Small businesses are unaware of significance of credit checks

Small businesses are unaware of the significance of credit checks, according to research published by Experian. Nearly three quarters of small businesses do not check their customers' credit status before doing business with them, which means they risk not being paid or being paid late.

The study also found that 31% of businesses do not know what a credit score is, and 61% have never checked their own score. Experian warned that managing their credit score is important to small businesses, as a low score may affect a firm's ability to access finance and attract new customers.

There is more on this story at:
http://press.experian.com/United-Kingdom/Press-Release/
seven-out-of-10-uk-smes-risk-doing-business-in-the-dark.aspx