Credit Checks: How can they help exporters?

Date: 09/04/2019
Author: GMCC
Company: GMCC

Trading overseas can considerably increase the opportunities for a company. However, it also increases the risk and can lead to difficult and unfortunate situations.

According to Bibby Financials’ 2017 research, the average annual debt written off by SME’s is £20,403, a rise of 70%, that is to say, a business is at risk of not being paid due to its client going bankrupt. That’s why conducting financial checks on your customers or suppliers before providing credit is of utmost importance.

To prevent this situation from happening, the Chamber offers a UK and international credit check service. We can provide an in-depth financial risk report of a company you’re looking to do business with in the UK or overseas, so you can better assess and manage business risk.

The report includes all the important data such as: company details, credit risk rating, corporate data, financials, legal notices, directors, payment profile and banking information.

The report will be delivered within five working days (sometimes earlier) and prices start from £20+VAT for UK reports and £50+VAT for international reports.*

For more information, please email us at exportbritain@gmchamber.co.uk or call 0161 393 4368.

*Please note that the Chamber is unable to offer refunds for reports that are unable to be processed due to the company not existing.