Finding Strong Small Businesses to Work With

Every business wants to grow, but when your business involves providing credit terms or delivering goods and services before payment, it can be tricky to determine which businesses to work with and which to decline.  Historically, some large corporations have been wary of taking on small business clients who can be notoriously hard to evaluate due to having little or no information available on their credit files. Also, small businesses tend to be a volatile group – 49% fail in the first 5 years of operation. 

So, what’s the best way to find solid small business customers?  We recommend a 3-fold approach –

  • Use blended data – a combination of business data and personal data on an owner or principal.
  • Incorporate automated decisions that automatically approve accounts that meet your credit policy criteria and decline those who don’t. Manual review is reserved for middle-ground accounts, which saves you resources.
  • Regularly monitor the health of our client portfolio with scoring and alerts.

Learn more by downloading our whitepaper with , “A Widening Focus, Setting Your Sights on Growth Companies.”