The Federation of Small Businesses has endorsed a new credit information service for SMEs from commercial credit agency Graydon UK and web-based business data specialist Validis, saying it will help firms needing finance. The companies say the new initiative will allow SMEs to seize greater control over the information provided about them to prospective creditors by credit reference agencies, and that this will improve their access to finance and credit insurance cover:  Stephen Alambritis, FSB head of public affairs, says: “Graydon and Validis could not have come together at a better time to provide such a ‘must have’ service for the UK’s 4.7 million small businesses.

The new service, expected to launch in the summer, will be based on real-time company financial information. Assessments made of a business’s financial strength and viability will be based on validated up-to-date monthly management accounts.  Source: Press Coverage

BIIA Newsletter June 2009 Issue