A FORMER Basingstoke banker is back in town this time with his own business.

Paul Maddison, who was well known when he headed up Clydesdale Bank’s Basingstoke Financial Solutions Centre, on Basing View, is now in business running a new data insight franchise called Red Flag Alert.

Likening it to an online business information bureau, Paul said Red Flag Alert enables smaller businesses to access extensive business data via an easy-to-use platform.

He said access to this information assists SMEs with targeted marketing, business planning and risk assessment.

Explaining that it will “empower local business owners like never before,” he said the system contains more than six million records of live trading companies which is updated daily.

Users are able to manipulate the data via a simple platform to produce powerful reports relevant to individual industries and sectors.

Paul said: “Historically, the cost of this type of data intelligence would have been prohibitive and only accessible by the larger companies.

“We’re here to change that. Our platform now makes this data available to all SMEs and provides unlimited access.

“As the volume and velocity of data increases over the coming months, my simple aim is to help my clients use Red Flag Alert to do better business.”

Paul said Basingstoke already has plenty to be proud of.

In fact, 24 per cent of local businesses currently receive a gold rating in the Red Flag Alert system compared to the national average of just 13 per cent.

Gold standard businesses are financially sound, in a period of growth and are meeting legislative commitments.

“I’m totally committed to making a success of my business which I will do by supporting and being a part of the local business community,” said Paul.

“My motto is never be afraid to ask for assistance when you need it.

“Being self-aware and recognising a gap in your business arsenal, and doing something about it, is just as valuable as having the answers.”