Freelancers seeking to run ‘due diligence’ checks on a company before they take it on as a client will welcome a new project by Companies House.
The UK registrar of companies says that, from April next year, it will make all of its digital data available free of charge, to both businesses and members of the public alike.
It will therefore be easier to look into the activities and ownership of companies – a process that freelancers are encouraged to do to minimise the risks of late or no payment for their services.
As well taking out the cost of due diligence (last year people spent £8.7m on accessing company records on the Companies House website), the move will also boost corporate transparency.
And creative data specialists will also be pleased. Companies House explained: “[This] will open up opportunities for entrepreneurs to come up with innovative ways of using the information.”