Entertainment

Animation Dance E-Sports Entertainment/Celebrity Film Music Radio Restaurants Sports Television Theater Video Virtual Reality
News Release Digital Asset Direct

Top Medical Groups Issue New Guidelines for Treating Musculoskeletal Pain

D S Simon Media

The American College of Physicians (ACP) and the American Academy of Family Physicians (AAFP) released a new clinical guideline recommending that physicians treat acute pain from non-low back musculoskeletal injuries with topical NSAIDs, as first-line therapy. Musculoskeletal injuries accounted for 65 MILLION health care visits in the US. Recently, Dr. Bob Arnot partnered with Salonpas and YourUpdateTV on a national satellite media tour to discuss this important topic. A video accompanying this announcement is available at: https://youtu.be/STZ5b3RHFJo The leading Medical groups, with more than 300,000 members, established new recommendations for treating acute pain from injuries such as sprains, strains and bruises based on a review of studies with more than 32,000 participants. They found that topical NSAIDs were most effective having the greatest net benefit for patients. This is a significant shift from using oral NSAIDs or Acetaminophen which are now listed as the second choice. In the guideline, the ACP and AAFP suggest against prescribing opioids for patients with acute pain from non-low back, musculoskeletal injuries. According to Dr. Arnot, these new guidelines will, “fundamentally change the way most Americans think about treating pain. Clinicians should treat patients with acute pain from non-low back, musculoskeletal injuries with topical nonsteroidal anti-inflammatory drugs (NSAIDS). A great example is the Salonpas Pain Relief Patch, which is applied directly to the site of pain.” For more information, visit Salonpas.us About Dr. Bob Arnot: Dr. Arnot is an Emmy award-winning broadcast journalist and author who was previously Chief Medical Correspondent for NBC and CBS News. About YourUpdateTV: YourUpdateTV is a social media video portal for organizations to share their.It includes separate channels for Health and Wellness, Lifestyle, Media and Entertainment, Money and Finance, Social Responsibility, Sports and Technology. Contact Details YourUpdateTV +1 212-736-2727 yourupdatetv@gmail.com

October 28, 2020 12:00 PM Eastern Daylight Time

Video

Graphic novel: Disinformation and cyber warfare illustrated in Real Fake

Stockwood Strategy

Deepfakes, bots, and troll farms are just some of the emerging techniques for creating and spreading disinformation. Erly Stage Studios has today published Real Fake , the digital graphic novel, which sheds a light on the disruptive forces at work. This book is the first of the graphic novels that are a part of the Resilience Series commissioned by the US Cyber Infrastructure and Security Agency (CISA). Real Fake will inform and educate people on the dangers and risks associated with dis- and mis- information through fictional stories inspired by real-world events. In Real Fake, readers will meet the protagonist Rachel O'Sullivan, a gamer, patriot and member of Symous - a group fighting disinformation and foreign interference in elections as polling day approaches. Farid Haque, founder and CEO of Erly Stage Studios commented: “We’re delighted to have been commissioned by CISA to create a practical and engaging communication tool that highlights the existential threat of disinformation in the context of bad state actors. While the story is fictional many of the approaches shown are very much grounded in the reality of the technology we live with and are exposed to almost daily.” Real Fake provides a unique education for the reader about the world of Deepfakes and their history while helping the reader understand the need to exercise care when it comes to consuming news and information via social media platforms and online sources of information. In the story, racing against the clock a group of citizens set out to shine a spotlight on the source of disinformation. They find it’s coming from across their borders and from the unlikeliest of places set up as farms to perpetuate information that maliciously misleads and influences electoral outcomes. The protagonists of the story have access to unique resources and are able to prove who the sponsors of disinformation are via their puppet farms set up around the world to troll democracy in the land of the free. “Real Fake is the culmination of the wealth of experience that Clint Watts brings in cyber warfare and disinformation and our studio’s creative direction and storytelling style. We spent months researching the real life incidents and then wrapped them into a fictional story” added Farid Haque. The graphic novel is being made available by CISA to the general public online as a free resource ahead of the 2020 US Presidential election at the following URL: https://www.cisa.gov/cfi-resilience-series-graphic-novels . A subsequent title in the series will be released a few weeks afterwards titled Bug Bytes. Watch this space and log back into https://www. publishing.erlystagestudios.com to learn more. Contributing artists to Real Fake include: Annas Dar, Jose Niño Galenzoga, Patricia Beja, Mona Shan and Joel Santiago. Lettering and layouts by Annas Dar, Komal N. and Haroon M. Story by Clint Watts and Farid Haque, supported by the script writing team which includes Michael Gianfrancesco and Kabir Sabharwal. Edited by Tolly M. and Laila Khan. Special thanks to Randall Heather and Max Brooks. ENDS About Erly Stage Studios Erly Stage Studios is an indie publisher, headquartered out of London, United Kingdom, capturing iconic stories in serious graphic novels. We are an expert team of educators, storytellers, and artists working to create awareness about important topics using the graphic novel medium. The team loves shining a spotlight on stories that are yet to see the light of graphic novels. As an expert team of teachers, researchers and designers the team works with innovative organisations and policymakers around the world to deliver soft power through engaging and creative projects. Contact Details Bilal Mahmood +44 7714 007257 b.mahmood@stockwoodstrategy.com Company Website https://publishing.erlystagestudios.com/

October 28, 2020 07:00 AM Eastern Daylight Time

Image

QUARTER4 FINALIZES PRE-SEED FUNDING

Quarter4

Quarter4 , an easy-to-use, AI-driven predictive sports platform, announced it has finalized a pre-seed funding round. Angel investor Melissa Durrell , the President and Chief Strategy Officer of Waterloo-based Durrell Communications, in addition to investor and advisor Hazem Dawani , CEO of New York-based Predata, are amongst the key investors this round. Financial terms were not disclosed. 2020 has been a pivotal year for the company. Quarter4 onboarded more than 5,000 users to the platform during the COVID-19 condensed 2020 NHL and NBA seasons. The company also launched its business focused 4Business platform. 4Business grants sportsbooks, data providers and media agencies insights and innovative ways to deliver new content through Quarter4’s signature advances in unique AI-driven datasets into player and team performance. “As the sports betting industry opens up to new markets across the US and Canada, millions of new bettors will be targeted to participate but will be too intimidated or unsure how to navigate the complicated world of sports betting,” said Kelly Brooks , Quarter4 CEO. “We’re excited to use this pre-seed funding to help expand the breadth of our technology and intuitive customer interface and empower the millions of casual and mid-tier bettors that want to maximize their investment by utilizing stronger, data-based decisions.” Founded by career technologists Brooks and CSO Danijela Covic , Quarter4 incorporates proprietary AI and machine learning algorithms, as well as voice technology, to determine the probability of wins and losses and player vs. player outcomes in just minutes. Quarter4’s data and analysis gives bettors an informed insight about a matchup, rather than confusing data, giving users added confidence to make more informed bets. “The sports betting industry is in its infancy in North America and investors are looking for innovative companies creating products and solutions that can influence and expand the category. Quarter4 is one of those companies as its product levels the playing field between new entrants and professionals,” said Melissa Durrell. "I believe in the strength of Quarter4's data and the innovative platform driving its success. As a female investor that is used to a little risk, I'm confident I'm betting on the right team." Quarter4 currently runs analytics for the NHL, NBA and NCAA basketball but will expand to the NFL and MLB in 2021. For more information please visit Quarter4.io ABOUT QUARTER4 Quarter4 is a revolutionary artificial intelligence platform that generates thousands of daily predictions called 4Qasts. The easy-to-use sports technology delivers proprietary insights, related to team and player performance, in just seconds. Quarter4 provides sportsbooks, data providers, media agencies and sports bettors with predictive data that is unique, personalized and non-biased. Contact Details Michael Adorno +1 212-931-6143 madorno@hotpaperlantern.com Company Website https://quarter4.io/

October 27, 2020 10:03 AM Eastern Daylight Time

FABER DISTILLING ESTABLISHES FOUNDATION SUPPORTING VULNERABLE COMMUNITIES

The Faber Foundation

Earlier this year, Pennsylvania-based Faber Distilling Co . (Faber) shifted production of its high-quality vodkas, gin, and rum to the manufacture of hand sanitizer ( Faber Hand Sanitizer .) While many distillers have made similar adjustments, Faber scaled the production of its hand sanitizer to supply consumers as well as medical professionals and first responders when supplies were scarce. Continuing with its mission to put sanitizer and other personal protection equipment (PPE) into the hands of those who need it most, the company is announcing the launch of The Faber Foundation – a charitable organization. The mission of the Faber Foundation is to help combat the spread of COVID-19 by equipping those who need hand sanitizer and other PPE with these critical supplies – quickly and efficiently. “When the pandemic escalated in the United States, our founders rose to the challenge and converted a distillery into a hand sanitizer production facility. By producing millions of bottles and distributing nationwide, Faber Sanitizer helped fill the void during the sanitizer shortage of 2020. Now, our founders are turning their efforts to help those communities that are still struggling to obtain PPE,” explained Faber’s Director of National Accounts, Brenden Pakebusch. “More than 1,000,000 bottles of hand sanitizer and other PPE worth more than $2,000,000 is already slated for donation, and with greater cooperation, even more is possible.” The beneficiaries of Faber Foundation’s generosity include organizations, large and small, which work directly with the Federal Emergency Management Agency (FEMA) and the American Red Cross. Organizations that need sanitizer and PPE are encouraged to contact the Faber Foundation here: https://www.thefaberfoundation.com/inquiries As COVID-19 continues to disrupt public health and the economy, those wishing to support this cause are encouraged to donate here: https://www.thefaberfoundation.com/donate . “When Faber began manufacturing sanitizer, we responded to the immediate needs of so many organizations and individuals to obtain product. Although supplies have become more plentiful, challenges still remain in getting sanitizer into the hands of health professionals, first responders, and other essential workers who need it most,” Pakebusch continued. “The Faber Foundation is proud to meet these needs and welcomes the support of others wishing to participate.” The Faber Foundation ensures that donations are immediately deployed, getting essential supplies out in real time, with the cost of transportation and shipping also contributed. The Foundation does not assess any management or administrative fees, allowing nearly 100% of these donations to benefit nonprofit organizations and essential workers. “These are difficult times and helping ease anxieties by removing the obstacles of obtaining sanitizer and PPE to combat the spread of COVID-19 is essential,” said Pakebusch. “If you want to support something that will truly save lives and help to turn the tide of the pandemic, then the Faber Foundation is an efficient and effective organization that is already making a difference.” The Faber Foundation’s existing supply and access to hand sanitizer can reassure nonprofit organizations, school leaders, healthcare workers, and others on the front lines, that the hand sanitizer follows FDA guidelines, and will be available when they need it. Product is shipped directly in a variety of pack sizes as well as by the pallet load. To learn more about the Faber Foundation’s Hand Sanitizer and support global health, please visit https://www.thefaberfoundation.com . ### To schedule an interview with Faber’s Brenden Pakebusch please contact Dan Rene of kglobal at 202-329-8357 or daniel.rene@kglobal.com. Contact Details Dan Rene +1 202-329-8357 daniel.rene@kglobal.com Company Website https://fabersanitizer.com/

October 22, 2020 03:30 PM Eastern Daylight Time

CMMC Center of Excellence Announces Memorandum of Understanding with Parava Security Solutions LTD

Interoperability Clearinghouse

The Cybersecurity Maturity Model Certification Center of Excellence ( CMMC COE ), hosted by the Information Technology Acquisition Advisory Council (IT-AAC), a public-private partnership serving the public and private sectors for more than 15 years, is proud to announce a Memorandum of Understanding with Parava Security Solutions Ltd in the UK, and the establishment of the CMMC COE EU. This unique partnership will extend efforts to advance the goals and objectives for improving the cyber and supply chain security and resilience of the US Department of Defense (DoD) global Defense Industrial Base (DIB) network of contractors, suppliers, and vendors. The executed MOU establishes a cooperative agreement between Parava Security Solutions Ltd. and CMMC COE to partner in the furthering of their respective and complementary missions and objectives regarding the adoption, use, and expansion of CMMC based cybersecurity practices for the DIB contractor community and the information and communications technology community creating a broader CMMC ecosystem to improve security and resilience. Specific actions will include: The co-development of CMMC advisory services, cyber training and education programs to accelerate CMMC certification, increase cyber adoption and improve cyber protection & resilience. Co-sponsor symposiums, training programs and podcasts leveraging their combined cyber and IT expertise. Host regular working groups, with other partners, to enable collaboration and communications. Source qualified CMMC/ cyber professionals to serve as cyber advocates. Establish an independent Industry Cyber Security Advisory Council with peer organizations to advise and educate leaders across government and industry on the continued evolution and effectiveness of CMMC. The CMMC-COE ( www.cmmc-coe.org ) and the CMMC COE EU ( https://cmmc-eu.com/ ) will focus on bringing together the many disparate cyber and national security communities of interest to reduce complexity, improve awareness, and accelerate industry effort to become more cyber resilient against the growing threats from nation states and criminal enterprises. The CMMC-COE partner network will share a wide range of capabilities from member organizations, including; cyber standards frameworks, education, solution architectures, cyber mentoring, workforce, and other elements needed to scale to the demands of the entire DIB market place in the US and abroad (approximately 400,000 contractors). The CMMC-COE is establishing both a Market Place and Knowledge Clearinghouse that includes resources supporting the overall effort, including white papers; tutorials; recorded webcasts; presentations; and more.. to help reduce the cost and burden on small/medium size contractors already struggling from the impact of COVID. “This is a momentous occasion for us” , said Mr. John Weiler, Chairman of the Board at CMMC Center of Excellence , “Our European center will further help advance the goals and objectives for improving the supply chain security and resilience of the US Department of Defense (DoD) beyond North America”. For more information on the CMMC COE, please visit Americas: http://cmmc-coe.org email info@CMMC-COE.org or call +1-703-863-3766 Europe: https://cmmc-eu.com/ email andy@cmmc-eu.com or call +44 (0) 7734 113952 For more information on Parava Security Solutions, Ltd., please visit https://www.parava.org/ About Us ---------- CMMC-COE.ORG is a unique non-profit public-private partnership, with a vision to accelerate Cybersecurity Maturity Model (CMM) adoption, and reduce time & cost for security compliance for our partners by leveraging commercial best practices, CMMC standards, and innovative solutions for a measurable success. Our mission, focused on DOD mission objectives, cost containment and expeditious CMMC compliance, is to help the DIB improve cyber posture and resilience, and simplify its acquisition. The CMMC-COE is hosted by the Information Technology Acquisition Advisory Council (IT-AAC), a public/private partnership (P3) chartered in 2007 as an honest broker to reach outside the confines of the Federal IT advisories that lack dynamic reach into the Global IT Market, and dedicated to the adoption of commercial IT management standards of practice and innovations emanating from the Global IT market. Team IT-AAC has already demonstrated the value of its decade long investment, and provides a unique value to agencies seeking to achieve accelerate the transformation of legacy processes and systems. Our Just-in-Time SMEs apply an innovative suite of Technology Business Management and Agile Acquisition Processes needed to assure the business value of commercial IT. The Interoperability Clearinghouse (ICH), is the managing partner that make up the 24 NGO/SDO organizations that make up the IT-AAC. ICH provides the contract vehicles, clearances, and critical resources proven to guide sustainable, measurable and repeatable processes needed to drive better investment decisions as the speed of mission need, while aligning existing processes, methods and workforce with IT reform mandates contained in Clinger Cohen Act, FITARA, IT MGT Act, EO13838. Parava is a cyber security advisory firm, with experience in providing strategic, tactical, and operational cyber security, risk oversight, and assurance services to Government agencies and private companies in Europe. For more information on Parava Security Solutions, Ltd., please visit https://www.parava.org/ For more information on the CMMC COE EU, please visit https://cmmc-eu.com/ Contact Details Bob Dix +1 703-975-6633 bob.dix@it-aac.org Company Website https://cmmc-coe.org

October 19, 2020 06:00 PM Eastern Daylight Time

The Safest Mask is the One You Wear…..and Trust: How To Pick And Wear A Face Mask

YourUpdateTV

The CDC Director recently clarified that the COVID virus is airborne and therefore the usage of masks is now essential to protect you and those around you. Furthermore, the Director has said that masks may offer a higher level of protection against COVID than a vaccine. Therefore, it is essential is to actually use a mask which works and that you can trust. Currently, the vast majority of people are using either basic cloth masks or 3 ply surgical masks. However, these masks offer limited, if any, protection. Therefore, we wanted to let you know about the AirQueen which is a FDA 510K cleared N95 substantial equivalent medical mask that is so safe it is approved for use during surgical procedures. A video accompanying this announcement is available at: https://youtu.be/xkjxA6WeKxU The AirQueen is made with a highly advanced nano-fiber material to provide extreme protection with a minimum of 95% protection and an average in excess of 97% particle filtration (see the Nelson Labs reports on the website for more details). The nano-filter allows extreme breathability and comfort which, in addition to the excellent protection provided, is one of its strong value propositions. Another major advantage of the AirQueen mask is that it can be cleaned up to 10 times with a simple ethanol spray wash (also available on AirQueen.com) making it the most protective mask available which is also affordable. Even better is that the AirQueen is allowed to be sold to the general public which means you can provide the highest level of protection for you and your family and loved ones. Lastly, there is also a highly protective kids version, the Airbon mask, which is made from the same filter and manufacturing process as the AirQueen making it one of the safest masks for children on the market. During the nationwide media tour Dr. Bob Arnot discussed: The benefits of wearing a mask and why choosing the right one is important The proper way to wear a mask The availability of masks Technology behind the AirQueen mask, a FDA 510K cleared N95 substantial equivalent Please go to AirQueen.com to learn more about the AirQueen adult and Airbon kids masks and help the world put an end to this pandemic safely. About YourUpdateTV: YourUpdateTV is a social media video portal for organizations to share their content. It includes Health and Wellness, Lifestyle, Media and Entertainment, Money and Finance, Social Responsibility, Sports and Technology. Contact Details YourUpdateTV +1 212-736-2727 yourupdatetv@gmail.com

October 07, 2020 12:15 PM Eastern Daylight Time

Video

Monster Energy’s Sam Reynolds Takes Second in Speed & Style and Monster Army’s Charlie Harrison Takes Third in Downhill at Crankworx Innsbruck

Monster Energy

Monster Energy celebrates two podium results from the Crankworx festival in Innsbruck, Austria this weekend. Sam Reynolds takes second place in Speed & Style and Monster Army’s Charlie Harrison takes third in Downhill. Under stormy and changeable conditions in the Austrian Alps, the Crankworx World Tour festival organized a successful and safe event for the best in Europe to compete in the multi-discipline elite events. Throughout a thoroughly windy and rainy day, the Speed & Style qualifying rounds saw UK’s Reynolds bag the fastest race results and a 2nd place finish overall. The conditions deteriorated through the day and under consideration for the athlete’s well-being, the decision was made to cancel the final and award the results based on the qualifying runs. Reynolds was the only rider to cross the finish line in under 24 seconds and was the fastest of the day but was just over-scored by the winner Thomas Lemoine on tricks. This marks the 4th podium for Reynolds in the Speed & Style discipline and he was stoked to be back competing: “It was great to be back at the sharp end competing with the guys,” said Reynolds. Everyone did a great job at Crankworx to make an event happen with everything going on, and it was awesome to see the huge efforts just to make it happen.” In the final day of competition, the iXS Innsbruck Downhill took place under wet and muddy conditions that proved eventful for the competitors. For Monster Army’s Harrison, the weekend was a great stomping ground to get the race jersey back on and feel the heat of competition once more. “It was a solid weekend, super grateful to have had a warm-up race before World’s,” said Harrison. It’s just really nice to be back with the team to get back into that race mindset and get to race some fast guys and see where I’m at in terms of speed.” The course tested the riders’ skill and technical ability with challenging conditions after a deluge of rain and some of the athletes were getting untuck on the corners at the bottom of the course. Harrison nailed these key sections and finished just +1.870 off the fastest time set by Austrian, David Trummer, and finished in a strong 3rd place podium finish. In the end, Harrison was just happy to be able to test his speed against the competition and find his feet against the clock once more, after the extended break from events. “It’s been such a long time since I’ve raced, pretty much everyone’s in the same boat,” said Harrison. “So, it’s good to get back into it and kind of use it to try and get a check on how everything’s feeling and dial in the little race routines before World Champs this week.” Download high res photos for editorial use. Up next–stay tuned for more details on the Mountain Bike team as they head to the World Championships in Leogang, Austria October 9-11. For more on Reynolds, Harrison and Monster Energy’s Mountain Bike athletes visit www.monsterenergy.com Follow Monster Energy on YouTube , Facebook , Instagram and Twitter . ### About Monster Energy Based in Corona, California, Monster Energy is the leading marketer of energy drinks and alternative beverages. Refusing to acknowledge the traditional, Monster Energy supports the scene and sport. Whether motocross, off-road, NASCAR, MMA, BMX, surf, snowboard, ski, skateboard, or the rock and roll lifestyle, Monster Energy is a brand that believes in authenticity and the core of what its sports, athletes and musicians represent. More than a drink, it’s the way of life lived by athletes, sports, bands, believers and fans. See more about Monster Energy including all of its drinks at www.monsterenergy.com . Contact Details Kimberly Paige Dresser +1 949-300-5546 kim.dresser@indiepragency.com Company Website https://www.indiepragency.com

October 06, 2020 06:00 AM Eastern Daylight Time

Monster Energy’s Mitch Ropelato Takes First Place in Dual Slalom at Inaugural Strait Acres Slalom Invitational in Alpine, CA

Monster Energy

Monster Energy rider Mitch Ropelato t ook the top spot at this weekend’s inaugural Strait Acres Slalom Invitational event in Alpine, California featuring the who’s who of America riders. For the first time, Dual Slalom made its debut at Strait Acres where the top 16 men and top eight women qualified to compete in the finals. Racers faced a short and fast course with tight berms, a rhythm section, a couple of fast left and rights, and finished with classic loose flat dirt turns. The dual slalom track was on the longer side of about 30 seconds long with open turns, a few back-to-back S berms, stall wall and a rhythm lane. Racing was fast and furious with riders blasting through corners faster than they were able to process what was happening in the next lane. As soon as they made it past the last set of berms, it was head to head in a good old-fashioned flat, loose dirt gate bashing session. With the ground hard and dry, it was surprisingly slippery and more than one big name was taken out on the dry decomposed gravel where Ropelato’s rival in the finals and event host, Kyle Straight, slid out in the last corner handing Ropelato an advantage going into the second and final run. Ropelato who had qualified in second place, raced smart all day, pushing where he could and not making any mistakes using his slalom experience cutting through the field to take the win in the end. “Before I arrived, it was my mindset that the event was going to be low key fun little event, but then as the week progressed things got a little serious and while it was still fun, the intensity level went up on every run and I had to keep focus all the way to the end, said Ropelato. This was one of the sickest events I’ve raced in a long time! The course was fun, well organized and racing was awesome- stoked to have picked up the win!” Download High Res Images for Editorial Use. For more on Ropelato and Monster Energy’s Mountain Bike athletes visit www.monsterenergy.com Follow Monster Energy on YouTube , Facebook , Instagram and Twitter . ### About Monster Energy Based in Corona, California, Monster Energy is the leading marketer of energy drinks and alternative beverages. Refusing to acknowledge the traditional, Monster Energy supports the scene and sport. Whether motocross, off-road, NASCAR, MMA, BMX, surf, snowboard, ski, skateboard, or the rock and roll lifestyle, Monster Energy is a brand that believes in authenticity and the core of what its sports, athletes and musicians represent. More than a drink, it’s the way of life lived by athletes, sports, bands, believers and fans. See more about Monster Energy including all of its drinks at www.monsterenergy.com . Contact Details Kimberly Paige Dresser +1 949-300-5546 kim.dresser@indiepragency.com Company Website https://www.indiepragency.com

October 06, 2020 05:00 AM Eastern Daylight Time

UK SMEs lose £2.2bn as customers fall into administration during lockdown

Stockwood Strategy

SMEs across the UK are counting the cost of the lockdown as they prepare for a testing final quarter of 2020. Risktech business Nimbla , surveyed* 2,000 UK SMEs and found that £2.2bn in revenue (for goods and services provided during lockdown) has been lost because those customers fell into administration. A number that is set to increase dramatically over the course of the next year. More than a third (38%) of SMEs are still waiting to be paid an average of £59,013, for work they completed before the lockdown. Worryingly, a fifth (21%) of these companies believe they will never recover the full amount, losing on average £24,903 because those customers have gone into administration. Looking at the bigger picture, this is worth £2.2bn in revenue across all SMEs (with outstanding payments) that will not be realised. Lost time and revenue Businesses reported, on average, 6 invoices go unpaid every year with half of these worth £41,193 written off due to their customers becoming insolvent. Yet, surprisingly, only 4% of business owners take out trade credit or invoice insurance, which protects the supplier against their customers’ insolvency. Business owners do spend time thinking about a potential insolvency event with their customers. In the event that happened, most of them (83%) would continue trading but the impact on cash flow would lead to changes in asking customers for deposits, requesting shorter payment terms, declining larger projects and fear their credit scores falling. Business owners spend, on average, two weeks chasing an invoice payment which eventually was never paid because the customer became insolvent. Flemming Bengtsen, CEO at Nimbla commented: “The impact the lockdown has had on SMEs, who are the heart and soul of the UK economy, is astonishing. Many have survived several attacks during the pandemic and, now, knowing they won’t get paid for the work they did is another huge body blow. There could be more bad news on the horizon for smaller businesses as high street chains face difficulties and potential insolvencies.” Looking ahead Businesses anticipate making, on average, £263,000 revenue between now and the end of the year. However, as customers seek longer payment terms from 30 to 60 days to settle invoices, three in five (60%) business owners are nervous about not getting paid at all with expectations that one in six customers will become insolvent before the end of the year. This is a major issue as more than a third (36%) of businesses were heavily concentrated, reporting that more than two-thirds of their revenues came from a handful of customers. Overall, business owners reported 61% of their customers said they were doing well in terms of their revenue, going steady with sales and generally content with the business environment. Yet, business owners were sceptical about their buoyant spirit, with only a quarter (26%) believing what they say. Flemming Bengtsen added: “The current uncertain economic environment means doing business isn’t easy, it’s made all the more difficult with SMEs anxious about getting paid. Trading on trust and confidence has deteriorated. It is time, as a collective, to bring this back. Business owners cannot afford to bury their heads in the sand; they should protect themselves and insure against the potential insolvency of their customers.” ENDS Notes to the Editor *Research findings based on a survey of 2,000 UK companies (who are employers with a minimum turnover of £250,000) conducted for Nimbla in September 2020 by LM Research & Marketing Consultancy (Market Research Society approved partner and ESOMAR corporate member). About Nimbla Nimbla makes sure businesses get paid for their hard work, even if a customer becomes insolvent. Founded in 2016, the risktech company is on a mission to give SMEs the confidence to trade with a peace of mind using invoice insurance. Nimbla’s digital insurance platform backed by expert risk analysts, allows businesses to check a buyer’s ability to pay and insure individual invoices against non-payment in a fast and affordable way. This will enable business owners to safeguard against insolvent customers, expand into new and existing markets and secure better borrowing terms. The platform can be accessed directly ( www.nimbla.com ) and through partnerships with Barclays and Starling Bank. Based in London, Nimbla aims to bring the trade credit industry into the 21st century. Challenging traditional insurance models, the cover is flexible and adapts to fit your business — whether it’s a one-off invoice or multiple transactions. Contact Details Bilal Mahmood +44 7714 007257 bilal.mahmood@nimbla.com Company Website https://www.nimbla.com/

October 06, 2020 04:00 AM Eastern Daylight Time

1 ... 229 230 231 232 233 ... 241