As I wrote in December, 2009 was a turbulent year for the UK credit industry but hopefully we can all look forward to 2010 with optimism. The latest forecast from the CBI, expects the recovery in the UK economy to remain sluggish throughout 2010, with a return to pre-recession levels of GDP expected at the end of 2011.

Having spoken with many of our clients over the past quarter, they have seen signs of recovery; however they continue to remain vigilant and aware of the risks in providing credit. As one client put it "we need to ensure we continue to monitor and evaluate the risks in our customer base, whilst the goalposts are continually moving".

In such difficult economic conditions, we as a service provider to the industry must keep our clients informed of any legislative changes that may impact on their strategies. Our newsletter serves as one medium in which we can inform clients, however we will continue to release news bulletins throughout the year when changes or consultations arise. There will continue to be challenging times ahead, but by keeping clients informed we can hopefully overcome those challenges.

To view our full Spring newsletter, please click here.

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