Get instant insights into 3m UK companies
Get instant insights into 3m UK companies

company credit check: why they are vital to protect your business

Best credit checks: what should a good credit report tell me

As a business, it is highly likely that you are offering some form of credit to your customers – this will usually be a 30-day payment terms but can in some sectors be as much as 180-days so due diligence into this area is vital. In order to set agreeable and achievable payment terms for both parties, there needs to be a credit risk monitoring assessment of the ability of your customer to pay you. There are several areas that need to be looked at – previous trading history, the presence on any detrimental data and the overall financial health of the customer’s organisation. However, one of the most reliable ways of ascertaining the correct level of credit you are offering is to run credit checks on all your customers and new business partners.

There are many credit reference agencies that can do this for you with varying payment models and levels of reporting. Be mindful that some of these can be costly and take time. identeco’s Business Support Toolkit works differently – our subscribers pay one annual subscription fee of £79.95 which enables all subscribers to credit check a business or company and view results immediately.

Need a credit score for business, sole trader, partnership?

We don’t just offer credit reporting on UK limited companies; As a subscriber to identeco’s Business Support Toolkit, subscribers can run a credit check online for up to 1.6 million non-limited businesses that operate in the UK as well as over 3m UK limited companies. This credit referencing service will tell you to overall financial stability and present an overall a credit score for that business- with a credit rating ranging from gold through to a series of flags, as well as a brief narrative to tell you why the business has been rated this way. We will advise of a suggested credit limit and give an insight into creditor days – the average timeframe in which a business settles its debts (an important consideration when running credit checks on a customer).

Should you require a more detailed credit reference check for a sole trader, consumer or partnership, these are available to our subscribers via our Customer Screening Toolkit. To view an example of these reports and see our competitive subscriber rates, please click here

How can identeco’s Business Support Toolkit help me?

identeco’s Business Support Toolkit is so much more than just a credit reference agency – all our subscribers have access to up to ten year’s financial reporting, insight of any detrimental information on a company – should it exist, and details of directors and shareholders for the organisation. In fact, there are ten services available to subscribers – all for one annual payment of £79.95 + VAT, with a further twenty business services at preferential subscriber rates. To see what is included in your annual subscription, click here.

To view a company credit file and understand their financial stability, subscribe today and start your search immediately – protecting your business against unnecessary risk.

Not sure if a subscription is for you? Then why not use our free trial service? A free, no obligation 48-hour trial to enable you to try all the services within our Business Support Toolkit.

Obtain a sample report or try the 48hr free, unlimited trial before you subscribe

Sample Report Free (48hr) Trial Subscribe Now for £79.95