Small Business

Your small business is like a person; it needs credit to succeed

Posted on Aug 03 2011 by

You’ve got a great idea, the capital and the know-how to make it happen. Yet entrepreneurial success also depends on something else many small business owners don’t pay enough attention to: your business credit profile. Here’s a tip! Just as your personal credit rating has a big impact on your financial health, your business credit […]

Commercial Collecting on a Dime

Posted on Jul 27 2011 by

When you’re on a tight budget, you definitely want to get the best bang for your buck. One way to do this is to evaluate your commercial collection process. For instance, start with deciding which accounts you go after first. By prioritizing your collection efforts, you’ll save a lot of time and recover your money […]

When was the last time you reviewed your credit policy?

Posted on Jul 26 2011 by

Credit policies are like a plant grown from a seed. They need regular review and attention just like the plants in your garden to really bloom.  A credit policy is simply a consistent guideline to follow when decisioning accounts, reviewing accounts, collecting and setting terms.   A couple of key items to consider in reviewing  […]

Explaining Experian’s Corporate Hierarchy Linkage – Part 1

Posted on Jul 22 2011 by

In prior posts I have discussed Experian’s data model and how the data model allows us to keep our commercial file up-to-date and accurate.  Today, I’ll explain how we leverage our data assets and technology infrastructure to make Corporate Hierarchy Linkage available to customers.  I’m sure no one will be surprised to hear me say […]

Google+ and mobile for the SMB.

Posted on Jul 21 2011 by

In the past month there have been two  Google services that I’ve been keeping an eye on.  First was Google+.  I’m happy to say that I’m one of the 18 million users on the newest social media network.  The first week it came out, I was asking everyone I knew for an invite!  I was […]

What drives a business credit score?

Posted on Jul 20 2011 by

You may be familiar with your personal credit score, but do you know what factors drive a business credit score? The top three are trade, trade, and more trade information. You see, the number and percentage of trade credit lines that are considered delinquent or severely delinquent can have a major impact on your business’ […]

Fraud and identity theft can affect your business too.

Posted on Jul 19 2011 by

We’re all aware of the increasingly bold moves fraudsters take to steal personal identities to secure jobs, cars, homes and more—but what about business-to-business fraud? As a small business owner, how much thought do you give to fraud protection for your business? You have a lot to fear and even more to lose if you […]

Where did all the “optimism” go?

Posted on Jul 15 2011 by

Ok, that is a loaded question. We can take a look at many things, and say, “yea, with all the bad news coming out, of course small business owners are losing confidence”.  The NFIB confirms that with their latest report. Reasons cited?  What else….inflation fears brought on by higher gas prices, and high unemployment.  But wait […]

What’s your level of exposure in the event a disaster affects your accounts?

Posted on Jul 13 2011 by

Last time, I wrote about the importance of understanding your portfolio’s exposure. Let’s get a little more specific and evaluate things from a disaster perspective.  FEMA reported that there were 81 declared disasters in the U.S. last year. This year, we’ve already experienced 50 disasters. According to the American Red Cross, “as many as 40% […]

Custom versus Generic scorecards? That is the question.

Posted on Jul 11 2011 by

One of the most frequently asked questions posed to me by clients is: Do I need a custom scorecard? To answer that question, let’s first start with the benefits of a custom scorecard (or model).  Here are a few of the best things about a custom scorecard: 1) Increased model performance. Typically a custom scorecard […]