Archive for July, 2012

The Olympics are here

In Twickenham. At the end of my road too. Ok the road race is simply a quick sight of cyclists flashing past, but its does have the magic of being a true olympic event.

And yesterday in Richmond Park, I was staggered by how many turned up to watch. Many thousands I am sure. They are saying that with perhaps over 1m lining the streets, it was the most watched olympic event in history

Today i watched the women’s race largely on TV and found myself travelling right through every road, virtually all of which i have cycled recently

And what a race it was. Gripping and fascinating and surely one of the highlights of this wonderful tournament

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Empty shops

The lowest occupancy of retail sites since “records began”

Predictable maybe but does emphasise the move away from the high street and now even retail centres


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Olympics and London

I think everyone is well aware that the Olympics are about to start in London and there is little more to add about the actual sport other than it is surely going to be a great success in what is the most diverse and fascinating city in the world. The one truly international city many would say

But what is the effect on business?

A feel good factor is never ti be underestimated but on a more practical and downbeat level, the whole event seems to have become a byword for inaction. The Olympic factor is “wait until after the olympics”

This is fine and in many ways August is a bit like that anyway, but a lot of this is driven by rather hysterical travel concerns

There will of course be a large number of people at the event. Over the course of a day 300,000 will be attending and of course that will impact

But how much? A football match at Wembley and a rugby match at Twickenham have often been played on the same day with a combined 200,000 attending

Does London grind to a halt then? Not at all

The Olympics will be fantastic i’m sure, but its no reason why its shouldnt be business as usual


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County Court judgements. An overreaction

Many businesses will incur county court judgements Many of these businesses will be perfectly solvent and will be well run and efficient. It can merely be a case of an oversight or a simple blunder.

Then again, many businesses will clearly be struggling. It is probably more likely that this will be the scenario but how do you ascertain which scenario is which?

Well one credit insurer doesn’t even bother. A client of mine found that cover was withdrawn on these two clients

1. Construction company. 50 years trading, £130m turnover and a working capital of £31m. Judgement was for £12k

2. £7m turnover demolition company. 30 years trading. Positive balance sheet. Judgement was for £200

This is crazy. Dumping cover has real consequences for both the supplier and purchaser and as we have seen in some cases, this can be serious.

A clear rule of credit assessment is that adverse information cannot be taken in isolation. The whole picture has to be viewed and any other approach is simply lazy or cavalier

I wont name the insurers but if this concerns you (as it should) do drop me a line….

To judge which a

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The wettest summer

What an awful summer it has been. The wettest on record and theres as soon as the sun breaks through, it appears that yet another band of rain sweeps in.

And the effect on business? See here for one summary. Some businesses will thrive but others will be hit hard

Something to keep in mind when credit is being assessed

Keep in mind which businesses are adversely affected by the dampened spirits. Hospitality perhaps? Gardening? Even construction to some extent

Umbrella manufacturers are clearly a good bet though

nb… Some nice pics of London in the rain on this excellent blog

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The liquidation of Rangers

The future of Rangers is very interesting, even to none football followers.

To recap, Glasgow Rangers went into liquidation following failed attempts to find a purchaser following administration. Why such a large and grand club ended up in this mess is possibly best summed up here

But skipping forward to the present situation, Rangers are clearly attempting to start again as a “newco” and give their huge support, this will be entirely viable. Along with Celtic, they are so dominant in Scottish football that their support and attraction to TV companies has the knock on effect of bringing considerable additional revenue to the other clubs, not least Celtic with whom they have a long and bitter rivalry

So you would expect that the top division clubs would simply look at the bottom line and welcome Rangers back in (perhaps through gritted teeth) back into the fold

Not a chance.

And now Rangers are having to wait to see if a lower division will accept them. Might be the next division down or might be the very lowest division or maybe, unthinkable to many as it is, no entry at all

The idea of a club which attracts crowds of 50000 playing at grounds such as East Stirling and Forfar, where crowds are often less than 500 is mind boggling

But it would appear that having seen Rangers effectively cheat the HMRC out of millions and in effect, seize a further financial advantage over other clubs, such is their anger that future loss of revenue is a worthwhile price to pay

You could argue that they are acting like angry creditors determined that justice is done and it is a reasonable point that punishment by football authorities for administration has not been strict enough

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Why me?

Its time for me to remind you of part of my offering and why you should use me of course…

The difference….

A broker should always look for the best deal for the client and that is a not simply a matter of pricing.

Secondly a broker must be able to communicate with you and your client in a free and a relaxed manner.

What do I offer that makes that difference?

1. I will meet your client. Establish a relationship and really get to understand the business. This is vital.
2. Understanding debtors. Debtors are the basis of every facility. I have 25 years experience in a wide variety of sectors
3. Knowing the providers. No favours and no favourites. The client comes first
4. The small print. Hidden costs are exposed. The aim is simplicity
5. The small print again. Those dreaded lending restrictions will be anticipated and tackled
6. There is no cost to your client
7. After sales service. Your client may well require credit management assistance and advice.

The difference is the key to your clients success. Whether in an existing deal or requiring finance, give me a call

Tel 07956 138895


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