Commercial Background Checks
Whether you are a large company or a small business, you cannot take risks and chances with it. You wouldn’t intentionally sell a product that you know already will not appeal to your clients. You wouldn’t provide a service that tells someone this is the right thing to do always, knowing that it isn’t true. You know that you do what you can to run a clean, legitimate, business. So, why would you take a chance with your business when dealing with another company sight unseen and without knowing that they are someone you want to be associated with? We say that you should protect yourself, your assets, your business with background checks on businesses you are dealing with.
Why Consider Company Background Checks
Much the same as you try to check a potential employee before you hire them, you need to also check businesses that you hope to work with. You may look at an employee’s social media profiles, speak to their references, and more. Why wouldn’t you do the same before aligning yourself with another company name or brand?
Most of us would like to think that the person we are working with is being real with us, especially in the business world. However, you do not know everything there is about a company just by talking to them, especially in today’s world where we often end up doing business with foreign companies.
The problem then becomes uncertainty. How do you know that company’s online persona is as good as it appears? Are they in debt? Are they being sued? Most companies do not advertise or write about those types of issues. Yet, associating with them could be damaging to you in the long run.
By having someone perform a comprehensive background check, you will gain the benefits of:
- Knowing Who You Are Dealing With
- Protecting Your Own Investments
- Safeguarding the Reputation that You Have Earned
- Keeping Your Company Safe
- Generate New Business Opportunities for Yourself
You will also gain due diligence so that you have every bit of information that you need to protect yourself, your company, your employees, and more.
The last part will be most helpful if you are merging or buying a company that is already established. By gaining due diligence, you will know that you are making a good choice so that you can avoid negative repercussions. The best place to start is with a background check on any business that you are planning to do business with.
What You Will Learn from Background Checks for Businesses
First and foremost, by doing background checks on businesses, you will gain the knowledge that the one you are talking to is a legitimate company. That they offer the services that they are licensed or permitted to provide. Beyond this, it will show you valuable insights including allowing you to:
- Learn their legal status or of any proceedings that may be going on going on
- Learn that they belong to a reputable trade body
- Find out if they are creditworthy
- Learn more about its decision-makers and directors.
You will see their history and address so that you know they are not misrepresenting themselves.
You will also see through an international search, financial statements, and registries that are tied to that company.
Any of these things, if there are issues, could be potentially catastrophic for your business, your brand, your reputation, and even a loss of revenue. In some situations, it could also result in legal issues that you will have to sort through before you can rebuild your business, provided it isn’t irreparable damage in a merger or acquisition.
How Company Background Checks on Businesses Protect You
As a company, you can do certain things to try and protect yourself. This includes web searches and listening to what others have to say about the business you are dealing with. However, you will only learn the surface of what you need to know to protect yourself. A background check protects you by providing a thorough check and an analysis that will tell you in great detail, who you are dealing with, whether they are a local company or one halfway around the world from you.
With technology being what it is today, business is much simpler for most companies. However, it also opens us up to fraudulent business dealings. We urge you to cover all your bases and know what you are getting involved with before you take it on. The best way to do this is background checking any business you have the hopes of working with, whether in partnerships or merges.
Company Background Checks on Companies Go Both Ways
In the business world, nothing is ever cut and dry. If you are trying to sell, you should expect to have your background checked, and you should expect it if you are buying as well. It makes good business sense to ensure that the person we are dealing with is being upfront and honest about the deal taking place.
Consider This: What would happen if you agreed to the sale, and then in a month the buyer files bankruptcy? Wouldn’t you rather know ahead of time that the person you are selling to isn’t someone who has filed bankruptcy several times or recently? Most prospective buyers would not say that they bought a business five years ago and filed bankruptcy, making themselves look like a risk.
For this reason, before selling, you must have everything covered on your end. As a buyer, you must also be able to do the same.
Our Promise to You Regarding Business Background Checks
In business, you have to protect yourself. We understand the importance of it. We know that your business is your number one priority and what may happen to your good name if you miss an important detail. We will do our best to ensure this does not happen to you.
We will respect your confidentiality when you ask us for assistance. We will do our part to verify, analyze, and cross-reference all the information that we find in order to help you make sound business decisions using our background checks on companies. We can even work to protect you in cross-border or international situations. We do it by taking advantage of all the resources that we have available.
Talent Capital Consulting continues to grow every day thanks to the confidence our clients have in us. We cover many industries including financial, energy, business services, consumer products.