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ICM expertise in cashflow management recognised in new Government appointment

28 May 2012

Philip King, Chief Executive of the Institute of Credit Management, has been appointed to the board of Start Up Loans – a new Government vision to provide young and emerging talent with access to start-up capital and the expertise of an experienced mentor.

Under the chairmanship of BBC ‘Dragon’ James Caan and support of Lord Young, Philip will be providing particular guidance in the area of Loan Recovery, the letter from Lord Young stating: “based on what you have achieved at the ICM and through your combined expertise in cashflow management and credit, we believe you have the ability to advise on whether or not we have the right mechanism, process, procedure and drawdown facility in place to enable the smooth running of the issuing and recovery of loans.

“One of the key aspects of the success of the programme will be in the measurement of repayments and your expertise in this area will be invaluable to the board being able to effectively manage the success of the project.”

Philip King says that he is very much looking forward to the opportunity of working on such a significant initiative: “The appointment reflects the tremendous progress the ICM has made in recent years to promote the importance of managing cashflow and the vital role that professional credit management plays in a successful business – regardless of its size,” he says.

“To be in at the beginning of a vision that gives young people the opportunity of turning their entrepreneurial aspirations into reality – and to be working with such a strong and highly respected team – is an exciting prospect, matched only by the prospect of supporting the next generation of entrepreneurs.”

The ICM has been working closely with Government and the Department of Business Innovation and Skills (BIS) in recent times on a number of core projects – first among them being its series of Managing Cashflow Guides that have now far exceeded 300,000 downloads. It also manages BIS’ Prompt Payment Code: “There is a clear appetite to learn more about the benefits of prompt payment and effective cashflow management,” he adds, “and we will continue to support businesses to ensure they get access to the best advice wherever we can provide it.”