There is a resilience gap that is widening for UK SME businesses as they manage through multiple challenges. According to new data risks such as supply chain disruption, customer insolvencies, cybersecurity and late payments have cost businesses the equivalent of 76% of accessible emergency funds. Here’s how they rate these challenges.
- 51% – Rising goods prices
- 42% – cybersecurity incidents
- 37% – supply chain disruptions
- 33% – Political and policy changes
- 32% – AI related risks
The report also shows that 21% of businesses see customer late payments as a big concern while 17% are on the lookout for customer insolvencies. Interestingly, almost of third the businesses surveyed are not fully covered from these two risks by trade credit insurance.
Insurance Edge magazine has the full story here.
