Atradius embraces SME market

Credit insurer looks to offer an extra £2bn to smaller firms as it identifies them as key to economic recovery

Atradius has urged channel firms to grab a slice of the £2bn pie

Trade credit giant Atradius is set to release £2bn in extra credit to the UK small and medium-sized enterprise (SME) market in the coming weeks as it looks to get cosier with smaller players.

Speaking to channel delegates at CRN’s recent Finance Forum in Reading, Pete Davies, UK country manager at Atradius, said: “We have gone through a very difficult period, and there has been pain for our customers and ourselves. We have seen some very exciting growth patterns, but also some horrific failings.”

Currently Atradius has about £300bn worth of exposure to UK and overseas buyers, he said, but it has been working hard to ensure the markets it operates in are manageable.

The SME market is absolutely key to success he stressed, and urged channel players to ensure they get their slice of the credit pie.

“We believe that every company has a story to tell – even the smallest players that we ask to tell us their ambitions. We have a push in the SME market and are releasing £2bn of extra capacity in the next few weeks. There is a great opportunity for growth and it is an area that we should be supporting. We believe it is an engine of growth,” he said.

“This government is going to put more energy into growth areas such as yourselves, as it cuts back significantly on the public sector.”

Davies urged channel companies to be open with their credit insurer, to ensure cover is not pulled.

“Saying nothing is not an option. Understandably businesses want to hang onto information, but this leads to assumptions being made,” he warned.