Author Archives: Laura Azevedo

5 of the best business books for new entrepreneurs

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Knowledge is power, as they say.

So, if you’re newly self-employed, you will want to soak up as much as you can about the challenges and advantages of working for yourself before you get into the swing of your new venture.

In the coming months and years, you will need to work on your sales skills, your approach to time management, and your understanding of business financials – three things that will be crucial in your new role.

You will also need to nurture a more positive mindset. It’s the only way you’ll develop the resilience you’ll need to succeed.

One relatively easy (and low-cost) way to achieve all the above – without investing in high-ticket courses or mentorship programmes – is to seek out some of the best business books on the market.

Reading about other people’s experiences and learning from their expertise will give you valuable insights into the world of entrepreneurship, not to mention introduce you to more effective approaches and spark new ideas that you can implement in your own organisation.

Here, we’ve provided short overviews of five of our favourite business books for new entrepreneurs. Happy reading!

1. Start With Why: How Great Leaders Inspire Everyone to Take Action, by Simon Sinek

Every new entrepreneur has their ‘why’, their reason for starting their own company in the first place. And as Sinek says: “People don’t buy what you do; they buy why you do it. And what you do simply proves what you believe.”

This book is a must-read for anyone who wants to understand more about the thoughts, acts, and behaviours of some of the world’s greatest leaders, and how they can replicate the habits and the positive mindsets of these influential personalities to inspire their own growth.

2. How To Win Friends and Influence People, by Dale Carnegie

First published back in 1936, Carnegie’s classic has shaped behavioural psychology as we know it. The principles of the book are based on the idea that you can change other people’s behaviour simply by changing your own. It’s something of a bible for new business owners who want to learn how to become more likeable; how to handle their relationships well; and how to win other people over without coming across as arrogant or intrusive.

3. The 7 Habits of Highly Effective People, by Stephen R. Covey

In a similar way to How to Win Friends, The 7 Habits of Highly Effective People focuses on the importance of fine-tuning your own character to achieve sustained success, both in business and in life. It’s a fascinating deep-dive into how what and who we are shapes our reality – and it’s a brilliant book for new entrepreneurs who want to explore the benefits of interdependence, not just independence.

4. Rich Dad Poor Dad, by Robert T. Kiyosaki and Sharon Lechter

Many of us have pre-conceived ideas about money; about how much we should earn, how hard we should work to earn it, and what this should mean for our quality of life. Rich Dad Poor Dad argues that entrepreneurs should spend time learning how money works, so they can make it work better for them. Expect interesting insights into how the rich stay rich, and the poor remain poor due to poor financial literacy and a tendency to invest in liabilities, not assets. 

5. The 4-Hour Workweek, by Tim Ferriss

We all want to work smarter, not harder, don’t we? Perhaps one of the most useful business books of all time, Ferriss’ blueprint to escaping the 9 to 5 will introduce frameworks to help you improve your income, live more freely, and reconstruct your professional life so you work to live, not live to work. It’s packed full of practical tips that new entrepreneurs like you should take on board from day one. Ultimately, the advice in these pages will help you achieve a better work/life balance and prevent burnout, the real enemy of the self-employed, from taking hold at any stage in your career.

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IT security essentials for new startups

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You’ve set up your company, you’ve got a great team on board with your venture, and you’re ready to hit the ground running.

But have you considered how you’re going to keep your IT setup secure?

In today’s increasingly digital world, IT security should be at the forefront of every entrepreneur’s mind. Though there are lots of tools and frameworks that can be used to keep confidential data away from prying eyes, there are a few fundamentals that you must set in place to prevent data breaches and malicious attacks, both of which could be disastrous for your business.

Here are five IT security essentials for startups that will help you keep you, your systems, and your employees safe.

1. Invest in good anti-virus software

Anti-virus software runs in the background to stop your machine from being compromised by known viruses and other types of malware. Though there are plenty of freebies available, we would recommend purchasing and installing technology from a reputable provider for the best level of protection.

Make sure your chosen anti-virus package is installed across all your business devices, even (and especially) the laptops, tablets, and mobiles that your employees use when they work remotely. You should also update this software regularly to make sure it’s running the latest patches.

2. Apply a VPN to your network

Virtual private networks (VPNs) create secure connections between your devices and the networks you log into. They can help to keep things like your IP address, location, passwords, and sensitive data safe from hackers. If you value your company’s online privacy and want to benefit from added encryption while you’re working online, a commercial VPN is a must-have for your startup. 

3. Choose secure passwords

Passwords that are easy to remember are also easy to hack. Make sure all your business passwords are at least eight characters long and contain one uppercase letter, one number, and one symbol. Avoid guessable passwords like surnames, pets’ names, and birthdays – and never use the same passwords across personal and business accounts!

If you find yourself struggling to manage all these unique passwords in one place, you could benefit from using a purpose-built password manager app. You might also want to consider setting up two-factor authentication (2FA) in order to access your business profiles and accounts.

4. Learn how to spot phishing emails

Phishing refers to sending out emails that look as though they are from a reputable company but are in fact sent by scammers who are ‘fishing’ for sensitive and personal information. This practice accounts for up to 90% of all organisational breaches every single year – so it’s important to teach your team how to identify ‘fake’ emails that could put your data at risk. Red flags include:

  • Spelling mistakes
  • Urgent copy – for example, ‘immediate action required’
  • Domain names and email addresses that don’t match
  • Unfamiliar or suspicious attachments

5. Have a backup plan in place

You should back up your data once a day (and more frequently if you rely heavily on your digital systems to keep your business operating). This way, if you lose this data for any reason, you’ll be able to restore everything in a matter of minutes. Scheduling automatic backups to an external hard disk or a cloud account will save your team valuable time and give you peace of mind that your data will be there for you if you need it.

One last thing regarding IT security for startups. If you’re just starting out, it can be tempting to give everyone in your team the same access permissions. But the more people that are logging in to your accounts and systems, the higher the risk. Try to give out this data on a need-to-know basis – and keep a record of who has access to what, in case you need to find the source of a breach or an attack.

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What government grants are currently available to small businesses?

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If you’re planning to launch your own business, there’s no harm in asking for help.

There are hundreds of government-run grants available to British entrepreneurs who want to lower their start-up costs, invest in innovation, and achieve much faster growth.

If you’re keen to take advantage of government grants for opening a small business, here’s our pick of some of the most useful schemes available right now in the UK.

Follow the links provided to learn more about the criteria for each initiative and find out if you are eligible to apply.

Seed Enterprise Investment Scheme (SEIS)

As one of the government’s most popular schemes for small businesses, SEIS provides tax efficient benefits to investors who provide early-stage funding to start-ups. If you’re successful, you’ll get access to much-needed capital, plus the skills and experience of investors with contacts and expertise in your sector.

The Prince’s Trust Enterprise Programme

The Prince’s Trust provides training, mentoring and financial support to help businesses develop great ideas and launch their products or services with confidence. The programme is open to UK citizens between the ages of 16-30 and offers grants of between £175 and £250. To be eligible, you will need to be working less than 16 hours a week (or unemployed) or studying for less than 14 hours a week.

British Council Grants

British Council government grants deliver finance for research, travel, and workshops through Going Global Partnerships. Funds can be used to support partnerships with universities, colleges, education policy makers and other bodies in the UK and internationally. These partnerships tend to be focused on projects relating to climate change, public health, and teaching opportunities.

Local Enterprise Partnerships (LEPs)

There are 38 Local Enterprise Partnerships (LEPs) between local authorities and businesses in the UK, which are organised and managed within various regional Growth Hubs. According to the LEP website, LEPs exist to empower local companies, generate private investment, and boost jobs and skills, amongst other benefits.

UnLtd Awards

Comprised of both funding and support, UnLtd Awards are for social entrepreneurs: those who have started, or are looking to start, a business with a distinct social cause (sometimes called a profit for purpose organisation). There’s up to £8,000 available for new organisations, and up to £18,000 available for more established companies between 1-4 years old that need help scaling up their operations.

Innovate UK

Innovate UK is the UK’s national innovation agency, which supports business-led innovation in all sectors, technologies, and regions across the country. It helps small companies hit their research and development goals by providing funding at various points throughout the year.

Research & Development Tax Credit Scheme

Research and development (R&D) tax credits aren’t considered government grants as such – but this type of tax relief is a brilliant option for businesses that can prove they are investing in new products, services, systems, or processes that have not yet been explored in their industry.

You can apply for R&D tax credits if you are embarking on a project that is scientifically or technologically uncertain, and you may even be eligible for this relief if your project is unsuccessful. Find more information on R&D tax credits on gov.uk.

The grants listed here represent the tip of the iceberg when it comes to everything the UK government can offer start-ups and smaller businesses. Whichever scheme you choose, we wish you the best of luck with your application!

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Sole trader vs limited company: Which is the best option for you?

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How you decide to structure your new business will have a significant impact on how your venture operates and how much tax you’ll need to pay – not to mention how it is perceived by potential clients.

There are three main options: becoming a sole trader, entering a limited liability partnership, or registering a limited company.

Here, we’re going to focus on the pros and cons of the two most popular choices – going it alone as a self-employed entrepreneur i.e. as a sole trader and giving your organisation a separate legal identity to your own as a limited company. 

The advantages and disadvantages of becoming a sole trader

As the name suggests, becoming a sole trader means you’ll work for yourself, by yourself. You won’t have the support of a board of directors – but on the other hand, you’ll be able to run things your way, without having to get other shareholders on board with your decisions. You won’t need to pay to register with Companies House, and all you’ll need to do from a financial perspective is keep an accurate record of your income/expenses and submit your self-assessment tax return every year.

The sole trader approach is often the best fit for freelance professionals, such as photographers, copywriters, designers, journalists, editors, translators, and professional consultants in any field.

Pros:

  • Simple management structure
  • Less paperwork
  • Straightforward tax return process
  • Expenses can be tax-deductible
  • Can still employ staff

Cons:

  • Profits taxed as income, exposing you to the higher rate tax band faster
  • Less tax-efficient overall
  • Not legally separated from your business
  • Liable to clear any debts with your personal assets

The advantages and disadvantages of setting up a limited company instead

Creating a limited company is the easiest way to minimise risk. In our eyes, this is the single most important reason why it’s a better long-term option compared to setting up as a sole trader.

A unique benefit of registering a limited company vs becoming a sole trader is that, as the name suggests, doing so will limit your liability for any debts incurred by your business. This means that if you ever run into financial trouble, you won’t need to use your own hard-earned assets – such as your property – to settle what you owe. Any legal action will also be brought to the company itself, not you as an individual.

Tax savings can also be made when setting up a limited company (although you will need to check with your accountant to find out what this means for you). Limited companies pay corporation tax on net profits (currently 19%), while sole traders will need to pay between 20% and 45% income tax on their gains plus National Insurance contributions.

The limited company route is often ideal for business owners who want to grow quickly; who want to be perceived as more trustworthy and secure by larger clients with more stringent tender processes; or who want to join forces with other entrepreneurs in an environment that’s more structured and protected than limited liability partnership arrangements.

Pros:

  • More secure setup
  • Appeals to banks and funding providers
  • Appeals to larger firms
  • Pay less tax on profits
  • Total income taken via PAYE and dividends
  • Can set up Directors’ Loans
  • Can set up with only one ‘employee’ (you)
  • Can employ staff

Cons:

  • More administrative responsibilities
  • Must register with Companies House
  • Must attend yearly directors’ meetings
  • Must submit corporation tax return every year, as well as personal self-assessment
  • Can be difficult to manage the opinions and expectations of multiple directors and shareholders

Companies MadeSimple makes light work of forming a limited company. We can assist entrepreneurs at every stage of their journey, from those who are setting up a business for the first time to sole traders and contractors who wish to switch to a limited company structure after many years of trading. Contact us for more information on our company formation services or view our registration packages here.

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6 ways to reduce your company’s energy bills this winter

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Times are tough for many UK companies, not least because rising energy costs are leaving many of us with eye-watering gas and electricity bills.

Although the government has brought in temporary support to see organisations through the next few months, the onus is still on us, as business owners, to do everything we can to reduce our energy consumption and keep our overheads to a minimum.

Here are our top 6 tips for saving energy in any business, in any sector.

Make sure you’re on the cheapest possible deal

Thanks to the current state of the market, most energy providers are beholden to sky-high unit rates and standing charges, and many of them aren’t taking on new customers for the foreseeable future. However, there are still opportunities out there, and you could save money by switching to a different provider. Use a comparison website, enlist the help of an energy broker, or speak to companies directly to find out what else is available, and whether it’s worth making the move.

Ask your provider for a payment plan, if you need one

If you are struggling to pay your bills in the short term, get in touch with your supplier to arrange a payment plan that will help you get back on track. Most energy companies will be open to helping you spread the cost.

The worst thing you can possibly do is refuse to pay what you owe – even if you’re in dispute with your supplier – as you may risk being disconnected from your utilities altogether. Plus, you’ll often face further disconnection and reconnection fees, which are added expenses you could do without.

Make small changes that could lead to bigger savings

Simple adjustments will help to keep more cash in the bank. For example, energy-saving LED light bulbs are known to be up to 80% more efficient than incandescent lighting, so it’s well worth installing these throughout your building (or even in your own property, if you regularly work from home). Have an honest conversation with your staff about ways you can conserve energy as a collective, even if it’s simply by turning equipment off when it’s not in use.

Heat-proof your building

Heating systems are notoriously expensive to run – so make sure you’re keeping as much hard-won warm air in your premises as you can. Ask your staff to keep windows and doors closed during colder months and install draught excluders and door seals if necessary. You could even go one step further by making sure the water tanks, pipes and radiators within your building are suitably insulated.

Invest in new equipment

It might seem counterintuitive to spend more at a time when you want to tighten your purse strings – but newer equipment usually runs more energy-efficiently than machinery that was manufactured several years (or decades!) ago. If you really don’t want to spend a lot of money upfront, do make sure your equipment is regularly serviced, as this will keep it performing at its best and running as energy efficiently as possible. Regular maintenance is especially important if you’re operating power-hungry appliances like air conditioning systems or commercial extraction systems.

Get a smart metre

As much as you might not want to know just how much you’re spending on your energy bills right now, having a smart metre to hand can help you spot any spikes in consumption that you wouldn’t have noticed otherwise. If you can see what’s drawing the most energy, you can take steps to reduce your usage of the hardware and appliances that are the most expensive to run.

Aside from implementing these energy saving tips, make sure you do a little research into the support that’s available to you as a small business owner. For example, you can click to learn more about the Energy Bill Relief Scheme, which is designed to apply discounts on energy usage for non-domestic customers between 1st October 2022 and 31st March 2023.

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5 Legal Documents for your Buy to Let Business

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After incorporating your property business you will be keen to get started and let your properties so that you can get returns on your investments as soon as possible. However, before you embark on your buy to let business, you will need to ensure that you have a suite of legally-compliant contracts that protect you, your properties and your business. A failure to provide certain documentation might result in financial penalty for a landlord and out of date contracts are both unenforceable and dangerous. In this article we discuss what essential contracts and documents you will need for your buy to let business and what you need to consider when selecting them.

1. Assured Shorthold Tenancy Agreement (AST)

Arguably the most important contract you can source for your buy to let company after incorporation is a robust and compliant assured shorthold tenancy agreement (AST). An AST describes the relationship between the landlord and the tenant and makes clear the obligations and rights that derive from the agreement in relation to the property.

It is important that your ASTs include certain clauses and information, such as:

  • The landlord and tenant’s personal details;
  • The start date and end of the tenancy;
  • The rent amount;
  • The nature of the let (e.g. sole occupancy, house in multiple occupation, bedsit);
  • Details relating to deposit protection (it is a legal requirement that all deposits taken from the tenant are registered with an approved provider);
  • Details relating to the property and common parts;
  • The term of the tenancy and termination requirements in accordance with notice periods prescribed by legislation; and
  • Governing law.

Alongside this core information, it is also important that your AST is up to date. In support of tenant rights, the Government has introduced a series of bans on fees and charges that landlords can request from tenants. Duplicating old templates or downloading free templates online might expose you to inclusion of illegal clauses, such as cleaning fees.

2. Guarantor Agreement

Depending on the rental market you are targeting you might also require a guarantor agreement. This type of agreement is common for student rentals or where a tenant does not have a fixed income or salary. A guarantor, in essence, promises to pay the outstanding rent if the tenant defaults on payment. Unlike an AST, a guarantor agreement must be executed by deed meaning that it must be witnessed and it must state its nature.

3. Tenancy related letters

When letting out your properties you will want to ensure that you have clear and accessible letters to send to tenants in certain circumstances which allow you to make amendments to the tenancy or request outstanding payments.

Most commonly, landlords that have long-term tenants will need to issue a rent increase letter to ensure that their buy to let business is making the profits it should be. Equally, if tenants are in arrears it is important that you have the correct mechanisms in place in order to recover missed payments and clear rent arrears letters are the first step in any process for the recovery of rent.

4. Notices

Alongside being able to communicate with tenants about their existing tenancy you will also want to have the correct documents in place to ensure that you can end the tenancy when you are contractually entitled to. It is important that you understand how notices work and how different notices apply in different circumstances. For example, a section 21 notice is used for ‘no- fault’ evictions when you want to recover the property whilst section 8 notices are typically used when the tenant has been in breach of the AST.

5. How to Rent Guide and Certificates

Alongside having a robust AST, clear letters and the right notices available to you, your buy to let business also needs to make sure that it follows certain procedures and sends its tenants certain documentation when it enters into a tenancy agreement with them.

Firstly, landlords are required to provide their tenants with the Government’s How to Rent guide that gives the tenant information relating to tenancies. Secondly, and alongside the How to Rent guide, landlords are required to give their tenants certain documentation relating to the energy efficiency of the property and safety. These documents include:

As you are legally required to provide these documents, it is prudent to get a tenant to sign each document to ensure you can prove that the documents were received by the tenant if disputes in the future were ever to arise.

Conclusions

Having incorporated your buy to let business you will be able to begin your investment journey and start to rent out your properties. However, it is important that you pay close attention to the content of the necessary agreements to ensure that they are up to date and legally compliant.

Without experience, editing and tailoring online templates is risky and on the flip side a lawyer might be too expensive at this stage of your buy to let company.

Fortunately, Legislate is a contract creation and management platform that allows you to create, sign and manage lawyer-reviewed legal documents in a controlled and safe way. To create any of the legal documents in this article for only £9.95, sign up to Legislate today!

The opinions on this page are for general information purposes only and do not constitute legal advice on which you should rely.

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Essential Contracts for your Business

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Once you have incorporated your new company you will be keen to get things running as soon as possible. However, before you hit the ground running it is crucial that you source robust contracts to protect you and your business so that it can grow quickly and safely. In this article we discuss what business contracts you will need for your growing business or startup and some of the essential clauses you should look out for.

Employment agreement and offer letter

The first and most obvious contract for your business is an employment contract. Having incorporated your business, you will likely want to engage staff to help you manage your business needs. Having robust employment contracts is crucial to protect your business and your business’ interests.

The core features of a contract of employment for a new employee include:

  • The employer’s name and address;
  • The employee’s job title and brief job description;
  • Place of work;
  • Date of agreement;
  • Start date and duration;
  • Hours of work (such as whether it is full time of part time) and holiday entitlement;
  • Termination, notice periods and dispute resolution or grievance procedures;
  • Optional benefits, such as sick pay, and;
  • Intellectual property (IP), personal data and non-compete clauses.

It is a legal requirement that companies provide employees with a written contract. Whilst you can find free templates online that might serve this purpose they probably will not offer you the flexibility or protection that your business deserves and needs.

Consultancy and Independent contractor agreement

Another essential type of contract is a consultancy, or contractor, agreement. These types of service agreements might be more appropriate for your business model than taking on employees as they are responsible for their own pension and national insurance contributions. A consultancy agreement is used for a variety of reasons, most commonly to appoint a self-employed consultant to provide services.

A consultancy agreement should contain similar basic information as employment agreements, such as: start date, duration of work, termination and notice. Whilst written agreements like an employment contract are obviously not legal requirements in these circumstances, confidentiality clauses and IP clauses are particularly important when taking on consultants, especially if you have hired them to design something for your business. Under a consultancy agreement, a consultant is obligated to provide the services as prescribed in the contract, invoice the client as per the payment terms in the contract and have professional liability insurance. You might also wish to specify the nature of the services and any deliverables the consultant is expected to provide within your consultancy agreements for clarity.

Confidentiality Agreements

Protecting your business’ confidential information is extremely important but you will need to share information about your business to certain individuals in order for your business to grow. Your employees are an obvious example and in your employment agreements it is prudent to ensure that you have a clause that relates to the handling, processing and sharing of confidential information both to protect your trade secrets but also to ensure that your business does not breach GDPR regulations.

It might also make sense for your business to partner with other businesses in order to scale growth quickly. Typically, in order to see whether two businesses are a good match they will need to share information about their user base and strategies. In these situations it is key that you have access to non-disclosure agreements (NDAs) to ensure that the information you do share remains confidential and, if you decide to officially partner with a partnership agreement, you want to ensure that there are also relevant clauses relating to confidentiality in this new agreement.

Company Policies

Alongside contracts, you also want to ensure that your company has clear policies. For example, you will want to ensure that you provide your employees with a staff handbook to supplement your employment agreement and outline company procedures in the case of illness or grievances, for example.

Alongside this, you will also need to ensure that you have a privacy policy and privacy notice for handling data under UK GDPR regulations and that you have any necessary disclaimers drafted and published.

Finally, depending on the work that your company undertakes, or intends to undertake in the future, you might want to create anti-slavery and human trafficking policies or anti-corruption and bribery policies as these can be a requirement in certain areas of work, such as work with governemnt departments.

Conclusions

Making sure that you have access to these essential contracts when starting your business is one of the simplest ways you can protect your business from the get go. However, downloading templates online, whilst a cheap option, does not ensure that your contracts are tailored to your specific needs or that they offer your business adequate protection. On the flip side, and as all small business owners will know, the cost of law firms can be significantly higher than their available expenditure.

Legislate is a contract creation and management platform that allows you to create lawyer-reviewed legal documents, such as employment contracts and consultancy agreements, in a controlled and safe way. To create a lawyer-approved contract for only £9.95, sign up to Legislate today!

The opinions on this page are for general information purposes only and do not constitute legal advice on which you should rely.

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What is a company credit report?

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What is a company credit report and what it’s used for:

What is a company credit report? 

A company credit report provides financial background information about a company. It covers information such as the company’s ownership, subsidiary companies, financial information, risk scores and any liabilities or bankruptcies. It is also known as a business credit report.

Company credit reports generally provide the following information:

  • Business background information to help verify that a company is genuine.
  • Company financial information including a business credit score and potential risk factors.
  • A summary of banking, trade and collection history.
  • A summary of liens, judgements and bankruptcies.
  • Uniform commercial code filings.

Unlike a personal credit report, you do not need any permissions or personal details to run a company credit report. Anyone can view or run a credit report as it is public information. 

What is a business credit score?

A business credit score is a score ranging from 0 to 100 that is given to a company based on a set of criteria. The higher the score, the higher a company’s creditworthiness. The business credit score is also called the company credit score.

A variety of different factors determine a credit score for a company. They include business accounts, such as a company’s balance sheet and cash flow, who the director is, how they pay their bills if they have CCJs (County Court Judgements) and much more.

Credit agencies like Creditsafe and Experian start building a business credit record for your company from the moment you start with your business. Each company has their own algorithm for calculations, which is why a score may differ from company to company.

What can I use a company credit report for?

Business credit reports, also called company credit reports, are used to run business checks on potential customers, suppliers and partners. You can use a credit report to: 

  • Determine how reliable or how creditworthy a company is.
  • Find information on and monitor your competitors.
  • As a customer and/or supplier you may use a credit report to check up on a company before they do business with you, and your customers and suppliers may do the same. 
  • Used as a health check for your own company- find out how you appear to other organisations by checking your company credit report.
  • Company credit reports are also used to assess your company’s credibility for business loans. 
  • Insurance firms may also use these reports as part of the risk management process for a business.

Why should I run a business check?

When you run a business check using a company credit report, it helps mitigate the financial risk associated with extending credit. It is a part of financial due diligence before doing business with another company. 

Here are some reasons why you need to run a business check:

Find out what potential customers or suppliers think of your business

Running a company credit check on your own company helps you see what potential customers and suppliers see. This will help when you’re pitching for new business and partnerships.

Keeping track of your company credit score will also help you manage and improve your business credit. This can help you obtain the funding you need to expand your business and maintain creditworthiness. It also helps you monitor your report for potential errors or inaccuracies including fraud.

Avoid working with fraudulent companies

You should always check that a company is legitimate before doing business with them. This does not mean just checking their website and telephone number works. All limited companies should be registered at Companies House and will have a company number. You can view scanned copies of Companies House documents to verify a business and check the directors match up to who you’re dealing with face to face. 

Avoid making bad credit decisions

You should always assess the financial risk of doing business with any company whether you are working with or extending credit to them. Company credit reports can help you do this. You will be able to obtain the financial background information on a business, including a company’s payment behaviour, judgements, liens and bankruptcies. 

If you find that the company in question is a financial risk, you’ll be able to make a smarter decision about the pros and cons of moving forward with a potential partnership.

Find and purchase company credit reports now →

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MadeSimple and ANNA Money partner to support new entrepreneurs

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MadeSimple Group and ANNA (Absolutely No Nonsense Admin) Money have announced a partnership to offer a free company registration with a business bank account to support new entrepreneurs.

Together, MadeSimple and ANNA are aiming to boost aspiring entrepreneurs by simplifying the company formation process and helping with the costs associated. The partnership will make it incredibly simple for people thinking of starting a company for the first time to get up and running.

Speaking of the partnership Tom Beston, Managing Director of MadeSimple Group said: “MadeSimple has helped over a million businesses get started and we know they face a number of unique challenges, especially in the current climate. New business owners often don’t realise they need a business bank account to keep their company and personal finances separate. We’re delighted to be partnering with ANNA to offer free formations that include a business account to help even more entrepreneurs start up in the right way.”

Andy Roberts, Head of Partnerships at ANNA commented: “ANNA has a unique offering for small businesses and freelancers with an app that handles financial management tasks such as direct debits and invoicing, enabling clients to focus on other tasks. We are excited to be able to work with MadeSimple to offer entrepreneurs these value added services so customers can focus on doing what they love.”

MadeSimple Group is the leading Companies House approved formation agent that offers business products and services to startup companies and small businesses.

ANNA is a mobile business account, Mastercard debit card and virtual assistant rolled into one aimed at start-ups, freelancers and small businesses

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