Business Credit Reports in South Africa: What to Look For
What kind of information will typical Business credit reports in South Africa contain? Firstly Business credit reports will contain similar information to that found in a personal credit report. Business credit reports are designed to help you make smart financial decisions regarding the growth of your business. One of the most important factors is the content of a Business report, its vital that you as a business owner are able to interpret what it is that the report reflects.
A standard Business report should contain the following.
- Company details.
- Combined principal credit score.
- Principal information.
- Principal bureau data.
- Auditors information.
- Address of registered office.
- Commercial judgments.
- List of associated companies linked to the principals.
- Company property information including ownership and bond details.
- Addresses of principals.
- Previous inquiries.
In the same way that your personal credit history changes, so too does your companies history, therefore companies should also take note of their own businesses credit history as it can help when applying for credit.
Business Credit reports are a must have tool in this day and age and they will definitely help your business to thrive and for you as the business owner to make the correct decisions about who you choose to engage with. Regardless of the size of your company, using business credit reports will help you to make smart and informed financial decisions regarding the growth of your company.
I-Check Data Solutions has an affordable Business credit reporting service, for as little as R 99 ex vat. You can get access to all the information you require to make the right decisions. If you would like to know more about this service or our other verification products please do not hesitate to contact one of our friendly sales teams today!