Global Credit Insight - Edition 4

Welcome back to the Global Credit Insight, a wrap up of October, updating you on our latest company news, and empower you with a fresh perspective of the international credit industry. What a month October has been... starting with an incredible collection from the GCR team.

We Recovered ￡517,475 Of Aged Debt from China

In our bi-weekly article series: Why It Matters, we discussed a recent case involving nearly four years of non-payment—a considerable amount of ￡517,475 GBP was owed. In collaboration with our trusted partners in China, we successfully recovered this sum for our client, with more to come once a small on-site task is completed.

Read the full article here

We asked CFO's!

We love to hear the insights of our network, we run a few polls per month on LinkedIn.

In today’s interconnected world, many SMEs are broadening their horizons and diving into international trade. But with new opportunities come unique challenges, especially when it comes to managing overseas debt. As financial leaders, it’s essential for CFOs to understand the intricacies of foreign debts and their impact on their organisation.

We wanted to know how SME's manage overseas debt risks? We curated the following options:

?? Risk assessments

?? Diversified funding

?? Local advisors

?? No management

We were surprised that 67% of voters stated that they had 'No Management' in place in their organisation, whilst 33% voted Local Advisors.

The results of this poll highlight a concerning gap in how SMEs manage overseas debt risks. With 67% of voters admitting they have no management in place, it’s clear that many businesses may be leaving themselves exposed to potential financial challenges. As global trade expands, taking proactive measures, like engaging local advisors or conducting risk assessments, is crucial for protecting your organisation’s financial stability.

If you would like to connect with us to take the first steps in mitigating this risk, let's talk.

We connected and celebrated wins!

This month was a brilliant month for social connection for GCR. The team got out the office on multiple outings.

CEO, Charles Mayhew FCICM and Client Engagement Manager, Natasha O'Leary joined High Court Writ Recovery on their away day at THE CUBE in Canary Wharf which was absolutely fantastic, needless to say, we will stick to credit recovery rather than agility games.

A couple of our account managers and collectors joined Charles Mayhew FCICM to watch Jake Hill being crowned 2024 BTCC Champion which they all agreed was a great event to be a part of.

Charles also visited the Credit Matters conference in Prague this month where he said it was "Great to not only touch base with clients, but some previous colleagues and friends." and enjoyed gaining insights to feedback to the team.

See you in November!

The fun does not stop there, as we roll towards Christmas, we look ahead to some brilliant conferences, events and team connection.

Dates for the diary in November:

13th November 2024 - The Great Big Southern Credit Day

13th - 14th November 2024 - The 50th Business Show - ExCeL London

We will be stand G3416 - Come and say Hi!