Company Credit Checks: The Smart Way of Assessing Suppliers and Clients

Company credit checks are a valuable tool in your (and your company’s) quest to do smart business. How? Well put simply they help you assess crucial business contacts such as your company’s suppliers and clients.

When starting up it’s all too easy to accept what you can get. This supplier can provide a service far cheaper than anyone else — great, let’s go with them. This client wants a service from us for 18 months — brilliant, let’s sign them up.

Now of course this all makes sense. What business owner in their right mind is going to turn away a great deal from a supplier or refuse a long-term contract with a customer?

However, if you a business owner, not only do you have a business to protect (and hopefully grow), you may also be responsible for the wellbeing of a number of people. Because of this, you should always err on the side of caution. If something sounds too good to be true, there’s no harm in doing your due-diligence. This is where a company credit check can help you.

A company credit check is the act of searching for a company online, through a company search provider with the aim of getting company information, and in particular company accounts information.

This company information is taken from a number of places including company credit check agencies and a Companies House check (sometimes erroneously referred to as a Company House check). The information is provided in the form of a company credit report that can normally be downloaded from an online account or emailed as a PDF (but the exact delivery method will depend on the company credit check provider).

So how can a company check help you assess your suppliers?

It’s all to do with the company information:

  • General information
  • Company name
  • Company number
  • Registered office address
  • Standard industry classification (SIC) code
  • Incorporation date
  • Website address
  • Confirmation statement made-up-to date
  • Annual accounts made-up-to date

Credit risk overview-

  • Credit risk score
  • Credit limit
  • County court judgments

Financial overview-

  • Cash
  • Net worth
  • Total liabilities
  • Net assets


  • Directors
  • Shareholders
  • Secretaries

Company Accounts-

  • Key financials
  • Balance sheet
  • Salaries and dividends
  • Cash flow
  • Capital reserves
  • Ratios

On its own — this is just company information. What you then need to do is analyse the information that relevant to you and your business — which in most cases is the company accounts information and the credit risk information. It’s also a good idea to look at the personnel involved in the company — these being the directors, shareholders and secretaries (if the company has appointed any). By doing this you can get an idea of the success / failure rate of the companies that the individuals have been been involved with.

If all this information is analyzed correctly, you can then assess the risk factor in getting involved in a particular company — giving you an indication on whether you should, or indeed shouldn’t, take on the business as a supplier, client or partner.


Why you should Register a Limited Company Before you Start Trading

You have a business idea — great! What you should do next can be confusing, especially if you’re new to the business world. While you may have plans for what you want to do as a business, you may be unsure of whether opening a limited company and to register company name is the right thing for you. It is often said that it’s better to open a limited company and register company name — but what benefits can it mean for you and your business?

Let’s delve into the benefits of getting onto the limited company register…
Older is better-
whether you have decided to begin trading yet or not, it looks better to have an older company, as this is likely to instill more confidence in others who may be working with you in the future. Great if you perhaps want to open a company and remain dormant for a while. This is also why some people seek to purchase a ‘shelf company’. Your business will be in better standing if you have been through the company registration process, and it has been some time since it has opened, if possible. Some companies actually require those they work with to have been in business for a certain amount of time, so it may be worthwhile to register company name.

It’s all in the name-

One of the biggest reasons companies are formed are to reserve the name — to prevent anyone else from having a business in the same name — and for your brand to be truly protected. Unfortunately companies can’t be reserved, so to register company name would be the only way the name can belong to you. This would also come in handy when it comes to invoices — other companies don’t often pay up into an individual’s accounts if the service or product they have purchased was one they believed to have been via a company.

You may think it’s easier to continue being self-employed or working for yourself (or perhaps you have a full time job and want to see where your business leads to), but it would be wise to consider registering your company name in the meantime — especially as this could mean paying less tax. Not only are you likely to be able to get access to bigger funds or loans, you have more protection when you register as a limited company, and can save further in regards to taxes when compared to being a sole trader. Even though you may not be sure of the future of your business, it couldn’t hurt to get as much protection you can for your business, and potentially save massively in the meantime.

Keeping it separate-

When you are a sole trader, your own income, savings, home and personal assets are taken into account when you have a business. When you register as a limited company, you would be regarded as a separate entity from the company. This means even if you are a shareholder of your company, the company’s finances are kept separate. When you register company name you can also be reassured that the company is limited liability — which means that you would not be liable for any losses to the business financially — if you are self-employed you won’t unfortunately have this luxury.

These are the most common reasons people decide to move from being a sole trader to a limited company; you should always seek further advice if you are unsure what the next step is for you and your business, but there are clear benefits to be had to register a limited company.

If you would like further information, you may wish you speak with a business advisor or get in contact with a specialist company formation agent.


Company Credits Check and Other Company Search Products Can Save Your Business

A company credit check is the act of purchasing (or completing a free company check) on a company. The result of this check is a company credit report that then gives you a plethora of information on the company that you completed the check on — including company accounts information.

Do you know that there’s an absolute wealth of information out there that could play a key part in the survival of businesses across the UK? Perhaps even your business. What is this information we hear you ask? Well it’s information on other businesses (in most cases limited companies — the most popular business structure in the UK) and it’s provided through services such as a company credit check.

In this post we’re going to look at all of the services that are on offer through company credit check providers such as Company Search MadeSimple, and ultimately how these services can help you make smart, informed and fully researched business decisions — business decisions that could make all the difference when it comes to ensuring that you or your business remain financially sound. We hope you find it useful. First, let’s answer a vital question

What is a company credit check?

A company credit check is the act of purchasing (or completing a free company check) on a company. The result of this check is a company credit report that then gives you a plethora of information on the company that you completed the check on — including company accounts information.

What information can I expect to receive in a company credit check?

The exact information you find will differ depending on the company search provider that you’re using and whether you’re opting for a paid check or a free company credit check. Especially when it comes to the company accounts information. However, you can expect to receive some of the following information:

● Company name

● Previous name/s

● Company number

● Company type

● Standard industry classification code

● Incorporation date

● Website address

● Confirmation statement made up to date

● Annual accounts made up to date

● Registered address

● Trading address

● Credit risk overview

● Company accounts information

● Director information

● Shareholder/share information

● All documents that the company has filed

● Group structure (other businesses the business has an owner/ownership relationship with)

● Timeline overview

Where does this information come from?

The information is sourced from a number of places, including Companies House (sometimes known as a Company House search) and credit rating agencies.

How can a company credit check protect your business?

If analyzed efficiently the information found after completing a company check — including the company accounts information — can help you decide who you do, and do not do business with. This is particularly significant if:

1. You’re considering making a large order with a company and so about to part with a large amount of money. You need to know that the company can fulfill the order.

2. You’re a business owner and about to accept a large order. You need to know whether to take payment upfront or give credit.

3. You’re a business owner and considering partnering with another business. Will this partnership enhance your reputation, or damage it?

So that’s how a company credit check and the accompanying company accounts information can help you ‘save your business’s skin’ — but is there another tool out there that can help you? Let’s take a look.

Complete a company director search

It’s not all about looking into companies. Sometimes looking into the people behind the companies, via a company director check — can be as valuable to you and your business. Finding company director details is just as simple, if not even easier, as finding company information. After all, limited company director information is on the Companies House register and so publically available.

A company director search will typically provide you with the following director information …

● Director’s full name (including title)

● Date of birth

● Director ID number

● Nationality

● Address (normally the service address, this being the official address for company directors)

● Number of director appointments currently being held

● Number of secretary appointments currently being held

● Number of previous director appointments held

● Number of previous secretary appointments held

● The names of all companies that the director is or was a director of

● The names of all companies that the director is or was a secretary of

● Period of time since their first appointment

● Date appointed and resigned (if applicable)

● The company status for each company (active, dormant or dissolved)

On top of all this information, the majority of company search providers — such as Company Search MadeSimple — allow you move swiftly from a director search UK over to a company credit report. This gives you a seamless opportunity to trace a limited company director and the performance of the companies that they’re involved with (or were previously involved with) — either as a director or a secretary.

How can a company director search protect your business?

In much the same way that a company credit report allows you to assess a company and the likelihood of them being a sound business associate, a company director search allows you to assess the people behind the companies.

For example:

1. You’re considering making a large order with a company and so about to part with a large amount of money — you need to know that the people you’re dealing with are legitimate.

2. You’re a business owner and about to accept a large order. You need to know whether the person you’re about to take payment from isn’t involved in a company that’s in financial trouble.

3. You’re a business owner and looking into partnering with another business. Are the directors of this company involved in any companies that could potentially damage your company?

4. You’re considering employing someone. But are they involved in any other businesses — businesses that you don’t want to be involved with?

But don’t forget … if you’re a business owner, company credit checks and company director searches can be turned against you

If you have you own limited company or are simply acting as a director in a company, other people can purchase company credit reports and director reports on you.

Therefore you need to be aware of how you look to other people and businesses. Before heading into any business meeting prepare thoroughly by knowing how all your company and director information looks. If there are areas that could raise concerns, decide how you’re going to respond if they are brought up.

Company credit checks and director searches are a valuable tool in doing smart business, but as we touched on above — you just need to remember that they work both ways. If you can do a search on someone and their company, they can do a search on you and your company (if you are indeed a business owner). We hope you have found this post helpful.


What are the Benefits of Registering a Company?

If you’ve got a great idea for a business that you’re now ready to move forward with, one of the first (and most important) decisions that you’ll need to make is; what business structure to operate as?

In the UK the two most popular options are to register your company with Companies House (AKA register a limited company) or operate as a sole trader. Here we’re going to look at the benefits if you choose to register a company and look briefly at how the company registration process works.

If you choose to register your company…

You pay less tax — probably the most obvious advantage of having a limited company is that you’re likely to pay less tax than a sole trader would.

You have limited liability — this means if things don’t go to plan, your personal property (including any actual property) isn’t at risk. You’re only liable to pay out the value of any unpaid shares that you have.

Your business name is protected — Companies House do not allow duplicate names on the register, therefore if you register your company you’re stopping anyone else from forming a limited company with that name.

You’re more likely to get funding — When compared with sole traders, limited companies are more likely to secure lending — thanks in part to the fact that a limited company separates you as an individual from the business — it’s a separate entity.

So there are some of the benefits of company registration, how do you register a company? Quite simply.

Limited companies can be formed directly with Companies House — the UK’s registrar of companies, or through a formation agent. Companies House offer a ‘no-frills’ formation with a basic company formation and nothing else — whilst a formation agent — for a little extra money can form the company and also offer associated services such as a registered office address.


What are Company Credit Checks Used for?

Whether you want to make your company look more appealing to others, or you want more information on another company, you may be interested in getting information by using an online company check. Information includes everything from the most recently filed company accounts, to who is currently involved in the company.

Who uses a company credit check?

Some companies want to see just what their competitors are up to, and a company check is one of the best ways of doing so. A company check allows rivals to get a background of what others in the industry are up to, and an online company report would be the easiest way to get the information they need. This could be anything from a check on their last company accounts, to who is currently running the business.

Predicting a risk to your business, perhaps from a potential client or supplier, is better than taking a chance — this is why checking on a credit rating will come in handy. A credit rating helps you to consider questions such: Are they likely to be able to pay back money owed based on their financial information? You can get information on any profit and losses, and if the company are in arrears by checking a company report for those in question — to help indicate how reliable they may be in business.

Most online company check services offer inexpensive up-to-date information of the company of your choice, which enables you to get the information you need quickly and all in one place. A company credit check is one of the best ways to check CCJs (County Court Judgements), bankruptcy filings, the most recently filed company accounts and even information dating back years prior — and much more!

Would you want to do business with yourself if you could see your company report? A company credit check can be one of the easiest ways to see how others see your company, and whether they would want to do business with you. Using this information, you will be able to see what can be done to change your credit score and what factors you could improve upon.

Are there any other features to a company credit check?

Some people or companies like to purchase company credit checks in bulk if they want to keep in touch with what their competitors are currently doing, or it may be a crucial part of their business in which bulk credit check services can come in handy. Most company check sites offer packages to accommodate bulk buyers, to help save money when buying company reports, especially if you are likely to make repeat purchases.

Take advantage of email alerts — it’s a handy tool most company check sites offer to monitor your company or others, to get the most up-to-date information on a company report. This means you will get an email whenever any obligations such as the company accounts are filed!

Company reports aren’t just limited to UK companies — most company check services offer a international reports service so you are able to keep on top of any business outside the UK without the fuss.


Key Benefits of Structured Network Cabling

fibre optic cabling

What Is Structured Network Cabling?

Structured cabling system is a system of single cabling that can integrate multiple phones, computers and other electronic devices together. It is very useful in the businesses or enterprises to improve the workflow and downtime problems to a great extent. In such kind of systems, you can plug in your devices in the specified sockets.These data cabling systems have a central communication network cabinet to which cables from various workstations will be linked.

Structured data cabling is type of stable infrastructure which is capable of serving various requirements of a network. Looking at the amount of work and connected devices, in the field of Information Technology, structured cabling installation can be very useful.

fiber optic cabling


What are the benefits of structured network cabling?

Premium Management solution that is also affordable.

Structured cabling offers solutions various kind of stable infrastructural networking needs. It is one of the powerful methods that can be used to make changes in the network architecture. Installation of structured cabling is not very complicated and the businesses need to invest only once for Structured Cabling Systems Installation. The basic feature of these systems offers a single point for all management and administrative needs.If you require restructuring your systems then you can just plug in cables to appropriate sockets, this would save both your time and money.

Isolating solutions for the faulty systems

Structured network cabling makes it easy to segregate the defective network to find the solution for the issues and problems that are occurring in the systems. It is not much complicated to find out the defective system from the entire system as the whole system is divided into blocks that are manageable. There are also no blockages to the other devices of the network in structured cabling system.

Provides Flexibility and consistency

If you want to keep the networking infrastructure in your office simple, you can do it with the help of structured data cabling which is flexible in terms of devices. There are different kinds of devices installed in the company; it is easier to connect all these devices with structures cabling.Structured cabling systems offers the easy connect of your PCs, telephones and fax machine by plugging it into the provided specialized sockets.

Gives support to the new applications& Equipment installations

This full-fledged network system is capable of going with the growing needs of business world. You can easily install new devices to your network with the help of these systems without much effort, no extra investment is required. A standard structured cabling system can even hold bandwidth that can support new applications. It is not mandatory to upgrade or update these systems again & again.


If you have significant number of devices in your office and want to keep the cabling simple and not much complicated then you can go for structured data cabling. We are one of the top structured cabling installation companies. Our robust infrastructural services will allow you to maintain proper cabling in your office premises.


How Long Does it Take to Form a Limited Company

Setting up a limited company can be confusing — there’s a whole wealth of information out there, so where do you begin? You may have decided that a limited company formation is best for your business, but are not sure what should come next and how the process works.

The actual process of setting up a limited company should be fuss free, but it can be hard to know exactly how a limited company is formed and where to go to get the support you need.

In order to register a limited company you will need to first decide who will be the Director (at least one person), Shareholder and PSC (Person of Significant Control), but the lengthy forms and business jargon can be daunting.

Filling in forms through Companies House (the UK’s official registrar of companies) is the most direct route to setting up a limited company, but there are company formation agencies who often make the whole process easier, using an online webfiling system to send through the application.

If the thought of completing long, and often more-complicated-than-needed forms, fills you with dread, then perhaps a limited formation company may be of service! As well as a more streamlined experience, they often offer dedicated customer service teams to talk through any queries you may have so you can easily get the vital support that may be needed, with Companies House filing fees included.

All you need to do is complete the details of the simplified versions of the information needed (for Directors, Shareholders, PSC’s, etc). Once an application has been submitted, you can expect to have a limited company set up in anything from 3 to 24 hours — the time this takes depends on Companies House’s workload. You will receive a registration number at the time the limited company has been officially incorporated, which you will need if you decide to open a business bank account or register for VAT.

It’s good to be aware that even if you decide not to trade straight away, there are annual filing obligations due after your company’s first year — those to be filed with Companies House are the Confirmation Statement (an update of your company’s general information) and the Annual Financial Accounts ( financial information, but not a tax return).

Some businesses may decide to hire an accountant, but often this can prove costly. Therefore some limited company formation agencies are now providing assistance with these obligatory filings, and much more, at a fraction of the cost. Less cost means more peace of mind!

It may also be worth considering that you will need a UK address to be listed as the company’s Registered Office Address (a physical address where the company will be based in the UK). Some new startups decide to use their own address, though many don’t want their address listed online for the company and Directors, and often opt to find a Registered Office Address service. This is also a service a lot of limited company formation agencies now provide — to enable you to keep your addresses private, but still have your official and government sent to your residential address.

Of course, this is just a general overview of the steps that can be taken when first thinking of incorporating a company and there will be more to learn along the way. Business advice is always recommended if unsure, but often more information on how easy the process of setting up a limited company can be sought from places such as limited company formation agencies.


How to Move Forward with Your Company Formation UK

So you’ve got an idea for a business but now what? How do you move forward with this idea and turn it into an actual thing? One of the first things you should do is decide on the legal structure that your business is going to take.

In the UK one of the most common legal structures is a limited company — popular as the liability of the shareholders (the owners of the company) involved in the company is limited to the amount of unpaid shares they have.

Here we’re going to look at how a limited company formation works…

Pick your online company formation UK method

Limited companies can be formed directly with Companies House — the United Kingdom’s registrar of companies — or through a company formation UK agent, who will form the company through Companies House on your behalf.

Typically the company formation agent will be more expensive than going directly with Companies House. However, with the extra cost will you will get extra, associated services, such as a registered office and service address (to protect your privacy and also handy if you want a company formation in London).

Give your online company formation UK information

To form a UK limited you will need:

  • A unique company name
  • A UK based registered office address
  • At least one director (the person charged with running the company)
  • At least one shareholder (this owner of the company)
  • At least one person with significant control (the person who ultimately controls the company)

Once all this information has been provided online (offline paper documents are available but increase the formation time) UK limited companies are normally formed with approximately 3 working hours.


Eliminate Your Business Risk By Understanding Your Customer Better

The fear of the unknown is something that affects us all. A lack of information means that you are unable to make an informed judgement, and in the word of business, this can be make or break for a company. But why leave it all up to chance? A company search takes all of the guesswork out the equation, allowing you to decide with confidence who you conduct your business with.

What Is A Company Search?

A company search allows you to easily access a large amount of information on a company, which can then be used to establish whether the company in question is trustworthy.

This information will usually take the form of a “company report” that displays information such as the directors/shareholders, company accounts/financials, and any previous County Court Judgement (CCJ’s) or other legal records that are currently available.

Most company reports will then use the available information to run a company credit check and produce a “credit score” in an attempt to quantify the level of risk that a given company poses to potential creditors.

As well as looking into the company itself, company search providers will usually allow you to run a director search, giving you the ability to see any previous appointments on a director’s record. This enables you to take into account any earlier companies the director may have had — an insight, which could prove particularly useful if there is not much information available on their current company.

Why Should You Be Using Company Searches?

Running background checks on every company you do business with is an excellent habit to get into. You might feel a bit sneaky at first, but the reality is that you put your finances -and potentially your reputation- at risk by being careless about who you associate yourself with.

But even if you do not look into every single company you deal with, there are some circumstances when conducting a thorough company search is particularly recommended, such as:

  • If you are due to place a large order with a company for the first time.
  • If a company wishes to place a large order with you for the first time.
  • If you are in talks to partner with another company.

There’s no need to lose sleep over which companies you should and shouldn’t be dealing with. Start using company searches to your advantage now and see the benefits for yourself.


Why Do You Need a Registered Office Address For Your Limited Company?

When setting up a limited company you need to provide quite a bit of information. One such piece of information is a registered office address. But what exactly is a registered office? Why do you need one? What are the registered office address requirements? And can a ‘virtual office’ help you? Let’s take a look.

What exactly is a registered office?

The registered office is a limited company’s official address. It’s where government bodies such as HMRC and Companies House will send official mail. As this would suggest, the registered office address is on the public register. This means anyone can find out your company’s registered office totally free of charge.

Why do you need a registered office?

Simple. Every company must have a point of contact, a place where official documents can be served.

What are the registered office requirements?

Any United Kingdom address can be used as a company’s registered office, including residential addresses (more on this in a bit). The only requirements are that:

  • You have permission to use the address as a registered office address
  • Any official government mail that is sent to the address is forwarded onto company directors

Your company does not have to carry out any business activity from the registered office, nor does anyone from the company have to work or live at the address.

How can a ‘virtual office’ help you?

Some virtual office providers allow you to use their address as your company’s registered office. This can help you two ways. Firstly, it helps you keep your home address off of the public register — therefore protecting your privacy (no one wants customers turning up on their doorstep). Secondly, it can help your business make a good impression. For example, if you find a virtual office provide who offers a registered address London, you’re placing your company in the heart of the UK’s startup scene.

There you have it, everything you need to know about a limited company’s registered office address, and more.

Source: Abcr News