Just as in your personal life, it’s important that your small business has good credit.
To build or improve your business’s credit profile:
- Pay within the set terms of suppliers
- Make sure you are on top of renewals or obtain any new licensing that you are expected to have for your business operations
- Limit the number of inquiries regarding your credit profile
- Don’t overdo it with business credit cards (have a couple, not a dozen)
- Maintain thorough, up-to-date financial records