Credit Management November 2023

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SEAN FEAST FCICM MANAGING EDITOR Editor’s column Cows, milk and why late payment is a complex issue EVERY so often a story lands on your desk that makes you smile. This month it was one that transported me back to my childhood, and a campaign from Unigate (for anyone below the age of 50 this could all be quite meaningless – Unigate was sold to Dairy Crest in 2000). Very briefly it was an advertising campaign about ‘Humphreys’ who were milk thieves whose only physical presence was a red and white straw that marched around at the bottom of your television screen and drained the milk from a bottle to the tune of ‘watch out watch out there’s a Humphrey about.’ I assume it was to make it fun for kids to drink more milk and drink it quickly before it got pinched. It was, frankly, genius and led to a whole series of ‘merch’ including a T-shirt that I probably still have somewhere. The point is that ever since then I have always been fascinated by the dairy industry, and as a farmer’s son was always a little disappointed my father went down the beef route (and the odd pig) rather than dairy! So I was delighted to hear of an organic dairy in Ayrshire, Mossgiel Organic Farm, that is going places, expanding its product offering, and collaborating with five other local dairies as a co-operative to act as a bridge between the farming families and its buying partners. In interviewing farmer Bryce Cunningham for your magazine, I was very interested to hear how he was using Invoice Finance as a tool to manage his cashflow, to fund the gap between delivery and payment. While it is often the larger customers who are blamed for putting the squeeze on smaller suppliers, I was also intrigued – though not surprised – that Bryce hasn’t found this to be the case: “How quickly we get paid is usually more to do with the systems our customers use,” he told me. “Those that are more digital, and more compatible with our own, are usually the quickest to pay, whereas those who are still using primarily paper-based systems take longer to pay their bills.” So a note once again to the various pressure groups, politicians and organisations doing their bit to support SMEs and address the late payment challenge. Keep up the good work but remember it’s a complex issue that cannot be over-simplified into assuming all big businesses are bad, and all smaller businesses are hard done by. As farmer Bryce’s experience shows, his investment in technology and Invoice Finance is paying off. If smaller businesses gave more focus to credit management, and the professional advice, technology and services available, not least though our members and partners, they could go a long way to solving the problem for themselves. Brave | Curious | Resilient / www.cicm.com / <strong>November</strong> <strong>2023</strong> / PAGE 3
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Page 5 and 6: CICM GOVERNANCE President: Stephen
Page 7 and 8: Higher mortgage rates put a new coh
Page 9 and 10: NEWS ROUNDUP “We’re earning les
Page 11 and 12: INSOLVENCY Another factor to weigh
Page 13 and 14: INSOLVENCY AUTHOR - David Kerr clas
Page 15 and 16: INSOLVENCY IN the complex world of
Page 17 and 18: HIGH COURT ENFORCEMENT OFFICERS ASS
Page 20 and 21: CONSUMER CREDIT Driven to default?
Page 22 and 23: CONSUMER CREDIT AUTHOR - Heather Gr
Page 24 and 25: MOOVING UPWARDS Scottish farmer sho
Page 26 and 27: EYE OF THE BEHOLDER Equality, preju
Page 28 and 29: OPINION It is clear that while ther
Page 30 and 31: HR MATTERS STRESS AND YOU What are
Page 32 and 33: HR MATTERS AUTHOR - Gareth Edwards
Page 34 and 35: International Trade Monthly round-u
Page 36 and 37: COUNTRY FOCUS The Netherlands may b
Page 38 and 39: COUNTRY FOCUS AUTHOR - Adam Bernste
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Page 42 and 43: CICM TRAINING Training courses that
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RISING STAR A Cut Above How a forme
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BRANCH NEWS NEW NORMS CICM East of
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Cr£ditWho? CICM Directory of Servi
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