News

25 May 2021

We want your views on the end of the Trade Credit Reinsurance Scheme

The forthcoming removal of the Government’s Trade Credit Reinsurance scheme at the end of June 2021 was one of the matters on the agenda of a meeting with Small Business Minister Paul Scully.

Now we are asking you what the end of this scheme could mean or you through a short survey.

Bira has already seen businesses suffer with withdrawal of credit terms from some suppliers and, from June, we expect that to get considerably worse for many more.

We want to continue with the pressure to have the removal of the scheme delayed, to give our sector more time to recover from the past year’s disruption.

For this to happen, we need to know your feelings on the issue, as the impact will vary amongst various retail verticals; for example fashion retailers who haven’t been able to sell spring/summer ranges, but still need to buy in winter stock.
Jeff Moody, Bira's Commercial Director and head of Bira Direct, said: "The removal of the trade credit reinsurance scheme couldn't come at a worse time for retailers, all of whom need credit to acquire the new stock throughout the year. Lack of credit adds unmanageable pressure on cash flow and could be the final straw for many. We are asking the Government act now and help avoid further retraction of the sector."
Please help us to help you by completing this very short survey, no matter if you feel you are affected, and no matter which retail vertical you operate in.

The survey is anonymous, but we do ask for contact details at the end of the survey for anyone willing to speak to Bira or the press on the matter.

Start the survey now