The Better Business Bureau has implemented a new approach to rating businesses. Although it was put in place early in 2009, it is just now getting noticed as its impact is beginning to be felt in the market.
The new system uses a more detailed A+ through F letter-grade, which replaces the old system that rated businesses as either "satisfactory" or "unsatisfactory".
As small businesses look to trim their budgets to survive the recession, they need to be aware of any potential impact on quality and customer satisfaction. Also, expect consumers to pay more attention to such rating reports, as they attempt to focus more on getting the most value from their spending.
The scores are calculated using a variety of measures about the specific business, such as the nature and age of the business, its complaint history, government actions against the business, its approach to advertising, and honors and recognition from its industry. To get a full explanation of its system click here and here. You can see if your business is currently graded by searching their database here.
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