debate and networking. Limited amounts of complementary corporate passes are available to those who are exporters, importers, manufacturers, distributors, traders & producers of physical goods only. For more information, visit here.
About the Sponsor: Nimbla
Nimbla is on a mission to make trade credit insurance more accessible, flexible and affordable for small and medium-sized enterprises (SMEs) in the UK and abroad. We bring invoice insurance to an ever-growing number of companies with advanced technology that we've developed in-house, and through exciting new sales channels. 
Our team has developed market-leading risk-modelling technology that improves the speed and the quality of risk decisions. Through this technology, we take the pain out of trade credit insurance. It enables our customers to protect their business against the risk of insolvent customers in a fast and affordable way.
Through our recently announced partnerships with Barclays and the Federation of Small Businesses (FSB), we have taken big steps in our mission to make trade credit insurance more accessible. The relationship managers of Barclays are now introducing Nimbla to their SME clients in several regions, and we will bring invoice insurance to their clients across the country later this year. The FSB is offering our product to their 160,000 members through their insurance platform. 
This year, we’re working hard to improve invoice insurance further by making the product available to companies based abroad and to exporting companies based in the UK, starting with Ireland and The Netherlands. We’re also looking forward to providing a debt collection service free of charge to Nimbla customers and to offering a subscription-based invoice insurance product, a more flexible way for companies to insure their invoices automatically. 
For more information about Nimbla and to get in touch with the team, please visit the website.
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