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With an economy that's struggling, every small business owner is looking for new ways to increase profits, save money and improve efficiency.
The good news is there are plenty of ideas that you can find in books and articles. But rather than cover the obvious ones, in today's tough economy you need new and creative ways to save.
Consider the following ten money-saving ideas for your business:
1) Go paperless - You can lower storage costs, printing costs and improve overall efficiency by...
•Need Micro Business Loans? Try A Micro Loan Credit Card
Need Micro Business Loans? Try A Micro Loan Credit Card Looking for a small loan for your business?
Tired of dealing with traditional lenders that ask for collateral, tax returns, balance sheets and pretty much everything under the sun?
While micro business loans have become a viable alternative for small business owners there's a new type of micro loan credit card that lenders have been introducing into the marketplace. This is another option for small business owners that is much...
•Don't Know How to Sell a Company? Build a Business That Can Thrive Without You!
Don't Know How to Sell a Company? Build a Business That Can Thrive Without You! Is your business in a position to survive and thrive without you? Are you building a sellable business?
According to John Warrilow author of Built to Sell, the number one mistake entrepreneurs make is to build a business that relies too heavily on them. So when it comes time to sell, buyers aren't confident that the company can stand on its own.
Recently, I had the privilege to speak with John and asked...
•Will 80 Paydex Scores Really Open the Credit Floodgates?
? Achieve an 80 paydex score and your business will be able to qualify for all the credit it needs.
Have you ever heard that statement before?
It's by far the most misleading and misguided advice circulating the industry and unfortunately too many small business owners are buying into this misinformation.
In this post let's shed some light on this very issue so you can gain a much better understanding of what to expect during the credit granting process.
First, in order to get a Paydex...
•Top 3 Secured Credit Cards That Rebuild Credit
Looking for the best secured credit cards that rebuild credit?
Did you know that not all secured credit cards report to all three major credit agencies?
Whether you are looking to rebuild credit after bankruptcy or recover from past credit problems taking the time to understand the process is just as important as the process itself.
If you truly want to make the most positive impact to your credit reports then you should avoid high risk lenders at all costs no matter how enticing their...
•Small Business Calculators:Top 10 Free Calculators Every Entrepreneur Should Have
How much money do you need to start your business?
Should you get a loan, line of credit, or credit card?
How will you decide the effectiveness of your marketing campaigns?
These are just a few of the key questions that successful startups and growing companies ask so they can make confident financial decisions.
Are you prepared to answer questions like these? Do you have a system in place or tools that can help you get the answers you're looking for?
Not to worry because whether you're...
•Business Credit Building: Top 10 Business Credit Tips For 2011
As we celebrate the New Year let's take some time to review a few important business credit building strategies that can put your company on the path to creditworthiness. I'm sure there have been plenty of lessons that you've learned from in the past twelve months but what steps are you planning to take in 2011?
Here are my top twenty business credit building tips:
Tip #1
Get listed with all three major business credit reporting agencies - This is a major factor for a lender or supplier to...
•Business Credit Reporting Agency: How To Register With The Business Credit Bureaus
Is your company listed with the top three major business credit bureaus?
Do you know that there are over thirty business credit reporting agencies in the United States?
With so many companies in the business of collecting commercial information it can be quite a challenge deciding which ones are most important for your company to get listed with. What's most important is to first determine which bureaus do the majority of suppliers, creditors, and lenders pull their reports from.
For...
•Small Business Finance: The Two Most Important Words in Small Business Finance
By the end of this article, you will have more knowledge as a small business owner, all because you learned two very important words, and the specific reasons why those words are so vital.
Both words can impact you and your company in a variety of ways depending on how you structure, plan, and implement some key corporate strategies.
Whether you run a business from home or lease office space it's inevitable that you will eventually need some type of small business financing. Whether it's in...
•Building Business Credit: 20 Essential Questions to Focus On
Do you know where your company stands in the business credit building process?
One of the most important things you should first learn to do is ask the right questions. One of the classic mistakes that many small business owners tend to make is moving forward in establishing credit for their business without having the proper framework in place.
Instead you can end up feeling scattered and spend lots of time trying to back track and correct mistakes you've made. These mistakes can cost you...
•Top 25 Small Business Banks and Credit Unions On Twitter
Does your business account with your bank or credit union have an active Twitter feed?
Would you find it extremely helpful if your bank engaged with you on Twitter and answered questions and/or issues you have regarding your account?
Do you think regular updates of events, special deals, new bank products, tools, and other helpful information would be of value to your business?
Well the good news is many financial institutions are jumping on the micro-blogging platform known as Twitter but...
•Top 25 Small Business Tips from Leading Industry Experts in the U.S.
Could you use some helpful small business tips to grow your company?
I'm sure you can, and what better way to help small business owners like you then to share some of my favorite tips from our country's top industry experts in their respective fields.
Below you will find a personal collection of some of my favorite golden nuggets from the country's brightest minds in the areas of startups, small business, corporate finance, credit, internet marketing, social media marketing, blogging,...
•Fund an Idea without Using Venture Capital, Angel Investors or Banks
Do you have a creative idea or project that needs funding?
Is keeping 100% ownership and control over your work sound good to you?
The good news is there's now a way to fund an idea without having to rely on the traditional sources of financing such as venture capitalists, angel investors, or banks.
Let's face it in today's economic environment entrepreneurs need a new form of funding and patronage that can support their creative ideas and projects.
So what is it?
It's called crowd...
•Finance Your Startup: Are You Using Your Personal Credit? You're Not Alone
Finance Your Startup: Are You Using Your Personal Credit? You're Not Alone Did you finance your startup using money from your personal savings? How about your personal credit cards? Or did you end up borrowing some money from friends or family members?
No matter what way you chose to get the cash needed to launch your business you're not the only one. Many of the most successful businesses you see today got started the very same way.
Did you know that billionaire Richard Branson, founder...
•Apply for a Business Credit Card: 7 Major Mistakes to Avoid
At one point or another a small business owner will need to apply for a business credit card. While there are different types of cards to choose from each one has its own strengths and weaknesses.
One of the major factors that can have a serious impact on you personally is what is written in the fine print. Even though you are applying for a business credit card for your company the terms and conditions are what matter most.
Every small business owner should be aware of certain errors to...
•Top 25 Websites for Small Business Help
With the large amount of information and resources available on the internet it can be quite a challenge for entrepreneurs and small business owners to find the small business help they need.
From deciding whether to start a business, setting up or acquiring a business, raising capital, acquiring credit, marketing, social media marketing, working with customers, growing your business, working online, selling online and much more it's vital to have access to resources you can depend on.
Below...
•Incorporate Your Business: How to Protect Your Company
If you're launching a new business it can be tempting to decide on operating your startup as a sole proprietorship simply because it's one of the easiest structures to create because you don't have to do anything to start one.
You just decide to run your business in your own personal name or through a fictitious name. You don't even have to set up a separate bank account or maintain business records but I strongly suggest that you do.
This particular structure is also called a Schedule C...
•Commercial Credit Cards: 7 Key Steps Before Signing the Dotted Line
Major credit card issuers are purposely targeting small business owners in an all out effort to expand its commercial credit card business.
According to Synovate, issuers sent out a whopping 46 million commercial credit card offers in just the first quarter of 2010! That's over a 250% increase from the previous year while consumer credit card offers only increased by 29%.
With the size of these numbers it's led people like Senator Charles Schumer to believe that credit card issuers are...
•Building Company Credit: It's a Journey Not a Destination
What should you expect when building company credit? How long should it take to obtain the financing your business needs?
There's no cookie cutter answer to these questions because every company is different and has its own unique contributing factors. For example, a five year old company will have greater business credit opportunities than a company that just opened its doors a month ago.
In addition, the credit needs for every business will continue to change as the business expands and...
•6 Major Types of Business Credit Applications
Before you begin applying for credit it's important to determine what strengths and weaknesses your business brings to the table.
Are you a startup or have you been in business for several years?
Do you have projected revenues or actual revenues coming in year after year?
Does your company process credit cards on a monthly basis? If so, how much volume?
Are you struggling with poor personal credit or do you have strong credit scores?
Does your company have any assets or are you relying on...
•Are Credit Report Inquiries Damaging Your Credit Score?
? Out of the eighty eight negative rating factors that can hurt your credit score one in particular that I would like to cover in this article are inquiries.
In the credit scoring system inquiries are given two types of classifications one being 'soft inquiries' and the other 'hard inquiries'. Let's cover these two in detail:
*Soft Inquiries
These inquiries do not affect your credit score so don't be alarmed if you see a lot of these on your credit file.
There are three main types of credit...
•Financing for Business: The Top 7 Deal Makers or Deal Breakers
If you plan on applying for business financing there are a couple of key points that you should take into consideration before taking the leap.
Getting approved for a loan these days requires careful planning and preparation on your part.
Lenders have certain expectations and underwriting criteria they have to meet so the better you come prepared the greater the chances of approval.
Here are my Top 7 Deal Makers or Deal Breakers in Financing for Business:
*Credit - Lenders will evaluate...
•Business Credit Score: How to Maximize Your Company Scores
Let's suppose for a moment that you've taken a few steps necessary to establish business credit for your company. You got approved for a line of credit with a few suppliers, made purchases, paid your invoices and see the payment experience listed on your business credit report.
After seeing your business credit score you decide to jump into the big leagues and apply for a business credit card without supplying a personal credit check or personal guarantee.
You're shocked to find out that...
•Business Credit Bureau: How to Check Your Business Credit Reports
As a business owner it's important for you to understand the integral role that a business credit bureau plays in the world of business finance.
The data it collects on your business can impact whether or not your application for credit is approved or declined, the rate of interest your company will pay and even the amount of credit you can obtain.
Not to mention it also can determine whether or not you will have to provide a personal guarantee with certain creditors.
In simple words, a...
•411 Listing: What's All the Fuss About Obtaining a 411 Business Listing?
? Why is getting your business listed in the 411 directory such a vital part of the business credit building process?
Does it really matter whether or not your company is in the White Pages or registered with Directory Assistance?
Absolutely!
As a matter of fact you can expect to have a much more difficult time getting approved for business credit without one.
The reason is when applying for credit with a supplier or creditor one of the very first things checked to verify the legitimacy of...
•In Search of the Best Small Business Credit Card?
? As a small business owner it can be quite a challenge deciding what the best small business credit card is that best serves the needs of your company. Without a complete understanding of all the types of cards that are available it's easy to make a mistake.
In this article I hope to give you better insight into all the types of business credit cards that are available in the marketplace.
Each card has its own unique purpose and can benefit your business in many ways. So it's not uncommon...
•Unsecured Line of Business Credit: Qualify without a Personal Credit or Guarantee
Imagine having access to cash for your business at any time without having to provide a personal credit check, personal guarantee or collateral to qualify for it?
What if this unsecured line of business credit had no fixed payments and can be accessed anywhere credit cards are accepted?
What if every positive payment you made with this line of credit reported to the major business credit bureaus like Dun and Bradstreet, Experian and Lexis Nexis?
Sound too good be true?
Well, it's not and I...
•Startup Business Financing: How to Find Funding for your New Small Business
Having a tough time finding funding for your new small business? It's no secret that one of the main reasons businesses fail is lack of capital.
So to help better prepare yourself for success in your new business venture I've put together a few tips and funding options you may find useful.
One of the key things you should first determine is how much funding you need to not only start your business but also stay in business too. Don't make the mistake of underestimating these numbers by...
•Business Debit Card: More Than a Checkbook and Better Than the ATM Card
Opening a small business bank account is a vital part of running a business. I'm sure you're familiar with online banking and overdraft protection but let's cover the key advantages of the business debit card also known as the business check card.
While checkbooks will always play a part in your business the faster and more convenient way to make company purchases, track expenses, and manage finances is with a business debit card.
This card works like your business checkbook and each time...
•Fair Credit Act: FACT Act Furnisher Rules Go In Effect on July 1st
Last year the FTC and federal banking agencies passed the Fair and Accurate Credit Transactions Act Furnisher Rules which imposes major new responsibilities for lenders, servicers, collectors and other financial institutions that report information to consumer credit bureaus like Transunion, Equifax and Experian.
On July 1st, 2010 these new rules go into effect and needless to say they are long overdue. Here's a quick overview of what it consists of:
Accuracy and Integrity Rule
This new...
•Build Business Credit: Protect the Corporate Veil and Avoid Co Mingling Assets
Setting up a corporation helps shield your personal assets and personal liability for the debts or actions of your business. It's treated as a separate legal entity and you must treat it as such which includes avoiding the co mingling of funds, assets and credit files.
One of the important reasons to build business credit that gets overlooked the most is protection of the corporate veil.
Unfortunately, corporate veil piercing is the most litigated issue in corporate law today and is more...
•Social Loans Offer Lifelines to Entrepreneurs
With entrepreneurism on the rise more and more small business owners are discovering that social lending is the funding lifeline their new business needs.
Instead of dealing with all the red tape that traditional lenders require for a loan, social lending provides individuals an opportunity to borrow and lend money to each other. This whole process removes boundaries and empowers entrepreneurs from all walks of life to borrow or invest in each other.
While social loans itself is not a new...
•Funding a Business: How Much Risk Do You Present to a Lender?
? Funding a business requires careful planning and in order to maximize your financing potential I encourage you to develop a well prepared business plan.
This will not only help guide your company but also provide potential lenders or investors an in-depth review of how you plan to become profitable in your new venture.
I have assembled a few of the key factors lenders use to determine the risk level of a borrower that should help prepare you for the road ahead.
Let's cover these four key...
•Business Credit vs. Personal Credit: And the Winner is?
? I'm sure we can agree that for far too long small business owners have relied on the strength of their personal credit to dictate their ability to obtain funding for their businesses.
Unfortunately this dependence can be easily avoided if more business owners knew about the advantages that business credit provides.
To provide some insight I have assembled some of the major advantages of business credit compared to personal credit that I know will get your attention:
Social Security vs....
•Loans for Small Business: Which Type of Loan Works Best?
? If you're looking for a loan to expand your business, purchase equipment, buy inventory or increase working capital than this article will provide some helpful information.
First, before you begin looking for a loan it's worth the time to fully understand the types of loans for small business that are available to you. Each type has its pros and cons and it really depends on your particular situation.
Here is a breakdown of the most common loan types for small business:
Term Loans
This is...
•Business Credit: No Personal Credit or Guarantees
Business Credit is borrowed money that your company can use to purchase products or services it needs and repay the funds at an agreed upon date or time frame. It can also refer to the amount of funding your business can secure without the use of personal assets.
The great news for you is that businesses of all sizes and entity types have the ability to establish its own corporate credit identity completely separate from that of its owners.
Unfortunately the majority entrepreneurs are not...
•How to Structure P2P Loans with People You Know
Whether you are in search of financing to launch a business, purchase equipment or inventory or simply looking to expand your operations obtaining the funds you need may be a difficult task if you are relying on traditional sources like banks.
Many small business owners have adapted to these new challenges and have found creative funding alternatives like microfinance loans, peer to peer loans and factoring.
For the longest time entrepreneurs sought out the help from friends and family for...
•How Business Credit Lenders Measure Up Your Company
In the past big used to matter in every aspect of business but as we all know times have certainly changed and as Seth Godin says it best in his book 'Small is the New Big'.
Whether you run a business from your home or a small office qualifying for corporate credit will require that you have a 'Big' business structure in place.
Now I'm not talking about the big office or big staff or even a big elaborate PBX phone system. What you do need is the basic operational components that make your...
•Microfinance Loans: How Small Loans May Be Just What You're Looking For
While microcredit loans first originated in the Third World as a way to help launch small businesses thousands of American entrepreneurs are finding it as a viable alternative to traditional lending.
Many of the micro lenders, which are mostly non profits, receive the bulk of funds from the Small Business Administration. Now there are certain requirements to qualify for this small loan but it's much less difficult than that of traditional lenders.
The new age of micro loans for small...
•Business SIC Codes: How it Impacts Business Credit
What is the best way to describe the principle business activity for your company? What type of industry are you involved in? What type of products or services do you sell? These are questions quickly determined by the type of sic codes assigned to your business.
The two types of business classification systems used today is the SIC and NAICS codes.
Lenders, insurance companies and business credit bureaus use these systems to determine if your business is in a high risk industry...
•How to Build Business Credit by Going Green
On Earth Day more individuals, corporations and governments came together and made personal commitments towards creating a global green economy.
Did you know you can build business credit, save money and increase sales for going green as well?
There are many 'Go Green' companies willing to extend credit to your business in an effort to help you become a green company. These credit lines give you access to purchase various business and consumer products designated as eco friendly.
Each...
•Searching for Secured Business Credit Cards?
? While consumers have more than enough secured credit card offers that they can choose from it seems to be more of a challenge for small business owners.
If you are having a hard time finding the right secured business credit cards for your company don't worry because I'm hoping this article will point you in the right direction.
What's most important is first ensuring that the secured card you select as a business does in fact report to the business credit reporting agencies not your...
•Creative Business Financing Options for Your Small Business
While traditional lenders and banks have been sticking to their strict underwriting guidelines there are several creative business financing options that may just help get you the funds you need.
Before getting into the details let me be the first to remind you that separating your personal credit from your business credit should be your primary goal. If you're at the early stages of building your company's credit file then you may have to use your personal credit to secure financing until...
•Business Credit Repair: Is Your Business Credit Profile Less Than Perfect?
? In today's tough economy, business owners should be diligent in protecting and, if necessary, repairing their business credit reports.
Unfortunately there's not much helpful information regarding business credit repair and how you go about correcting errors, inaccuracies or obsolete information on your files with the three main business credit bureaus.
Just the other day one of my members was debating whether to purchase a shelf corporation or work on his existing entity which had two...
•Building Business Credit: Getting Started
If you hope to qualify for financing for your business without having to use your personal credit then building a solid company foundation with positive business credit history is mandatory. Here is a brief overview of the steps you will need to take to move you through the process and get your company on the path to obtaining the funding it needs based on its own creditworthiness.
Shelf Corporations
If you think purchasing shelf corporations will open up the credit floodgates for your...
•Small Business Loans for Bad Credit
Not too long ago I recorded a podcast titled 'Don't Let Bad Credit Keep You from Getting a Business Loan' which covers several ways of obtaining small business loans for bad credit risks.
From that interview I have assembled answers to some of the key questions small business owners ask when it comes to business financing with bad credit to better prepare you in deciding what options best fit the needs of your business.
What is considered bad credit?
When it comes to defining bad credit...
•How to Raise Your FICO Credit Scores
By raising credit scores for both you and your business, you can expect to have much more cash credit and resources available to your company at better interest rates and terms.
In the business world, a strong FICO credit score rating is necessary during the early stages of business financing especially if your business credit profiles are not strong enough.
Due to the current economy and credit markets, banks and lenders are looking at both personal FICO scores and business credit scores....
•Vendor Credit Lines Can Increase Business Credit Scores
Getting Approved for a bank loan or other traditional source of business financing can seem like an impossible task if you're like most small business owners that haven't even begun to establish credit in the name of your business let alone have any type of business credit scores.
You probably believe that you have no other choice but to use your personal credit but let me share with you a viable alternative before you slap down your plastic.
Vendor credit lines also known as trade credit is...
•How Small Business Credit Reports Impact Companies
I'm sure you check your personal credit scores, credit reports and credit card statements on a regular basis but how much attention do you pay to your small business credit report?
While there are several business credit bureaus that collect data let's stick with the three main ones. Keep in mind that each file you have listed is going be different with each bureau so it's important that you monitor your files on a regular basis.
Dun & Bradstreet Business Credit Report
This report also...
•Can a Business Credit Builder System Unlock Corporate Credit for My Small Business?
? Building small business credit for an existing or newly formed corporation can seem like a time intensive task but it doesn't have to be with the right system.
One of the biggest roadblocks preventing most small business owners from getting started is where to begin and what exact steps need to be taken to build corporate credit.
Let's face it there's a lot information out there and unfortunately most of it is incorrect and outdated. You can easily spend endless amounts of time searching...
•Build Business Credit History with a Reporting Bank Loan
When you have business credit history nothing looks more powerful on your business credit report than a business loan. The reason behind this is because lenders and creditors know how difficult it can be and the level of scrutiny your business undergoes in order to get a bank loan approval.
While the majority banks are declining loan applications you're probably wondering how you can possibly get approved for a business loan.
Well I have good news for you because there is a sure fire way to...
•How to Find and Qualify for No Personal Guarantee Business Credit Cards
Finding no personal guarantee business credit cards can be like looking for a needle in a haystack. Let me be the first one to tell you that the credit card issuers for these types of cards do not advertise! Only the most creditworthy small businesses qualify and receive a pre approval invitation.
Some credit cards like the Sam's Club Discover Business account will waive a personal guarantee if your company has less than $5 million in annual sales or revenues or is less than 2 years old or...
•Establish Business Credit with GMAC
While there are many reasons to establish business credit many small business owners overlook the advantages of financing their autos with corporate credit. The key is keeping all your business related expenses and obligations separate from your personal credit files.
This includes minimizing the use of personal credit checks and personal guarantees to get business credit.
Ask yourself the following questions:
Are my business debts reporting to my personal credit files?
Does the auto loan...
•Business Credit: Top 10 Myths Entrepreneurs Should Know
Building business credit is one of the greatest opportunities for small business owners. It provides our business with the ability to obtain financing for unforeseen expenses, operations, expansion costs and investments.
There's so much going on with corporate credit that there are several different fields devoted to servicing it, including business credit cards, small business loans, accounts receivable factoring, merchant account cash advance, lines of credit, equipment financing,...
•Which Business Credit Lenders get it right?
? One of the business credit lenders who get it right when it comes to small business and has a proven track record to back it up is Regions Financial Corporation. Despite the current economic times this lender has continued its small business lending and recognizes the important role that small businesses play during recovery.
According to Tim Laney, senior executive vice president and head of Region's Business Services Group, "Small businesses are the engine of our economy and Regions has a...
•Building Business Credit: 20 Steps to No Personal Guarantees
While obtaining business credit cards, small business loans and a business line of credit is the common objective for many small business owners there is a growing demand for learning how to qualify without having to use personal credit or a personal guarantee.
It's comforting to see that more and more business owners are embracing the idea of separating your personal credit from business credit. Many of our members were never aware of the danger that co mingling the use of credit profiles...
•Business Credit Builder: Dun & Bradstreet Products get a Makeover
After speaking with my contacts at Dun & Bradstreet yesterday about its duns credit builder products there have been recent changes made this year that are important for you to be aware of. These enhancements are good news for small business owners and make the programs offered at DNB more streamlined and affordable to establish, improve, and protect your corporate credit.
Now keep in mind that obtaining a DUNs number does not cost anything to your company but receiving your number can...
•Build Corporate Credit for Your Small Business
One of the most common misconceptions is that small business owners cannot build corporate credit. In most cases there is really only one obstacle preventing them from starting which is the legal structure of the sole proprietorship that so many choose for their company.
Unfortunately, this happens to be the most common choice among small business start ups. Normally you don't pay anything to start a sole proprietorship. Of course you don't get anything, either.
Unless you count the...
•Getting Business Credit Can Be Easy
As small business owners recover from the recession it's hard to imagine that getting business credit can be simple. However, the largest use of capital from business to business is the use of vendor credit lines which happens to be the single largest source of small business lending in America today according to the SBA.
So what is vendor credit?
Vendor credit is when a company, like an office equipment supplier, allows your business to purchase products or services and pay for them at a...
•Start Business Credit: No Personal Credit and No Guarantee!
You can start building business credit very quickly by applying for vendor credit lines. There are companies in the marketplace that are willing to extend credit to your business with no personal credit check or guarantee. Even if your company has no credit history you can get approved but expect limited terms and low credit limits initially.
The benefit to start building business credit using vendor credit lines is that it will provide your business with thousands of dollars in products it...
•Capital Business Credit: Alternative Funding for Small Business
In my business practice I find that more and more clients are considering alternative capital and business credit options for their small business before using business credit cards for funding.
Even though some argue the fact that business credit cards are much easier to obtain compared to loans and lines of credit I have to remind them that it comes with a hefty price tag. In addition if they rely heavily on cards they increase the chances of failure according to a study conducted by the...
•How to Build a Strong Business Credit Profile
There's much more to building a strong business credit profile then simply paying your invoices on time. While this is an obvious way to establish a positive payment history there are many other factors that can dramatically impact the strength of your business credit file.
If I were to ask you what a strong personal credit profile would look like you would probably say that it's having a few credit cards with no more than 30% debt to credit limit ratios, a mortgage loan, and an auto loan...
•Business Credit Building During Challenging Times
Copyright (c) 2009 Marco Carbajo
In the past during good economic times you may have become used to using personal credit cards to finance purchases, equipment, and even payments to suppliers or vendors when starting and operating your business.
Unfortunately times have changed for business credit for small business and what has become a shocking reality to many are the ramifications of what the co mingling of personal credit files for business financing has resulted in.
Many small business...
•Start Business Credit: How to Build Business Credit Using a Shelf Corporation
Copyright (c) 2009 Marco Carbajo
There has been a growing demand in shelf corporations from many of the investors,small business owners and entrepreneurs that I have the opportunity to speak with on an ongoing basis who are looking for coaching on how to start business credit using a shelf corporation.
By sharing some insight with you on shelf corporations and what are the key business credit advantages will better prepare you in making a more educated decision if this is an option you're...
•How to Business Plan - Top 10 Factors You Should Know
Copyright (c) 2009 Marco Carbajo
I'm sure you've heard about 'business plans' but do you know the real benefits to having one?
Not every entrepreneur who starts and runs an online or offline business begins with how to write a business plan, but it definitely helps to have one. If you're seeking funding from a venture capitalist, angel investor or other source of private capital then you will definitely need a comprehensive business plan that is well thought out and shows sound business...
•The Top 10 Business Credit Building Mistakes
Copyright (c) 2009 Marco Carbajo
While many small business owners realize the benefits of starting business credit there are many mistakes that are made in the business credit building process. I felt that compiling a list of the most common mistakes I've seen throughout the industry can serve as a helpful guide to you.
Choosing the wrong entity structure
Selecting the best entity structure for your business is the most important step you can make. Not just from a credit standpoint but also...
•How to Build Instant Business Credit
Copyright (c) 2009 Marco Carbajo
Once you have an entity structure and obtained a Dun & Bradstreet number now it's time to start building your business credit profile. One of the biggest mistakes made by entrepreneurs attempting to build instant business credit is applying for numerous vendor accounts.
While some may have a tendency to believe that the more the merrier is a sound strategy I tend to disagree. The reason is simply getting approved for vendor credit is one thing but what...
•Ultimate Credit for Small Business in Eight Steps
Copyright (c) 2009 Marco Carbajo
I felt inspired to write this article after receiving so many questions about credit for small business and how you go about getting approved for cash credit lines despite the current credit crunch in the economy.
Let me be the first to tell you that businesses are still getting cash credit and business financing today but lenders have adopted new criteria and stricter guidelines that many business owners fail to recognize or adapt to.
It's more important...
•Top 10 to Start Building Business Credit
Copyright (c) 2009 Marco Carbajo
Entrepreneurs and small business owners who have incorporated their business have a special opportunity that no other individual or sole proprietor has. It's the opportunity to start establishing business credit by building a business credit profile that is completely separate from a personal credit profile.
The main problem still facing today's small business owner is fewer than 10 percent know about or truly understand how business credit is established and...
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