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Are you already working with a virtual office, do you have a potential business partnership ahead of you? Or maybe you are interested in comparing yourself with the competition, checking the effectiveness of other companies' activities or development opportunities, e.g. by purchasing an existing business? Knowledge on how to assess the credibility and condition of a company, using information available on the Internet, can be extremely valuable. Check how to do it.
In order to guarantee yourself a reliable partner for fruitful cooperation for many years, it is important to thoroughly check whether it is worth establishing such a relationship. Not only trust is crucial, but also the initial assessment and subsequent verification of credibility and situation.
Take a look at what's going on on the internet
Start by doing some serious research online. Search for the company name, but try to filter the results. Focus on information that could indicate potential problems.
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Are there any debtor-related sites? Be vigilant and verify this thoroughly. Are most of the reviews negative? Review the allegations presented, remembering that some of them may come from dishonest competitors.
If people complain about not getting paid on employee portals, pay attention to comments that seem authentic and constructive. Remember, however, that they are not always objective. Check the credibility of such information before it influences your decision to work with a given company.
Examples:
- KRS - if your potential contractor is a company. This is a real treasure trove of knowledge and information about companies.
- CEIDG - if you plan to cooperate with an entrepreneur running a sole proprietorship (or a partner in a civil partnership). Here you will check basic registration data, such as: whether the company actually exists, is registered and whether its activity is not suspended.
- rejestr.io - a wide range of information available in public registers, but presented in a more readable and intuitive format.
Don't forget about the right tools and sources of information to make informed business decisions. Reliable verification of potential partners is the key to successful cooperation!
Searching for information about a given company in the KRS can provide a lot of important data. Here is a two-step method for conducting such verification:
Go to the KRS Search Engine and enter the KRS number of the company you are interested in. You will find "Detailed Data" there, containing the most important information about the company, such as:
- accurate address details;
- date of entry into the Register of Entrepreneurs and, if applicable, date of deletion;
- date of suspension and resumption of activity;
- detailed information about possible bankruptcy proceedings;
- data of board members.
Then go to the Financial Document Browser page, entering the KRS number.
There you will find all financial documents published by your future contractor, including:
- annual financial statements of the company;
- detailed activity reports;
- resolutions on the distribution of profits or coverage of losses.
The file with documents there is often in XML format, but using free financial report viewers, e.g. Visualizations of reports on the Ministry of Finance website, it can be read. It is worth analyzing all the information and numbers contained therein to better understand the company's situation:
- revenues achieved and costs incurred - pay attention to the structure of revenues and costs;
- whether the company generates a profit or loss;
- cash flow, its sources and uses;
- By comparing data from the last few years, you will assess the dynamics of your business growth or decline;
- Also check the documents for any additional statements or annotations that may be important to your decision.
However, if searching through records and financial statements on your own seems too time-consuming,
it is worth using commercial tools such as rejestr.io. There you will find even more information, presented in an accessible way, including the company's ownership structure, connections with other companies, additional information from the Supervisory Commission Financial and much more.
With solid verification, you will be confident in your current or potential business partner. Choose wisely!
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