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ACCOUNTANTS Begbies Traynor has launched a health rating system of businesses to flag up potential problems for clients or prospective business partners.

The Red Flag Alert has been used as an internal resource for the past five years by Begbies which specialises in insolvencies and includes a Liverpool office in Old Hall Street.

But the service is now available to subscribers who will be able to access information on more than 6m constantly updated records of businesses throughout the country looking at sales, credit control, collection, risk and compliance.

It is aimed at protecting firms from bad debts and failing suppliers on a sector or regional basis.

Its credit scoring provides a 'health rating' system able to identify bad payers and bad risks.

Recent Red Flag statistics point to a worsening in insolvency rates, with about 130,000 companies showing "significant signs of financial distress" in the third quarter of 2009.

Chairman Ric Traynor said: "Red Flag Alert is the most comprehensive database of its kind, with millions of records on every business in the UK, from sole traders through to limited and quoted companies."
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Publication:Liverpool Echo (Liverpool, England)
Date:Dec 8, 2009
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