Top Service News
“Volume is down and insolvencies are up.” It’s a phrase that’s come up repeatedly, and it’s one that matters. Our CEO Emma Reilly FCICM explains further.
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We’ve already been out and about at industry events this year & and one consistent message we’re hearing on the ground is that “volume is down and insolvencies are up.” It’s a phrase that’s come up repeatedly, and it matters.
While insolvency statistics suggest a slight overall decline, construction remains the most affected sector, and from speaking with many of you, it’s clear that conditions remain challenging day to day. Numbers may be improving on paper, but the pressure on credit teams is very real.
That’s why one phrase I always come back to is “forewarned is forearmed.” My strongest advice right now is to fully utilise our Member Support Team. If you’re reviewing a credit report and don’t see recent trading experiences, please don’t stop there — call us or email us. Our team can actively investigate the company, identify which members are currently trading, and gather up-to-date — and in fact up to the minute — trading experiences on your behalf. That insight can make all the difference to your decision-making.
Early escalation is also proving critical. We’re seeing a growing number of members turn to our Debt Recovery Service, and the results speak for themselves. Recently, one customer sent us a test debt of over £50,000 plus statutory interest and compensation. The balance was collected in full, including charges, within just 8 hours, and the commercial relationship was preserved. This is exactly what our team specialises in: professional, fast, and effective collections that protect your business relationships.
Contact us today to find exactly why over 3500 other businesses in construction use Top Service to minimise debt and maximise cash.
Call 01527 503 990 or visit www.top-service.co.uk to see how we can help you stay financially resilient.