Privately owned businesses are not required to file public financial reports. Most small businesses fall into this category. While individual company financials are scarce, however, they are on tax returns. By the time it is released to the public, government financial data on small and large business operations lags two to three or more years behind data accessible from private sector databases.
On the other hand, the information that can be gleaned from government reporting is comprehensive and accurate. All businesses are included and legally pledge that submissions are accurate.