All UK companies have to submit company information and financial reports to the government every year, including their accounts, transactions, shareholders and mortgage details. The UK government publishes detailed company reports on the company’s official website. The report is accessible to the public only when you pay to access the information. The nominal fee to access the information is £1 per document.
However, much of the useful data becomes invisible to a user unless they are an expert person. A normal user couldn’t handle the confusion between the fee and the clunky online interface. Also, the PDF version of the document makes the linking process critical, which subsequently creates a problem in accessing the data. That is why many people seek support and assistance to do this job themselves or look for companies that offer company data and information services. The vast majority of them are looking for new, user-friendly information about UK-based companies and their accounts for various reasons.
Below are the reasons:
Marketing
Many companies and individuals around the world seek information on UK based companies and their accounts to prepare a rich database for them to use for marketing purposes. Using the database, they can market and sell their products and services both online and offline. They get many golden opportunities to do business with the UK based companies.
Decided on the right category
A good approach that works well with users is to compile a list based on SIC codes. The SIC code is a specific type of code used by Companies House to categorize your business into the correct business niche. Startups can select the right category and make the right decision on the right niches where their business can fit well. In addition, during the preparation time of a large database, data entry operators can place the data in the right niche and users can easily decide where they should go to find the required information.
Check and verify the company data to be sure of the company level.
Before signing an agreement document, you can verify your accounts, finances, shareholders, and mortgages. This can help you make a better decision. In the UK, there are many strict rules and laws about unsolicited phone calls and spam. Violations of these laws can lead a company into a criminal bondage. That is why you can check so many things in detail in order to have a clear idea about the company and make a correct decision whether you should participate in a joint venture or invest in the company as a partner or shareholder.
Avoid sudden problems and unexpected problems
Getting detailed information about a company is very helpful in avoiding any unexpected problems and problems in the future. To be more precise, the company can know if there is a possibility of facing insolvency. In such a case, the company, partners and shareholders may request legal and consulting services in advance.