Company accounts data is now available free of charge online to members of The SME Hub, the free-to-join member organisation for small and medium-sized businesses.
Using this new service, members can check the size and profitability of potential UK business partners by studying the official company accounts data supplied to Companies House.
As well as seeing a profit and loss statement, members of The SME Hub will be able to study the balance sheet, capital reserves and cash flow for any limited company, LLP or plc. In addition, a simple graph provides a quick insight into the health of the company and all the information can be downloaded as a pdf.
“It’s important for a business to check out possible partners or customers, because a slick website or brochure can easily disguise the shaky finances of a potential client,” says Dave Sumner Smith, programme director of The SME Hub.
“But until now it has been complicated, cumbersome and costly to get hold of the information to check out a business. By making official company accounts data more easily available, we are able to help our members save time and money, as well as sell more to profitable businesses.
“This is information that’s particularly vital for smaller companies, which need to focus their attention on solvent businesses to ensure they maintain a regular cash flow and avoid bad debt.”
Businesses can join The SME Hub for free by registering on www.thesmehub.com.