BUSINESS SUCCESS WRITTEN IN THE STARS
self-styled financial ‘experts’ struggling to pick a good
financial bet these days, perhaps it is time to turn to the stars.
Analysing their universal data-base of 2,851,222 companies, Creditsafe, the business information experts have identified
surprising trends, with the star sign of a company’s secretary
providing a surprisingly accurate guide to reliability when making
and collecting payments.
If it is a quick payer you’re after, turn to a business whose
company secretary is a Leo. The generous, dignified Leos stick true
to their astrological description, on average clearing debts within
30.48 days, almost a week quicker than the overall UK average of
36.84. What’s more, Leos are the only star sign to pay their debts
more quickly than they collect them, clearly adhering to the proud,
noble side of their personality.
Scorpions, known for their analytical, inquisitive qualities are
perhaps spending too long reviewing the invoices. They take
the longest to clear their debts at 50.78 days; that’s 37% longer
than the average, and a very considerable 66% longer than the Leos.
When it comes to
collecting debts, Scorpios stick more to their jealous and
controlling traits, ensuring payment is made within 20.7 days,
nearly 5 days below the average of 25.33. Once again it’s the
Leos who are slowest to collect payment, taking an average of 34.19
days, nearly 2 working weeks longer than the average of 25.33.
While only Leos pay their debts quicker than they clear them, some
star signs are likely to push their luck far more than others. The
gap between debtor days (the time taken to collect payment) and
creditor days (the time taken to make payment) is less than 1 for
the sympathetic, sensitive Cancerians. Prudent, businesslike
Capricorns, however, take 17 days longer to pay their debts than
Simon Camilleri, Managing Director, Creditsafe UK, said:- “Our
research has thrown up some really surprising results with star
signs seeming to be a pretty good indicator of a company’s
However, a far better way to ensure the reliability of
a potential trading partner or client is to research their credit
rating, and check the number of debtor and creditor days to their
Late payment can have a serious impact on a company’s liquidity,
particularly if it’s a small business, affecting its ability to pay
staff, clear its own debts, and ultimately remain solvent. Given
that, it’s vital that businesses do the necessary research before
signing themselves into potentially damaging trading relationships. And that research needn’t be as speculative as gazing to the stars!"
Star sign analysis based on Company’s Secretary Date of Birth
Average Debtor Days
Average Creditor Days
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tell us what you think of these findings!
URGES USED CAR DEALERS TO PREPARE FOR NEW DIRECTIVE
WITH the new Unfair Commercial Practices Directive being
introduced later this month, Experian®, the global information
services company, urged used car dealers to ensure that they take
the necessary steps to prepare for its arrival.
The new directive seeks to harmonise unfair trading laws in all EU
Member States. If a company fails to provide information that the
average consumer would need to make an informed decision, under the
directive this is classed as a breach and could lead to a fine and
possibly up to 2 years in prison.
In terms of the used car market, Experian predicts that the new
directive is likely to put even more pressure on dealers to ensure
precautions, such as vehicle provenance checks, are undertaken.
According to Experian, the directive’s scope is even more relevant
for used car programmes. Dealers must ensure that they fulfil the
promises made by the manufacturers, otherwise both the dealer and
the manufacturer could be held liable.
Kirk Fletcher, Managing Director of Experian’s Automotive division,
said:- “The scope of the new directive is still unclear and
open to interpretation, so the full impact on the automotive
industry is yet to unfold. However, we strongly recommend that
dealers need to make sure that customers are provided, in a clear
and transparent fashion, with all the information about a vehicle’s
status. Given that our own research has shown that consumers are
willing to pay more for peace of mind, it simply underlines the
importance of ensuring critical information is provided at the
outset so customers can make an informed decision.
This is especially vital at a time when there is increased media
attention on protecting consumers from rogue dealers. Already this
year we have seen an increase in the number of stories hitting the
press about dealers getting fined for selling clocked cars.
Furthermore, during last year the biggest source of consumer
complaints was the used car sector.”
To help dealers provide clear information for their customers,
Experian’s recent developments to its services include:
AutoCheck Timeline - a unique feature enabling dealers to
instantly view all the events that have affected a vehicle from the
moment it was registered in a clear and easy-to-view chronological
timeline. This includes details of the vehicle’s MOT anniversary,
whether a car has ever been stolen in its lifetime, the date it was
stolen and when it was recovered, and any other significant
Reports - a free addition to AutoCheck providing the CO2
emission data on a used vehicle and the Vehicle Excise Duty payable
over a period of either six or 12 months.
Kirk concluded:- “Our new service innovations combined with
the pending arrival of the directive has seen even more interest
from clients who want to ensure that they are armed with information
that not only ensures that they protect themselves, but also helps
them make that sale.”
Quakers on the roof!
THE snap of the week is of these
ducks on the roof of a building in Formby. If you see any funny
things going on, then please send them in and we will try to run
them in the next issue. So get snapping and email us at