Setting up credit for a business is a key step for any new small business. It helps you keep your personal credit history separate from your business credit history, get the benefits of having good business credit, and show that the owners and the business are different. Here discuss how Build your business credit fast Tampa Bay Area:
Incorporate your business:
Even if you're already a part of it when you read this, it's worth mentioning. The owner is also the company when a business is a sole proprietorship or a general partnership.
Obtain an EIN:
A federal tax identification number, or EIN, is a business's social security number. It is needed to file federal taxes and to open a business bank account in the name of a corporation or limited liability company.
Open a bank account for your business:
Open a checking account in the formal name of the business. Once it's up and running, pay for the business's financial activities.
Set up a phone number for your business:
Whether you use a landline, a cell phone, or VoIP, your business should have a different number in the company's legal name. Put that number in the list so people can find it.
Open a credit file for a business:
Open a credit file for your company with the three business credit reporting agencies: Experian, Equifax, and TransUnion.
Don't be late with your bills:
Pay your bills on time. Maybe you shouldn't have to say that, but they will. Just like it hurts your credit, late payments hurt your business credit.
Conclusion:
In the above, we discuss how Build your business credit fast Tampa Bay Area. Once you have good business credit, keep an eye on it and keep it safe, just like you do with your credit.
Other Source:
https://www.businessfundingnow.com/application/
https://www.businessfundingnow.com/about-us/
https://www.businessfundingnow.com/free-business-funding-and-credit-scan/
https://www.businessfundingnow.com/be-an-affiliate/
https://www.businessfundingnow.com/business-credit/
https://www.businessfundingnow.com/contact-us/
