Credit check a company or business to avoid bad debt and cash flow problems
New customers are the lifeblood of your business. However, with new opportunities thin on the ground, it’s tempting to begin business with a new customer without really knowing them. Unless you get paid up front, you’re providing your customers with credit. By not knowing who you are working with and not seeing a credit report for a business, you could miss vital information that may affect their ability to pay you.
Not every customer will be financially stable and you could easily find yourself chasing owed money. Waiting on money from one customer may mean you are unable to pay your suppliers, and the reputation you have worked hard to build may be damaged.
Getting a credit report for a business gives you the facts
When dealing with new customers it’s important to know who to trust. Credit checking a company allows you to make informed choices about who you work with. Understanding a potential customer’s financial information means that you can set the right terms of how you do business with them. You can set payment terms that suit you and make sure you’re always paid on time by customers who can afford your services now and in the future.
Get an accurate picture of a customer’s financial status with a credit report for a business:
- See an up to date credit score, suggested credit limit and risk assessment
- View payment profiles and discover unpaid accounts
- Check if the business has any CCJs
- Get alerts that keep you instantly updated on a company’s status
When you credit check a company or a business you get a full picture of that business's financial status, allowing you to make informed decisions on how to trade with them
“After having a number of customers go bust, we decided to start credit checking all new customers. Business Check gives us peace of mind that new customers are financially stable and are able to pay invoices on time or let us know if we need payment up front.”
Sam Lockley, Director - Skylock IT
* From £8.99 for an overview report