Knowledge is power and from the second quarter of 2015 business intel will be easier to access. Companies House took £8.7 million last year (2013/14) from customers accessing company information (such as annual returns, accounts and articles of association) from its website. Whilst it will lose this revenue when free access comes into force, it is hoped that this will be outweighed by improved corporate transparency and increased opportunities for smart entrepreneurs to make the most of the public information available to them.
Giving businesspeople better insight into companies they work with or want to work with, and indeed competitors, will increase their knowledge base and help them make the right decisions in the marketplace. The information is publicly available; this move will simply improve accessibility, meaning those with the nous can make the most of Companies House.
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The information provided in this article is for general information purposes only and does not constitute legal or other professional advice and cannot be relied upon as such. Any law quoted in this article is correct as at 16 July 2014. Appropriate legal advice should be sought for specific circumstances before any action is taken. Copyright © Murrell Associates Limited, July 2014.