Nearly two thirds of UK small firms are carrying a credit rating
which may negatively affect their ability to obtain finance,
according to new research from credit risk management agency
Graydon UK.
Using its credit scoring rules, Graydon UK calculated that 60
percent of the three million SME businesses analysed were assessed
as being ‘high risk’ or ‘above normal risk’, in terms of defaulting
on trade payments or getting into financial difficulties.
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The research also revealed that only 13 percent of the companies
reviewed were awarded ‘low risk’ ratings by Graydon UK.
Last May, Graydon UK announced a partnership with Validis, a
web-based business accounting data specialist, to launch a new
credit information service for SMEs this summer.
Companies using the service will benefit from assessments of
their financial strength and viability by banks, lessors, factors,
credit insurers, invoice discounters and ratings agencies being
based on validated up to date monthly management accounts.
Jason T Hesse
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