Improving a business credit score takes time and effort. Here are some strategies:
Pay Bills on Time – Ensure all invoices, taxes, and credit payments are made on time.
Monitor Credit Reports – Regularly check your business credit report for errors and correct any discrepancies.
Reduce Debt Levels – Maintain a healthy credit utilisation ratio by managing debt efficiently.
File Accounts Promptly – Submit annual reports and financial statements on time to Companies House.
Avoid Legal Issues – Stay clear of CCJs and other legal disputes that may damage creditworthiness.
Diversify Credit Sources – Having a mix of credit accounts, such as trade credit and business loans, can positively impact scores.