Many business owners are unaware of the value of incorporation. Even fewer understand the essential steps necessary for building the kind of corporate credit that will enable them to take full advantage of their entrepreneurial status.
Incorporation makes your business entity separate from you, the business owner – a separate entity with its own liability. Incorporation separates your business assets from your personal assets. If someone decides to sue your company, they c
As much as I talk to clients about the need to establish business credit, the topic of personal credit is still front and center when it comes to business credit building. Why is that, you ask? In reality, the credit landscape has changed quite a bit in recent years due to the fact that most creditors are no longer offering business credit without a personal guarantee. In other words, your personal credit standing is an essential factor when it comes to securing capital for y
Once you've properly established your company as a credible business and setup your profiles with the business credit bureaus, now it's time to start applying for vendor trade lines. Vendor trade lines are critical to the overall strength of your business credit and can make the difference between getting approved or being denied when it comes to applying for business financing. Properly establishing vendor trade accounts will have a positive effect on the rates and terms you
There are simply too many people who hire business credit building companies that are not happy with the results. Before choosing another company, asking these 8 questions will ensure that you will be working with a legitimate company who can help you build business credit.
Why is it so important to work with knowledgeable advisor? Why can’t you do it on your own? First of all, the Fair Credit Reporting Act does not apply to the business credit bureaus. This means that if y
The idea of establishing and building a strong business credit profile isn't new and shouldn't be viewed as a profound concept. The most successful businesses in the world thrive on the equity in their brands and the creditworthiness built through corporate credit planning and years of sound business practices. That said, as a small business owner, it is critical that you understand the importance of strategic planning when it comes to building a strong corporate credit prof
In yesterday's post, I briefly mentioned the people I saw camped out in front of the local Best Buy. Well here's the rest of the story... So on my way into the store I noticed several tents pitched out front, but I didn't see anyone (maybe they were all asleep inside, who knows). But when I came out, I encountered several people sitting in lawn chairs, sipping hot beverages, just chatting away. At this point, it's around nine o'clock at night and about fifty degrees outside w