New Business Owner? Concerned About Your Credit Limit and Risk Score?

There is no doubt about it, being a business owner in todays financial climate is not easy, sometimes risky, but with the right help I can be very lucrative.

In today's blog I want to advise you that the perception of potential suppliers or customers will definitely make or break your business venture. 

a staggering 88% of businesses fail within the first 12 months of starting, this is truly astounding but to some extent this comes down to being perceived in a bad light by suppliers or customers.

One thing they will be doing before entering into a business relationship with a new business is looking at any financial records available, so for limited companies they will carry out an online credit report, for sole traders or partnerships they will almost certainly look at a consumer report along with trade or bank reference information. 

Now the best thing to do is ensure that if you file any and all information or fill out any application with as much information you can so as to give the perception of transparency. Your suppliers will definitely look at this in a positive manner. 

With this in mind you will need to credit check your suppliers to ensure they are able to fulfil your requirements, so many new businesses are affected by poor supply lines, so do the checks to make sure you don't get caught out.

Creditserve are a provider of quality online credit reports and can cater for any and all requirements so if you would like to view a credit report on a company please feel free to contact us via email sales@creditserve.co.uk or 01992 414222 Or visit our website www.creditserve.co.uk.