The Importance of Business Credit

loan-documentsIn the same way as personal credit is a pillar of your financial value, so too is business credit a pillar of the financial value of your business. Business credit is not just important if you want to get a business loan or line of credit (though it is obviously important there), it can also be important in day-to-day business interactions. As such, establishing and maintaining business credit should be a focus for any small business owner.

Many small business owners plan never to need debt instruments to build their business. Either they plan not to grow so fast as to need it, or they plan to bring in equity partners as needed. But, no one can see the future, and what your business needs in ten years can be very different than what it needs today. As such, being prepared is never a bad thing, so that, should a …