Potential entry in charts very much no good (4)

I believe the answer is:

song

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'potential entry in charts' is the definition.
I can't tell whether this definition defines the answer.

'much no good' is the wordplay.
'much' becomes 'so much' (similar in meaning).
'no good' becomes 'ng' (abbreviation).
'so'+'ng'='SONG'

'very' is the link.

Can you help me to learn more?

(Other definitions for song that I've seen before include "Vocal composition" , "Vocal item" , "You work best when on this" , "Piece of vocal music" , "Musical rendition" .)

I've seen this clue in The Independent.

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