NEWS
MARK MCALLISTER, HEAD OF TRADE CREDIT FOR ABL GROUP EXPLAINS HOW TO PROTECT YOUR BUSINESS FROM BAD DEBTS DURING THE CURRENT VOLATILE ECONOMIC CONDITIONS… Protect your business with trade credit insurance
T he ongoing impact of the current global climate and rising energy costs continues to cause numerous challenges for the Northern Ireland economy and our construction industry. The construction sector remains the most significant contributor to insolvency numbers in the UK and Northern Ireland, with February 2022, seeing 307 construction insolvencies – an increase of 142% on the same period last year. This trend has continued into QTR 2 and will continue into 2023. Given the challenging environment within the construction sector, trade credit insurance can help provide confidence, knowing your business has the correct protection in place in the event of payment default by a customer. Benefits include enhancement of credit
management procedures for your business and greatly improves access to finance facilities from banks and funders etc. It also provides increased market intelligence on your customers / prospective customers and supports positive business growth. Claims are paid out within a short period of time, which helps the working capital replacement aspect. And, ultimately, trade credit insurance greatly reduces the use for bad debt reserve. Trade Credit Insurance will add extra security in a very volatile world. Trade receivables is one of the biggest assets for a business, but this can turn into a liability very quickly if not looked after appropriately. That’s exactly what trade credit insurance does – it protects your business’s trade receivables.
Having Trade Credit Insurance in place gives much needed peace of mind and protects your business’ future, while allowing your business to grow safely during these volatile times.
To discover how a trade credit insurance policy could benefit your business call Mark McAllister for a brief chat on: +44 (0)7467441974 or email him at: mark. mcallister@ablinsurance.co.uk.
SUSTAINABILITY STRATEGY HIGHLIGHTS INCLUDE DECARBONISATION FOCUS, ZERO WASTE AND ELIMINATING LOST TIME ACCIDENTS… Mannok launches sustainability roadmap
M annok has published its
its ambitious targets of 33% emissions reduction by 2030 and net zero by 2050. Alongside the decarbonisation efforts, biodiversity and resource efficiency are identified as priorities for the company, with 15 planet-centric targets set out in its strategy. Priorities under the Partners pillar of the Vision centre around community, customers and suppliers. Mannok commits to establishing more schools’ partnerships in its award- winning programme and
sustainability strategy, the Mannok 2030 Vision, a roadmap for the
company to escalate its sustainability drive for the rest of the decade and position itself to achieve net zero carbon by 2050. The strategy outlines a series of ambitious targets for the company, centered around three key pillars of People, Planet and Partners, which will see significant investment and innovation in each of these core elements in the coming years. Protecting and investing in its people are significant themes, with commitments to eliminate lost time accidents whilst creating a diverse and inclusive workplace with professional development opportunities for every employee. With decarbonisation at the heart of the Mannok strategy, the company has outlined the scale of this particular challenge and its roadmap to achieving
Taking the long view - Mannok’s 2030 Vision aims to achieve net zero carbon by 2050.
developing a protected local historical site located on Mannok land to create a heritage and biodiversity centre for the wider community amongst its 11 Partners centric targets.
For full details or to view the Mannok 2030 Vision, visit MannokBuild.com/2030Vision.
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