Global 3PL Shake-Up: Brexit, Pandemic, and War Reshape Logistics

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Presented by Baker Ing: Your Guide Through the Complex 3PL Industry

Venture into the intricate world of Third-Party Logistics (3PL), where global events and technological advancements continuously transform the industry. Baker Ing, renowned for our prowess in managing high-value and sensitive accounts, delivers customised solutions designed for key players in this dynamic field.

At Baker Ing, we combine the strengths of our experienced credit professionals with targeted strategies, equipping you to excel in the challenging 3PL sector.

Explore the unique advantages offered by Baker Ing and understand how our collaboration can elevate your approach to receivables management and credit control in an industry where precision and strategic foresight are paramount.


Webinar Wrap-Up: Credit Frontier 2024

What a session! A huge thank you to our speakers – Shaun ReesMarkus Kuger, and special guest Ray Massey – for a deep dive into 2024’s economic and credit landscape.


Here’s a quick recap for those who joined us and a glimpse for those who missed out:


📊 Economic Update 2024:
Markus Kuger revealed key economic indicators facing weak growth and rising credit risks. Insights into sectoral trends showed a mix of resilience and challenges, with services leading improvements but basic materials and consumer goods lagging. Consumer confidence has shown slight improvements, but inflation and global GDP growth projections indicate a cautious approach for 2024.

🌍 Insider’s Perspective from Insurance:
Ray Massey‘s keynote brought a unique underwriting perspective, discussing the all-time high in corporate insolvencies and the significance of maintaining robust relationships with credit underwriters in challenging times.

🏗️ Credit Risk and Business Impact:
Shaun Rees provided an in-depth analysis of how these economic trends translate into direct impacts on businesses. From technical recessions to inflationary pressures, the session highlighted the importance of strategic risk management and adaptive credit strategies in an uncertain market.


Key Takeaways

  • Prepare for a challenging year ahead with potential technical recessions.
  • Anticipate continued inflationary pressures but with some subsidence.
  • Adapt to rising credit risks with strategic adjustments in risk assessments and collection strategies.
  • Embrace a proactive approach in credit management, leveraging insights into sector-specific trends and economic indicators.


As promised, attendees will shortly receive an exclusive detailed report from our speakers for a deeper understanding. Keep a look out for this tomorrow.

Missed the live session? Want the report? Don’t worry, you can still register to watch the recording and access the report here: LINK

Stay tuned for more updates. In the meantime check out all the complimentary resources at Global Outlook.


Media and Advertising 2024: Inside the High-Stakes World of Global M&A

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Presented by Baker Ing: Your Navigator in the Media & Advertising Maze

Step into the fast-evolving world of Media and Advertising, where cutting-edge technology and consumer trends are constantly reshaping the landscape. Baker Ing, renowned for our expertise in high-value and sensitive accounts, offers bespoke solutions tailored for global brands in this dynamic sector.

Navigating the M&A Jungle with Precision and Insight

At Baker Ing, we bring together seasoned credit professionals and industry-specific strategies to help you stay ahead in the competitive Media & Advertising arena.

Discover the Baker Ing difference and see how our partnership can revolutionise your approach to receivables management and credit control in a sector where every move counts.


FMCG 2023: Charting a Path Through FMCG's Changing Landscape

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Presented by Baker Ing: Specialists in High-Value and Highly-Sensitive Accounts Receivable

Dive into the dynamic and ever-changing universe of Fast-Moving Consumer Goods (FMCG), a sector where quick adaptation meets strategic foresight. Baker Ing stands as a beacon of expertise, particularly skilled in managing high-value and highly-sensitive accounts. Our bespoke services are crafted for global brands that operate in the fast-paced FMCG industry, ensuring they stay ahead in a market defined by rapid consumer trends and shifting preferences.

Seeking a Strategic Partner in the FMCG Sector?

Experience the advantage of specialised expertise with Baker Ing. Our team, comprised of seasoned credit professionals, excels in crafting tailored strategies to navigate the unique challenges of the FMCG landscape. We invite you to engage with us and discover how a partnership with Baker Ing can revolutionise your collections.


Beauty & Perfumes 2023: Navigating a World of Elegance and Uncertainty

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Presented by Baker Ing: Specialists in High-Value and Highly-Sensitive Accounts Receivable

Step into the vibrant world of beauty and perfumes, where elegance meets the cutting edge of industry trends and market shifts. Baker Ing offers unparalleled expertise in navigating such high-value, sensitive accounts. Our services are tailored for global brands seeking to flourish amidst the fluid beauty landscape, providing clarity and strategic foresight in a world of ever-changing styles and preferences.

Looking for a Strategic Ally in the Beauty & Perfume Industry?

Discover the power of specialised expertise with Baker Ing. Our team, composed of adept credit professionals, is dedicated to developing custom solutions that meet the unique challenges of the beauty and perfume sector. We invite you to connect with us and explore how a partnership with Baker Ing can transform your approach and guide your journey to success in the world of beauty and perfumes.


Spain Spotlight 2023

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Presented by Baker Ing: For High-Value and Highly-Sensitive Accounts Receivable

As Spain continues its economic recovery, opportunities abound for growth-oriented companies. Baker Ing stands ready to support your success, leveraging in-depth expertise in the Spanish market to inform strategic decisions. Our services, relied upon by leading organisations, enable proactive planning and incisive action.

 

RiskPulse Dashboard: Precision at Your Fingertips

The full Spain Spotlight 2023 report is available to view online here anytime at no cost for your convenience. However, you may also download the entire report in PDF format from Global Outlook if you prefer an offline viewing experience. While the downloadable version provides portability, we recommend viewing the report online here for the best interactive experience, including dynamic updates not available in the PDF version: download

 

Recognise the value of strategic partnership

Envision the transformative impact of aligning with focused expertise. Engage with our team of credit professionals, each dedicated to creating bespoke solutions tailored to your unique needs in Spain: Contact us


Automotive 2023: Your VIP Guide to Risk & Opportunity, Now Hassle-Free and Open Access

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Presented by Baker Ing: Specialists in High-Value and Highly-Sensitive Accounts Receivable

In the ever-shifting landscape of the automotive industry, discerning and navigating risks and opportunities as they arise is critical. Baker Ing is uniquely positioned at this intersection, employing international expertise in managing high-value and sensitive accounts to facilitate insightful decision-making. Trusted by global brands, our services enable clients to strategically anticipate changes and act with foresight.

Looking for a Strategic Partner?

If you value the transformative effects of aligning with specialised expertise, we invite you to engage with our team. Our credit professionals are committed to designing solutions that are as unique as the challenges you face in the automotive sector. To explore how a partnership with Baker Ing can benefit you, please contact us.


Healthcare 2023

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Presented by Baker Ing: For High-Value and Highly-Sensitive Accounts Receivable

In today’s dynamic healthcare environment, the ability to discern emerging trends and risks is paramount. Baker Ing stands at the forefront, leveraging international expertise in high-value, sensitive accounts to empower informed decision-making. Our services, relied on by global leaders, facilitate strategic foresight and proactive action.

RiskPulse Dashboard: Precision at Your Fingertips
Understanding that time is a premium asset for professionals, we offer the RiskPulse Dashboard as a companion to this report – a distilled version to provide essential insights in a concise format. You can download the dashboard here (click here)

Recognise the value of strategic partnership? Envision the transformative impact of aligning with focused expertise. Engage with our team of credit professionals, each dedicated to creating bespoke solutions tailored to your unique needs: Contact us


The Changing Tides of France's Trade Credit

In the streets of Paris, cafes bustle with conversations about politics, art, and lately, the state of the economy. Amidst the whiff of freshly baked croissants, another aroma lingers: the subtle scent of financial anxiety. As France grapples with the aftershocks of global events, businesses find themselves in a peculiar position, especially when it comes to credit.

Once considered a routine part of doing business, extending credit to trade partners in France has evolved into a high-stakes game. Businesses are increasingly contending with longer payment terms. In fact, the average payment period has stretched to 53 days, significantly longer than the traditional 30-day norm. This extension reflects a broader shift in the French economy, characterised by the impact of global disruptions and local political decisions.

But what does this mean for businesses on the ground? The answer is clear: collections have never been more critical. Ensuring that invoices are paid on time has become both an art and a science. The challenges of the modern economic landscape require a nuanced approach to collections, one that melds digital innovation with the age-old power of relationship building.

Here’s the crux of the matter: while longer payment terms might ease immediate pressures on buyers, they can strain supplier relationships and threaten the financial health of businesses that don’t have robust collections processes in place. And, as state-guaranteed loans become a double-edged sword, the risk of default grows.

For businesses in France, navigating this terrain demands a sector-specific approach. Different industries face distinct challenges. The hospitality sector, for example, has been hit hard by the pandemic and political unrest, leading to a spike in insolvencies. On the other hand, France’s tech startups, bolstered by a supportive ecosystem, offer a brighter picture, with fewer defaults. Recognising these differences within the broader macroeconomic context is key.

It’s not just about chasing overdue payments. Collections in this new era are about understanding your customer’s position, offering flexible solutions, and leveraging digital tools to streamline processes. Businesses need to be proactive, anticipating challenges before they arise and addressing them in a manner that balances financial prudence with empathy.

Navigating the multifaceted economic landscape of France requires an in-depth understanding. From the ripples of the Russia-Ukraine conflict to the ever-present spectre of inflation and the complexities of energy prices, the challenges and opportunities are abundant. But how does one manoeuvre through these challenges and harness the opportunities?

For a comprehensive analysis, insights, and guidance tailored specifically for Credit Managers, consider the latest “France Spotlight 2023” report. This meticulously curated document delves deep into the current economic status of France, offering a thorough examination of market trends, political shifts, and their implications on trade credit decisions.

The French saying, “C’est la vie,” or “Such is life,” captures the essence of acceptance in the face of unpredictability. But when it comes to trade credit in France, acceptance isn’t enough. Businesses need strategy, foresight, and adaptability. As France’s trade credit environment continues to evolve, those who master the art of collections will not only survive but thrive, turning challenges into opportunities.

 

Chris Snelson, CFO, Baker Ing International 

 

🔗 Download “France Spotlight 2023” Here: http://www.bakering.global/product/france-spotlight-2023/


The Renaissance of Travel & Tourism

As the world rolls out the proverbial red carpet once more, the Travel & Tourism sector finds itself amidst a renaissance. The echoes of a global pandemic and economic tremors are fading away, and a fresh canvas awaits the industry. 2022 saw the sector begin to navigate the choppy waters, spurred on by an insatiable yearning of the global populace to take to the skies and seas once again​.

Yet, the tapestry of travel is not being rewoven in the same manner. The needle and thread are guided by new hands, and the patterns that emerge are as complex as they are intriguing. One cannot deny the trials faced by the sector: a staggering $4.5 trillion in GDP lost and 62 million jobs vanished. But the adage that every cloud has a silver lining rings particularly true here.

For starters, the démodé designs of yesteryears have evolved into a richer tapestry, as the new era of travel is being shaped by a myriad of factors. Travel restrictions, vaccination rates, health security, shifting market dynamics, consumer preferences and the ever-pressing need for adaptation are all working in concert. The Travel & Tourism Development Index (TTDI) by the World Economic Forum casts a spotlight on the importance of sustainability, resilience, and inclusion in the sector’s rejuvenation.

One particular strain of thread stands out: the advent of "bleisure" travel. A portmanteau of business and leisure, bleisure has seen a surge as flexible working conditions afford the modern knowledge worker the liberty to merge work and wanderlust. There's a symphony in the making, where the traditional Monday to Friday constraints bow out to a more harmonious blend of work and exploration​.

On the other side of the spectrum, we must also turn our gaze to the virtual horizon. "Virtual travel" is a burgeoning market, propelled by the leaps in digital technology and, ironically, the pandemic. While initially perceived as a mere simulacrum of the real experience, it is fast becoming an essential thread in the tapestry. The confluence of the virtual and the tangible is poised to bring a certain synergy to the industry.

Of course, no modern tapestry is complete without the green thread of sustainability. The conscientious traveller of today is acutely aware of the footprints left behind. The industry must now grapple with integrating decarbonisation into its value proposition. This necessitates collaboration across the industry, for it is not just a challenge but also an opportunity to redefine what travel should embody for generations to come​.

As an international B2B receivables management company specialising in high-value and highly-sensitive accounts, it is crucial we appreciate the multifaceted nature of this evolving tapestry. The Travel & Tourism sector's financial ebbs and flows, intricately woven with global economic, social, and political threads, demands dexterity in risk management.

It is imperative to remember that in this renaissance, as colours bleed into each other and patterns emerge, the tapestry is yet on the loom. There will be knots and frays, but there will also be moments of clarity where every thread is in its place.

P.S. Unravel the Threads with Our Latest Report

It is said that knowledge is the thread that binds the tapestry of understanding. Our latest report, on this sector, is an invaluable guide through the labyrinthine world of Travel & Tourism. It takes an incisive look at the emerging trends, challenges, and opportunities in the sector.

What sets this report apart is its meticulous attention to detail. It not only delves into the global macro trends but also casts a discerning eye on the economic undercurrents that are shaping the industry.

In this sea of change, our report is a compass that can help you navigate with confidence and foresight. It is an indispensable resource for industry professionals, policymakers, and stakeholders who are looking to weave their threads into the new tapestry of the Travel & Tourism sector.

Don’t let this opportunity pass you by. The report is available now for download. Equip yourself with the knowledge that empowers.

Download the Report

 


Unmasking the New Luxe: A Tale of Resilience, Adaptability and Evolution

In the expansive world of luxury goods, an exhilarating narrative is unfolding. It's not just about diamond-encrusted watches or haute couture anymore – it's about the new definition of luxury, the shifts and turns it’s taking, and how these changes are shaking up the sector.

Our latest "RiskPulse: Luxury Goods Sector 2023" report unravels the intricacies of this ever-changing landscape. 

Despite an economic roller coaster and a moderate Worldwide Risk Score (WRS) of 4.6 out of 10, the sector remains resilient. Luxury, it seems, has a tenacity that cannot be easily undermined.

Fueling this resilience is the sector’s growing appeal in emerging markets. Asia is blooming as a luxury hotspot, with its affluent middle class showing an insatiable appetite for the finer things in life. Yet, it's not just Asia that’s transforming the luxury map; the Middle East too is stepping up, staking its claim in the luxury narrative.

But as we navigate this brave new world of luxury, it’s not just about who’s buying, but also what they're buying into. Consumers are demanding more than just exquisitely crafted products; they want their purchases to embody sustainability and ethical sourcing. These values are no longer a choice but a necessity for brands that wish to thrive in the contemporary luxury ecosystem.

And let’s not forget the digital frontier. As e-commerce platforms bring luxury to doorsteps, brands are faced with the challenge of replicating the exclusive in-store experience in the virtual space. It’s a thrilling era of innovation as luxury explores new ways of enchanting its customers.

The Luxury Goods 2023 report is an invitation to dive deep into this fascinating world. It’s a must-read for those wishing to stay ahead of the curve, understand the sector’s shifts and turns, and glean insights into the future of luxury. Your journey into the heart of luxury starts here.

 


Fashion & Apparel 2023

In today's rapidly changing world, understanding the risks and opportunities in the Fashion and Apparel (F&A) sector is crucial for businesses to stay ahead. At Baker Ing, we are committed to providing in-depth analysis and insights to help your business thrive. We're excited to announce the release of our comprehensive 38-page report, which offers a detailed overview of the F&A industry and its challenges.

The report, available for download at https://bakering.global/product/report-fashion-apparel-2023/, reveals a moderate Worldwide Risk Score (WRS) of 4.5 out of 10 for the F&A sector. Supply chain complexity emerges as the primary risk factor, as global value chains are increasingly vulnerable due to logistical challenges and political tensions.

However, there is a silver lining. The F&A sector is poised for post-COVID expansion, driven by the burgeoning Asia Pacific market. As businesses adapt to the evolving landscape, they must address several critical areas:

  • Invest in supply chain management and AI technologies: A robust supply chain strategy and cutting-edge technologies will enable businesses to overcome challenges and capitalize on opportunities.
  • Respond to environmental and ethical demands: Consumers are more aware than ever of the environmental and ethical implications of their purchasing decisions. Companies must adapt to meet these expectations by incorporating sustainable practices and transparent policies.
  • Embrace e-commerce and digitalization: The pandemic has accelerated the shift towards e-commerce and digital solutions. Businesses must embrace these trends to remain competitive in the rapidly evolving F&A industry.

This comprehensive report provides valuable insights and guidance for businesses navigating the complex landscape of the Fashion and Apparel sector. Download the full 38-page report today at https://bakering.global/product/report-fashion-apparel-2023/ and equip your business with the knowledge and insights needed to succeed.

Don't miss out on this essential resource for understanding the F&A industry. Download your copy now and stay informed about the risks and opportunities that lie ahead.

#FashionIndustry #ApparelIndustry #RiskReport #SupplyChain #Digitalization #ECommerce #AI #Sustainability #BakerIngReports


Spring Budget 2023 and its impact on credit management

in this blog, Baker Ing's Chief Economic Advisor, Markus Kuger, gives his analysis of the recent Uk budget announcements and what its means for credit management.

Summary

  • The Spring Budget contains limited handouts for consumers (more free childcare and longer energy bill support) and companies (100% expensing for capital expenditure, creation of investment zones).
  • Corporation tax will go up for companies with annual profits higher than GBP50,000 and business rates still remain under review.
  • Macroeconomic forecasts have improved in this Budget with growth revised upwards and inflation changed downwards.
  • Despite this, living standards will still drop quickly this year with negative repercussions on the business and consumer sentiment.
  • Despite the support measures announced in the Spring Budget, 2023 will remain challenging as the risk of late or non-payment is likely to rise, on top of the deterioration seen in 2022.

Policy measures aimed at supporting growth

While Kwasi Kwarteng’s Mini-Budget in September 2022 shocked markets and ultimately led to his and Prime Minister Liz Truss’ departure, the Spring Budget presented by Chancellor Jeremy Hunt on 15 March produced more positive news as it contained handouts for households and businesses in order to stimulate the ailing UK economy. While consumers will benefit from a continuation of the energy support package for an additional three months, more free childcare, higher pension allowances for well-earners and frozen alcohol and fuel duties, the support for the corporate sector was smaller.

The most noteworthy handout to businesses was the introduction of full 100% expensing for capital expenditure on qualifying plant and machinery for the next three years. This policy, aimed at increasing investment will mainly help businesses with large qualifying capital expenditure in excess of the annual investment allowance. Companies operating in sectors involving less plant and machinery spend (often found in the service sector which accounts for more than 70% of UK GDP), or businesses that are loss-making, will not benefit from the new policy though.

The second policy measures aimed at increasing gross fixed capital formation was the creation of 12 so called investment zones, a plan already included in Kwarteng’s Autumn Statement. In order to “drive business investment and level up”, the zones will be created in the West Midlands, Greater Manchester, the North-East, South Yorkshire, West Yorkshire, East Midlands, Teesside, and Liverpool. Scotland, Wales and Northern Ireland will also be home to a zone each and the ultimate location will be decided in consultation with the devolved governments. Each of the investment zones in England will have access to GBP80m (including tax reliefs and grants) over the next five years and local authorities will be able to tailor their plans around local circumstances. The proposals must credibly explain how partners in the local area will use the levers available to increase growth in priority sectors, identify private-sector match funding and use the local planning system to support growth. The zones will likely be linked to universities and leading research institutions and will enhance growth in five key sectors: life sciences, creative industries, digital technology, advanced manufacturing and green industries.

Reform to research and development tax relief, creative industry relief and extension of cultural reliefs as well as reduced paperwork for international traders also feature in the Budget but the effects will be limited.

However, the Budget also contained unwelcome news for companies. Most notably, the chancellor confirmed the rise in corporation tax, a measure that was flagged up long in advance. For companies with a taxable profit exceeding GBP250,000 per year, the rate will increase from currently 19% to then 25%. The rate will remain at 19% for companies with a profit of below GBP50,000 and businesses with profits between GBP50,000 and GBP250,000 will pay between 19% and 25%. No decisions have yet been made regarding business rates. Two consultations were recently closed and the government has promised to release the findings shortly. In addition, the Budget foresees the launch of two new consultations: one on providing ratepayers with more information on their business rates valuations, and the second on measures to combat avoidance and evasion. While business rates remain unchanged for the time being, it is clear that reform still ranks highly on the government agenda and changes can be expected in one of the next Budgets.

Revised set of macroeconomic forecasts show improvements

For credit risk professionals the policy changes announced by the chancellor are probably of limited importance. However, the Budget also contained a set of new macroeconomic forecasts which are interesting from a credit risk perspective. Positively, the macroeconomic outlook has improved over the past months. The Office for Budget Responsibility (OBR, a non-departmental public body established in 2010 to provide independent economic forecasts) now predicts the UK economy to avoid a recession and to shrink by 0.2% only this year, compared with the previous forecast of -1.4%. Main driver behind this improvement is the moderation of energy prices which will also have a positive effect on government finances. Instead of borrowing GBP170bn in 2022-23 (as previously forecasted), the government deficit will come in at a lower GBP152bn while for the next financial year, borrowing will be GBP8.5bn smaller than initially anticipated. Over the medium term, the chancellor also expects slightly improved government finances: in 2027-28, government borrowing will stand at GBP50bn, down from a previously forecasted GBP70bn. Despite the lower borrowing, government debt will remain at a high level of around 95% of GDP, making the government vulnerable to higher debt refinancing costs (which have already risen over the past year).

Chart: Real GDP Growth Forecasts OBR

Problematically, even with the revised set of GDP forecasts, the UK will be the slowest growing G7 economy this year and the average annual growth rate for the UK economy for 2020-28 will come in at just 1%, compared with the 2.8% recorded before the global financial crisis in 2008-09. While pre-Covid real GDP levels in the UK will finally be reached again in mid-2024, six months earlier than expected in the last Budget, this is later than in any other G7 economy (which are already exceeding Q4 2019 outputs). For consumers, the normalisation in energy prices and the extended government support is welcome news but nonetheless, real disposable income per capita (which measures living standards) is projected to drop by a cumulative 5.7% over 2022-23 and 2023-24. This is 1.4 percentage points lower than previously feared but it is still the largest two-year fall since the start of this data series in 1956-57. As a consequence, households will continue to reduce non-discretionary spending this year with negative repercussions on domestic demand.

Positively for the interest rate outlook, the OBR’s inflation forecast was also updated: after having peaked at above 11% in Q4 2022, consumer price inflation will slow down to 2.9% in Q4 2023, according to the latest set of projections. While still slightly above the Bank of England’s (BoE) 2.0% inflation target, it would be the lowest rate since Q3 2021. Easing energy price inflation, a slowing economy and the response to the sharp monetary tightening cycle the BoE had embarked on over the past quarters all play a part in this drop inflationary pressures. While the BoE will likely rise interest rates a few more times this year, the speed and the magnitude of the tightening cycle will certainly drop. The key policy rate stood at 0.1% until December 2021 and has since been hiked ten times to currently 4%. Markets are pricing in a terminal rate of 4.5%, reached by mid-2023.

Chart: Inflation Forecasts OBR

From a credit risk perspective, 2023 will be a challenging year, despite the drop in inflation and the better than expected real GDP growth. Consumer price increases will outperform nominal wage growth for the next quarters, thereby leading to a drop in disposable income. Consumer confidence has improved in late 2022 before dropping again in early 2023 and the levels recorded are still low, indicating widespread pessimism amongst households which will impact adversely on their willingness to spend. UK business confidence indicators (such as the Purchasing Managers’ Index) have improved in February but still indicate challenges ahead (such as a drop in new order inflow in the manufacturing sector).

The challenging operating conditions in 2023 will adversely impact on the number of business failures. Worryingly, 2022 already saw a stark increase in liquidations in England and Wales, according to the government’s Insolvency Service. One in 202 active companies (equivalent to 49.5 per 10,000 active companies) entered insolvency proceedings last year, up from 32.9 per 10,000 active companies in 2021 and the highest ratio since Q3 2015. Overall, 22,109 company insolvencies were registered in England and Wales last year (Scotland and Northern Ireland also recorded increases), up by 57% and the highest reading since 2009.

Chart: Registered Company Insolvencies in England and Wales

Source: Insolvency Service

For 2023, another increase in the number of business failures is likely as low growth, reduced government support on the energy cost front for companies and comparatively high interest rates will all create headwinds for companies’ cash flow and profitability. Carrying out frequent counterparty risk assessments and teaming up with trusted advisors is recommended against this backdrop.


Germany Credit Factsheet

We're keen to share our updated Germany Credit Factsheet with you all: https://bakering.global/product/factsheet-germany-2023/

The German industrial sector has been of much interest of late, as December's statistics revealed a 3.1% decrease in production, largely due to a decline in energy-intensive industries. This serves as a reminder of the ongoing impact of the energy crisis on the German economy.

Despite these challenges, the outlook for Germany's business remains positive, with easing material bottlenecks and well-filled order books suggesting a less severe winter economic slowdown. However, these developments nonetheless bring significant risks for companies and their ability to make timely payments.

Given the importance of being proactive and vigilant in navigating these challenges, we're proud to have serviced a 17% increase in debt placement for Germany in Q4 of 2022, which deviates from the country's typical prompt payment history

We have responded to the rise in demand for credit control support also, with our team providing extra attention to accounts with poor payment behaviour, allowing our clients to focus on their key clients and effectively manage risk.

We hope you find this update to our Germany Credit Factsheet of use. Stay informed and ahead of the curve by visiting Global Outlook, our hub for insights and analysis for credit professionals: https://bakering.global/product/factsheet-germany-2023/


Baker Ing Credit News: Medical Devices Feb 2023

Stay up-to-date with the latest medical devices news by watching the Baker Ing News for Credit Professionals: Your rundown of January's most important developments in just over 2 minutes.

For more in-depth insights, download the complimentary report on "Medical Devices Europe 2022" here: https://bakering.global/product/repor...

 


Baker Ing Credit News: Construction Feb 2023

Stay up-to-date with the latest fashion news by watching the Baker Ing News for Credit Professionals: Your rundown of January's most important developments in just 2 minutes.

For more in-depth insights, download the complimentary report on "Fashion in the USA 2022" here: https://bakering.global/product/repor...

If you found this useful, why not join us at the next Let's Talk Credit Ltd fashion forum in London on February 8th? Connect with industry leaders and hear from top experts in the field. If you're interested in attending, please contact us for an invitation.


Baker Ing Credit News: Construction Feb 2023

Stay up-to-date with the latest construction news by watching the Baker Ing News for Credit Professionals: Your rundown of January's most important developments in just 2 minutes.

For more in-depth insights, download the complimentary report on "Construction in Europe 2022" here: Construction in Europe 2022

If you found this useful, why not join us at the next Let's Talk Credit Ltd Construction forum in London on February 7th? Connect with industry leaders and hear from top experts in the field. If you're interested in attending, please contact Christina Onofrei for an invitation.


Economic Bulletin Oct 2022

EXECUTIVE SUMMARY

Download this full report from the Global Outlook store:  https://bakering.global/product/bulletin-economic-outlook-oct-2022/ 

  • The final quarter of 2022 and 2023 will be challenging as economic and political headwinds are increasing.
  • Recession risks are rising as consumer and industrial confidence indicators are plummeting.
  • Inflation is currently on a 40-year high but will moderate in 2023 because of base effects and tighter monetary policy.
  • Supply chain risk is still above pre-pandemic levels but has fallen in recent months with maritime shipping costs dropping (also linked to the weaker economic outlook).
  • Payments performance in Europe improved in mid-2022 but Ireland and the UK performed against the trend and saw longer delays in B2B payments. • The number of business failures in the EU rose in April-June 2022, a fifth consecutive quarter of increase.
  • That said, the number of business failures still stands below pre-pandemic readings and some countries (such as Germany and Italy) still continue to report improvements.
  • Looking ahead, credit risk in Europe will rise as the economy is slowing, interest rates are rising quickly and banks are likely to tighten lending. • Elections in France, Sweden and Italy in Q2 and Q3 2022 ended with at least partial victories of antiestablishment far-left and far-right parties
  • Policy making will become more complicated as approval ratings for incumbent governments will fall amidst a cost of living crisis and the looming recession.
  • Companies should assess counter-party risks closely and team up with trusted advisors to minimise the adverse impact of the deteriorating political and economic environment.

Download this full report from the Global Outlook store: https://bakering.global/product/bulletin-economic-outlook-oct-2022/