Business background check - it pays to know someone else's business

Top Stories

»	PLI scheme has attracted Rs 1.46 lakh crore investment, created 9.5 lakh jobs
»	Centre pays Rs 4,820 crore to 2.75 lakh farmers for pulses under MSP scheme
»	India's private sector growth surges to 4-month high in Dec: Report
»	Govt inks Rs 13,500 crore deal for 12 Sukhoi fighter jets with HAL in big boost to self-reliance
»	Over 2.2 crore women-owned MSMEs registered under govt scheme in last 4 years: Minister

Matthew Bass | 19 Aug, 2008
So what is business background check really all about? The following report includes some fascinating information about business background check - info you can use, not just the old stuff they used to tell you.

You've got work to do and have to hire a business to do it. Whether it is a contractor to work on home improvement projects or you plan to build a swimming pool, you want to make sure you pick the right business to do the job for you. That is why a business background check will help you in your decision. You can find out if the company you are dealing with is a fly-by-night type of operation or a company with integrity.

If you have got the time and patience, you can conduct your own business background check. The internet holds all sorts of information, just waiting to be discovered. However, you have to know where to look. The most common place to start is your local Better Business Bureau, especially if it is a locally owned business. The Better Business Bureau can help you verify the company's address and company officers. As part of your business background check, they can also tell you if there have been complaints against the company and if the issues were resolved or not.

Another step in your business background check is typing a simple search in an internet search engine. You can find any mention of the company you want to do business with, from their accomplishments to financial information. If you have the company's Federal Employer Identification Number (FEIN), you can find out much more in your quest for a business background check. For instance, that number could be run through the Secretary of State website and you can find out about the company's officers, financial information and incorporation information. You can find out if the company had done business under another name too.

Hopefully the information presented so far has been applicable. You might also want to consider the following:

The Federal Employer Identification Number can also be run through Dun and Bradstreet's database to find out even more financial information. Armed with your newfound knowledge, you can make a big dent into your business background check. Now, you can find out a bunch of information on your own as well as pay nominal fees for access into certain databases. Or, you can hire an investigator or an online corporation who specializes in the business background check. So how do you know if THAT online business is trustworthy? Look for the online Better Business Bureau emblem on their website.

What information do you really need to ensure that the company is one you want to do business with? In the business background check, you can find out if the company pays their taxes on time. Have they ever been sued for some type of business malpractice? What is their work ethic? How do they treat their employees? Do they have proper licensing to conduct business? With a business background check, you can determine all that information and more.

Just remember, you have only yourself to blame if the business you conduct with this company without going through all the business background check procedures bombs out and you lose money. It pays in the long run to spend forth the time and effort now in a business background check.

There's no doubt that the topic of business background check can be fascinating. If you still have unanswered questions about business background check, you may find what you're looking for in the next article.