More than 207,000 small businesses in Spain were forced to close after the first wave of the pandemic. Unfortunately, this number has continued to grow over the last year. To reduce this number and thus support local businesses, Wenalyze has developed the BCR indicator (Business Continuity Rating) indicator for small businesses to detect risk situations in advance and take measures before they close.
At Wenalyze, we believe in innovation as an engine to help SMEs. Thus, today we want you to know the process behind the creation of the BCR indicator, as well as the benefits of implementing it in your company’s strategy.
What does the BCR consist of?
The BCR is a risk indicator for companies. It analyzes different variables of a business, including macroeconomic data and, on the other hand, indicators developed by the Wenalyze team.
After analysis, the BCR classifies companies into 4 different risk types: low, medium, high, and very high. In this way, small companies can take measures in time and thus anticipate catastrophes and closures.
Data as the solution
The data that our platform analyzes with the BCR is varied to provide accurate results regarding the company’s risk. The result is the development of a platform for companies to identify risks by simply inserting the VAT number and the province. It will indicate the level among those established.
From the Wenalyze team, we have developed this indicator thinking about local businesses in Valencia, considering the large number of businesses that for us were “always” there and have been forced to close. In this way, we do our bit and help our traditional stores.
Our project with the BCR indicator has been developed thanks to the help of the Valencia City Council. As we mentioned in previous entries, Wenalyze is part of the #RetosVLC of VLC Tech City and Valencia Activa. The goal is to help small local businesses through technological solutions to prevent the disappearance of these SMEs