Most business owners should focus on building credit as they build their business. There are simple steps to doing this.
Starting a Business Requires Attention to Details
When starting a new business, the owner will be required to complete hundreds, if not thousands, of actions. Each one requires personal attention or expense. Anything a new owner delegates is likely to be done by someone paid to complete those tasks, unless friends and family members are joining the new venture.
Mistakes on small details related to operations can actually be overcome, but mistakes related to financial decisions could have long-lasting implications.
Operations will be adapted with time. New processes will be defined to help smooth sales, and customer service problems which may develop. Financial mistakes can become major setbacks that threaten the survival of a business, because financial resources are likely to be limited, and almost irreplaceable in the beginning.
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 service, you will enjoy expedited service, allowing you to obtain a D&B D-U-N-S® Number. That number can help you begin documenting your business credit in your D&B credit file, and demonstrate 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.