The offer coincides with the start of the new financial tax year.

According to the company, the reports, which usually cost around £20, provide a detailed breakdown of a client or supplier's financial health. They also signal if any other ICSM members have encountered payment problems.

ICSM owner Ian Carrotte said: "Credit reports on customers and suppliers provide companies with a clear financial picture that enables them to plan and implement growth strategy safe in the knowledge that their cash flow is safeguarded,"

The west country-based company also recently launched its International Report Service that provides live data on companies from 19 countries including the Czech Republic, France, Greece, Iceland, Italy, Spain and USA and upgraded its database to handle complaints about non-UK ‘problem customers’.