What are Business Records?

Anyone can own a business these days. Determining whether or not someone’s business is legitimate, though, can be difficult. Don’t simply rely on word of mouth when you’re looking for someone with whom to partner. Instead, use PeopleFinders to try and learn more.

Learn More About Business Records

One of the best ways to learn more about a business is to access its public business records. Business records are documents that relay information about meetings, employment, accounting, and more. A business will have to work with multiple variations of these records. They’ll include:

• Accounting Records – Accounting records help a business owner keep track of their expenses over the course of a fiscal year. When you find accounting records through PeopleFinders, you’ll not only be able to determine how much a business has spent over the past year, but also their annual income and their equity.
• Bank Statements – Bank statements, like accounting records, relay financial information about a business to you. When you find a business’s bank statement through PeopleFinders, you’ll be able to verify the information given to you by that business’s accounting records. You’ll also be able to determine how the business in question divides its savings, checking, investments, and credit cards.
• Legal Documents – Different businesses will have different legal documents affiliated with them. For example, a business that operates under a unique business structure will have to apply for different legal assessments than others. Incorporated companies are among these businesses, as CEOs or applicable affiliates need to apply for articles of incorporation. Small business owners need to have their own unique business documents on hand. When you find these documents through PeopleFinders, you’ll be able to verify the status of the business you’re searching as well as whether or not they’re above board.
• Permits and Licenses – Likewise, different businesses may require different permits and licenses. For example, brick-and-mortar businesses operating out of storefronts may need rental permits. Alternatively, a start-up restaurant will need a liquor license to sell wine, beer or other spirits. Without proof of these permits or licenses, a business can go under or an owner can be discredited. This kind of documentation, when it shows up via PeopleFinders, helps to verify that a business is operating legally.
• Insurance Documents – Businesses of all sizes need to have insurance documents on hand. These documents break down into categories of their own, all of which are meant to help protect the business in case of an emergency. Regardless of the type of insurance in play, though, a business will need its proof of financial responsibility on file with a provider. Without that proof, a business’s representatives won’t be able to use their coverage should an emergency arise.

How Long Do Businesses Keep Their Business Records?

You should be able to find any and all public business records when you search for a business or its affiliates through PeopleFinders. However, each business needs to update its records based on varying time frames. These frames break down as follows:

• Tax records, time sheets, wages, pensions, tax deposits, benefits and tips must stay on record for four years at a time and be updated on a yearly cycle.
• Employee files need to stay on file for seven years, even if the applicable employee no longer works for the business. These files need to be updated every time a new employee is hired.
• Job applications need to be retained for at least three years, regardless of whether or not the applicant in question was hired.
• Business formation documents, by-laws and stock information needs to be updated quarterly and should remain on file for the entirety of the business’s existence.
• Any collaboration with a third-party accountant needs to remain on file for up to seven years. This information should be updated as the business continues to work with the applicable accountant or others in his or her field.
• Bank statements, credit card statements and other bank-related information needs to remain on file for seven years and should be updated every fiscal quarter.

Note that, as long as the aforementioned information remains in the public eye, PeopleFinders’ search should turn it out. However, you’ll want to ensure that the information you’re reading is up-to-date before coming to any decisions about the business for which you searched.

Using PeopleFinders to Assess Business Records

When you use PeopleFinders, you should be able to assess a person’s business records with ease. As long as the records are still on file and current, you’ll be able to learn everything there is to know – and that’s publicly available – about your subject of choice.

If you want to learn more about a business owner, use the following steps to verify their identity and their connection to their business.

Collect Your Information

Before you get started, you’ll need to have the right information to input into PeopleFinders’ archives. There are several different ways you can gather this information, but without it, you’ll not be able to complete your search.

To search for a business owner or affiliate with PeopleFinders, you’ll need:

• An email address
• A cell phone number
• A first and last name
• A location or address

If you’ve exchanged emails with your subject, you’ll probably have the bulk of this information on hand. Alternatively, you can do a bit of digging online to try and find your subject’s social media profile. A cell phone number may be difficult to come by if you haven’t spoken with your subject. But should you have access to one, you can find the person’s available business records with just a few clicks.

Search for the Right Subject

With the proper information, you’ll be ready to start your business records search with PeopleFinders. Naturally, some of the aforementioned information will make your search easier than other bits of data. For example, a phone number will trace you straight to your preferred subject, as will an email address. All you have to do is input the information and click “search.”

However, if you’re searching by location or name, you may have to sort through unrelated options. This takes a bit of time, but with PeopleFinders’ search refinement tools, you should be able to get to the appropriate records. The best thing you can do is include as much information in your search as possible. The more you can narrow down your search, the better.

If you feel like your subject isn’t present in the archives, don’t abandon your search. Continue to fiddle with your details. You may have spelled your subject’s name wrong, for example, or incorrectly input their address. Double-check your data repeatedly if your search is coming up empty. Given the millions of records available through PeopleFinders, the right search should bring up something about the person you’re looking for. (If not, you can contact the Customer Care Team to try and find out why.)

Read the Available Files

Once you’ve found the right person, you’re good to go. You’ll be able to dive into your subject’s business history and see what kind of records they’ve been filing with their local and federal government. With a little bit of digging, you’ll be able to determine just how honest your subject has been about their success.

Stay Informed

Don’t worry about experimenting with your searches after you’ve found the data you’re looking for. When you search with PeopleFinders, you’ll be provided with every record there is available with your subject’s name, number or address. Once you start searching through PeopleFinders, you’ll feel more confident in the people you work with.

From there, it’ll be all the more fun to search for the people you know – or even yourself. Find out what’s online - and who’s telling the truth - today.