As a small business, is there anything worse than completing a project, only to find that your client has no intention of paying on time (if at all)?
It’s age-old advice: Keep your professional life and personal life separate. But for small business owners, it can be hard to view the two as mutually exclusive. As an entrepreneur, you probably know a poor personal credit score can hamper your ability to finance your business. However, it’s important to note that business debts can wind up harming your personal credit, too.
As a small business owner you know you have big responsibilities. While serving your customer base is most important, it’s essential to keep a solid grasp on your company’s financial situation.
Some small business owners are surprised to learn that when they start a new business, not only does their business have “no” credit, but that no business credit also means “low” credit.
Running your own business can be an extremely fulfilling occupation, but it will not last long if the business does not turn a profit. How do you make sure you are not spinning your wheels or falling into an expensive hole while pursuing your dream of business ownership?