MOST NEW BUSINESSES AREN’T GIVEN AN EXPERT HELPING HAND
Equifax Blended data could be the key to helping small businesses succeed
London 18th July 2007 – Not all small businesses have access to funding and expert advice from the likes of entrepreneur Peter Jones, currently featuring in ITV1 Tycoon. In fact, the reality is that between 300,000 and 500,000 of UK business start ups fold within three years and one of the key reasons for failure is that new and small businesses have little background information available for larger companies to use to check them out. “It’s a bit of a chicken and egg situation” confirmed Neil Munroe, External Affairs Director of leading business information company, Equifax. “New businesses don’t have much history – so larger businesses are less inclined to give them orders or credit. But without those orders, the new businesses can’t grow.”
Equifax believes this small business financial exclusion is severely impacting the growth of the UK economy as a whole and has, therefore, developed its Blended Data Reports, a unique range of business reports, which tackle the problem by combining business data with personal credit information of a business' directors or owners
This combination of consumer credit information and business data can help provide a greater insight into a business’ financial stability and growth potential, no matter how new or small, giving other companies more confidence in dealing with them. And by developing working relationships with larger companies, small and new businesses can often get better credit limits and start to expand their supplier and customer base.
“Britain is bristling with budding entrepreneurs, but many are missing out on the opportunity to grow and develop” concluded Neil Munroe. “The fact is not many businesses can get free advice from someone as successful as Peter Jones, as well as thousands of pounds of funding to get their idea off the ground. That’s why Equifax Blended Data Reports can make a real difference by giving a new business the chance to prove its real worth.”
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To arrange an interview with Neil Munroe please contact either Claire Foster, Kate Clements, Elinor Puzey or Louise Fowler at HSL on 0208 977 9132 or email claire@harrisonsadler.com
About Equifax
Equifax Inc. is a global leader in information technology that enables and secures global commerce with consumers and businesses. We are one of the largest sources of consumer and commercial data. Utilizing our databases, advanced analytics and proprietary enabling technology, we provide real-time answers for our customers. This innovative ability to transform information into intelligence is valued by customers across a wide range of industries and markets. Headquartered in Atlanta, Georgia, Equifax employs approximately 4,600 people in 13 countries throughout North America, Latin America and Europe. Equifax was founded 107 years ago, and today is a member of Standard & Poor’s (S&P) 500® Index. Our common stock is traded on the New York Stock Exchange under the symbol EFX. .
Equifax. Information That Empowers.
