In Reference Appointments & Updates
Cedar Rose has been named ‘National Winner’ for Digital Technology for the second year in a row, in the 2019 European Business Awards. Cedar Rose was chosen from 2,753
businesses named as ‘Ones to Watch’ in a list of business excellence published in July, and selected as a National Winner by a panel of 50 independent judges including business leaders, politicians, and academics. Christina Massaad, managing director of Cedar Rose, said: “We are
absolutely delighted and honoured to achieve the National Winner award for Digital Technology for the second year in a row. All of our employees, whether they are in Cyprus, Lebanon, or other countries around the world, work so hard and really aim to be the best at what they do. It is great to have the judges of the European Business Awards recognise and reward those efforts. We are very excited and honoured to represent Cyprus at the European finals in December.”
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this exciting time. As we see the financial-services market shifting to
embrace new technology and data, Credit Kudos is uniquely positioned to help organisations with their compliance requirements and also significantly improve the effectiveness of their credit decisioning. “With a solid foundation of clients
across motor, mortgage, and lending sectors, Credit Kudos have proven themselves as the thought leader in open banking technology.”
Nucleus Commercial Finance has agreed to provide a £414,000 finance facility to On Power Electrical & Mechanical, supporting the company’s business-expansion plans across the Midlands. Based in Wolverhampton, On Power is a
sub-contractor to the construction industry, working within the domestic, commercial, retail, leisure, and also industrial sectors nationwide. The firm offers services across a wide range of electrical installations from the initial concept and design stage, through installation to commissioning and handover to the client. Eric DeArmitt, sales director, Nucleus
Commercial Finance, said: “Although asset- based lending is becoming increasingly popular, business owners are still largely unaware that they can secure a property- backed loan – whether that be residential or commercial. We are extremely pleased to
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have agreed this facility, demonstrating our team’s capability to develop innovative finance solutions to support a business in delivering on its long-term vision. We look forward to working closely with On Power and to continue supporting its growth ambitions in the future.”
Businesses in Eastern Europe are conducting significantly more sales on credit to boost their competitiveness in overseas markets, according to Atradius. The Atradius Payment Practices Barometer
revealed that Eastern European businesses transacted an average of 67% of the total value of their sales to domestic and overseas
B2B customers on credit; up from just 39% last year. Atradius reported the sharp increase is an indication of the efforts by businesses to sustain demand and improve competitiveness in foreign markets. Across the Eastern European region,
Slovakian businesses are the most inclined to offer credit, with 92% of sales by value conducted on credit, followed by businesses in the Czech Republic at 88%. At the other end of the scale, Bulgaria
seems to have the least trade-credit friendly approach, with only 34% of the value of B2B sales made on credit. Tanya Giles, regional manager for Wales
and South West at Atradius, said: “The global economy continues to reveal its frailties and is now on a notably slower growth path. Amid rising geopolitical tensions and ongoing uncertainties, the risk that global trade will remain sluggish is growing. This is likely to weaken economic growth in many Eastern European countries, raising the insolvency outlook over the coming months. Against this backdrop, strategically managing the risk of payment defaults by customers is essential to avoid severe cashflow problems and to pave the way for safe, sustainable business growth.”
Firgrove Holdings, which operates a range of companies within the land, property, funding, and development sectors, is preparing to complete its latest scheme, following a funding deal from Reward Finance Group.
Bristow & Sutor has expanded its range of management and support services with the acquisition of Credit Style, which was confirmed following regulatory approval from the FCA and SRA. The acquisition of the Sheffield-based company sees
Bristow & Sutor group grow to more than 450 employees working across the UK, providing end-to-end debt collection and credit-management support for clients. Bristow & Sutor chief executive, Andy Rose, said: “Our
Andy Rose
growth plans are strongly focused on transforming debt collection through technology, new ways of working, and a relentless focus on positive outcomes – for clients and service users. “In Credit Style, we have found the perfect partner to support our ambitions.
We have been extremely impressed with their pride, energy, and vision for the business, and look forward to working with the team on the next phase of our growth plans.”
www.CCRMagazine.com October 2019
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