| Government urged to re-think on micro-business plan |
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The Institute of Credit Management (ICM) has launched a petition to prompt a Government re-think on their plans to exempt micro-businesses from having to file accounts at Companies House. The ICM recently polled their 8000 members on whether they would lend credit to a customer placing a “relatively small order” whose accounts were not available to check at Companies House or via a credit reference agency. Nearly 37% would not approve the order for immediate supply and would insist upon cash in advance; 15% would accept the risk while 48% would ask the customer to provide financial data to support their application. The findings support the ICM’s view that businesses should be prepared to supply more information, not less. To support the survey visit: |
