News
Figures show that SME’s lack business investigation
03 July, 2009
According to a recent report there is a huge lack of investigation by SME’s into the companies they do business with.
Director at advisory firm Tenon Recovery Mr. Martin Austin, commented that these types of operators should demand management accounts themselves rather than contacting Companies House for the documents. His statement came shortly after the publication of a Graydon UK report revealed that 1.8 million SMEs have poor credit ratings.
The same analysis had found that some 60% of the 3 million businesses studied were high risk or above the normal threshold, with 13% being valued as low risk.
The organization felt that while the recession was partly responsible, there was a lack of information relating to finance performance that was also having an effect.
Mr. Martin Williams felt that politicians were claiming that they were supporting business by reducing the red tape burden associated with filing company accounts, but that all the current system was achieving was to strangle the flow of credit. He further advised that SMEs share information wherever possible.
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