“Pay as You Go” Credit Reports Gives Small Businesses a Valuable Safety Net From only £1

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In late 2004 £1.6Billion was owed to UK businesses in late and unpaid debts, equating to some £1,500 owed on average to every business1. Quick Formations, a company that has won a number of prestigious national business awards for the way in which it shook up the company formation industry, is launching a new credit-referencing business tool that costs from just £1. The new service will help company owners who want to make sure new clients and the people they do business with are financially stable.

In late 2004 £1.6Billion was owed to UK businesses in late and unpaid debts, equating to some £1,500 owed on average to every business1.

Quick Formations, a company that has won a number of prestigious national business awards for the way in which it shook up the company formation industry, is launching a new credit-referencing business tool that costs from just £1. The new service will help company owners who want to make sure new clients and the people they do business with are financially stable.

Historically businesses have had to sign up to an expensive, minimum 12 month, contract with a credit referencing agency but now Quick Credit Reports has launched a ‘pay as you go’ style credit referencing service. The new service is updated daily, includes all UK and overseas companies, operates 24 hours a day, 7 days a week and costs from as little as £1 for a pre-sale report through to £14 for a full company report that includes a risk rating and suggested credit limit.

The managing director of The Quick Group, Richard Osborne, said, “Many startup businesses are too focused on just getting the order with little regard as to whether their new customer will actually pay them or not, or may ask for a too low deposit. A report that takes a minute to run and costs such a relatively small amount can then give them the necessary information to make an informed decision about how reliable this new customer actually is”.

The new service is already attracting clients from across the UK and its wider benefits such as analysing competitors and assessing potential acquisition targets are proving popular.

Quick Credit Reports was seen as natural progression for the Quick Group as they aim to offer services that would be of significant help to the new businesses that start up through its award winning sister company, Quick Formations Ltd.

Quick Formations launched in 2002 and is now one of the UK's leading online company registration services and has won several business awards along the way including:

  •     Customer Care and 2 x “Highly Commended” for Best Sales & Marketing and Best Use of Broadband in the Ecommerce Awards 2005,
  •     Innovation award as well as Entrepreneurial Business of the Year from Northamptonshire Chamber of Commerce,
  •     Finalist in the Parcleforce Startup Awards 2005,
  •     2004 East Midlands E-Commerce Award,
  •     Finalists in the National Business Awards 2004
  •     2 x “Highly Commended” awards in the Northamptonshire Business Excellence Awards in 2004.

ENDS

Editors Notes

For further information contact: Richard Osborne – 0870 432 5544 or, Andy Barr – 10 Yetis PR & Marketing, 07743057458, 01452 300683.

Journalist quiz; the first journalist to send the correct answer by email wins a small prize.

On this day in history (March 7), a fire destroyed the roof of which famous UK Palace?

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Andy Barr
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