Do small businesses need to subscribe to Dun & Bradstreet or similar services to know their business credit score?
This is always a good idea. You should review your credit rating quarterly and correct any errors. If you have good credit that is not shown on the report, speak with a credit representative and provide additional credit sources to be added to your report. Go to annualcreditreport.com for a free report of your personal credit rating. The rating agencies are Equifax, TransUnion and Experian. Each allows one free report per year. I have many small business clients who have problems with collections. Not that their customers aren’t going to pay–they just take 60 or 90 days. How can a small business with little leverage over clients speed the cycle? Being successful as a small business owner requires a high level of confidence. This inner confidence is critical when discussing price and payment terms. Those that lack confidence will sell below market price and fail to discuss terms. Price and terms are both components of the sales discussion. It may be to your advantage to run a D&B report
