04/10/11

By Claire West

For the first time in Britain, company accounts data is available free of charge online to members of The SME Hub (www.thesmehub.com). This will further boost growth at the UK’s fastest growing small and medium-sized business (SME) member organisation, which is free to join, and is currently expanding at a rate of more than a thousand members every day.

From today members will be able to quickly and easily 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 cashflow for any limited company, LLP or PLC. A simple graph at the top provides a quick insight into the health of the company and all the information can be downloaded as a pdf.

This new member service from The SME Hub is powered by Creditsafe, the leading online provider of business and consumer credit reports. Members that require an in-depth credit report or seek information on company directors will be able to purchase this information through Creditsafe.

Dave Sumner Smith, Programme Director of The SME Hub, said:

“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.

“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