Trade Credit Insurance Top-up Scheme Still Not Working
Commenting on the news that the £5 billion Government fund set up to help small businesses which have seen their insurance cover diminish has only been used by 72 companies, Edward Rimmer, chief executive at leading independent invoice financier Bibby Financial Services, said: “The figures speak for themselves. Of the £5 billion earmarked to support small businesses, only £18 million has been used. This is a huge waste of funding, and the Government clearly needs to be doing more to communicate that this support is available to small and medium-sized businesses.” The Trade Credit Insurance Top-up Scheme was launched in May to help businesses that have had their cover reduced by risk-averse insurers. However, the scheme recently revised its eligibility criteria... »
