Company credit check – Solving the mysteries of your competition

Company credit check - Solving the mysteries of your competition

Wouldn’t you just love to know what your competitors are up to? It’s a powerful insight to see how the people in your industry are operating, and there are great ways to do it using company search. Doing a simple company credit check, amongst other things, can give a great picture of your competitors finances.

Finding out what the credit rating or limit of your competitors is can give you a view of how creditors view your competition. Creditors are extremely stringent, so you can bet that the information you get from a company credit check is totally reliable and accurate.

By knowing what your competitors are doing, you can react. This helps you make decisions based on data for a more effective business – after all, a ‘hunch’ is not reliable at all.

Solving The Mysteries Of Your Competition.

Oh, they’re so mysterious!

Your competitors will, understandably, not want to give you any real information directly. But thankfully a lot of that information is a matter of public record – as such it’s accessible from Companies House.

Using company searches like the service we provide gives you a concise and complete view of your company search. There a several types of report available ‘Snapshots’ give you a very good basic view – whereas the ‘Fully Comprehensive’ report delivers a lot more detail.

So What Can I See?

Well, the most important thing to say is that you have a good look at the financial information, this could be just things like credit ratings and limits – which gives you an indication of how well your competitors are perceived by the competition.

But there is a lot more detail, you can see company accounts – which gives you a very detailed look at the public finances of a company. There are also director reports. If you spot a new competitor on the horizon you can search their company name to find the director and do your own research.

ALERT! Your competitor is winning!

One of the biggest innovations of company searches is the fact that you can use a company tracker. This basically gives you alerts every time there is a change. Whether it’s a change to company credit rating and limit or an alert that new accounts have been filed – it’s very useful.

For example, you can find the process of keeping tabs on your competitors a hassle. And it is technically, as you are using your time to check things that haven’t necessarily changed. That’s why company trackers are so great, because as soon as there is a change you are notified right away.

Fiddlesticks! My competitors know I’m watching.

It is true that if a competitor knows you are watching them they might behave differently. But they actually don’t know. All of your searches are accessing publicly available data that is completely anonymous and confidential.

Companies House ensure this confidentiality is in place so that it remains fair. There are certain implications, if a small company were to look at a big competitor – and they were to know of this – they might be able to use larger resources to act against them. Thankfully, this is not an issue with confidentiality.

Riddle Me This – Company Mysteries Solved

The best thing about company searches is that they make a company credit check very useful for your business, it’s all about making a connection between you and your competitors. So enter the company name you want to search and get your first report today.

Don’t forget the rest our blog is an amazing resource, particularly the ‘Company Search’ section. Check it out!

By Alex Novakovic at MadeSimple – Follow Alex on Google+

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