Building Business Credit for Small Business
Did you know trying to pierce the veil of a privately held corpo
ration, or LLC, is the most litigated issue in corporate law today?
Once piercing of the corporate veil occurs the liabilities of the business become the liabilities of its owners.
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With an economy that’s struggling, every small business owner is looking for ways to increase profits, save money and improve efficiency. 
The good news is there are plenty of ideas that you can find in books and articles. But rather than cover the obvious ones, in today’s tough economy you need new and creative ways to save.
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When creditors extend credit to business customers it allows them to 
purchase products and/or services upfront but defer the actual payment for a later date.
The larger the purchase amounts a typical customer makes the greater the risk a creditor will be exposed to.
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Are you familiar with the phrase “Choosing a business partner is like choosing a wife or husband?” 
Compatibility, open communication, passion, trust, a solid work ethic and expertise are just a few of the qualities that we look for in a good business partner.
Having skin in the game is just as important. When a partner invests his own money into the business it deepens the level of commitment and attitude towards it. It provides a greater sense of ownership and responsibility.
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Bad credit can cripple your chances for getting financing, insurance, housing 
and even employment. It can also affect how much you’ll pay on interest, insurance and even cell phone contracts.
So what can you do to recover and restore your good credit ratings?
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