Personalized Christmas Online » augustuswe19 http://www.personalizedchristmas.net ... everything about Personalized Chrismas! Wed, 21 Nov 2012 22:03:34 +0000 en hourly 1 http://wordpress.org/?v=3.1.4 Business Credit History – A Modern Day Prerequisite http://www.personalizedchristmas.net/business-credit-history-a-modern-day-prerequisite_186633.html http://www.personalizedchristmas.net/business-credit-history-a-modern-day-prerequisite_186633.html#comments Mon, 20 Aug 2012 13:45:29 +0000 augustuswe19 http://www.personalizedchristmas.net/?p=186633 Based on the Creditsafe Group:? An increase has been seen by 91% of UK companies in defaulted funds from collectors in the last 12 months?? Three quarters (74%) of UK firms are concerned about their exposure to bad debt?? 4% of UK companies are expecting payment of at least A100,000 from creditorsThese statistics show the severe character of the U.K’s existing situation. Taking into consideration that the Insolvency Service data inform us that over 19,000 firms were liquidated in ’09, the picture becomes even clearer, showing the damage caused by the financial crash, but in addition the fallout from poor business practice.The cost of bad debt to UK firms continues to go up, with an increasing tendency of late payment and bad debt making the need for company credit checks more crucial than ever.Considering the current environment, it’s important that you examine who you are doing business with; confirming that they have the resources and credibility to be able to pay for your goods or services.Company credit checks are just, sound business practice, making certain that that your company does not endure because of a customer’s inability to pay the agreed amount.Alternatively, company credit checks are becoming an important supply of data for competition analysis, providing precisely business efficiency, directors and shareholders.In the past, customer acquisitions depended upon price, quality and company, rarely taking into consideration a company’s past activity and credibility. More recently, research has suggested that the recession has transformed this attitude, leading to customers seeking an organization credit report considerably earlier in the purchasing cycle, sometimes, long before any commitment is made.Understanding and reducing risk is fundamental to your business. Keeping informed of any changes to their reputation is the only method to develop your customer portfolio without increasing your risk exposure. Knowing a customer or prospects’ long term company possibility is important.

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