URICA, the government backed early payments network for SMEs, is pleased to announce that it has appointed former CBI Director-General & former Minister of State for Trade & Investment, Lord Digby Jones, to its board of directors. He will join the URICA team in a non-executive capacity, in addition to his existing role as Business Ambassador.
Lord Digby Jones will sit alongside Lindsay Whitelaw, Chairman, and Richard Ramsay, Senior NED, helping to further strengthen URICA’s senior management team. He brings a wealth of knowledge and expertise having had a long and successful career in both business and government. His previous roles have given him valuable insight into the UK’s business landscape, as well as how to develop innovative business solutions.
Lord Digby Jones is a crossbench peer in the House of Lords and holds a number of non-executive roles across a wide range of businesses. He is also a regular business and political contributor for TV and radio.
Commenting on the appointment, Lindsay Whitelaw, Chairman of URICA, said:
”Lord Digby Jones has been an invaluable asset to URICA since day one. His broad experience and acute understanding of the challenges facing the business sector place him at the pinnacle of his field. In his role as a URICA ambassador he has excelled in giving a voice to those businesses for whom traditional methods of financing are tremendously difficult, and spreading the word about how URICA can help.
It was therefore a natural next step for us to bring him on as a member of our Board. In addition to his ambassadorial position, Lord Digby Jones will now play an important internal role at URICA as we progress as a business. We are all very much looking forward to welcoming him on board.”
Lord Digby Jones, incoming non-executive director, said:
“I am delighted to be joining the Board of URICA. I fervently believe their product is vital to the future growth of small businesses and essential in overcoming the challenges of SME financing. Cash flow has always been a stumbling block, and URICA presents an innovative way of facilitating payments whilst enabling larger companies to make a reality of partnerships and ethical working. URICA continues to do a fantastic job of supporting and advocating smaller businesses, which play such a significant role in driving sustainable economic growth.
My step-up to the Board of URICA is a privilege, and I hope to make valuable contributions in the years ahead.”
About Lord Digby Jones
The former Minister of State for Trade and Investment (2007 – 2008) who has led over 20 trade missions travelling to 31 countries in 45 overseas visits.
Lord Digby Jones draws on over 3 decades of experience growing successful global businesses and currently sits on the board of over 17 companies including Triumph Motorcycles Ltd, Jaguar Land Rover, Harvey Nash, JCB, Babcock International Group plc, Aon Risk Solutions and URICA.
About URICA
Launched in 2014, URICA’s global online payments network allows businesses to trade on the payment terms they both want – immediate cash payment for the supplier and up to 90 days credit for the customer. Stripping away the need for personal guarantees, security or complex paperwork, URICA takes on all the credit risk of non-payment and lets businesses trade on a near cash basis.
URICA’s zero-debt finance alternative not only strengthens the supply chain and improves access to working capital; it also ensures payments to each supplier are paid on time. Whether operating in the UK or overseas, businesses can start connecting with their customers and suppliers across URICA today.
URICA is government backed via the British Business Bank and underwritten by Euler Hermes, the world’s largest credit insurer.
‘URICA could mean the end of invoice discounting and factoring.’ – Sir Ronald Halstead, EIA President