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When you start a new collaboration, contract a new supplier or get a new customer, it is crucial to watch for warning signals. A simple look can significantly reduce the risks of future credit losses.
If the company you intend to do business with has a post office box, you should check whether the company has a proper business address. An active company always has at least one workplace. If the company operates at different addresses, they may have several workplaces. If there is no business address registered to a company that has a post office box, it may be an indication of something shady and you should double-check them.
• Payment defaults
• Late annual reports
• Audit remarks
• Negative trend on key ratios
• Incomplete board of directors
• Company signatory with general power of attorney
• Board members who have been involved in multiple bankruptcies
• Several changes of board membership in a short period of time
• Newly started company or company recently taken over
• Missing or hidden phone numbers