Companies news
Why Trade Credit Insurance is a Necessity for SMEs Nowadays
Small and medium-sized enterprises (SMEs) are the backbone of many economies, but they also face unique challenges.
One critical concern is the risk of non-payment and customer insolvency. As SMEs often lack extensive credit risk management resources, late payments and bad debts can significantly impact their cash flow and even threaten their survival.
Coface, a platinum member of the French South African Chamber of Commerce and Industry (FSACCI), is a leading provider of trade credit insurance solutions.
Coface understands the specific needs of SMEs and offers tailored products like EasyLiner, a user-friendly online platform for trade credit insurance.
Why Trade Credit Insurance is a Must-Have for SMEs:
- Financial Vulnerability: SMEs are often less financially equipped to handle unpaid invoices compared to larger corporations. A single instance of non-payment can disrupt operations and growth plans.
- Limited Resources: SMEs often lack dedicated credit risk management departments. Trade credit insurance provides expert analysis and risk mitigation strategies.
- Peace of Mind: Knowing you are protected against bad debts allows you to focus on core business activities and expand your customer base with greater confidence.
