Weekly Blog by Philip King, CEO of the ICM - 'Watching and learning'

I attended my third Start-Up Loans Company Board Meeting this week, and it was a masterclass.  If you've read James Caan's autobiography, you'll know that he attributes much of his success in the recruitment sector and subsequent businesses to his skill at asking questions, teasing out meaningful responses and, as a result, choosing the right people.

As each director presented an update on what had been achieved in their area of activity since the last board meeting and set out their key challenges, it was fascinating to observe him use questions to unearth underlying themes, and then use further questions to identify the priorities for the month ahead, and commitment to getting them achieved.

It's difficult to pinpoint the specific techniques or words used, hard though I tried since I always like to watch and learn from people I meet.  I guess it's more of an inert talent that just seems to work, and it's amazing to watch in action.

Individuals aside, the progress made in the last 60 days is incredible and the next 60 days are going to be really exciting as Start-Up Loans become available and the scheme fully operational. Watch this space for more details to follow and, in the meantime, I've been reminded of the power of people-watching and learning. I'll keep hoping that some of the positives rub off on me now and again!

To find out more about the Institute of Credit Management visit www.icm.org.uk or follow Twitter Http://www.twitter.com/ICMorg and http://www.twitter.com/philipkingicm

Weekly Blog by Philip King, CEO of the ICM - 'The power of collective action'

I blogged a couple of weeks ago about the impact we can have as individuals and the responsibility that carries with it. Developing that thinking, I've been reminded this week of the collective power of individuals coming together with a collective aim. Winston Churchill is oft quoted as saying: ‘Never doubt that small groups of people can change the world. In fact it’s the only thing that ever has.’

I attended my second board meeting of the Start-up Loans Company this week and James Caan has pulled together a formidable group of people, allocating responsibility for particular aspects of the programme to each director. In four weeks an amazing amount has been achieved both individually and collectively by a group of people who believe in the benefit of what is being delivered and are committed to making it happen. We are at the start of a really exciting journey and I believe the concept and reality of Start-up Loans is going to be a huge success about which I'll no doubt write more in the months ahead.

When I look around the membership of the ICM, I see similar stories every week. A group of people come together as a branch committee, for example, and deliver events for local credit professionals that educate, energise, and motivate them to deliver more as individuals and for their organisations. At ICM HQ, following our restructure in January, I see the team working together with members and other stakeholders to deliver quality events for the wider credit community; in the last couple of weeks alone, I've witnessed this at our Regional Roadshow in Cardiff, the QiCM Best Practice Event at Reading, the Fellows' Lunch and Graduate Reception in London, and the Education Conference in Birmingham.

To close with a further quotation, this time from Aristotle: ‘the whole is more than the sum of its parts’. Working individually and collectively, we can make a real contribution and make a real difference. That's what our credit community is all about.

Weekly Blog by Philip King, CEO of the ICM - 'A journey of discovery'

In my blog last week I mentioned that I'd seen a really good example of the Government working with the wider business community to deliver growth through tangible and practical support.  I said that sometimes Government has to create an environment in which something can be created and delivered without its direct and ongoing involvement.

I was referring specifically to the launch of the Start-up Loans Company, which many of you will by now have seen in the press.  You may also have learned from our own ICM announcement that I've been invited to join the Start-up Loans Company board.

The Start-up Loans Company is different from any previous Government scheme I have ever seen.  It is not a case of ministers throwing money at a problem just to say that they are doing something – money that is often squandered. This scheme is much more focused, and has a specific purpose.

The Start-up Loans Company is a limited company with an independent board chaired by respected entrepreneur James Caan.  While the funds come from the Government purse, our role as a board is to be responsible for identifying appropriate delivery partners, and for setting the ground rules that they will have to follow. Government is stepping back, letting the board lead the initiative, and giving us the autonomy to be able to drive the scheme forward.

Loans will be at a competitive interest rate, and are likely to average £2,500 (though not a maximum as has mistakenly been reported elsewhere).  They will be repaid over a period of up to five years.  Crucially, the initiative – as Lord Young stressed as the launch event – is not just about the cash; it is also about the support the young entrepreneurs (aged between 18 – 24) will receive from a network of mentors across the country, to help turn their dreams into reality.

The board is also comprised of experts chosen to help the scheme succeed.  Each board member has a particular area of responsibility and will be expected to deliver real tangible results.  It is especially gratifying to see the importance of cashflow and credit management being recognised and getting their rightful place. My brief is to ensure we have the right mechanism, process, procedure and drawdown facilities in place to enable the smooth running, and monitoring, of the issuing and recovery of loans.  The sort of things that credit professionals do every day, but not what you'd necessarily and ordinarily expect to see included in a government initiative.

I can't wait to get started, and I'm going to enjoy working alongside Lord Young, James Caan, Bev James, Julie Meyer, Duncan Cheatle and the other directors.  I believe they are going to teach me more than a thing or two along the way and I know I'm going to get as much out of this journey as I put in.  Seeing youngsters set up their own businesses and take steps towards their dreams is a massive opportunity and I feel privileged to be part of it.