Building Business Credit for Small Business
Are you taking all the necessary steps to safeguard your wealth? 
If you think that formalizing a business structure like a corporation or limited liability company is all you need then think again.
It’s the first step but certainly not the only one.
It’s unfortunate that way too many people have lost everything to a business liability incident which could have been easily been avoided if an effective asset protection plan was put in place.
Is your company listed with the major business credit bureaus?
Would your company’s credit ratings be considered creditworthy in the eyes of lenders?
Like personal credit scores your business credit scores or ratings play a significant role in the amount of financing your company can obtain. It also affects the interest rates and level of terms a creditor will extend to you.
So a better business credit rating equals greater opportunity, lower rates, and better terms.
Here are three ways you can improve your business credit scores:
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Have you registered with Dun and Bradstreet’s new iupdate?
In the previous post I covered how DNB eupdate is being replaced by iupdate and how to register your company with the new system.
Assuming that you’ve already registered with iupdate let’s cover the two major components of the platform which are updating your profile and investigating a payment experience.
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Does your company have a DUNs number?
Are you registered with eUpdate?
If so, did you know that on December 20th, 2010 eUpdate will no longer be available?
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Does your business account with your bank or credit union have an active Twitter feed?
Would you find it extremely helpful if your bank engaged with you on Twitter and answered questions and/or issues you have regarding your account?
Do you think regular updates of events, special deals, new bank products, tools, and other helpful information would be of value to your business?
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