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Protect Yourself with a Business Background Check

Aug 17, 2007
When most people think of a business background check, what comes to mind is usually basic information that's not particularly interesting or beneficial. But there's a lot more to a business background check than just the basics.

No one wants to be cheated in a business deal do they? However, it almost seems that some people beg to be ripped off because they do not take the time to make a few simple inquiries into the business they plan to deal with. The only person taking care of your interests is you, so no one else is to blame if you are scammed on a business deal. To turn the tide in your favor however, you can run a business background check and see if a company's business practices are on the up and up.

So what are some instances when running a business background check might be beneficial to you? Home improvement issues where hiring a contractor to perform a service is usually one of the most popular reasons. Because there are literally hundreds of contractors with different types of specialties, it is almost impossible to know who is legitimate and who is not. By conducting a business background check, you can set your mind at ease knowing whether or not your contractor will give you a fair deal, finish the job and not run off with your money.

The first step in a business background check would be with your local Better Business Bureau. Chances are that if your potential contractor swindled someone else or did a shoddy job, there would be a report about it filed. The great thing about the Better Business Bureau is that their reports when conducting your business background check will have who the company officers are, when they opened for business, how many complaints they've had against them and how many complaints were resolved.

Truthfully, the only difference between you and business background check experts is time. If you'll invest a little more time in reading, you'll be that much nearer to expert status when it comes to business background check.

When you plan to spend a significant amount of money, like investments in stocks or real estate, your business background check should be more in depth. You can do some investigating on your own via the internet first. And if you are still not satisfied or are leery with the results, then a professional investigator or online research company can help. Sure, paying someone else to do a business background check costs money, but that is nothing compared to if you are conned for thousands of dollars down the road.

When conducting your own business background check, start with the major internet search engines. See what your search pulls up- news reports, customer testimonials, quarterly earnings, etc. Run a search using the business's Federal Employer Identification Number (FEIN). Search county records for proof of professional and business licensing. You are looking for proof that the business is legitimate and that they are who they say they are.

When running a business background check on your own, it can be a time consuming process. There are numerous places online that will do all the work for you for a certain fee. You can also hire a private investigator in your local area, if you rather deal with a live person. Often times, hiring someone else to do the business background check for you will yield far greater results that what you can come up with on your own.

The day will come when you can use something you read about here to have a beneficial impact. Then you'll be glad you took the time to learn more about a business background check.
About the Author
Matthew Bass is the publisher of BackgroundCheckWizard.com He also provides information on Tenant Background Checks that you can research at your leisure.
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