Contacts, Collaborations and Competitors – Why company data is critical

How to get the business information and contacts you need with the help of BIPC Sussex and why they’re so essential to success.

“No man is an island, entire of itself; every man is a piece of the continent, a part of the main.” (John Donne, 1623)

No person is an island, and no business is either. To attempt to strive alone is to ignore the help, support and experience of other businesses which is, we assure you, readily available.

There are many reasons a start-up or growing business should gather information about other companies. 

Firstly, if you’re considering investing, partnering or simply working with another company, you need to know how reliable and financially stable they are. Who are the directors? Have they previously run successful companies or is there a trail of short-lived disasters left in their wake?

Learning from the experiences of others is another key reason – start-ups often feel like they’re striving out blindly into the unknown, but other companies have been there, suffered what you have and found their feet, so you can take heed of their lessons instead of repeating them. 

It’s the old Google adage – whatever you search for, at least one person has been there before. Established companies will often field a question or two from a start-up on a particular subject, and happily share lessons learned. You can speak to your local chamber for a wealth of companies who will support you. 

And on the other end of the scale, companies that did not stand the test of time can be looked into as to what led to their closed doors.

Then there’s suppliers and manufacturers. Building a trusted supply chain can feel daunting to a new producer, whether you’re sourcing local ingredients for a new baking company, or machine parts for a creation you’ve just patented. Looking into companies who not only provide the supply/delivery/ manufacturing you need, but are logistically ideal, financially sound and share the same ethics as your company can be time consuming and frustrating.

And of course, there are those business customers you need to reach – if it is your company who is a manufacturer, supplier, deliverer, or perhaps HR, training, research & development and many more who deal B2B, how do you find your customers? How do you get through to new companies who are your ideal customers, and break into the established chains of long trading companies?

Finally, company data can help you understand how you are performing in comparison to your competitors. A better understanding of your competition can help you create effective strategies to improve your competitive advantage.

We have the answer to all the above questions at the BIPC on our companies’ databases that are all free to access.

FAME & Kompass Easy Business

These two fantastic online databases – FAME, which focusses on companies in the UK & Ireland, and Kompass Easy Business, which is global, will both analyse a company in detail – Who is the director? How long have they been trading? Are they financially secure? – as well as allow you to make company lists based on your specifications. Looking into how many companies have been forced to close trading since COVID began? Or how many have started since then? Perhaps how many companies have female directors? Make detailed contact lists down to the level of detail of, for instance, companies incorporated in the last 3 years in Brighton, in the fast-food industry, which have more than 10 employees – and get the contact details of the specific department in that company you need.

EMIS

Although primarily focussing on established and emerging markets and industries, this huge database, which also has a section dedicated to industry news, also contains global company information. With a different lilt of intent to the previous databases, EMIS is focussed on market research and so the companies’ function can show you not only insight into a particular company and create a company list, but also highlights company news, company comparisons, mergers & acquisitions and equities.

Local Data Online

LDO by the Local Data Company, is a very different information source. This database will concentrate on a local area – Brighton Marina, for instance – and tell you basics about the companies therein. Using the map, the locations of the bakers, florists, bars, restaurants are highlighted, informing you of the companies, the unit sizes and locations, how many are independents vs franchises and the opening & closing rates. Using the comparative functions of the site, you can also compare with easy to reference graphics data on the top 5 coffee chains across the UK, or the distribution of tea rooms and cafes in the South East.

All of these databases hold thousands of pounds of information and you can access it for free at the BIPC.

Find out more at www.brighton-hove.gov.uk/bipc or email bipc@brighton-hove.gov.uk