One of the major problems small business owners cite when questioned about running their own business is ‘cash-flow’, and knowing who they should be doing business with.
On average, nearly two thirds (60 per cent) of SMEs in the UK (according to research from Sage), have had to wait for 60 days or more for payment; while almost half (47 per cent) have experienced waits of 90 days or more. As a result, cash flow suffers, and small businesses suffer. Research by the Credit Management Research Centre reported that the average small business incurs £14,000 worth of bad debt write off every year.
So how do you go about resolving cash-flow problems and choosing reliable, credit-worthy businesses with whom to trade?
CreditHQ is a straightforward service, allowing users access to credit and payment reports from the leading Credit Reference Agency, Dun & Bradstreet. For absolutely no charge, you can check all of your potential customers, and keep track of suppliers and competitors as well – receiving updated information when their credit or payment details change so you know what action to take.
CreditHQ is available FREE, providing users with access to over 7 million UK company records via simple-to-understand ‘traffic light’ financial indicators.
For more detailed financial records, such as net worth, assets, liabilities, sales, and details of adverse credit events; the Standard subscription is available for only £25 per month – and we’d like to offer you the first month absolutely FREE this Valentine’s weekend.
Just enter “VAL15” in the promo code box when signing up for a standard account to track what others can see about your company’s prospects and to be the first to know the key information that impacts your business.* If you discover that CreditHQ isn’t for you, simply cancel your subscription any time within the first month.
Use CreditHQ to keep an eye on your own business!
Maintaining awareness of your own company’s details and credit score is vitally important for any business, and even if the impact is less dramatic than in this example, your company’s credit score can be impacted by incorrect data, errors or data not reaching credit reference agencies like Dunn and Bradstreet. CreditHQ is the simplest and most cost-effective way to set your mind at rest and closely monitor the credit status of your company. Not only can you see the credit score that other companies use to assess whether to place an order with you, but you can also check Companies House information – ensuring you’re up to date.
Go to www.credithq.co.uk to get started!
*offer valid until midnight on 28th February