Wednesday 14 May 2014

The Corporate Version of 'Phoenix from the Flames'

In mythology, a phoenix is an immortal bird that, when it dies, bursts into flames and is reborn from its own ashes. "To rise from the ashes of the phoenix" means to make a miraculous comeback.


We are all well versed with the saying 'Phoenix From The Flames', however the meaning has taken new form recently with the corporate world seeing more and more limited companies failing and then resurfacing shortly after under a very similar limited company name, with the same business shareholders and directors!.

Now companies that fail for whatever reason is not new as new statistics tell us that 50% of new businesses do not make their 3rd birthday. This is quite a staggering statistic, however we all know that for whatever reason there will always be businesses that cannot continue to trade.

There are some ways of protecting your company against this form of injustice, one way would be to carry out extensive credit checks prior to dealing with your customers. Credit agencies offer online facilities to obtain instant credit information. These credit reports are generally well detailed with financial accounts, shareholder information and director information, within the director information you will be able to view other limited companies that the respective directors have operated and their current credit limit and status.

These online credit checking agencies provide what is called a monitoring service which will keep you informed via email of any changes which happen to your customers and therefore will keep you up to date with important 

Creditserve offers various credit reporting solutions which can assist in making initial credit decisions, maintaining account management through company monitoring, group structure credit reports, director database reports, companies house documents with our professional debt recovery department as a back up to the online credit checking facility we offer.

There are packages to suit any size company or budget and our credit reports are of the highest standard which makes Creditserve one of the fastest growing credit reference agencies in the UK. 

If you would like more details on any of our services whatsoever please do not hesitate in contacting us through sales@creditserve.co.uk, LinkedIn Page Creditserve Business Information, twitter@creditserve1 or on 01992 414222