Equifax launch range of business reports designed to help small and new companies do business.

As business failures rise in 2006, Equifax launches a range of new business reports that take the mystery out of dealing with new and small businesses London, 1st March 2007 - Leading consumer and business information expert, Equifax, has launched a range of business reports designed to help small and new companies do business. Government figures show that every year 500,000 new businesses start up but that 300,000 of them will fold within 3 years. And the latest business failure figures from Equifax show that in 2006 4% more businesses failed than in 2005.

A key reason for new and small businesses finding it difficult to succeed is the fact that there is limited information available on their creditworthiness for larger companies to access.

These potential suppliers and customers, therefore, choose not to do business with small and new businesses, creating a whole community of financially excluded organisations.

Equifax believes this small business financial exclusion is severely impacting the growth of the UK economy as a whole and has, therefore, developed its unique range of business reports, which tackle the problem by combining business data with personal credit information for an organisation's directors or owners.

Gary Powell, Head of Business Information Services at Equifax explains: 'It is well proven that the way a director or owner of a small business runs their personal finances is indicative of the financial stability of their business'.

'Our new reports therefore capitalises on the combination of this valuable knowledge to give corporates and large companies the confidence to trade with small and new businesses'.

''As a result, we firmly believe it will open the doors for the development of these businesses - and the UK economy as a whole'.

With their consent, directors' and business owners' personal credit data can now be taken into consideration when their business is being assessed as a potential business partner'.

'This data, when combined with Equifax business information, gives a much greater insight into an organisation's financial situation, its stability and growth potential, and will enable more informed and confident decisions'.

'The power of Equifax's consumer data can now be used to create new opportunities for start-ups in the UK, while reducing risk for more established companies', confirmed Powell.

'And we believe the directors or owners of new and small businesses should be happy for potential partners to view their personal credit information if it makes the difference between them winning a contract or not'.

'Our new reports mean large and small businesses can build relationships with each other, encouraging growth in the UK economy as a whole'.

'Up until now it has been very hard for new and small businesses to develop working relationships with larger companies, stopping them from getting better credit limits'.

'Similarly, big companies will be able to expand their supplier and customer base to include small companies, with the minimum risk of bad debt'.