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As 2024 comes to a close, the Australian and New Zealand economies are navigating a complex landscape. Businesses are experiencing an increase in overdue payments, collections and this will ultimately lead to further insolvencies.

The demand for trade credit insurance has increased as companies seek to protect their receivables from potential non-payment risks, both for domestic and export trade.

We recently wrapped up our NCI CreditWise Academy series, which saw outstanding engagement from our audience. Participants found the short educational sessions extremely valuable in enhancing their understanding of credit risk management. The overwhelmingly positive feedback has inspired us to expand on the series. In 2025, we’ll be focusing on new topics, so stay tuned for more ways to strengthen your credit risk strategy!

As we near year-end, we encourage our clients to submit outstanding debts prior to the holiday period. History shows overdue debts unpaid prior to Christmas, remain unpaid until February, and repayment plans are then requested.

At NCI, we’re committed to supporting clients to make informed financial decisions and thrive amid economic challenges. Thank you for business during 2024, it is very much appreciated.

Here’s to wishing you a successful close to 2024 and a prosperous “claim free” 2025.

Kind regards,

Kirk