ICM surveying opinions for the latest ICM UK Credit Managers' Index
The latest round of the ICM Credit Managers’ Index (CMI – Q1 2014) is now open seeking views from credit managers to help compile the most comprehensive study of the credit industry and how businesses are currently managing their cash.
The CMI is a diffusion index, producing ‘scores’ of between one and 100 (typically in a range of 40 – 60). Ten equally weighted factors are included – three favourable and seven unfavourable – and the index calculated on a simple average of the 10 factors. Credit Managers’ views and statistics are sought on such issues as applications for credit through to days sales outstanding and topically for this quarter on the impact of the budget announcement’s doubling of business investment tax relief to £500,000.
The latest CMI (Q4 2013) prompted more than 500 responses from credit managers working in both the Manufacturing and Services sectors. The companies were broadly split by region, although slightly weighted to businesses in London and the southeast.
Philip King, Chief Executive of the ICM, says the survey is crucial to building an industry picture of current payment trends: “It’s essential that credit managers participate, it only takes a couple of minutes, but with enough responses our members, business organisations and Government departments can all benefit from important information on the state of our economy.”