Having a healthy credit record and rating for your business is absolutely vital in these difficult economic times where the amount of money available to borrow is in short supply. Being able to prove that your business is able to pay its financial commitments is imperative when banks are making lending decisions. It is also important to remember that it is not just banks who lend money - every time you (or a supplier) extend credit they are effectively lending money and you need to be sure that if you extend credit to anyone that you will get paid.
