aicm
From the President
Trevor Goodwin LICM CCE National President
W
elcome to the second edition of our
the job, work pressure, financial and employment
Credit Management magazine for
concerns and issues such as workplace bullying.
2021. The year is flying by and we are
Work-related mental health conditions have
into the last quarter of the financial year. The major news so far this year has been the
become a major concern in Australian workplaces and employers and employees need to safeguard
introduction of the vaccine and the agreement
their mental health and the welfare of their
reached with the New Zealand government to
colleagues.
re-open borders for travel. Also, economic growth
These conditions highlight the importance of
is exceeding expectations, buoyed by cashed up
what we do as a profession and the role of the
households and residential construction which
AICM. Continuing on from our focus to support
is encouraging, although there will still be many
you virtually in 2020 in 2021 we will build on this
challenges and uncertainty ahead.
by delivering even more access to the updates and
The end to JobKeeper comes at a time when the economy is still undergoing adjustments from
resources you need. 2021 has kicked off with the insolvency seminars
the pandemic and will likely see a number of
in NSW, SA, Qld and Vic with WA to come in April.
businesses that were viable in 2020 close due to
These seminars have been indepth discussions
significant shifts in our spending habits. Anticipated
of what we have learnt and what we can expect
rising unemployment rates and possible further
with attendees left armed with what they need to
government intervention such as the border closures
succeed.
and permanent changes to our behaviour such as
To compliment the Insolvency Seminar series
travel and working from home will have a bearing.
we’ve released our second review of the risks credit
The number of business insolvencies that are
professionals face in our 2021 Risk Report which
expected to increase this year and requests for
is designed as a go to document where all metrics
repayment plans and extension of payment terms
impacting our sector are encapsulated, explained
will keep credit professionals busy, notwithstanding
and with a summary of actions to manage these
there are industry sectors that are in a better
ongoing risks.
position than others. This year so far has seen a small increase in
Our divisions have already been busy with a calendar of events set for the year and we have seen
credit insurance claims received by insurers. It is
a variety of events held in each division with strong
expected the increase in claim numbers will increase
numbers attending these functions.
in the second quarter of 2021 and beyond following
The Institute is into its second year of a
the wind back of government support measures,
three-year strategy plan developed by the Board
and financiers and the ATO re-aligning their
with the assistance of external consultants. Your
priorities on unpaid dues. After the expected “wave”
Board and national office team will continue to
the anticipation is for claim numbers to normalise
implement the plan throughout 2021 and 2022
back to what credit insurers saw in 2019.
ensuring the relevance and importance of the
With so much occurring in the past 12
Institute in future years, while strengthening and
months, mental health as well as customer
engaging our membership base, providing quality
financial hardship, are issues for businesses in the
education programs and advocacy submissions to
uncertainly of 2021 caused by high demands of
relevant bodies. Having a current strategic plan is
6 CREDIT MANAGEMENT IN AUSTRALIA • April 2021
