How to Improve Your Business Credit Score
Your business credit score affects your ability to secure finance and the rates you pay. Here is how to improve it.
Your business credit score is a critical factor in securing finance. A good score can mean better rates, higher LTVs, and faster approvals.
What Affects Your Business Credit Score
- Payment history with suppliers
- Existing debt levels
- Company age and filing history
- County Court Judgments (CCJs)
- Director personal credit history
- Industry risk profile
How to Improve Your Score
1. Pay on Time
Late payments are the single biggest negative factor. Pay suppliers and existing credit facilities on time, every time.
2. File Accounts on Time
File your Companies House accounts and confirmation statement on time, every year.
3. Reduce Existing Debt
Lower your debt-to-income ratio by paying down existing facilities where possible.
4. Check Your Credit File
Regularly check your business credit file with Experian, Equifax, and Dun & Bradstreet for errors.
5. Build a Track Record
The longer your business has been trading with a clean credit history, the better your score will be.
Could this apply to your business?
Speak to a specialist about your own circumstances — free, no obligation.
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This article is published for general information only and does not constitute financial, tax, accounting or legal advice, or a recommendation to apply for any product. Any rates, LTV ranges, fees, timelines, tax rules or government schemes mentioned are indicative and reflect general market norms at the time of writing; they may change and should be confirmed with a specialist before acting. Read our editorial policy to see how we produce and review our content.