Here at Nimbla our goal is to make business safer for SMEs. Be that by having better information, better tools or protection from bad debts. We believe that small is good. Having the agility to change your product to better suit your customers and be more flexible is what makes smaller businesses great, keeps them innovative and gives them an edge over their larger competitors. But being small shouldn’t mean you can’t have access to the same tools or information as larger companies. As is often the case the smaller you are the more you are at risk by virtue of the concentration of your risks and where you are in the queue. It needn’t be that way.
You can outsource a great deal but knowing your customers is vital in any business. Extending credit is an essential part of the B2B world especially after the financial crisis it hard to compete without offering it, that brings risk.
When we started doing market research last year many of the responses were defensive, “I don’t give credit anymore even if it means I lose business”, this was often the reply from long-established businesses whose owners were so badly burnt they have given up growing. Others were disillusioned with the insurance that they had purchased having paid upfront for protection only for it to be gone just when they needed it. Bad debt continues to be a major problem and it looks to be getting worse especially for SMEs. We can’t guarantee we can cover all risks but we will be transparent we charge you for what your risk is now and inform you should the risk be too great.
Most importantly we measure risk on your terms, not the average. The risk to you as an SME is different than it is for a large corporate. We recognise it, we measure it and we help you mitigate it.
Flemming Bengsten, CEO