Table of Contents
We are indeed in the age of entrepreneurship. If weâre being honest, itâs really the American Dream, right?
Starting your own business is a journey that seemingly has no endââin a good way! Thereâs always something to do, always someone to speak with, and still things that need to be reassessed to make sure your business is fully optimized and successful.
When you get to a certain point in your entrepreneurial journey, youâll need to have business credit. In times like this (pandemic), itâs super helpful to have stellar business credit because itâs easier to receive funds to get you over the hump.
You know, to weather the type of âstormâ weâre all enduring at this very moment.
Look at 5 easy steps thatâll put your business in a better position
Put Your Business On The Map
One of the best things that you can do for your business is to put it on the map! Let people know where you are and how to find you with Google Maps. The best part about Google Maps is that itâs free! And once you gain some traction, youâre getting a considerable resource for absolutely no charge.
Itâs great because if someone searches for your type of business in your area, youâre going to organically pop up based on your geographic location. This takes maybe 15 minutes to set up, and theyâll even throw in a free website if you need one! Got to love Google!
Get An EIN Number
Applying for an EIN number separates your personal finances from your business finances. This is especially important and helpful if youâre operating under a sole proprietorship. It also decreases your chances of identity theft. It makes you look more appealing to lenders and others in your business proceedings.
On-Time Payments
Just as they tell you to make your personal payments on time, the same applies to your business payments because your business has a credit report! Youâd want to keep all your finances in order and on time to make sure you can get assistance with loans or grants if you were to ever need them.
Get A Business Credit Card
Opening a business credit card is a great way to boost your businessâ credit score. Use them when needed and keep the usage under 30%. Youâll quickly see your business credit grow this way.
Apply For A Business Loan
Most business owners shy away from taking out loans, but sometimes we need that extra push to really get the ball rolling. Taking advantage of business loans and paying them off on time will also boost your business credit.
Youâll need to make sure you research the lenderâs qualifications and have all the necessary paperwork, such as business plans, tax returns, bank statements, etc.
Donât Let The Process Stress You Out
If you have a business and havenât started the process that builds your business credit, thereâs no need to freak out, just sit back and take a few pulls of some delicious CBD vape juice to prep and prime your mind for all the beneficial information thatâs coming your way!
There are all kinds of ways to boost your business credit score, you only need to be diligent in the process and stay on top of your finances. Also, keep in mind that there are all kinds of programs out there for all walks of life.
Donât limit yourselfââgo for it and make your entrepreneurial dreams a reality!