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The secret ingredient to building business confidence in New Zealand

2 Minute Read
Written by Zara Mends
26 September 2023

Many businesses are concerned about current economic conditions and the uncertainty of the future.

In a recent business confidence survey, the Auckland Chamber of Commerce released results revealing a decline in business sentiment and a somewhat negative outlook among businesses.

In fact, over 65% of respondents rated their overall business confidence as ‘somewhat low’ or ‘extremely low’.

Skill shortages, inflation, increasing costs, and rising interest rates are common themes to exacerbate concerns.

If we add to the pot the fact it is an election year in New Zealand, which can not only mean that decisions and business stagnates in the run up to an election, but can also mean that, post-election, incoming Governments can be slow to pick up the country’s economic reins.

There is one ingredient that can give businesses confidence to continue to grow and expand in uncertain times. An element that will protect cash flow and profits in the event of non-payment or indeed an insolvency.  The ingredient, Trade Credit Insurance.

Some questions a business should ask itself:

  • Do we have the confidence to expand over the next 12 months?
  • Do we have a stable client base that will continue to pay us?
  • What would happen if one of our major customers became insolvent?
  • Do we need additional security for financing purposes?
  • How do we protect our cash flow in a downturn?

NCI Trade Credit Solutions is the leading trade credit insurance broker and has been helping companies in New Zealand avoid bad debts for over 20 years. Having offices in Auckland, Wellington and Christchurch means we are in tune with the local economic conditions. We can provide solutions to local businesses who may want to build up their confidence and stabilise for future uncertainty.

As a starting point, NCI recommends you conduct a spread of risk analysis on your client list, to ensure you are confident they can continue to pay you into the future. NCI can conduct this spread of risk as well as wash against our database for secret information to ensure you are dealing with the ‘right’ customers.

To assure confidence in your future business, secure your cash flow and finances and protect your profitability now’s the time to conduct the above analysis with NCI.

Free offer

NCI will undertake a data wash of your customer base, provide a free spread of risk analysis, provide feedback on any ‘secret adverse’ information we hold on your customers which could leave you open to a bad debt.
Simply click here to get the offer started!

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