Why it is Important to Establish Business Credit Early by Aminah Knowles
Building business credit is probably the most important thing to prioritize for business owners. Many startups depend on the use of their own personal assets to secure their funding. This is because they want to increase their creditworthiness. But today, building business credit is preferred by most business owners. The National Small Business Association has surveyed and as much as 27% of businesses claimed that they weren’t able to receive the funding that they needed. For many businesses, the impact of the lack of funding was stopping them from growing their business. Unfortunately, one cannot build a successful business and business credit without having a good credit history. Creditors will be reviewing your credit scores, and if they have nothing to review, they won’t know the risk they are putting their-selves into, worse than that is you will definitely not be approved. You might have heard somewhere that building business credit does not matter. If that’s true, then