"If the government did default then there was a strong probability that interests rates would spike," said Gordon Basichis, Corra Group Co-Founder. "If interest rates go up, higher costs of doing business might lower the demand for goods and services."
El Segundo, CA (PRWEB) October 23, 2013
Corra Group has ramped up its business research services in anticipation of increased business activity now that the federal government has been reopened and the debt ceiling controversy has been at least temporarily resolved. The El Segundo based company expects both corporations and smaller businesses to try and close deals before the next financial crisis.
"Our clients told us they were putting deals on hold until the latest political crisis in Washington had been resolved," said Corra Group Co-Founder, Gordon Basichis. "The closing of the government and the growing concern that the federal government was going over the cliff and defaulting on its loans created enormous uncertainty. There was so much speculation, it just made people nervous.
"If the government did default then there was a strong probability that interests rates would spike. And if interest rates went up the higher cost of doing business might lower the demand for goods and services. Deals in place, such as partnerships, mergers, and co-ventures, are suddenly not as viable as they were a couple of months ago. They can fall by the wayside."
Basichis noted he is seeing an increase in demand for corporate credit reports. He pointed out how private equity and venture capital groups are performing increased due diligence not just on the business entities but on the relevant principals as well.
"Corra Group will provide business credit reports, which help determine the relative solvency of a company. But such background checks, such as county criminal records searches and county civil records searches, help reveal the personal histories of the responsible senior executives. With any financial transaction, federal criminal records searches, and federal civil records searches are an absolute must.
"Unlike the more straightforward employee screening programs offered by most companies, Corra Group will conduct extended year county criminal records searches and county civil records searches," said Basichis. "We will go back as many years as the counties will allow, and when there are records that require more granular examination, we will pull the file copies for our clients."
Basichis pointed out that when necessary Corra Group has partnerships with professionals who can investigate for money laundering and financial malfeasance. "There are times when we have put people on the ground for greater scrutiny," said Basichis.
The Corra Group Co-Founder explained he saw in increase in business research activity, because different entities are trying to resolve their respective deals before the next financial crisis.
"Clients realize that the next debate on the debt ceiling and the incumbent risks involved in that debate are just a couple months away," said Basichis. "This is a window of opportunity to get your business done. But if you move too fast and don’t perform adequate due diligence, then you can find yourself in a world of trouble. To be successful, you have to move face but tread carefully. With our business research programs, we help our clients make the right moves."
Corra operates as Corra Group and specializes in pre-employment and corporate research and investigation. It is a full service employment screening company that offers the full range of background checks and business research to industries throughout the United States and around the world. For more information check out its website at http://www.corragroup.com.