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

'Tis the season to be diligent! Business failure in January is rife....

Christmas has come and gone, the Christmas trees have all but gone, people have eaten their fill and now is the time for people to return to work and their businesses to be collecting their outstanding monies from their customers. 

But as we all know the pre-Christmas spirit rarely transfers into the new year.

January is statistically the month in which most UK businesses fail. Whether it be the sad story of their bigger customers withholding payments longer than they might or the more sinister reasons that cause small businesses to fail just shortly after the Christmas boom.

Lets be honest you have worked hard to acquire the customer, quote for your products or services, deliver them to the best of your ability but now all you want is to be paid... Isn't that the way it should be?

There are professional agencies who specialize in commercial debt recovery in a cost effective manor and there are also credit checking systems which will allow you to credit check your customer database to ensure that you will not be on the receiving end of a bad debt.

Creditserve offer a cost effective, competative and professional credit reference and debt recovery service so if you have any questions or simply want some advice please feel free to contact martin@creditserve.co.uk or call 01992 414222. You can also visit our website www.creditserve.co.uk for more information.

All the best

Martin Brown
Creditserve Business Information Ltd