Business Credit Check

 

As a business, you will often need to do business with other businesses: as suppliers, customers or partners.  Even if the other business will not owe you money directly, you may find that a poor credit record on their part may still cost you money if you rely on them too much.  What if they can no longer pay their suppliers, or even go out of business?

Before committing to doing business with another company or individual, and certainly before relying on them in any way that could jeopardize your own business, it may be appropriate to perform some form of Credit Check on the business.

Various companies provide internet sites with free credit check facilities - make sure you select one that provides business or corporate credit checks and credit reports rather than personal credit checks.  Although you can initiate the process on line, you will probably need to wait for the credit reference report (perhaps a week to 10 days).

A poor credit reference report would not necessarily indicate that a business is unreliable, or unsound.  It may be because the business has not yet established a sufficient trading history.  They may still be excellent suppliers, partners or customers, but you may be sensible not to depend on them exclusively.

Able was I ere I saw Elba

Financial Information Services; Business & Professional Information Services

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