Coronavirus: Guaranteeing trade credit insurance another lifeline for small businesses

Press Releases 13 May 2020

Responding to the launch of the government’s guarantee to support provision of trade credit insurance, Mike Cherry, FSB National Chairman, said: “As the pandemic continues to bite, small firms need all the help they can get to continue to trade domestically and internationally. This temporary reinsurance scheme should mean that small businesses don’t have their trade credit insurance withdrawn and should be able to continue to access affordable insurance to support trading with other businesses.

“The intervention provides much needed confidence for small businesses to get back on their feet and start trading again as we enter recovery. This protection will be particularly helpful for small businesses operating in the supply chains of sectors like construction and manufacturing.

“We look forward to working with the Government and insurance industry to get this scheme live as quickly as possible and to ensure that it helps small businesses to trade with confidence.” 

About FSB

As the UK’s largest business support group, FSB is the voice of the UK’s small businesses and the self-employed. Established over 40 years ago to help its members succeed in business, FSB is a non-profit making and non-party political organisation that’s led by its members, for its members. As the UK’s leading business campaigner, FSB is focused on delivering change which supports smaller businesses to grow and succeed.

FSB offers members a wide range of vital business services, including access to finance, business banking, legal advice and support along with a powerful voice in Government. Each year FSB also runs the UK’s Celebrating Small Business Awards. More information is available at www.fsb.org.uk. You can follow us on twitter @fsb_policy and on Instagram @fsb_uk.

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