Understanding and improving a business credit score is key to navigating the economy they operate in.
A business credit score measures a business’ creditworthiness and is made up of a number of factors, including payment history and file full accounts.
Maintaining a good score helps businesses secure better investment opportunities.
It enables small businesses to access better financing opportunities that drive expansion and innovation, enhancing their overall credibility.
The benefits of a good business credit score
A strong business credit score brings numerous benefits:
Access to financing: Lenders use business credit scores to assess the risk of lending to a company.
Building trust with suppliers: Suppliers and vendors often check business credit scores before extending trade credit.
Attracting investors: Investors look at business credit scores as part of their due diligence process.
Negotiating better terms: A good credit score can give businesses leverage when negotiating terms with lenders, suppliers, and even customers.
Several factors influence a business credit score:
Payment history
File full accounts and update information
Applying for credit
Use business finance and open a business account
The benefits of using a good business credit score include access to financing and better terms.
It enables small businesses to achieve their short and long-term ambitions, opening-up new opportunities.
Duke Capital Limited (LON:DUKE), formerly Duke Royalty Limited, is a Guernsey-based provider of hybrid capital solutions for small and medium-sized enterprises (SME) business owners in the United Kingdom, Europe and North America, combining the features of both equity and debt.
