Excuses to Not Check Business Credit Reports
Commercial credit checking is becoming commonplace in today’s fast-paced business environment. Although the economy is in recovery and on the upswing, uncertain times lie ahead with the tumultuous Presidential election still fresh in our memories and the full impact of the Brexit decision having not yet been realized. Keeping your business safe has now become more crucial than ever, and regularly checking business credit is a key component of your company’s financial stability. Despite the fact that checking your customers and suppliers is now considered routine best practice, there are still some holdouts that rely on reputation and a handshake for their credit management process. Now, this reluctance may be the result of not knowing enough information about business credit checking or thinking business credit checking is too expensive. While individual circumstances may be different, following are the top 5 reasons we’ve encountered for businesses not incorporating business credit checking into their standard credit control practices.
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