Being denied company credit can be bad news for your business, especially if you need finance in order to grow. Did you know that 56% of company owners have used their own money to support their business, with the average amount invested being £22,700**
If your business has been refused credit or struggled to secure new finance, you’ll know how that can impact your plans. But is relying on your personal finances really the answer?
Protect your personal finances…ensure your business credit profile is the best it can be and give yourself the best chance of getting the finance you need.
With My Business Profile, you get full visibility of your business credit profile, enabling you to understand what’s affecting your company credit score and preventing you from being able to obtain that all important company credit.
Why would you use it?
Be more confident when applying for business credit and take proactive steps to improve your score if you want to apply for finance or credit in the future.
- Find out the top 5 factors influencing your score; give yourself the best chance when applying for business credit, by working on the areas that are affecting your score
- See what lenders see when making credit decisions about your business; this is one of the only reports of its type to include commercial CAIS data, making it the most accurate and fully comprehensive view of your own business credit profile
- Automatic alerts about significant changes, alerting you of every time there's a major change to your credit report, so you can act quickly to reduce any negative impacts to your score
- On-going advice and support to help make your business credit score the best it can be
This information is exclusive to business owners and Directors of limited businesses, so to activate My Business Profile you'll need to be registered at Companies House as a current director of the business and have either a personal or business credit card to hand to make payment.
Source: ** Yahoo Finance UK, 13/02/14 SMEs rely on credit cards to grow their businesses