Building Business Credit for your business is just as important as legally registering your business with your state or local county clerk's office. Many business owners are excited about the products and services they are ready to launch to their customer base. However, establishing your business structure is key to the foundation of your business. As a new business owner, it is your duty to protect your personal assets. You ask, how do I protect my personal assets? By establishing your business as a legal operating entity. There are several structures that can be used when incorporating a business such as, a Limited Liability Company, a Corporation, or even a Limited Liability Partnership. If you are unfamiliar with these terms, please consult with a tax attorney.
After you have successfully incorporated your business, you can now begin to establish business credit for your company. Think about it. Does the CEO of Saks Fifth Avenue apply for business credit in his name on behalf of the company? Absolutely not! Saks Fifth Avenue is a company that has built sufficient business credit to "stand alone" as a legal entity. Building business credit for your business is simple. The entire process can take a minimum of 90 days for any business owner to begin to see results from individual tradelines. To begin the process of building business credit for your business in any state, check out our quick tips E-Book to learn the secrets of building business credit.
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