All UK companies are required to submit business information and financial reports to the government each year, including their accounts, transactions, shareholders and mortgage details. The UK government publishes detailed company reports on its official website. The report is accessible to the public only when they 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 he is an expert person. A normal user couldn’t handle the confusion between the fee and the clunky online interface. Additionally, the PDF version of the document makes the linking process critical, which subsequently creates a problem accessing the data. That is why many people seek support and assistance to do this work themselves or seek companies that offer company information and data services. The vast majority of them are looking for fresh, user-friendly information on UK-based companies and their accounts for various reasons.
Below are the reasons:
Marketing
Many companies and individuals around the world search for information on UK based companies and their accounts to prepare a comprehensive 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 UK based companies.
Decided on the correct 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 businesses can fit in well. Also, during the time of preparing a huge database, data entry operators can put data in the right niche and users can easily decide where to go to find the required information.
Check and verify company data to make sure of company level
Before signing an agreement document, you can check 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 to a business in criminal servitude. That is why you can check so many things in detail to get a clear idea about the company and make a correct decision as to whether you should go for 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 can request legal and consulting services in advance.
