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Business Monitoring Service – FAQsWhat does the Business Monitoring Service do? What is the scope of the changes that are monitored? Why should I monitor my business? I’ve heard a lot about corporate ID theft and fraud; can Business Status Monitoring help with this? How much will Business Status Monitoring cost me? I’ve seen similar services elsewhere, why should I use this one? Doesn’t a third-party need my permission to access all this information? Will Business Status Monitoring, monitor both incorporated and unincorporated business? What if I’m away, can I divert emails somewhere else? What does the Business Monitoring Service do? If you sign up to the service, it will monitor UK businesses for daily changes in key business data and will email these changes to your inbox (and up to four colleagues). Information is drawn from credit agencies, the courts and Companies House. What is the scope of the changes that are monitored? A full list of changes monitored are listed below Limited companies
Non-limited businesses
Why should I monitor my own business? You know your business, but how do others see it? Would you know if incorrect information about your business was in the public domain? Your customers, suppliers and competitors monitor your business for signs of financial changes or unexpected activity. An indication of any of these could have a detrimental effect on your business. Your business must respond quickly to counter any possible concerns and must look from the outside in to see the perspective of others. Concerns must be dealt with quickly and effectively. The Business Monitoring Service’s advice line can help you with such matters. I have heard a lot about corporate ID theft and fraud; can the Business Monitoring Service help with this? There are no guarantees, but there are many examples of the Business Monitoring Service helping to identify this by highlighting unexpected changes in business details. How much will the Business Monitoring Service cost me? As a member of the FPB, you can monitor up to 6 businesses per year through the service, at no cost to you. You can monitor additional businesses at a cost of £15 per five businesses. If you wish to monitor a large number of businesses, you can do so at a discounted rate. I have seen similar services elsewhere, so why should I use this one? Unlike other services of a similar nature, with the Business Monitoring Service there is no need to logon or to go online to receive information. Once you have registered for the service, your email alerts will contain all the information that you need regarding changes that have been identified. Add to this the Business Monitoring Service’s advice line, providing guidance on and solutions to changes identified, you will soon see that there is little to compare. Doesn’t a third-party need my permission to access all of this information? No, all of the information is in the public domain. Will the Business Monitoring Service monitor both incorporated and unincorporated business? Yes, it will. By virtue of its registration at Companies House, there are more changes that can be monitored for an incorporated entity. What if I am away from the office, can I divert emails elsewhere? We can send the email alerts to up to five addresses, so alerts should never be missed. 
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