How To Build Your Business Credit Score
Copyright © Jose Love
http://www.teambuildnetwork.com
For a business to be in the favor of different lenders and to obtain the necessary funding for its future capital needs, having a favorable credit score is very vital. But a good credit rating does not come in an instant, and for any business owner, there are certain steps to follow. These steps will help improve a business’ credit rating as well as maintain a favorable reputation to lenders and investors.
1. Make sure that your business has a legal entity
Your business will not be able to build business credit if it does not have an entity unto itself. And thus, it is necessary for you to be incorporated or to form an LLC (Limited Liability Company). No lender will be willing to give a business loan to a sole proprietor because this might end up as a personal loan in disguise.
2. Find a Good Address, a Telephone Line, E-mail and Internet Service
Having a good physical location for your company adds credibility for lenders to believe that your company is legitimate when your office address is not your own home address. And having the right means for people to contact you such as owning a telephone line as well as an e-mail address and even a web site, is essential especially for faster communication.
3. Check Your Business Listings
Have your company enlisted under all the necessary agencies and make sure that all your listings are under the same exact legal name as well as with the same exact phone number and address. It is very important for all your personal creditors to have you listed under a uniform identity.
4. Obtain All Necessary Business Licenses, Permits, etc.
Obtain a business license for your company and, if applicable, a license for tax resale in the state, city or county location of your business. Follow all the necessary regulatory guidelines for running your business.
5. Organize Financial Statements and Tax Returns
Be ready to present at least two years of financial statements, with which the help of a CPA is highly recommended.
And it is also very important, that your business at this time should already have its own tax ID number. Both federal and state business tax ID numbers should be enlisted under the same exact legal business name.
6. Secure Bank References
A minimum of one bank reference is necessary for your business to establish its score. And it would be advisable if your bank account were at least active for two years, with a good stable balance of at least $10,000 for the past three months for it to be in a favorable position for lending. How you manage cash flow in your business will be reflected from your banking.
7. Obtain At Least Five Trade References
Your business will need five trade references that have given you a credit account. This may include your suppliers or any firm in which your company has purchased goods, preferably at a regular basis. Make sure to choose references that will give a favorable credit history to agencies investigating on your financial history.
8. File for Credit Report Agencies
Get three business credit cards that do not have personal links to you and that will give business credit reporting agencies their feedback on your company.
After doing all these, just remember to play your business in a clean and fair game and of course, pay all your bills on time, and you will surely be able to attain an excellent business credit score.
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Thursday, May 29, 2008
Saturday, May 24, 2008
Work At Home Business
Work At Home Business
Copyright © Jose Love
http://www.teambuildnetwork.com
There are wide varieties of business opportunities that allow you work at home. In fact a work at home business is not a new concept. There are number of old home based businesses, like a child day care, candle making, catering and much more. However the advent of internet improves the home based business options.
You can consider starting a home based business if you really have passion for it. You need to have the ability to work hard, dedication and effort would provide you reward once your home business is up and running.
Though work at home business requires hard work, you can also enjoy the freedom and fun of working at home. You can also spend plenty of time with your family.
Before starting a work at home business, plan well what type of home based business would suit you. Remember what seems perfect for your neighbor or friend may not suit you.
Starting work at home business is not an easy task. You need to consider whether there are any risks in that business. You need to consider whether the business requires huge investment. You also need to seek the help of a mentor who can guide you well to get sure success in home based business.
Some essentials for starting a work at home business:
Once you have decided to start a home based business, you need to organize it properly so that unnecessary delays can be avoided. The following things are essential for home business success:
1. A phone with unlimited long distance calling option, caller Id, Voice mail, call forwarding and anonymous call rejection.
2. You must have a calendar. You can also use a online calendar like Google, outlook or yahoo calendar.
3. Computer software tools, high speed internet connection, flash player, Adobe reader and Java script etc are also important. You can use email software like outlook or outlook express for business email.
4. A good filing system is extremely important so that you can do work most efficiently. Organize business mails,
faxes, training materials etc in separate folders.
5. You can use Instant messenger service which allows you to communicate with your online contacts and getting your questions answered since your phone line needs to be opened for incoming calls from prospects.
6. You can use any room in your home for business purposes. But organize the room well so that you can work peacefully.
These simple steps can help you start home business and run it successfully.
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About the Author:
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Click the link below To find the best home based
business ideas and opportunities:
http://www.teambuildnetwork.com
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Copyright © Jose Love
http://www.teambuildnetwork.com
There are wide varieties of business opportunities that allow you work at home. In fact a work at home business is not a new concept. There are number of old home based businesses, like a child day care, candle making, catering and much more. However the advent of internet improves the home based business options.
You can consider starting a home based business if you really have passion for it. You need to have the ability to work hard, dedication and effort would provide you reward once your home business is up and running.
Though work at home business requires hard work, you can also enjoy the freedom and fun of working at home. You can also spend plenty of time with your family.
Before starting a work at home business, plan well what type of home based business would suit you. Remember what seems perfect for your neighbor or friend may not suit you.
Starting work at home business is not an easy task. You need to consider whether there are any risks in that business. You need to consider whether the business requires huge investment. You also need to seek the help of a mentor who can guide you well to get sure success in home based business.
Some essentials for starting a work at home business:
Once you have decided to start a home based business, you need to organize it properly so that unnecessary delays can be avoided. The following things are essential for home business success:
1. A phone with unlimited long distance calling option, caller Id, Voice mail, call forwarding and anonymous call rejection.
2. You must have a calendar. You can also use a online calendar like Google, outlook or yahoo calendar.
3. Computer software tools, high speed internet connection, flash player, Adobe reader and Java script etc are also important. You can use email software like outlook or outlook express for business email.
4. A good filing system is extremely important so that you can do work most efficiently. Organize business mails,
faxes, training materials etc in separate folders.
5. You can use Instant messenger service which allows you to communicate with your online contacts and getting your questions answered since your phone line needs to be opened for incoming calls from prospects.
6. You can use any room in your home for business purposes. But organize the room well so that you can work peacefully.
These simple steps can help you start home business and run it successfully.
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About the Author:
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Click the link below To find the best home based
business ideas and opportunities:
http://www.teambuildnetwork.com
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Wednesday, May 21, 2008
Real Work At Home
Real Work At Home
Copyright © Jose Love
http://www.teambuildnetwork.com
Thanks to the computer and internet access, more people are enjoying the flexibility of real work at home job opportunities. Those who do not want to sacrifice their family life and career can make use of these jobs that can help stabilize both the career and financial picture.
There are number of legitimate companies that offer real work at home job opportunities. You can therefore enjoy the convenience of working at home and can get relief from the pressure of office in the real world. Most of the companies outsource their work like problems solving, customer service or management services to home based workers.
In fact home based workers tend to learn fast and are more loyal to the company hiring them. The company can therefore get the benefit of quality work without spending for training, office rent, and equipment and so on. Companies also get relief from paying unnecessarily to idle workers, because they only pay for the actual work completed.
Mystery shopping is a tool used by market research companies in order to measure the quality of retail services.
These companies appoint home based workers as mystery shoppers who interact with the business as a normal customer and send the report. The company in turn provides compensation for the services provided by the home based worker.
Online surveys include filling out questionnaires provided by market research companies. You can get smart income by participating in online surveys. The market research companies are ready to pay big amount for getting reliable
unbiased survey report. You need not require any experience or special educational qualification.
Most of the online surveys do not even require typing. You simply need to click on a link that takes you to the survey site and then answer some multiple choice questions by just clicking the answer.
Real work at home job opportunities may or may not require experience and special qualifications. Minimum you need a computer with internet connection, that's it. You would need some basic computer knowledge and some knowledge with internet access. You need not even need step out of home to get a job. You can send your resume online.
However while preparing your resume, be careful and prepare it with professional touch just like you would do for a real world job.
Most of the home based workers engaged in telecommuting jobs get smart pay rather than traditional telecommuters.
Therefore one quarter of people working in telecommuting services in North America are home based workers.
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About the Author:
---------------------------------------------------
Click the link below To find the best home based
business ideas and opportunities:
http://www.teambuildnetwork.com
---------------------------------------------------------------------------------------------------------
Receive 300 Niche Articles Every Month
----------------------------------------------------------------------------------------------------------
Copyright © Jose Love
http://www.teambuildnetwork.com
Thanks to the computer and internet access, more people are enjoying the flexibility of real work at home job opportunities. Those who do not want to sacrifice their family life and career can make use of these jobs that can help stabilize both the career and financial picture.
There are number of legitimate companies that offer real work at home job opportunities. You can therefore enjoy the convenience of working at home and can get relief from the pressure of office in the real world. Most of the companies outsource their work like problems solving, customer service or management services to home based workers.
In fact home based workers tend to learn fast and are more loyal to the company hiring them. The company can therefore get the benefit of quality work without spending for training, office rent, and equipment and so on. Companies also get relief from paying unnecessarily to idle workers, because they only pay for the actual work completed.
Mystery shopping is a tool used by market research companies in order to measure the quality of retail services.
These companies appoint home based workers as mystery shoppers who interact with the business as a normal customer and send the report. The company in turn provides compensation for the services provided by the home based worker.
Online surveys include filling out questionnaires provided by market research companies. You can get smart income by participating in online surveys. The market research companies are ready to pay big amount for getting reliable
unbiased survey report. You need not require any experience or special educational qualification.
Most of the online surveys do not even require typing. You simply need to click on a link that takes you to the survey site and then answer some multiple choice questions by just clicking the answer.
Real work at home job opportunities may or may not require experience and special qualifications. Minimum you need a computer with internet connection, that's it. You would need some basic computer knowledge and some knowledge with internet access. You need not even need step out of home to get a job. You can send your resume online.
However while preparing your resume, be careful and prepare it with professional touch just like you would do for a real world job.
Most of the home based workers engaged in telecommuting jobs get smart pay rather than traditional telecommuters.
Therefore one quarter of people working in telecommuting services in North America are home based workers.
---------------------------------------------------
About the Author:
---------------------------------------------------
Click the link below To find the best home based
business ideas and opportunities:
http://www.teambuildnetwork.com
---------------------------------------------------------------------------------------------------------
Receive 300 Niche Articles Every Month
----------------------------------------------------------------------------------------------------------
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