Entrepreneurs and small business owners carefully scrutinize every decision, down to the cost of paper clips. But, ironically, many neglect to vet the biggest potential source of risk to their business – their own customers and clients. Even just one non-paying customer has the potential to sink a company.
Small businesses would do well to take a lesson from their corporate brethren and avail themselves of the business credit report. This fundamental financial tool is packed with information that can help a small business owner mitigate risk and make smarter business decisions because he or she will have access to up-to-date intelligence on current and potential customers. And, as many entrepreneurs are learning, business credit reports are no longer the domain of only the corporate world.
Long a staple of major corporations, business credit reports are increasingly being used by small businesses and entrepreneurs.
Read the full article on Forbes: Small Businesses Vet Their Paper Clips More Carefully Than They Vet Their Customers