Experian urges SMEs to check their own business credit scores
Experian has advised small and medium sized enterprises (SME) in the UK about the importance of actively monitoring and managing their own business credit scores to put them in the best possible position to secure credit, business loans, tenders or business services.
According to the company, using commercial credit scores enables businesses to manage the risks of not getting paid, losing a vital supplier or becoming a victim of fraud.
An independent survey of over 500 UK SMEs revealed that over half recognise the importance of checking a customer or supplier's commercial credit score, but only 28% think it is important to check their own commercial credit score.
Simon Streat, Experian's head of SME for UK and Ireland, said: "Our analysis has found that 56%
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