When you do the math and you simply cannot find yourself to even initiate a business credit small as it may be, maybe it is about time to employ some form of magic networks corporate credit building partner. There are a lot of corporate credit building partners that can help you with getting started with your corporate credit. Here is how we can simplify things for you.
- First is that you need to register your business at the appropriate government agency. For you to really maximize the benefits of business credit, make sure that you will be applying for an incorporated type of business and not the sole proprietorship type nor the general partnerships kind.
- Secondly, make sure that you have filed for a specific type of tax identification number which should provide the proper tax identification for your business. This is entirely different from the one you use personally.
- Thirdly, you need to open a commercial bank account, preferably a checking account in the name of your business. Make sure to open the bank account in the legal name of the business as it is identified in the business registry as well as the revenue office.
- Fourth, you need a dedicated phone line for your business. Do not mix your personal calls with legitimate business calls on a single telephone line. This also makes monitoring a lot easier as you can readily see which are business calls and which are personal ones.
- Fifth, apply for a business credit file with the leading business reporting agencies in your area. You can ask any corporate credit building partner to help you with this.
- Sixth is for you to apply for a credit card devoted solely to transactions of your business. If at all possible, choose a credit card that also reports to the credit reporting agency or agencies you filed with in step number five.
- Seventh is for you to initiate, establish, and maintain a credit line with your suppliers and vendors. You can ask them to report your transactions history, particularly your payments, to the same credit reporting agencies that you have earlier filed with.
- Lastly, and more importantly, is for you to make timely and accurate payments of your bills. Any late payments will be viewed as something negative on your business end.
We have just outlined the fundamental steps to starting a business credit for even your small business. The next step is now up to you.Full Review