Company searches can change your business life, if there aren’t regular searches taking place as part of your competitor analysis you will remain uninformed on your competitors activities. They certainly aren’t going to be telling you what they are doing themselves, but there is always insight to be drawn from publicly available information.
The way that you interact with business data can truly change the way your business functions. By promoting a data-led approach to competitor analysis you create business intelligence that is much more reliable than guesswork and hunches.
So when you undertake company searches the mysteries of your competitors will be revealed. But in what ways can they solve the riddles of the people vying with you in your sector?
Well, the following questions can be answered:
- Financial – The most important question about your competitors is – how well are they doing financially? It’s something you can see with a company search. Credit ratings and limits can be retrieved with a company search. This allows you an independent view of how creditors see your competition. You can also find detailed account information too.
- Legal – The process of doing business means you are part of a series of interconnected systems, one of them being the justice system. Complaints, writs or other legal issues can arise in the course of business – and with a company search you can find the details on your competitors and find where they’ve had legal issues to contend with – which can then help you to avoid these same problems yourself.
- Structural – Finding out information on directors and company structure is a key way of unlocking the mysteries of your competition – namely, exactly who they are. This allows you to find all you need to know about how the businesses competing with you are setup and make use of the information – whether that’s for things like finding a business name or director – or an address, it’s all valuable.
Basically the concept of company search is a big magnifying glass that lets you see all the little details about your competitors. You could even run a company search UK on your own business, for a look at how other companies might view you.
For More Info- www.companysearchesmadesimple.com
Originally Published - www.accountingweb.co.uk