Credit is viewed in positive terms by some business owners, while others believe it could have a negative effect on their business.
No Matter What You Believe, Credit Is Important
Business credit might be viewed as a way to start a business by some potential entrepreneurs. A loan would allow these business owners to turn their dreams into reality in a minimal amount of time, they believe. Others might prefer to build their business slowly, using only their own cash to avoid the risks that come with debt. In the business world, most owners will find they must accept credit somewhere between these two extremes.
Business loans will not usually be available to start a new business, and owners wanting credit for this purpose are likely to be disappointed. Almost every business will be forced to function with some credit, which will be required to have suppliers deliver on invoices. It will not be practical for most owners to arrange for cash payments at the time of delivery, and many vendors will not accept cash at delivery.
Get Help With Credit
Because credit is so important to a business, owners should consider getting help to create a business credit file as soon as they start building their business. Small Business Starter™ is a service offered by Dun & Bradstreet that could help your business quickly create a business credit file, and have an accurate credit history from the time your business pays its first invoice.
With this feature, you will enjoy expedited service, allowing you to obtain a D&B D-U-N-S® Number. This number can help you begin documenting your business credit in your D&B credit file, and demonstrating your company’s financial stability to creditors and suppliers.
You will also be able to customize your company’s online profile on the D&B Credibility Review™, which can help promote your business with a business description, logo, video, and photos. The listing can enhance your rank on major search engines, and offers a tool to let you keep customers informed with optional Twitter, LinkedIn, and Yelp feeds.