Obtaining credit for a business is critical so that they can borrow additional funds if needed. Establishing and building business credit is essential for any business owner, whether they are looking to expand and grow their company with financing or even if they don’t intend on utilizing any financing. By establishing a good credit history with lenders, you can access the capital you need to finance your operations, purchase inventory and supplies, and expand your business. There are several things you can do to build strong bu...
Obtaining credit for a business is critical so that they can borrow additional funds if needed. Establishing and building business credit is essential for any business owner, whether they are looking to expand and grow their company with financing or even if they don’t intend on utilizing any financing. By establishing a good credit history with lenders, you can access the capital you need to finance your operations, purchase inventory and supplies, and expand your business. There are several things you can do to build strong business credit, but before you can establish any business credit, you need to make sure your business is structured properly. In today's podcast episode, I am outlining not only the very first step you need to take so that you can start building your credit profile but also a few other important steps you need to take to build credit for your business. Establishing and building credit for your business is something you will build over time, and it doesn’t matter if you are starting a business or side hustle, you’re a self-employed individual, a solopreneur, entrepreneur, mompreneur, freelancer, small business owner, a remote, virtual, online, or in-house bookkeeper or accountant, a virtual assistant or VA, or other professional good credit has many positive impacts for your business. If you need to establish or build credit in your business, you'll want to implement these steps early in your business. Building credit for your business takes time, and the sooner you start, the more time you'll have to generate transactions that build your credit. It doesn't matter if you are using a computerized software system like QuickBooks, Xero, Wave, or FreshBooks for your business finances or if you are doing your bookkeeping manually with an Excel spreadsheet or even a Google document, this episode will provide steps for you to ensure your business is building business credit…
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