3 Helpful Tips to Build Business Credit

Business man and woman discussing how to build business credit.

Owning a business is hard work. It requires a person to work day in and day out to make sure everything goes smoothly. One factor that can cause quite a bit of stress for a new business owner is attempting to build business credit. The good news is, with the tips here, anyone can build their credit and enjoy being able to increase their reach and success.

The Owner should Know their Personal Credit Rating

When it comes to establishing business credit the first thing to learn is what the business owner’s credit rating is. For many banks that are considering lending to a small business, they will look for a credit rating that is, at least, in the mid-600s. This can vary, but on average what is required. A person can boost their personal credit rating by paying bills on time and keeping a low ratio of available credit to debt.

Apply for Credit Prior to Actually Needing It

Establishing business credit when starting a business.When it comes to learning how to establish business credit, it is also important to apply for credit prior to actually needing it. Big business tycoons like D. Gary Young advise that in order to start building a history of credit for a business, try to apply for some type of credit soon after opening the doors. In many cases, a small business will have to be established for a few years prior to banks feeling comfortable enough to offer a sizable line of credit.

Use and Build Business Credit Acquired

There are some businesses that have enviable credit histories who applied for credit lines and cards early and actually used them. The fact is, this is a great business credit building program. When a business is able to establish some type of payment history, request that their credit limit be increased then it will look good and help the credit for the business grow.

There is no question that starting a business is hard. Learning how to get and grow credit will make it a bit easier. Keeping the tips here in mind will help ensure that any business can receive the credit that they want and that they deserve.

Plan for Less Stress when Moving to a New Office

Less Stress when Moving Your Office

There are many reasons why people decide to relocate an office. The most important thing is to make the move stress-free. Many people move locations looking for more customers. They may realize the current office space is bad for business. On the other hand, a more affordable location may be the goal. Here are a few tips to plan for less stress when moving.

Hiring Help Equals Less Stress

Hire a real estate agent to help when moving to a new office. This way, the owner can find out what options are out there. Agents know what parts of town are booming and desirable for opening a new office. Likewise, get some input from the office staff. They may have ideas about why the current location is not working. Do you need more parking? Or, do you need to be in a live-work-play setting. Make a schedule for the move and stick to it. Businesses have to give clients a firm date when they

Make moving to a new office a part of the job. Give every employee a task and make it easier for all. For instance, ask for input about what furniture and other items should go to the new location. Likewise, renting a storage unit is a big help and may result in less stress. Many old files and furniture can go in the storage unit. Further, things can be brought to the new location as needed. Also, go through all the closets and decide what is needed. There are probably a lot of office supplies that are no longer used. If so, call a recycling company to pick up paper products. A shredding service should destroy any old files.

Reducing the Stress of Cleaning it Up

The owner’s lease probably stipulates the office be cleaned after the move. One thing many Salt Lake City business owners are doing is making sure to put money in the budget to hire professional cleaning services. Most people will want to clean their new space as well. Eliminate a lot of stress by allowing professionals to handle the job. Be sure to also hire carpet cleaners in Salt Lake City to do the floors. It eases the mind to know the new location is as sanitary as possible. Moving does not have to be a chore, make it an adventure.