63% of Businesses never check the creditworthiness of new customers
A survey conducted on this web site indicated that a staggering 63% of businesses never check the creditworthiness of new customers.

The survey of 700 businesses indicated that there is a lack of connection between the sales and credit management functions within businesses. Without up to date information on the business performance of potential customers, businesses are exposing themselves to unnecessary risk when granting trade credit.

Stephen Lewis, BPPG member representing the Credit Services Association, commented: “This is a very worrying statistic. A sale is not a sale until it is paid for. Businesses must do more to practise sound credit management and credit checking is a fundamental first step in controlling the financial risk of late payment. The information is inexpensive and readily available and we urge all businesses to use the sources open to them.”

Businesses wishing to learn more about credit checking can find out more on this web site. Simply type ‘creditworthy’ into the site search engine for details of all the sources of information available.

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