Checking a company

814man

Currently working for NHS but have opportunity to move to private sector IT job. I hear people say that before going to work for a company you should check them out. I understand the need for this, I dont want to start at a company who then go bust a year later, but practically what can you actually do? I have read through their own web site and done some searches but how do I actually go about finding out if they are doing well or heading for financial problems?

falko89

http://www.cdrex.com/
http://companycheck.co.uk/index.php

Thats a couple to get you started

Lovelyjoolz

Unfortunately, I just don't know how you could find out how financially stable a private company is, because it's not public knowledge. You could apply to Companies House for a copy of their accounts, but unless you understand how to read a balance sheet, it won't tell you much. And a balance sheet is all you'll get as the profit & loss is not public information.

Better, perhaps, for you to consider the sector they are in. Is it a sector that is growing (like Caring) or still in recession (construction)? How long has it been trading for? Questions like this can be asked at interview.

InsideInsurance

You also need to understand the market, looking at all the small software houses that supply specialist application into the london insurance market and their books will always look very slim pickings but it is a nature of the business and many have been around for decades like that and all the directors are going around in their Aston Martins so evidently not doing too bad.

Actually there is really little you can do. You can buy credit reports into companies but then again the RBS credit reports were all very strong up until the day the government had to buy 80%+ of it to prevent it going bust.

Ideally you would speak to people who are in the know in the industry who would at least have an idea how their competitors reputation is doing.