Credit Management September 2023

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SECTOR FOCUS AUTHOR – Gareth Anderson efficient technology that would not only improve their production capacity, but also reduce costs to such an extent that it delivers a timely and tangible return on investment. Debt is not for everyone, but for profitable businesses, with a healthy balance sheet, and a very clear plan of what that borrowing is going to fund and the return they can expect it can be a sound business decision. Shifting models As well as investing in plant and machinery, manufacturers may also be looking to shift their model of leasing their premises to acquiring their own. Again, it may not be for everyone, but taking on a commercial mortgage to acquire a new, more modern premises that has been built specifically with the purpose of being more energy efficient can similarly be transformative. Getting started can be a headache. Manufacturers may recognise a direction of travel towards a greener, more energy efficient future, but are not sure how to get there. Again, this is where banks can step in, not as ESG consultants, but rather by embracing their wider relationships and working collectively and collaboratively with their customers and partners to deliver more holistic solutions. It is not enough for banks simply to be order takers. The more successful banks are those with Relationship Managers in the field who take the time to better understand their customers, the people behind the business, their motivations and ideas, and their strategies for future growth. Then it is about connecting them to a wider ecosystem that can help them improve supply chain efficiencies, find new business opportunities, and deliver the funding they need to grow. Throughout COVID, many manufacturers stockpiled large amounts of cash – cash that is now sitting in a bank account, earning nothing and doing less. Whereas banks may have increased their interest rates on their savings products, current accounts and instant access accounts have remained flat. This has presented a huge opportunity for the challenger banks, and Allica Bank in particular, which recently launched its own business current account paying three percent interest without any penalties for early withdrawal, or limits on what can/cannot be taken out. For a manufacturer with £1 million in the bank, that’s £15,000 in interest earned while the money sits there, perhaps ring-fenced to pay a future HMRC bill or as a deposit for some new machinery. Even as recently as five years ago, we would not have been having conversations with manufacturers about their savings or excess cash balances. But times have changed, and the smarter banks have changed with them. Standing still is in fact going backwards. Supporting established SMEs with a comprehensive portfolio of asset finance, commercial mortgage, and current account products complemented by a network of Relationship Managers who truly get under the skin of the businesses they support will be key in moving the needle of a future PMI index in the right direction. Throughout COVID, many manufacturers stockpiled large amounts of cash – cash that is now sitting in a bank account, earning nothing and doing less. Gareth Anderson is Head of Business Management for Allica Bank. Brave | Curious | Resilient / www.cicm.com / September 2023 / PAGE 14
320,000 writs enforced Our enforcement agents are committed to enforce the high volume of writs we are entrusted with each year – you’re in good hands with us, the largest independent High Court enforcement company. More Authorised HCEOs than any other with over 400 years combined experience Excellent client service and agents covering all of England and Wales Multiple industry awards for our technology and training To find out more or instruct us 08450 999 666 www.hcegroup.co.uk Brave | Curious | Resilient / www.cicm.com / September 2023 / PAGE 15
Page 1 and 2: CREDIT MANAGEMENT CM SEPTEMBER 2023
Page 3 and 4: SEAN FEAST FCICM MANAGING EDITOR Ed
Page 5 and 6: CICM GOVERNANCE President: Stephen
Page 7 and 8: NEWS ROUNDUP HMT hesitates in regul
Page 9 and 10: NEWS ROUNDUP >NEWS IN BRIEF Think T
Page 11 and 12: INSOLVENCY PRE-PACKAGED ADMINISTRAT
Page 13: Manufacturers that have built resil
Page 17 and 18: This augmentation of human decision
Page 19 and 20: HIGH COURT ENFORCEMENT OFFICERS ASS
Page 21 and 22: Entries open until Friday 22 Septem
Page 23 and 24: CONSUMER CREDIT In difficult financ
Page 25 and 26: Change of approach In reality, the
Page 27 and 28: INSOLVENCY “Business owners remai
Page 30 and 31: TRAINING & DEVELOPMENT Masters of R
Page 32 and 33: International Trade Monthly round-u
Page 34 and 35: COUNTRY FOCUS Could the Philippines
Page 36 and 37: COUNTRY FOCUS AUTHOR - Adam Bernste
Page 38 and 39: Brave | Curious | Resilient / www.c
Page 40 and 41: Towering above the competition At W
Page 42 and 43: CICM CORPORATE PARTNER Positive syn
Page 44 and 45: Introducing our CORPORATE PARTNERS
Page 46 and 47: SPONSORED CONTENT JOINING THE DOTS
Page 48 and 49: SPONSORED CONTENT Statutory Demand
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Page 54 and 55: HR MATTERS Take it, don’t leave i
Page 56 and 57: Cr£ditWho? CICM Directory of Servi
Page 58 and 59: Cr£ditWho? CICM Directory of Servi
Page 60: Fill your vacancy or find your next

Credit Management September 2023

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