There is a lot you can do to assess your competitors. Once you have determined where they are based, you can then use the services offered by Kompass to identify individual competitors - from their web address, check their online presence - and then assess their financial standing by using First Report's Credit Reports (Starting at £19:95, but depending on volumes, these can cost as little as 40 pence + VAT per report).
The resources indicated here can be used to:
Kompass Free Web Search
Searching By Industry Sector:
You can search by: Name, Activity Sector and/or Location e.g. City .....
The initial search results will then provide you with options to further refine your search.
Searching By Product:
At the top left of the page you can also choose to browse by Product:
You can then refine the search by Product Sector:
Whichever option you chose, you can then review the profile of each company found - and contact them e.g.
Kompass Direct Bespoke List Service
Using the same online interface as the free service, use the search criteria to create your own tailored target list for downloading. Prices on request - but mention that you saw this service here to be given a 10% discount. (The price for the file containing your target list is shown before you buy.)
*N.B. If you just need a list of a few hundred companies, this is an economic alternative to EasyBusiness. However, if you need heavier access to the Kompass database, then you should consider subscribing to EasyBusiness.
Kompass Global EasyBusiness
EasyBusiness will help you find the right competitor leads:
See the videos:
Pricing:
UK, Europe, Worldwide or bespoke country packs available – prices start from just £1,495 plus vat for a full 12 months access. (Mention that you the service here and you will be given a 10% discount.)
Check Any UK Company's Credit Report Instantly - For an in-depth analysis.
(For international companies, see below.)
UK Credit Report Types
First Report provides 3 Levels of UK Reports:
(To see the differences between the Reports, click on the above links.)
All UK Credit Reports are delivered online.
N.B. First Report is giving a Free Credit Analyst Report on your own company. Just call FreePhone 0800 970 8755 between 8am and 6pm Monday to Friday and they will send your report within a few minutes. Nothing to sign up to, no obligation, just an opportunity to see how good the reports are.
First Report's Credit Scores and Credit Reports of your Competitors.
At the heart of the Credit Reports are the (i) Maximum Level of Credit Recommendation and (ii) Risk Score, which provide you with an overview of the level of financial risk involved in working with the subject company.
UK Credit Scores
The scores are currently banded as follows:
Any score below 30 automatically is awarded a ZERO credit score*.
Once the Commercial Credit score has been established a Credit Rating and Credit Limit are then assigned.
*A UK credit risk score is determined using numerical ratings. However, sometimes no score is available which could mean the business has stopped trading, hasn’t filed any accounts, has accounts that are too old or are simply too new and therefore there isn't enough information to be able to calculate a score.
Monitor Alerts
Once you have bought a Credit Report you will also receive - at no extra cost - Monitor Alerts by email for that company. (N.B. You must indicate in your dashboard that you want to receive Alerts for the company in question.) The headline reasons for a Monitor Alert being instigated:
UK Price Tariffs
Pay-As-You-Go
First Report pricing is based on the concept of Credits and the more Credits you buy the cheaper they are e.g.
Credit Reports are priced in "Credits" - the lowest cost being 1 Credit for a UK Basic Credit Report.
Licences
An alternative to buying single Credits is to buy a licence. There are no catches and no automatic renewal. There are different licencing levels e.g.
If you wish to change to a discount package after opening an account, the cost of any UK Report Credits purchased when opening an account can be refunded against the price of your package (so that any Credits you purchase now will essentially be free).
All prices are net of VAT.
All UK Report Credits also include First Report's free debt recovery service. You can select from a choice of debt recovery letters which start with polite but clear requests for payment, through to a Notice of Proceedings. Clients report over 80% of amounts due are settled within 14 days.
International Reports
First Report offers reports from over 200 countries and employs the best agents available in each country/region/area. The on-line reports are automatically updated the moment new and verified data is available assuring the latest report is always sent to you.
Credit Reports for: Belgium, Czech Republic, Denmark, France, Germany, Ireland (Eire), Italy, Japan, Luxembourg, Mexico, Netherlands, Norway, Portugal, Spain, Sweden, Switzerland and USA are delivered online. For all other countries, offline reports can be provided within 2-10 days according to the speed requested when placing your order.
First Reports' on-line International credit reports sometimes have letter in place to determine the given risk. The chart below shows how the risk is scored:
Where the risk is shown as a number it is normally scored out of 100 where the lowest risk is the highest number. If the score is not made out of 100 the score would usually be shown as for example 5/10.
International Price Tariffs
These are based on International Credits per Report with a single International Credit costing £9.00 (+VAT)
The minimum cost for an International Report is 5 International Credits.
For further details and explanations covering the details behind the Credit Report analyses and Credit Score calculations see First Report's FAQs. - If you would like to discuss anything with First Report by telephone then you can call FreePhone 0800 716998 or +44 (0)344 414 4014 Monday to Friday during UK Business Hours - or visit First Report and chat online (again during UK business hours).