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 This temporary reinsurance scheme should mean that small businesses don’t have their trade credit insurance withdrawn and should be able to continue to access affordable insurance to support trading with other businesses.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.”