But here's a little secret: Trade Credit Insurance, or Accounts Receivable Insurance, isn't just for large or multinational companies. Fact is, no matter the size of your company, there's a Credit Insurance policy out there to support your business needs.
Here are three reasons why Trade Credit Insurance is ideal for your small business.
- It Gives Peace of Mind: With the right Trade Credit Insurance policy in place, your business is protected from unpaid invoices. That’s increasingly important in this economy, given that there’s been a 4% increase in the number of insolvencies forecasted globally for 2013. Small companies are hit especially hard in tough economic times; often they have neither the capital nor the resources to recover if customers fail to pay. Trade Credit Insurance makes sure you get paid if your customers default. It’s a simple yet powerful concept that can give you Peace of Mind.
- It’s Affordable: You may think that since Trade Credit Insurance is, well, an insurance policy, that it’s unnecessarily or excessively expensive. But the cost of Credit Insurance represents a small percentage of insured sales. Even when other cost factors are considered--including the debt loss history of your company and your customer base—the majority of business find Trade Credit Insurance to be highly cost-effective. And that’s before taking into account many additional benefits of Credit Insurance, including Risk Management, Credit Management, Bank Financing, and Sales Expansion.
- It Provides a Reliable Partner to Help you Manage the Ins and Outs: Small businesses usually don’t have the type of resources or number of personnel to devote to credit management like large corporations do. If you’re a small-business owner, you might fall into that category. That’s where TCI Advisors comes in. Managing Credit Insurance policies is all we do. We’ll secure the absolute best policy for you, but as a collaborative stake-holder and go-to resource, we’ll do so much more, including: keep you up-to-date on economic trends; provide credit limit decisions; monitor existing credit limits; examine your customers’ and prospects’ balance sheets; and request debt collection. Consider us your trusted partner and devoted resource to help you maneuver the ins and outs of credit insurance.