Credit score isn't like the existing sports scoring nowadays. As the 2016 Rio de Janeiro Olympics near, many of us will be rooting to our favorite sports and team members bearing each of our nations' flags. But talking about credit score, which country do you think have the highest credit reporting system aside from America?

According to Axis Capital Business Funding Group review, a credit source for small business owners operating in over ten states in America, many countries in public and private credit reporting agencies exist and were often initially created to help monitor risk in banking sector. Privacy laws often prevent those registries from sharing information with private credit reporting agencies.

Germany

Germany's system is "quite comprehensive" though the information reported predominantly comes from banks. Their major reporting agency is SCHUFA. Thanks to recent regulatory changes, Germans can have late payments deleted from their credit files as long as the original amount was less than 2000 Euros and the bill was paid within six weeks. Germans can request free copies of their credit report once a year.

Australia

Positive information is not reported on consumer credit reports in Australia. The government doesn't allow it. But they are trying to at least report balances. Reviews say that lenders are only relying on applicants to truthfully report balances on other accounts.

South Africa

South Africa has a robust credit reporting system, much like in the UK, with Experian, TransUnion and Compuscan as the main credit reporting agencies. But the rest of Africa generally has very poor or non-existent coverage, and changing that is a daunting challenge.

Malaysia, Singapore, Hong Kong, Jakarta, Indonesia

Much to the surprise of many, Asia has leapfrogged the U.S. and the UK in terms of technology and more comprehensive database. In those countries, they have combined consumer credit reporting and commercial credit reporting which is specifically valuable for SMEs (small and medium enterprises) trying to get access to credit.

China

China has a public registry originally developed by the People's Bank of China. It has been very difficult for the private credit bureaus to establish themselves in a country where there is no legislation to protect themselves. Those who live in Japan, however, had better maintain a good reputation and relationship with their banker. Consumer credit is underutilized, and credit data is vertically siloed. Some credit is even made in a name's basis.

A lot of small businesses nowadays are struggling to keep up with the fast pace of industrialization and modernization. In order to compete, you have to be more creative and think of out-of-box thinking. Small businesses have traditionally been the key driver for economic recovery when it comes to hiring, but hiring requires capital, and capital can be hard to come by. In order for you to find solutions for your unending financial needs, Axis Capital Group Business Funding, which has serviced the United States and now expands to Jakarta, Indonesia, has prepared ways for you to get started with your small business:

* Do it yourself.

Most entrepreneurs and small business owners these days have come to the realization that they will have to self-fund (also known as "boot-strapping") their projects for a significant amount of time until more formal funding opportunities become realistic. Before starting a business, of course, business owners should already have this outlook that you have to spend for your own somehow. If you believe in your vision and have an absolute refusal to accept failure as an option, you should feel comfortable investing you own money into the business. In turn, this will make potential investors more comfortable knowing you have skin in the game.

* Friends, family, and fools.

Review who are closest to you. Those closest to you are more likely than anyone to believe not only in your vision, but your ability to make that vision a reality. One downside of course is that you are potentially risking personal relationships should the business fail and your agreement not be structured properly. Juts borrow enough money which you can't afford to set up your website and such so as not to burn any bridges around you. You might be faced with tons of complaints even before you are starting.

* Small business loans.

Yes, this do exists and we happen to be in this business. We are in fact extending even in Asia including Jakarta, Indonesia, Singapore and Hong Kong. Since banks are stricter and harder to deal with, lenders like us came into being. Another reason to pursue debt financing is that you aren't giving away a piece of your business.

Regardless of which path you take, chances are that you may do all of these at some point as your business grows. At the end of the day, you have a business to run and none of these matters unless it has your full attention. So find a viable funding solution that also allows you to maintain operations and focus on profitability.