A local business group has played a major role in influencing government coronavirus pandemic business policy.
Board members of the Staffordshire Moorlands Chamber of Commerce discussed trade credit insurance (TCI) at their meeting in April.
Chamber chief executive, Sara Williams (pictured) then raised the issue with the British Chambers of Commerce, using words from the meeting to give evidence on this issue, and drafting letter for them to use.
Now the government has given a guarantee to support provision of Trade Credit Insurance (TCI).
The guarantee will be delivered through a temporary reinsurance agreement with insurers currently operating in the market and will cover trading by domestic and exporting firms and the intent is for the agreement are to be in place with insurers by the end of the month.
It will ensure a vital lifeline remains available during and after the crisis, helping to maintain supply chains and trade. Lasting provisionally until the end of the year, it will be followed by a review of the TCI market to ensure it can continue to support businesses in future.
Jed Eatough, director of Leek based LSGK Accountants and Moorlands Chamber Board member said: “This is a great example of what a powerful voice the Chamber is and how a discussion between a handful of business people in a little known area like the Staffordshire Moorlands can go on to influence government policy.”